Ring Energy Announces Sonu Johl Named New Chief Financial Officer
Rhea-AI Summary
Ring Energy (NYSE American: REI) named Sundip “Sonu” Singh Johl as Executive Vice President, Chief Financial Officer and Treasurer, effective February 27, 2026. Mr. Johl brings more than 20 years of upstream energy investment banking and corporate finance experience, including senior roles at Raymond James, UBS, and Citi.
His background includes leadership in M&A, capital markets, valuation, and financial strategy, plus an MBA from the Darden Graduate School of Business Administration.
Positive
- CFO start date set for February 27, 2026
- More than 20 years of upstream energy investment banking experience
- Managing Director, Co-Head of Energy Investment Banking at Raymond James (2020–Jan 2026)
- Managing Director, Co-Head of E&P at UBS Investment Banking (2018–2020)
- Director at Citi Investment Banking Global Energy Group (2009–2018)
- Holds an MBA from Darden and a BS in Electrical Engineering
Negative
- None.
News Market Reaction – REI
On the day this news was published, REI gained 4.39%, reflecting a moderate positive market reaction. This price movement added approximately $10M to the company's valuation, bringing the market cap to $236M at that time. Trading volume was elevated at 2.2x the daily average, suggesting notable buying interest.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
REI was down 4.2% while key peers were mixed: INR +4.89%, BRY +1.56%, PNRG +2.85%, WTI +5.31%, and HUSA -1.37%, pointing to a stock-specific move around this management news.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 16 | Credit facility update | Positive | -2.1% | Borrowing base reaffirmed at $585M under $1.0B senior revolving credit facility. |
| Dec 03 | Investor outreach | Positive | +3.9% | Announcement of Water Tower Research fireside chat on strategy and capital plans. |
| Nov 06 | Q3 2025 earnings | Neutral | -0.3% | Reported Q3 loss driven by non-cash impairment but positive adjusted metrics and FCF. |
| Oct 16 | Earnings timing | Neutral | -8.6% | Set dates and call details for upcoming Q3 2025 earnings release and webcast. |
| Sep 12 | CFO resignation | Negative | -4.7% | Immediate resignation of CFO; Interim CFO appointed while search for replacement begins. |
Recent news often drew muted or negative reactions, including prior CFO transition headlines that coincided with share weakness.
Over the past few months, Ring Energy has focused on balance sheet stability and communication with investors. The borrowing base under its $1.0 billion credit facility was reaffirmed at $585 million on Dec 16, 2025, while a fireside chat on Dec 9, 2025 highlighted capital budgeting and leverage goals. Q3 2025 results showed a non-cash impairment and a net loss but positive adjusted metrics. Earlier, the immediate departure of the prior CFO on Sep 12, 2025 introduced management transition risk, which today’s permanent CFO appointment directly follows up on.
Market Pulse Summary
This announcement fills the CFO role vacated on Sep 12, 2025, transitioning from an interim structure to a permanent hire with more than 20 years of upstream finance and M&A experience. It follows a period marked by a reaffirmed $585 million borrowing base and a Q3 2025 net loss driven by a non-cash impairment. Investors will likely watch how the new CFO shapes capital allocation, balance sheet priorities, and future strategic transactions.
Key Terms
mergers and acquisitions financial
capital markets financial
investment banking financial
AI-generated analysis. Not financial advice.
THE WOODLANDS, Texas, Feb. 03, 2026 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today announced that Mr. Sundip (“Sonu”) Singh Johl will be joining the Company as its Executive Vice President, Chief Financial Officer and Treasurer effective February 27, 2026.
Mr. Johl brings more than 20 years of experience across upstream oil and gas investment banking, corporate finance, and strategic advisory roles, with deep expertise in mergers and acquisitions, capital markets, valuation, and financial strategy. From 2020 through January 2026, Mr. Johl was Managing Director, Co-Head of Energy Investment Banking at Raymond James & Associates, Inc., where he advised public and private E&P companies doing business in the Permian Basin as well as other major U.S. onshore basins. From 2018 to 2020, Mr. Johl was Managing Director, Co-Head of E&P at UBS Investment Banking Global Energy Group. From 2009 to 2018, Mr. Johl was a Director at Citi Investment Banking Global Energy Group. He has a Bachelor of Science degree in Electrical Engineering from San Jose State University and a Master of Business Administration degree from the Darden Graduate School of Business Administration at the University of Virginia.
Mr. Paul D. McKinney, Chairman of the Board and Chief Executive Officer, commented, “We are excited to welcome Sonu Johl to our executive management team. His many years of experience in upstream E&P banking, corporate finance and strategic advisory services for public energy producers will be invaluable to us as we continue our path toward building size and scale while creating value for our shareholders.” Mr. McKinney continued, “We have known and worked with Sonu for several years in his investment banking capacity and are confident he will leverage his knowledge and experience toward elevating Ring’s financial and capital markets business acumen. We look forward welcoming him to the Ring family.”
About Ring Energy, Inc.
Ring Energy, Inc. is an oil and gas exploration, development, and production company with current operations focused on the development of its Permian Basin assets. For additional information, please visit www.ringenergy.com.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements involve a wide variety of risks and uncertainties, and include, without limitation, statements with respect to the Company’s strategy and prospects, and the expected impact and timing of any new personnel or expected personnel transitions. Such statements are subject to certain risks and uncertainties which are disclosed in the Company’s reports filed with the Securities and Exchange Commission, including its Form 10-K for the fiscal year ended December 31, 2024, and its other filings. Ring undertakes no obligation to revise or update publicly any forward-looking statements, except as required by law.
Contact Information
Al Petrie Advisors
Al Petrie, Senior Partner
Phone: 281-975-2146
Email: apetrie@ringenergy.com
FAQ
Who is Ring Energy's new CFO and when does REI's CFO start?
What experience does Ring Energy say the new REI CFO brings?
What roles did Sundip Johl hold before joining Ring Energy (REI)?
Does Ring Energy (REI) describe the expected impact of the new CFO?
What are Sundip Johl’s educational credentials listed by Ring Energy for the REI CFO role?
