Ring Energy Inc. (NYSE MKT: REI) (“Ring” or the “Company”) today announced its operations update for the third quarter of 2014. During the third quarter, Ring drilled 32 new wells on its Permian Basin properties in Andrews County, Texas, making a total of 132 new wells drilled since securing a rig in early June 2013. Nineteen of the 32 wells were completed and placed in production and the remaining 13 wells are in various [...]
Ring Energy Inc. (NYSE MKT: REI) (“Ring”) (“Company”) announced today financial results for the three months and six months ended June 30, 2014. For the three month period ended June 30, 2014, Ring had oil and gas revenues of $11,204,238, compared to $1,291,579 for the quarter ended June 30, 2013, a 767% increase and net income of $2,821,738 or $0.11 per fully diluted share, compared to a net loss of $890,393, or $0.06 [...]
Ring Energy Inc. (NYSE MKT: REI) (“Ring”) (“Company”) today announced its operations update for the second quarter of 2014. During the second quarter, Ring drilled 36 development wells and one salt water disposal well on their Texas properties, 27 of which were completed and placed in production by June 30, 2014. The remaining nine development wells are in varying stages of completion and will be placed in production in [...]
Ring Energy Inc. (NYSE MKT: REI) (“Ring” or the “Company”) today announced it has entered into a definitive agreement with a group of institutional investors to issue 2,000,000 restricted shares of the Company’s common stock at a price of $15.00 per share for approximately $30 million in gross proceeds. The private offering is expected to close on or about June 17th, 2014, subject to customary closing conditions. The [...]
Ring Energy Inc. (NYSE MKT: REI) (“Ring”)(“Company”) announced today record financial results for the first quarter ended March 31, 2014. For the three month period ended March 31, 2014, Ring had oil and gas revenues of $5,970,452 compared to $1,151,957 for the quarter ended March 31, 2013, a 418% increase and net income of $1,163,689, or $0.05 per diluted share, compared to net loss of $965,280 or $0.07 loss per diluted [...]
Ring Energy Inc. (NYSE MKT: REI) (“Ring”) (“Company”) today announced its operations update for the first quarter of 2014. In the first three months of 2014, Ring drilled 24 development wells on their Texas properties, 15 of which were completed and placed in production by March 31, 2014. The remaining nine development wells are in varying stages of completion and will be placed in production in the second quarter. In [...]
Ring Energy Inc. (NYSE MKT: REI) (“Ring”)(“Company”) announced today financial results for the fourth quarter and year ended December 31, 2013. Ring had net income of $1,534,957, a 1,047% increase, on oil and gas revenues of $5,051,434, a 609% increase, for the fourth quarter compared to net income of $133,821 on revenues of $712,180 for the fourth quarter ended December 31, 2012. For the year ended December 31, 2013 [...]
Ring Energy Inc. (NYSE MKT: REI) (“Ring”)(“Company”) announced today it has finalized the acquisition of 2,481 gross (1,567 net) acres located in Andrews and Gaines Counties, Texas. The acreage, comprised of 92 separate leases, includes both “developed” and “undeveloped” parcels and is in close proximity to existing Company-owned Permian Basin assets that are currently in varying stages of development. The “developed [...]
Ring Energy Inc. (NYSE MKT: REI) (“Ring”) (“Company”) today announced its operations update for the fourth quarter of 2013. In the last three months of 2013, Ring drilled 17 development wells, 15 of which were completed and placed in production by year-end. The remaining two development wells are in varying stages of completion and will be placed in production in early 2014. In addition, the Company performed three [...]
Ring Energy Inc. (NYSE MKT: REI) (the “Company”) today announced that it has completed the sale of 5,750,000 shares of its common stock, including 750,000 shares covering the over-allotment option exercised by the underwriters, resulting in gross proceeds of $57.5 million and estimated net proceeds of approximately $54.3 million, after deducting underwriting commissions and estimated offering expenses payable by the [...]
Ring Energy Inc. (NYSE MKT: REI) (the “Company”) announced today that it has priced an underwritten public offering of 5,000,000 shares of its common stock to the public at $10.00 per share. The Company expects to close the sale of the shares of common stock on December 11, 2013, subject to customary closing conditions. The underwriters will have a 30-day option to purchase up to an additional 750,000 shares of common [...]
Ring Energy Inc. (NYSE MKT: REI) (the “Company”) announced today that it plans to offer 5,000,000 shares of its common stock in an underwritten public offering. The underwriters have an option to purchase up to an additional 750,000 shares from the Company. SunTrust Robinson Humphrey, Inc., is acting as sole book-running manager for this offering. The Company intends to use the net proceeds from the offering to fund [...]
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