Ring Energy Inc. announced today a preliminary capital expenditure budget for 2019 of approximately $154 million. The preliminary budget includes the estimated cost to drill 50 new horizontal wells and the total expenditures incurred in the first quarter of 2019 by both Ring and the Northwest Shelf assets acquired from Wishbone Energy Partners. Management noted they will release a complete 2019 capital expenditure budget [...]
Ring Energy Inc. today released its operations updates for the first quarter of 2019. In the three months ended March 31, 2019, the Company, employing one drilling rig, drilled seven new horizontal wells and four salt water disposal wells. The Company drilled six new horizontal San Andres wells on its Central Basin Platform asset, five wells which were one mile in length and one well which was one and a half miles in [...]
Ring Energy Inc. announced today that it has closed its transaction with Wishbone Energy Partners, LLC, Wishbone Texas Operating Company LLC and WB WaterWorks, LLC to acquire their Northwest Shelf assets located primarily in southwest Yoakum County, Texas and eastern Lea County, New Mexico. The total adjusted purchase price for the acquisition was approximately $291 million, comprised of approximately $264 million of cash [...]
Ring Energy Inc. announced today financial results for the three months and twelve months ended December 31, 2018. For the three month period ended December 31, 2018, the Company reported oil and gas revenues of $27,561,908, compared to revenues of $23,308,668 for the quarter ended December 31, 2017. For the twelve months ended December 31, 2018, the Company reported oil and gas revenues of $120,065,361, compared to [...]
Ring Energy Inc. announced today that it has entered into a definitive agreement with Wishbone Energy Partners, LLC and its affiliates to acquire its North Central Basin Platform assets located primarily in Southwest Yoakum County, Texas and East Lea County, New Mexico. The total purchase price for the acquisition is $300 million, comprised of $270 million of cash and $30 million of common stock of the Company. SunTrust [...]
Ring Energy Inc. announced today reserve information as of December 31, 2018 and financial results for the three months and twelve months ended December 31, 2018. Following is a summary of our approximate financial results: • Oil sales volume 4Q – 542,964 Year – 2,047,295 • Gas sales volume 4Q – 418,165 Year – 1,311,727 • Total sales volume 4Q – 592,446 Year – 2,232,658 [...]
Ring Energy Inc. has scheduled a conference call on Wednesday, February 27, 2019 at 11:00 a.m. ET to discuss the 2018 fourth quarter and twelve month financial and operating highlights. Ring expects to issue a press release summarizing these results after the close of market on Tuesday, February 26, 2019. To participate, dial 877-709-8150 at least five minutes before the call is to begin. Please reference the Ring Energy [...]
EnerCom Dallas oil and gas investment conference opens next week; register online this week to ensure admittance Special Expert Appearances - A precarious balance: the oil market in 2019 - by Dallas Federal Reserve Bank Senior Research Economist Michael D. Plante, Ph.D. - U.S. petroleum exports are booming in South Texas - by Port of Corpus Christi CEO Sean Strawbridge - What is the true value of the oil & gas industry [...]
- EnerCom Dallas will feature presentations from C-level executives at publicly traded and private oil and natural gas companies - One-on-one meetings are now open for buyside investors to schedule with management teams through the conference registration page - Register online at the conference website - Presenting company schedule is posted EnerCom's Texas-based oil and gas investment conference—EnerCom [...]
Oil industry senior management teams will discuss 2019 drilling plans at the EnerCom Dallas investment conference Institutional investors, portfolio managers, financial analysts, CIOs and other investment community professionals who invest in the energy sector should register online and attend the EnerCom Dallas investment conference, which is coming to The Tower Club Feb. 27-28, in the Thanksgiving Tower, downtown [...]
Ring Energy Inc. today released its operations updates for the fourth quarter and twelve months of 2018. In the three months ended December 31, 2018, the Company drilled 12 new horizontal wells. The Company drilled eight new horizontal San Andres wells on its Central Basin Platform asset, one new horizontal San Andres well on its North Gaines Property and three new horizontal Brushy Canyon wells on its Delaware Basin [...]
Ring Energy Inc. announced today that it has closed its transaction with Tessara Petroleum Resources, a wholly owned subsidiary of The Carlyle Group L.P. , for assets located in Andrews County, Texas. Ring issued 2,623,948 million shares of its common stock valued at $5.80 per share. The transaction has an effective date of November 1, 2018. The assets consist of 4,763 net acres. Ring will be the operator, have a 100 [...]
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