THE WOODLANDS, Texas, June 24, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE:REI) ("Ring" or the "Company") today announced management team changes, including the pending departure of two senior executives. Mr. Stephen D. Brooks, Ring's Executive Vice President of Land, Legal, Human Resources and Marketing, has elected to retire from his position effective July 1, 2024. The Company has an active search underway seeking to attract a new executive team member to lead the Company's legal and human resources ...

SimonSkafar Ring ended up selling 19,034 BOEPD during Q1 2024, which was 3% above the high-end of its guidance for the quarter. Ring's oil cut ended up at 70% instead of the 69% it had expected. This resulted in 13,394 barrels per day in oil sales during the quarter, which was 5% above the high-end of its guidance. Ring noted that there was less downtime than expected during the quarter, which helped its volumes. The higher production/sales volume levels resulted in Ring's lease operating expense ending up ...

bjdlzx Ring Energy, Inc. (NYSE:REI) management has long been trying to get this company to an appropriate operating model with adequate cash flow and a marketacceptable debt ratio, as the last article (and more before it) discussed. This kind of transition can weigh on an investor's patience. However, the result should be a higher stock price valuation based upon fewer debt fears combined with an ability to return capital to shareholders that the market now demands. This time around, management reported sig ...

Latam Logistic Properties (NYSE:LPA) caught my attention, with the stock skyrocketing by 1,730% last month. A big season for meme names seems to be unfolding and there will be ample opportunities to make quick money in penny stocks. A big reason to believe that speculation is likely to rise in equities is the possibility of rate cuts. The covid-19 pandemic driven rate cut induced the meme stock euphoria of 2021. While policymakers aim to drive GDP growth through lower interest rates, speculation is inevitab ...

Exhibit 99.1 RING ENERGY ANNOUNCES FIRST QUARTER 2024 RESULTS, PROVIDES SECOND QUARTER 2024 OUTLOOK AND REITERATES FULL YEAR 2024 GUIDANCE ~ Crude Oil and Boe Sales Volumes Exceed High End of Q1 Guidance ~ ~ LOE per Boe and Capital Spending Below Low End of Q1 Guidance ~ The Woodlands, TX – May 6, 2024 – Ring Energy, Inc. (NYSE American: REI) ("Ring" or the "Company") today reported operational and financial results for the first quarter of 2024. Also, the Company provided an outlook for the second quarter ...

Financial Data and Key Metrics Changes - In Q1 2024, the company sold 13,394 barrels of oil per day, which was 5% higher than the top end of sales guidance, and total product sales volumes were 19,034 barrels of oil equivalent (Boe) per day, 3% above guidance [9][10] - Adjusted net income for Q1 was $20.3 million, or $0.10 per diluted share, compared to $21.2 million, or $0.11 per diluted share in Q4 2023 [19] - Adjusted EBITDA for Q1 was $62 million, down from $65.4 million in Q4 2023, while net cash provided by operating activities was $45.2 million, compared to $55.7 million in Q4 2023 [34] Business Line Data and Key Metrics Changes - The company increased oil to 70% of its product mix, with lease operating expenses (LOE) at $10.60 per Boe, below guidance [10][12] - Capital expenditures for Q1 were $36.3 million, which included drilling and completion of 5 horizontal wells and 6 vertical wells, coming in below guidance [10][34] Market Data and Key Metrics Changes - The average natural gas price differential from NYMEX futures pricing for Q1 was a negative $2.57 per Mcf, an improvement from negative $3.12 per Mcf in Q4 2023 [18] - Revenue for Q1 was $94.5 million, a 5% decrease from Q4 2023, with oil accounting for 98% of revenue despite being 70% of production [18] Company Strategy and Development Direction - The company plans to maintain a phased 2-rig drilling program to retain flexibility in response to changing commodity prices and market conditions [15][24] - The focus remains on operational excellence, improving the balance sheet, and pursuing strategic acquisitions to enhance growth [24][36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the operational and financial success of Q1, attributing it to strategic acquisitions and improved efficiencies [31] - The company anticipates production for Q2 to range between 18,500 and 19,100 Boe per day, with oil production between 13,000 and 13,400 barrels per day [15][23] Other Important Information - The company paid down $3 million of debt in Q1 and $33 million since the Founders acquisition, exiting the quarter with $179.3 million of liquidity [14][21] - Adjusted free cash flow for Q1 was $15.6 million, representing the 18th consecutive quarter of positive adjusted free cash flow [13] Q&A Session Summary Question: Can you discuss the economics of the investment types in your areas? - Management noted robust economics in the San Andres horizontal oil play and strong drilling results from Founders' assets, which have a higher percentage of oil [26] Question: What are the limitations regarding infrastructure and takeaway? - Management acknowledged challenges with gas takeaway in the Central Basin Platform but noted that additional infrastructure improvements are expected [28] Question: How much capital can be allocated to P.J. Lea and Penwell areas? - Management confirmed flexibility to add capital in P.J. Lea, with no constraints, while Penwell is still addressing some saltwater disposal issues [70] Question: Why is the Q2 CapEx guidance consistent with Q1 despite better performance? - Management indicated that the consistency in guidance reflects conservatism and potential additional costs related to operational hiccups and ESG improvements [71]

Table of Contents United States Securities and Exchange Commission Washington, D.C. 20549 Form 10-Q x Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2024 o Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ______ to ______ Commission file number 001-36057 Ring Energy, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of ...

Ring Energy, Inc. (NYSE:REI) Q4 2023 Earnings Conference Call March 8, 2024 11:00 AM ET Company Participants Al Petrie - Investor Relations Paul McKinney - Chairman & CEO Travis Thomas - EVP & CFO Marinos Baghdati - EVP, Operations Conference Call Participants Jeff Grampp - Alliance Global Partners Neal Dingmann - Truist Noel Parks - Tuohy Brothers Jeff Robertson - Water Tower Research Operator Good morning, and welcome to the Ring Energy Fourth Quarter and Full Year 2023 Earnings Conference Call. [Operator ...

Exhibit 99.1 RING ENERGY ANNOUNCES RECORD FOURTH QUARTER AND FULL YEAR 2023 RESULTS, YEAR-END 2023 PROVED RESERVES AND ADDITIONAL 2024 GUIDANCE The Woodlands, TX – March 7, 2024 – Ring Energy, Inc. (NYSE American: REI) ("Ring" or the "Company") today reported record operational and financial results for the fourth quarter and full year 2023, year-end 2023 proved reserves and provided additional 2024 operational and financial guidance. 2023 Q4 and Full Year Highlights and Recent Key Items 1 • Grew fourth qua ...

Value Focused Proven Strategy | March 7, 2024 | NYSE American: REI Acquired Proved Reserves (MMBoe)234.3 66.6 9.2 110.1 Acquisition Price4 ($MM) $300 $465 $75 $840 • Since 2018, Ring has successfully grown production by a ~26% CAGR1 through 4Q 2023 1 CAGR is compounded annualized growth rate. 2 Acquired proved reserves for each of the transactions listed are based on the price forecasts reported as of the time the acquisition was announced. 3 Arithmetic sum, or average, as the case may be, of the three acqu ...