Ring Energy

Ring Energy, Inc. is an oil and gas exploration company, which engages in oil and natural gas acquisition, exploration, development, and production activities. The firm's areas of operation are situated in the Permian Basin, the Central Basin Platform, and the Delaware Basin. The company was founded by Lloyd T. Rochford and Stanley M. McCabe on July 30, 2004 and is headquartered in The Woodlands, TX.

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Ring Energy excels in Q4 2022, eyes growth amid challenges

Ring Energy's Q4 2022 performance reflects strong operational and financial achievements, supported by record sales volumes and debt reduction efforts.
The company's strategic focus on debt reduction, operational efficiency, and quality acquisitions positions it for sustainable growth and enhanced shareholder value.
While facing challenges in balancing capital spending and debt reduction, Ring Energy has opportunities to capitalize on asset exploration, recompletions, and market valuation improvements.
Overall, Ring Energy's commitment to financial discipline, operational excellence, and value creation underscores its resilience and potential for long-term success in the energy sector.

Ring Energy (REI) posts record Q1 results, eyes growth opportunities

Ring Energy (REI) delivered strong financial performance in Q1 2023, with record sales volumes and adjusted EBITDA, while focusing on debt reduction and operational efficiency.
The company's cautious approach to dividends, emphasis on a fortress balance sheet, and optimization of well performance reflect a prudent financial strategy.
Despite challenges in gas price realizations and operational scrutiny, Ring Energy (REI) remains poised for growth through efficiency gains and strategic financial management.

Ring Energy reports robust Q2 earnings, eyes growth through acquisitions

Ring Energy's Q2 performance showcased resilience amid market challenges, with strong financial metrics and strategic initiatives. The company's focus on cost efficiencies, debt reduction, and high-return projects underscores a commitment to shareholder value. Opportunities in horizontal drilling and pending acquisitions signal a path for growth and operational enhancements.

Ring Energy reports record-tying Q3 results amidst operational successes

Ring Energy's Q3 2023 earnings call showcased strong financial results, successful acquisitions, and a commitment to disciplined capital spending. Despite challenges from downtime events, the company remains focused on maximizing free cash flow and enhancing shareholder value. Opportunities lie in cost reduction efforts, debt management strategies, and benefiting from industry-wide cost pullbacks.

Ring Energy reports record 2023 results, eyes growth and efficiency

Ring Energy's strong performance in 2023 was driven by strategic initiatives and cost management.
The company's focus on debt reduction, production growth, and balance sheet improvement sets a positive trajectory for 2024.
Analysts' inquiries highlighted areas for potential improvement and optimization in operations and financial management.

Ring Energy reports record Q2 performance and focuses on growth

Ring Energy's Q2 performance showcased record sales volumes, strong cash generation, and effective cost management.
The company's focus on debt reduction, balance sheet improvement, and high oil percentage opportunities positions it for future growth.
While challenges in managing cash flow and potential market volatility exist, strategic decision-making and operational optimization offer opportunities for Ring Energy.
Overall, Ring Energy's Q2 results reflect a solid foundation for growth and value creation in the energy sector.

Ring Energy reports record sales volume and debt reduction progress

Ring Energy's Q3 2024 performance reflected operational success and financial discipline amidst industry challenges.
The company's focus on debt reduction, operational efficiency, and growth strategies positions it for long-term success.
Challenges in lease operating expenses and market dynamics require proactive management and strategic decision-making.
Opportunities for growth through exploration, partnerships, and cost optimization underscore Ring Energy's potential for value creation.

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RioCan Real Estate Investment Trust (RIOCF) Q4 2023 Earnings Call Transcript

~ Record Q4 2023 Sales Volumes Near High End of Guidance ~ ~ Further Reduced Debt in Addition to Making Final Payment for the Founders Acquisition ~ THE WOODLANDS, Texas, Jan. 29, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today provided an operational and financial update for the fourth quarter of 2023, as well as production and capital spending guidance for the first quarter of 2024. Key Highlights Fourth quarter 2023 sales volumes were approximately 19,400 barrels of oil equivalent per day (“Boe/d”) (70% oil), near the high end of the Company's guidance, which was 18,900 to 19,500 Boe/d; Positively impacting fourth quarter sales was three full months of production from the recently completed acquisition of the Founders Oil & Gas IV, LLC (“Founders” and the “Founders Acquisition”) assets that closed on August 15, 2023, as well as the success of the Company's 2023 development program that concluded in late November; Further reduced debt by $3.0 million in the fourth quarter of 2023, while also funding the $11.9 million final payment in December for the Founders Acquisition; Ended 2023 with $425 million of borrowings against the Company's credit facility; Guiding first quarter 2024 average sales to be 18,000 to 18,500 Boe/d (~69% oil); Impacting the Company's sales to date was deferred production of approximately 1,900 Boe/d for 10 days, which was associated with recent severe cold winter weather.

Ring Energy Announces Production Results and Continued Debt Reduction for Fourth Quarter 2023 and Partial Guidance for the First Quarter 2024

Ring Energy is focused on improving its balance sheet through acquisitions, increasing oil production, and reworks. The market's negative attitude towards growth may keep commodity prices volatile but also allow time for companies to repair their balance sheets. The recent acquisitions have allowed a maintained debt ratio to show improvement because commodity prices are lower.

Ring Energy: Value Is Still In The Doghouse

Ring Energy is projected to generate $64 million in 2024 free cash flow at current strip. This will allow it to reduce its leverage to 1.4x by the end of 2024. Ring still has some work to do with debt reduction, but should end 2024 with over $240 million in borrowing capacity too.

Ring Energy: Debt Reduction Expected To Continue In 2024

THE WOODLANDS, Texas, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today announced that Paul D. McKinney, Chairman and Chief Executive Officer, will present and host one-on-one meetings with investors during the Microcap Conference on January 31 - February 1, 2024 in Atlantic City, New Jersey.

Ring Energy to Present at the Microcap Conference

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THE WOODLANDS, Texas, Dec. 28, 2023 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today announced that it has issued its 2023 Sustainability Report (the “2023 Report”), which is available on the Company's website at www.ringenergy.com under the “Sustainability” tab.

Ring Energy Announces Issuance of 2023 Sustainability Report

THE WOODLANDS, Texas, Dec. 21, 2023 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today announced that the borrowing base was reaffirmed at $600 million under its $1.0 billion senior revolving credit facility (the “Credit Facility”). In addition, the Company announced that it had recently made the final payment of $11.9 million on its previously-announced acquisition of the Central Basin Platform assets of Founders Oil & Gas IV, LLC (“Founders”). The payment was reduced from $15.0 million to $11.9 million as a result of purchase price adjustments in the final settlement. Separately, Ring disclosed the recent sale of $1.5 million of non-core assets located in Gaines County, Texas.

Ring Energy Announces Successful Results of Senior Credit Facility Fall 2023 Redetermination and Final Payment for Founders Property Acquisition

THE WOODLANDS, Texas, Dec. 01, 2023 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today announced that Paul D. McKinney, Chairman and Chief Executive Officer, will present and host one-on-one meetings with investors during the Sidoti December Virtual Investor Conference on December 6-7, 2023.

Ring Energy to Present at Sidoti Virtual Investor Conference

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Ring Energy is changing its strategy to grow through acquisitions as a way of reducing the debt ratio to acceptable levels. Management believes that the debt ratio needs to be in the 1.0 to 1.3 range for the stock to break out of its current range. Vital Energy successfully implemented an accretive transaction strategy to reduce the debt ratio to acceptable levels.

Ring Energy: Strategy Shift

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Ring Energy reported Q3 results, where it reported good results and the completion of the acquisition of Founders Oil & Gas. The company is successfully focused on cost reduction and growing production and, over time, will become appropriately valued. The company is undervalued relative to book value as well as its current oil production likely due to its continued share dilution used for acquisitions.

Ring Energy: Undervalued Permian Play And Strong Q3

~ Matches Record for Generating Quarterly Adjusted EBITDA ~ ~ Benefiting from Solid Industry Backdrop, Targeted Capital Spending Program and Recently Completed Acquisition ~ ~ Closed on Sale of Non-Core Operated New Mexico Assets on September 27, 2023 ~ THE WOODLANDS, Texas, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today reported operational and financial results for the third quarter of 2023. In addition, the Company updated its guidance for the fourth quarter of 2023 and announced the successful sale of its non-core operated New Mexico properties that closed on September 27, 2023.

Ring Energy Announces Third Quarter 2023 Results and Updates Fourth Quarter 2023 Guidance

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THE WOODLANDS, Texas, Oct. 19, 2023 (GLOBE NEWSWIRE) --  Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today announced the timing of its third quarter 2023 earnings release and conference call.

Ring Energy Announces Timing of Third Quarter 2023 Earnings Release and Conference Call

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Ring Energy is following the industry trend of using accretive acquisitions to increase free cash flow in the oil and gas sector. The acquisition of Founders Oil & Gas is expected to significantly boost Ring Energy's free cash flow, providing leeway for lower oil and gas prices. The acquisition will slightly lower production costs for the company and is justified by the higher oil production percentage and lower price per acre.

Ring Energy: Focusing On Free Cash Flow

Ring's recent transactions added $57 million to its net debt. It appears to have added approximately 1,400 BOEPD in net current production, with a high oil cut. Ring's operating costs are reduced after its Delaware Basin divestiture, with lease operating costs of nearly $45 per BOE in 2022.

Ring Energy: Recent Transactions Reduce Its Operating Costs

THE WOODLANDS, Texas, Aug. 16, 2023 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today announced it has completed its previously announced acquisition (the “Transaction”) of the Central Basin Platform (“CBP”) assets of Founders Oil & Gas IV, LLC (“Founders”). Founders' CBP operations are located in the Permian Basin in Ector County, Texas and are focused on the development of approximately 3,600 net acres that are similar to Ring's CBP assets acquired in 2022 from Stronghold Energy Operating II, LLC and its affiliate (“Stronghold”).

Ring Energy Announces the Closing of the Founders Oil & Gas Permian Basin Assets Acquisition

Ring Energy's recovery from the covid challenges continues. This was a development stage company whose transition to an operating company got interrupted. What was considered a conservative debt load became burdensome. The latest Stronghold acquisition is a big step towards getting that production to an optimal level without the debt growing as much.

Ring Energy: Getting That Corporate Breakeven Down

THE WOODLANDS, Texas, Aug. 11, 2023 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today announced its participation in the EnerCom Denver Conference to be held in Denver, Colorado where Alex Dyes, Executive Vice President of Engineering and Corporate Strategy, is scheduled to make a presentation on Monday, August 14th, 2023 at 1:55 pm Mountain Time (2:55 pm Central Daylight Time).

Ring Energy Announces Participation in Upcoming Energy Investor Conferences

Ring Energy (REI) came out with quarterly earnings of $0.14 per share, beating the Zacks Consensus Estimate of $0.13 per share. This compares to earnings of $0.29 per share a year ago.

News for Ring Energy Stock (REI)