Ring Energy Provides Operational Update - Amended to Correct Wells Drilled in First Quarter 2025

Core Insights - Ring Energy, Inc. reported strong operational performance in Q1 2025, with oil sales volumes exceeding guidance and a successful asset acquisition [2][4][7] - The company emphasizes a value-focused strategy aimed at generating free cash flow and maintaining disciplined capital spending [4][7] Operational Performance - Oil production reached over 12,000 barrels per day (Bo/d), surpassing the high end of guidance [7] - Total sales volumes exceeded the midpoint of guidance, with over 18,300 barrels of oil equivalent per day (Boe/d) [7] - The success of the drilling program, which included 7 new wells, contributed to the outperformance [7] Asset Acquisition - The acquisition of Lime Rock's Central Basin Platform assets was completed on March 31, 2025, enhancing cash flow from long-life, oil-weighted assets [4][7] - Initial operational synergies were realized, reducing lease operating expenses (LOE) by over 5% [7] Future Outlook - The company plans to release its Q1 2025 earnings on May 7, 2025, followed by a conference call on May 8, 2025 [5] - Management expressed confidence in the company's ability to navigate commodity price volatility through flexible contracting and hedging strategies [4][7]