Ring Energy Stock Price, News & Analysis

Ring Energy, Inc. reported strong first quarter 2022 results, with production volumes of 8,870 Boe/d, exceeding guidance. The company achieved a net income of $7.1 million ($0.06/share) and an adjusted net income of $22.3 million ($0.22/share), marking a 125% increase from Q4 2021. Adjusted EBITDA rose 48% to $35.6 million. Free cash flow increased by 36% to $12.6 million, contributing to a $10 million debt reduction. Ring maintains a robust liquidity of $71.4 million and reaffirms its 2022 outlook, targeting increased production and further debt reduction.

Ring Energy (NYSE American: REI) reported operational and financial updates for Q1 2022. Sales volumes reached approximately 8,870 Boe/d, exceeding guidance, attributed to timely well placements and production optimizations. The company generated free cash flow for the 10th consecutive quarter, reducing debt by $10 million, bringing total debt down to $280 million and increasing liquidity to $71 million. Benefiting from higher commodity prices and executing efficient drilling strategies, Ring projects a solid foundation for future growth. Earnings release is scheduled for May 10, 2022.

Ring Energy (REI) reported strong operational and financial results for Q4 2021, highlighting an 11% increase in sales volumes to 9,153 Boe/d and net income of $24.1 million, up 70% from Q3 2021. Full year net income was $3.3 million, a significant recovery from a $253.4 million loss in 2020. Adjusted EBITDA rose 21% year-over-year to $24 million in Q4. The company reduced debt by $23 million and reaffirmed a borrowing base of $350 million. For 2022, Ring plans capital spending of $120-$140 million to support drilling of 25-33 wells, targeting a 10% sales increase.

Ring Energy, Inc. (NYSE American: REI) announced its fourth quarter and full year 2021 earnings release scheduled for March 16, 2022, after market close. A conference call to discuss operational and financial results will be held the following day, March 17, 2022, at 11:00 a.m. ET. Interested participants can join by dialing 833-953-2433 or through an international line at 412-317-5762. The call will also be webcast on the company’s website.

Ring Energy, Inc. (NYSE American: REI) is scheduled to participate in the 34th Annual Roth Conference in Dana Point, California from March 13-15, 2022. CEO Paul McKinney and EVP Alex Dyes will conduct in-person investor meetings. A pre-recorded presentation by McKinney will be available on Ring's website on March 14, 2022. Additionally, Ring will attend the 50th Annual Scotia Howard Weil Energy Conference in New Orleans from March 21-23, 2022, with an updated investor deck posted online on March 22, 2022.

Ring Energy, Inc. (NYSE American: REI) reports strong fourth quarter 2021 sales volumes of 9,154 BOEPD, an 11% increase from Q3 2021. Full-year sales volumes reached 8,519 BOEPD. The company reduced debt by $5 million, bringing total reductions to $85 million since Q2 2020. Ring commenced its 2022 drilling program in late January, having already drilled two wells. The enhanced hedge position is set at 1,000 BOPD with an average swap price of $84.61. The company ended the year with $290 million in borrowings and $2.4 million cash on hand, increasing liquidity to nearly $62 million.

Ring Energy, Inc. (NYSE American: REI) has raised its fourth quarter 2021 sales guidance to between 9,000 and 9,300 barrels of oil equivalent per day, thanks to strong production results from its recent drilling programs. The completion of the Phase IV program, which targeted high-return wells, capped off a successful year with 11 wells drilled and 13 completed. The company plans a continuous one-rig drilling program for 2022, focusing on enhancing production and cash flow while reducing debt. Stronger oil prices are expected as hedges roll off, positioning Ring for improved financial performance.

The Woodlands, Texas, Dec. 09, 2021 – Ring Energy, Inc. (NYSE American: REI) announced the reaffirmation of its borrowing base under its senior revolving credit facility at $350 million. The bank redetermination reflects confidence from its banking group and supports the company's capital spending programs and debt repayment capabilities. Current hedging requirements for 2022 remain unchanged, fully covered by existing hedges. The next bank redetermination is scheduled for May 2022, allowing Ring to benefit from improved oil prices as hedges roll off by year-end.