Ring Energy: Strong Sales Volume Performance Boosts Its Value

Torsten Asmus Ring Energy (NYSE:REI) delivered Q2 2024 sales volumes that were significantly above expectations, and also increased its full-year guidance by 4% to 5%. The strong sales volumes allowed it to generate $37 million in adjusted free cash flow for 1H 2024 despite low realized prices for its non-oil production. Ring only paid its credit facility debt down by $18 million in the first half of 2024 though, due to the impact of working capital changes (some of its free cash flow went to reducing accou ...