Ring Energy Stock Price, News & Analysis

Ring Energy, Inc. (NYSE American: REI) has officially announced the timing for its third quarter 2021 earnings release. The earnings report will be published after market close on November 9, 2021. Following this, a conference call will occur on November 10, 2021 at 11:00 a.m. ET to discuss the operational and financial results. Interested participants can join by calling 833-953-2433 or 412-317-5762 for international callers. More details can be found on Ring's website under the Investors section.

Ring Energy, Inc. will participate in EnerCom's The Oil and Gas Conference on August 18 in Denver, Colorado. Chairman and CEO Paul McKinney is set to present at 10:30 AM Mountain Time. In addition to the presentation, senior management will engage in one-on-one meetings with investors. The presentation will be available via live webcast and archived on Ring's website, where an updated investor slide deck will also be posted on August 17. Ring Energy focuses on oil and gas exploration and production, particularly in the Permian Basin.

Ring Energy reported operational and financial results for Q2 2021, selling 8,709 Boe/d (89% oil), a notable increase of 11% from Q1 2021. While the company faced a net loss of $15.9 million or $0.16 per share, it achieved an Adjusted Net Income of $7.3 million and generated Free Cash Flow of $5.6 million. The company paid down $5 million of debt and initiated a four-well Phase III drilling program due to rising crude oil prices. Sales volumes are expected to reach 8,700-9,200 Boe/d in H2 2021, supported by strategic drilling and operational efficiencies.

Ring Energy, Inc. (NYSE American: REI) will announce its second quarter 2021 earnings on August 9, 2021, after the market closes. A conference call to discuss the financial and operational results will be held on August 10, 2021, at 9:00 a.m. Central Time. Interested participants can join via a toll-free number or through a webcast on the company's website. Ring Energy primarily focuses on oil and gas exploration and production in the Permian Basin across West Texas and New Mexico.

Ring Energy, Inc. (NYSE American: REI) announced successful results from its Phase II drilling program in Yoakum County, Texas. Three new wells achieved an average production of approximately 300 barrels of oil per day per well shortly after coming online. The company's working interest in these wells is around 74%. All seven wells from both Phase I and II were completed on time and within budget. With favorable production outcomes and a robust oil price environment, the company plans to initiate Phase III in the third quarter of 2021, aiming to maximize free cash flow.

Ring Energy, Inc. (NYSE American: REI) announced the reaffirmation of its senior revolving credit facility borrowing base at $350 million. This revision also eases the minimum required oil hedges for 2022 from 4,000 Bbls/d to 3,100 Bbls/d, ensuring full coverage by existing hedges. The changes are expected to enhance cash flow generation for 2021 and offer greater price optionality. The next bank redetermination is scheduled for November 1, 2021. The CEO highlighted improved economic conditions and operational strategies as factors contributing to this positive outcome.

Ring Energy, Inc. (NYSE American: REI) provided an update on its derivative positions, highlighting a shift to a more opportunistic hedging strategy due to improved crude oil prices. Key adjustments include the buyback of a 1,500 Bbl/d call option for 2021 and new swap contracts targeting approximately 879 Bbl/d for 2022, both at favorable prices. The company anticipates over 320,000 barrels of crude oil sales at prices exceeding $55.35 per barrel. Increased cash flow from these sales will primarily be utilized to pay down debt, enhancing financial stability.

Ring Energy, Inc. reported operational and financial results for Q1 2021, marking the sixth consecutive quarter of positive Free Cash Flow at $2.9 million. Despite a net loss of $19.1 million, or $0.19 per share, adjusted net income was $7.0 million, or $0.07 per share. Production averaged 7,960 Boe/d, impacted by a severe winter storm. The company reduced debt by $7.5 million and reaffirmed its full year guidance, expecting to drill 6 to 8 new wells. Revenues increased to $39.5 million, thanks to higher commodity prices, despite a decline in sales volumes.

Ring Energy, Inc. (NYSE American: REI) announced its financial update for Q1 2021, reporting a $7.5 million debt reduction, bringing the total to $305.5 million against a $350 million borrowing base. Liquidity improved to $46.2 million. The Northwest Shelf (NWS) drilling program produced 37,550 barrels of oil equivalent in March. Average net sales were 7,960 Boepd for Q1, affected by a severe winter storm. However, guidance for 2021 net sales remains at 9,000 to 9,500 Boepd. The earnings release is scheduled for May 10, with a conference call on May 11.