Ring Energy Inc. announced today financial results for the three months and six months ended June 30, 2019. For the three month period ended June 30, 2019, the Company reported oil and gas revenues of $51,334,225, compared to revenues of $29,924,883 for the quarter ended June 30, 2018. For the six months ended June 30, 2019, the Company reported oil and gas revenues of $93,132,540, compared to $59,816,274 for the six [...]
Ring Energy Inc. has scheduled a conference call on Thursday, August 8, 2019 at 12:00 p.m. ET to discuss the 2019 second quarter financial and operating results. Ring expects to issue a press release summarizing these results after the close of market on Wednesday, August 7, 2019. To participate, dial 877-709-8150 at least five minutes before the call is to begin. Please reference the Ring Energy conference call [...]
Ring Energy Inc. announced today an amended capital expenditure budget for 2019 of approximately $152 million. The amended CAPEX results in a reduction of approximately $2 million from the preliminary budget of $154 million announced on April 29, 2019. The decrease is the result of a reduction in new horizontal wells to be drilled in 2019 from 50 to 32 and the reallocation of those funds to the upgrading / reworking of a [...]
Ring Energy Inc. today released its operations update for the second quarter of 2019. In the three months ended June 30, 2019, the Company drilled thirteen new horizontal San Andres wells. On its Central Basin Platform asset, Ring drilled seven new horizontal San Andres wells, five 1-mile horizontal wells and two 1½-mile horizontal wells. On its newly acquired Northwest Shelf property , Ring drilled six new [...]
60 Oil & Gas industry leaders are slated for the first two days of EnerCom's 24<sup>th</sup> Denver conference EnerCom has released the presentation schedule for the oil and gas companies presenting at its 24th annual The Oil & Gas Conference® on Aug. 11-14, 2019, in Denver, Colorado. Day One Presenting Companies at the 2019 EnerCom Conference Aug. 12, 2019, the first day of the EnerCom conference presentation schedule, features a large, established group of operators working across North America's shale basins and internationally, including: Cabot Oil & Gas – – one of the largest Marcellus-focused gas producers; Cabot's 2019 capital budget is approximately $800 million; for 2019 Cabot plans to drill and complete 85 to 90 net wells and place 80... [...]
Ring Energy Inc. announced today financial results for the first quarter ended March 31, 2019. For the three month period ended March 31, 2019, Ring, including the acquired assets from Wishbone Energy Partners as of February 1, 2019, had oil and gas revenues of $41,798,315 compared to $29,891,391 for the quarter ended March 31, 2018, and net income of $11,089,443, or $0.17 per diluted share, compared to net income of [...]
Ring Energy Inc. has scheduled a conference call on Thursday, May 9, 2019 at 12:00 p.m. ET to discuss the 2019 first quarter financial and operating results. Ring expects to issue a press release summarizing these results after the close of market on Wednesday, May 8, 2019. To participate, dial 877-709-8150 at least five minutes before the call is to begin. Please reference the Ring Energy conference call. International [...]
Ring Energy Inc. announced today a preliminary capital expenditure budget for 2019 of approximately $154 million. The preliminary budget includes the estimated cost to drill 50 new horizontal wells and the total expenditures incurred in the first quarter of 2019 by both Ring and the Northwest Shelf assets acquired from Wishbone Energy Partners. Management noted they will release a complete 2019 capital expenditure budget [...]
Ring Energy Inc. today released its operations updates for the first quarter of 2019. In the three months ended March 31, 2019, the Company, employing one drilling rig, drilled seven new horizontal wells and four salt water disposal wells. The Company drilled six new horizontal San Andres wells on its Central Basin Platform asset, five wells which were one mile in length and one well which was one and a half miles in [...]
Ring Energy Inc. announced today that it has closed its transaction with Wishbone Energy Partners, LLC, Wishbone Texas Operating Company LLC and WB WaterWorks, LLC to acquire their Northwest Shelf assets located primarily in southwest Yoakum County, Texas and eastern Lea County, New Mexico. The total adjusted purchase price for the acquisition was approximately $291 million, comprised of approximately $264 million of cash [...]
Ring Energy Inc. announced today financial results for the three months and twelve months ended December 31, 2018. For the three month period ended December 31, 2018, the Company reported oil and gas revenues of $27,561,908, compared to revenues of $23,308,668 for the quarter ended December 31, 2017. For the twelve months ended December 31, 2018, the Company reported oil and gas revenues of $120,065,361, compared to [...]
Ring Energy Inc. announced today that it has entered into a definitive agreement with Wishbone Energy Partners, LLC and its affiliates to acquire its North Central Basin Platform assets located primarily in Southwest Yoakum County, Texas and East Lea County, New Mexico. The total purchase price for the acquisition is $300 million, comprised of $270 million of cash and $30 million of common stock of the Company. SunTrust [...]
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