Ring Energy Announces the Closing of the Lime Rock Permian Basin Assets Acquisition

Core Insights - Ring Energy, Inc. has successfully completed the acquisition of Lime Rock Resources IV, LP's Central Basin Platform assets in the Permian Basin, enhancing its operational footprint and production capabilities [1][3]. Transaction Details - The acquisition includes approximately 17,700 net acres, primarily contiguous to Ring's existing operations, which will facilitate quick integration and operational synergies [1][3][7]. - The total cash payment for the transaction was approximately $63.6 million, with a deferred cash payment of$10 million due by December 31, 2025, and the issuance of about 6.5 million shares of common stock [8]. Financial Impact - The acquired assets are expected to generate approximately 2,300 barrels of oil equivalent per day, contributing an estimated $34 million to the 2025 Adjusted EBITDA [7]. - The acquisition is projected to be accretive to Ring's key financial metrics, valued at less than 85$120 million [7][8]. Strategic Benefits - The transaction strengthens Ring's position as a leading conventional Permian consolidator, providing a robust inventory of over 40 gross drilling locations that are economically viable and ready for capital allocation [7]. - The integration of these assets is anticipated to yield cost reduction opportunities and enhance the company's operational efficiency [3][7].