Ring Energy - REI STOCK NEWS

On April 17, 2023, Ring Energy, Inc. (NYSE American: REI) announced its participation in the EnerCom Dallas Conference. CEO Paul McKinney is set to present on April 18 at 9:15 AM CDT, with senior management conducting one-on-one investor meetings. The presentation will be live-streamed and archived on the company’s website. An updated investor slide deck will also be available in the ‘Investors’ section of the site. Ring Energy focuses on oil and gas exploration and production, particularly in the Permian Basin in West Texas, aiming to enhance shareholder engagement through this event.

Ring Energy, Inc. (NYSE American: REI) announced an amendment to 14,512,166 outstanding warrants, reducing their exercise price to $0.62 per share. In exchange for early exercise, the company received $8,997,543 in gross proceeds and issued the same number of common shares. Following this action, only 78,200 warrants remain outstanding. CEO Paul D. McKinney expressed satisfaction with these early exercises, highlighting the positive impact on the company's balance sheet and capital structure. The original exercise price was $0.80 per share, part of a registered direct offering from 2020. The common stock issuance is covered by a previous registration statement with the SEC.

Ring Energy reported strong operational and financial results for Q4 and FY 2022, fueled by the Stronghold Energy acquisition. Q4 2022 sales volumes reached a record 17,856 Boe/d, a 34% increase from Q3. Full-year sales volumes grew 45% to 12,364 Boe/d. Net income for Q4 was $14.5 million, down from $75.1 million in Q3, while full-year net income soared to $138.6 million. Adjusted EBITDA hit $56.3 million for Q4 and $195.2 million for FY 2022, a 134% increase year-over-year. The company forecasts a 40% rise in 2023 sales volumes, with capital spending planned between $135 million and $170 million.

Ring Energy, Inc. (NYSE American: REI) announced the timing of its upcoming earnings release and conference call. The company plans to issue its fourth quarter and full year 2022 earnings release on March 9, 2023, after the market closes. A conference call will follow on March 10, 2023, at 11:00 a.m. ET to discuss operational and financial results. Interested parties can join by dialing 833-953-2433 or via the webcast on Ring's website. Ring focuses on oil and gas exploration and production, particularly in the Permian Basin of West Texas.

Ring Energy reported strong third-quarter 2022 results, showcasing a record revenue of $94.4 million, an 11% increase from Q2. Driven by the Stronghold acquisition, production rose to 13,278 Boe/d, a significant improvement from 9,341 Boe/d in Q2. Net income surged 79% to $75.1 million or $0.49 per diluted share. Adjusted EBITDA reached $56 million, an 18% quarter-over-quarter increase. Liquidity improved to $165 million, while the leverage ratio decreased to 1.4x. Fourth quarter guidance remains strong, projecting sales volumes of 18,000 to 19,000 Boe/d.

Ring Energy, Inc. (NYSE American: REI) announced its third quarter 2022 earnings release schedule. The earnings will be published after the market closes on November 9, 2022. A conference call to discuss the results is set for November 10, 2022, at 11:00 a.m. ET. Interested parties can join the call via phone or webcast on the company's website. Ring Energy focuses on the exploration, development, and production of oil and gas, specifically targeting its Permian Basin assets in West Texas and New Mexico.

Ring Energy, Inc. (NYSE American: REI) announced an operational update for Q3 and revised guidance for Q4 2022, alongside a preliminary outlook for 2023. The company drilled eight horizontal wells and completed nine in Q3, maintaining production guidance of 18,000 to 19,000 barrels of oil equivalent per day despite a 15% reduction in capital expenditures for Q4, now estimated at $42 million to $46 million. For 2023, Ring anticipates capital expenditures between $150 million and $175 million, reflecting ongoing operational efficiency and flexibility in response to commodity price fluctuations.