Welcome to our dedicated page for Ring Energy news (Ticker: REI), a resource for investors and traders seeking the latest updates and insights on Ring Energy stock.
Ring Energy Inc. (NYSE MKT: REI) is a Texas-based independent oil and gas company specializing in exploration, development, and production activities. Founded in 2012, the company has strategically focused its operations in Texas and Kansas, with a particular emphasis on the resource-rich Permian Basin. This area includes the Northwest Shelf, the Central Basin Platform, and the Delaware Basin, which are known for their oil and liquid-rich producing formations.
Ring Energy's primary mission is to enhance shareholder value by expanding its proven reserves and maintaining positive cash flow. The management team, which boasts over 100 years of combined experience, has a proven track record of successfully building oil and gas companies from the ground up. Through strategic acquisitions and exploitation, Ring Energy has increased its proven reserves to an estimated 7.2 million barrels of oil equivalents (BOE) as of December 31, 2013, with a PV-10 (future net revenues discounted at 10%) estimated at $198 million.
The company continues to actively seek and develop select properties that promise immediate positive cash flow and long-term development opportunities. This strategy not only boosts the company's resource base but also ensures sustainable growth and profitability. Recent achievements and ongoing projects highlight Ring Energy's commitment to operational excellence and financial robustness.
Ring Energy is headquartered in The Woodlands, Texas, and maintains a transparent communication channel with its stakeholders. For the latest updates and detailed information, Ring Energy encourages interested parties to reach out to their Senior Partner, Al Petrie, at apetrie@ringenergy.com or by phone at 281-975-2146.
Ring Energy, Inc. (NYSE American: REI) announced its fourth quarter and full year 2021 earnings release scheduled for March 16, 2022, after market close. A conference call to discuss operational and financial results will be held the following day, March 17, 2022, at 11:00 a.m. ET. Interested participants can join by dialing 833-953-2433 or through an international line at 412-317-5762. The call will also be webcast on the company’s website.
Ring Energy, Inc. (NYSE American: REI) is scheduled to participate in the 34th Annual Roth Conference in Dana Point, California from March 13-15, 2022. CEO Paul McKinney and EVP Alex Dyes will conduct in-person investor meetings. A pre-recorded presentation by McKinney will be available on Ring's website on March 14, 2022. Additionally, Ring will attend the 50th Annual Scotia Howard Weil Energy Conference in New Orleans from March 21-23, 2022, with an updated investor deck posted online on March 22, 2022.
Ring Energy, Inc. (NYSE American: REI) reports strong fourth quarter 2021 sales volumes of 9,154 BOEPD, an 11% increase from Q3 2021. Full-year sales volumes reached 8,519 BOEPD. The company reduced debt by $5 million, bringing total reductions to $85 million since Q2 2020. Ring commenced its 2022 drilling program in late January, having already drilled two wells. The enhanced hedge position is set at 1,000 BOPD with an average swap price of $84.61. The company ended the year with $290 million in borrowings and $2.4 million cash on hand, increasing liquidity to nearly $62 million.
Ring Energy, Inc. (NYSE American: REI) has raised its fourth quarter 2021 sales guidance to between 9,000 and 9,300 barrels of oil equivalent per day, thanks to strong production results from its recent drilling programs. The completion of the Phase IV program, which targeted high-return wells, capped off a successful year with 11 wells drilled and 13 completed. The company plans a continuous one-rig drilling program for 2022, focusing on enhancing production and cash flow while reducing debt. Stronger oil prices are expected as hedges roll off, positioning Ring for improved financial performance.
The Woodlands, Texas, Dec. 09, 2021 – Ring Energy, Inc. (NYSE American: REI) announced the reaffirmation of its borrowing base under its senior revolving credit facility at $350 million. The bank redetermination reflects confidence from its banking group and supports the company's capital spending programs and debt repayment capabilities. Current hedging requirements for 2022 remain unchanged, fully covered by existing hedges. The next bank redetermination is scheduled for May 2022, allowing Ring to benefit from improved oil prices as hedges roll off by year-end.
Ring Energy, Inc. reported strong Q3 2021 results with net income of $14.2 million ($0.12/share) and Adjusted EBITDA of $19.7 million. The company sold 8,243 Boe/d, predominantly oil, despite lower production due to operational constraints. Key highlights include generating Free Cash Flow of $2.6 million and reducing debt by $5.5 million in the quarter. Liquidity increased to $56.2 million, with plans for further debt reduction. The Phase IV drilling program commenced, and production is expected to improve as new wells come online. Overall, a solid balance sheet and operational efficiency continue to position Ring for future growth.
Ring Energy, Inc. (NYSE American: REI) has officially announced the timing for its third quarter 2021 earnings release. The earnings report will be published after market close on November 9, 2021. Following this, a conference call will occur on November 10, 2021 at 11:00 a.m. ET to discuss the operational and financial results. Interested participants can join by calling 833-953-2433 or 412-317-5762 for international callers. More details can be found on Ring's website under the Investors section.
Ring Energy, Inc. will participate in EnerCom's The Oil and Gas Conference on August 18 in Denver, Colorado. Chairman and CEO Paul McKinney is set to present at 10:30 AM Mountain Time. In addition to the presentation, senior management will engage in one-on-one meetings with investors. The presentation will be available via live webcast and archived on Ring's website, where an updated investor slide deck will also be posted on August 17. Ring Energy focuses on oil and gas exploration and production, particularly in the Permian Basin.
Ring Energy reported operational and financial results for Q2 2021, selling 8,709 Boe/d (89% oil), a notable increase of 11% from Q1 2021. While the company faced a net loss of $15.9 million or $0.16 per share, it achieved an Adjusted Net Income of $7.3 million and generated Free Cash Flow of $5.6 million. The company paid down $5 million of debt and initiated a four-well Phase III drilling program due to rising crude oil prices. Sales volumes are expected to reach 8,700-9,200 Boe/d in H2 2021, supported by strategic drilling and operational efficiencies.
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