Ring Energy Inc.

Ring Energy Inc. today reported operational and financial results for the fourth quarter and full year 2020 including Ring's year-end 2020 reserves and affirmed 2021 guidance. Highlights and Recent Key Items Exceeded high end of guidance and sold 9,307 barrels of oil equivalent per day , or 856,271 barrels of oil equivalent , in the fourth quarter of 2020, despite no new wells coming online during the quarter; Reported a [...]

Ring Energy Inc. announced today that it plans to issue its year-end 2020 earnings release after the close of trading on Tuesday, March 16, 2021. The Company has scheduled a conference call on Wednesday, March 17, 2021 at 11:00 a.m. ET to discuss its fourth quarter and full year 2020 financial and operating results, and 2021 plans and guidance as it implements its new strategic vision. To participate, interested parties [...]

Ring Energy Inc. today provided an update on its fourth quarter 2020 operational and financial results and announced initial plans and guidance for 2021. Ring also provided additional details regarding its new strategic vision focused on continued free cash flow generation, capital discipline, cost reductions and debt reduction. Operational and Financial Highlights Remained cash flow positive for the fifth consecutive [...]

Ring Energy Inc. announced today that its corporate headquarters was relocated to the greater Houston area effective January 19, 2021. The new address of the Company's headquarters is 1725 Hughes Landing Blvd, Suite 900, The Woodlands, Texas 77380. Additionally, Ring has closed its Andrews, Texas field office, downsized its Midland office and will be closing its Tulsa office at the end of the first quarter 2021. These [...]

Ring Energy Inc. announced today the results of its fall 2020 redetermination of its $1 billion senior revolving credit facility . The borrowing base was set at $350 million, or approximately 6.7% lower than its previous borrowing base of $375 million. The next regularly scheduled bank redetermination will be on or around May 1, 2021. Management also announced that the Company paid down an additional $45 million against [...]

American Resources, Inc., and SK Energy LLC, the investment vehicle of Dr. Simon Kukes, one of the largest shareholders of Ring Energy Inc. , announced today that they believe the strong lack of support shown by the shareholders of Ring Energy at its December 15, 2020 Annual Meeting shows the Board needs to make changes as they no longer represent the best interests of all shareholders, and they continue to be concerned [...]

Ring Energy Inc. announced today executive management changes effective December 31, 2020. The Company has announced the promotion of Mr. Alex Dyes to Executive Vice President of Engineering and Corporate Strategy, the promotion of Mr. Marinos Baghdati to Executive Vice President of Operations, and the promotion of Hollie Lamb to Vice President of Compliance and General Manager of the Midland, Texas office. Mr. Dyes and [...]

Ring Energy Inc. announced today its shareholders voted decisively to approve Mr. Paul D. McKinney as Chairman of the Board of Directors as well as all six independent directors to the Board. Collectively, all seven directors were elected to serve another one-year term which will end on the date of the 2021 Annual Meeting of Stockholders, or at such time as their successors are duly elected and qualified. Mr. Paul D [...]

American Resources, Inc., and SK Energy LLC, the investment vehicle of Dr. Simon Kukes, one of the largest shareholders of Ring Energy Inc. , announced today that they believe that the slate of Directors that are listed in the proxy mailed out by the company do not represent the best interests of all shareholders. As a result of this, they urge all shareholders to withhold votes on all Directors. Frequently, when other [...]

Ring Energy Inc. announced today it initiated drilling operations on its first new horizontal well in ten months. The Badger 709 B #6XH was spud early Wednesday morning, December 2, 2020, on Ring’s Northwest Shelf leasehold in Yoakum County, Texas. The well will be a one-and-a-half-mile horizontal San Andres oil well drilled to a vertical depth of approximately 5,000’. Additionally, Ring Energy Inc. entered into swap [...]