Ring Energy Updates Second Quarter 2025 Guidance

Core Viewpoint - Ring Energy, Inc. has reaffirmed its sales volume guidance for Q2 2025 while significantly reducing its capital spending guidance due to declining oil prices [1][2]. Sales Volumes - Total sales volumes are projected to be between 13,700 and 14,700 barrels of oil per day (Bo/d), with a midpoint of 14,200 Bo/d [2][7]. - Total production is expected to range from 20,500 to 22,500 barrels of oil equivalent per day (Boe/d), with a midpoint of 21,500 Boe/d [2][7]. - The composition of total production is anticipated to be 66% oil, 18% natural gas liquids (NGLs), and 16% gas [2]. Capital Program - The capital spending guidance has been reduced to a range of $14 million to $22 million, with a midpoint of $18 million, representing a decrease of over 50% [2][7]. - The capital spending outlook includes funds for well recompletions, capital workovers, infrastructure upgrades, well reactivations, and leasing acreage [4]. Operating Expenses - Lease Operating Expense (LOE) is projected to be between $11.50 and $12.50 per Boe, with a midpoint of $12.00 per Boe [2][7]. Strategic Focus - The company emphasizes a value-focused strategy aimed at maximizing cash flow and managing commodity price volatility, which is crucial for strengthening the balance sheet during periods of low oil prices [2]. - The decision to reduce capital spending is seen as a proactive measure to enhance debt reduction and better position the company for potential risks associated with prolonged low oil prices [2].