Welcome to our dedicated page for Ring Energy news (Ticker: REI), a resource for investors and traders seeking the latest updates and insights on Ring Energy stock.
Ring Energy, Inc. (NYSE: REI) operates as a key player in oil and natural gas exploration, with strategic operations across Texas and Kansas. This page serves as the definitive source for REI news, offering investors and industry professionals timely updates on operational milestones and corporate developments.
Access curated press releases covering quarterly earnings, asset acquisitions, drilling advancements, and regulatory filings. Our repository ensures you stay informed about REI's Permian Basin activities and proven reserve growth strategies without market speculation.
Key content includes updates on exploration initiatives, production efficiency metrics, and management commentary. Bookmark this page for direct access to primary source materials that support informed energy sector analysis.
Ring Energy (REI) reported strong Q3 2024 results with record sales of 20,108 Boe/d (66% oil). The company achieved net income of $33.9 million ($0.17 per diluted share) and Adjusted EBITDA of $54.0 million. Notable developments include a $5.5 million divestiture of non-core vertical wells, $42.7 million in capital spending for drilling operations, and $15 million debt reduction during Q3. The company maintained positive cash flow for the 20th consecutive quarter and ended with $392.0 million in outstanding borrowings. Ring Energy updated its full-year 2024 guidance, projecting oil sales volumes between 13,250-13,450 Bo/d and capital spending of $147-155 million.
Ring Energy (NYSE American: REI) has announced its schedule for third quarter 2024 earnings release and conference call. The company will release its Q3 2024 earnings after market close on Wednesday, November 6, 2024, followed by a conference call on Thursday, November 7, 2024 at 11:00 a.m. central time. Interested parties can join the call by dialing 833-953-2433 (US) or 412-317-5762 (International). The call will be webcast on Ring's website, and an audio replay will be available afterward.
Ring Energy (NYSE American: REI) has announced its participation in a Water Tower Research (WTR) Fireside Chat on October 16, 2024, at 10:00 AM Central Time. The event, part of WTR's ongoing Fireside Chat Series, will feature an in-depth conversation between Jeff Robertson, Managing Director at WTR, and Paul McKinney, Ring's Chairman and CEO.
The discussion will cover important topics including:
- Capital allocation optionality from organic development opportunities
- Results of the Company's 2024 drilling program
- Current state and expected mergers and acquisitions landscape
- Ring's outlook for continued debt reduction
Investors can register for the event at the provided Zoom link. The presentation will also be available on Ring Energy's website under the 'Investors' tab.
Ring Energy (NYSE American: REI) has announced its participation in the EnerCom Denver Conference. Paul McKinney, Chairman and CEO, is scheduled to present on Monday, August 19th, 2024 at 11:20 am Mountain Time (12:20 pm Central Time). The presentation will be webcast live and archived on Ring's website in the 'Investors' section. Senior management will also host one-on-one meetings with investors. An updated investor slide deck will be posted on the day of the event in the 'Investors' section under 'Presentations'.
Ring Energy reported strong Q2 2024 results and improved guidance for Q3 and full year 2024. Key highlights include:
- Record sales of 19,786 Boe/d (69% oil), up 4% from Q1
- Net income of $22.4 million ($0.11 per diluted share)
- Record Adjusted EBITDA of $66.4 million, up 7% from Q1
- Record Adjusted Free Cash Flow of $21.4 million
- Reduced debt by $15 million during Q2
- Increased full year 2024 oil production guidance by 4% at midpoint
- Lowered full year capital spending guidance by 3% at midpoint
The company remains focused on maximizing cash flow and further debt reduction in 2024. Improved efficiencies and lower costs contributed to better-than-expected results in the first half of the year.
Ring Energy (NYSE American: REI) has announced a key addition to its management team. Phillip Feiner has joined the company as Vice President, General Counsel, bringing over 25 years of energy industry experience. Mr. Feiner will lead Ring's legal and human resources efforts, playing a important role in executing the company's long-term strategy.
CEO Paul D. McKinney expressed confidence in Mr. Feiner's appointment, highlighting the importance of this role in maximizing cash flow, improving the balance sheet, and driving increased stockholder value. Mr. Feiner's extensive background includes positions at Nacero Inc., HSB Solomon Associates, Kosmos Energy, and Cano Petroleum, demonstrating his expertise in various sectors of the energy industry.
Ring Energy (NYSE American: REI) has announced the schedule for its second quarter 2024 earnings release and conference call. The company plans to issue its earnings release after the market closes on Tuesday, August 6, 2024. A conference call is scheduled for Wednesday, August 7, 2024, at 11:00 a.m. Central Time to discuss the operational and financial results.
Interested parties can participate in the call by dialing 833-953-2433 (US) or 412-317-5762 (International). The call will also be webcast on Ring Energy's website. An audio replay will be available on the company's website following the call.
Ring Energy has increased its sales guidance for Q2 2024, projecting 13,500 to 13,700 Bopd and 19,500 to 19,700 Boepd, surpassing prior guidance ranges. The company reduced its debt by $15 million, ending the period with $407 million of outstanding borrowings. This debt reduction was driven by higher-than-expected sales volumes and efficiencies in their drilling program. Ring Energy reaffirmed its $600 million borrowing base under its $1 billion credit facility, with $193 million of borrowing availability remaining. CEO Paul D. McKinney emphasized the company's focus on maximizing free cash flow and further debt reduction for the rest of the year.
Ring Energy announced significant changes to its management team. Stephen D. Brooks, the Executive VP of Land, Legal, HR, and Marketing, will retire on July 1, 2024. The company is actively searching for his replacement. Marinos Baghdati, Executive VP of Operations, will leave on July 17, 2024. Shawn Young, currently the Production Engineering Manager, will be promoted to VP of Operations. Young joined Ring in 2022 and has over 33 years of experience in the energy industry. CEO Paul D. McKinney expressed gratitude for Brooks and Baghdati's contributions and confidence in Young's capabilities. A formal announcement regarding the new legal and HR executive is expected soon.
Ring Energy, Inc. (NYSE American: REI) reported operational and financial results for Q1 2024, exceeding sales volumes guidance by 5%, net income of $5.5 million, Adjusted Net Income of $20.3 million, and Adjusted EBITDA of $62.0 million. The company also announced guidance for Q2 2024, with sales volumes of 13,000 to 13,400 Bo/d and capital spending of $37 million to $42 million.
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