OPERATIONS
 


Midland, Texas based E&P company focused on domestic exploration and production of oil
and natural gas with current operations in Texas and Kansas

• Year End 2015 Reserves:
• 24.4 MMBOE of proven reserves
• 33% Developed
• 91% Oil
• PV-10 of $240.2 million¹
• Probable Reserves – 10.8 MMBOE PV-10 of $61.1 million³
• Possible Reserves – 1.8 MMBOE PV-10 of $7.3 million³

• 63,599 gross acres (49,955 Net) as of 12/31/15
• Central Basin Platform gross acres 30,663 (18,130 Net)
• Delaware Basin gross acres 19,983 (19,679 Net)
• Kansas gross acres 17,631 (16,673 Net)
• December 2015 average net production: 2,335 BOE/D

• Multi-Year Drilling Inventory
• Control of Operations and CAPEX
• Experienced Management

¹ According to report audited by an independent professional engineering firm using year end 2015 SEC pricing
of $48.17 per barrel of oil and $2.51 per MCF of gas.
² Includes PV-10 of All Proved, Probable and Possible Reserves
³ Based on internal engineering study of Texas properties only - using $47.59 per barrel of oil
and $1.99 per Mcf of gas


 


Permian Basin

• 80 years of production – 30 billion barrels produced
• Contains estimated 22% of remaining U.S. oil reserves and 29% of estimated U.S. reserve growth

San Andres Zone Facts 1
• 6 billion San Andres barrels produced in the Permian Basin
• 2.15 billion barrels produced from Central Basin San Andres

San Andres Geology
• Lithology = Limestone & Dolomite
• Average Well Depth – 4,800 feet
• Average Zone Thickness – 200 feet
• Porosity – 8% to 16%

1 Source: National Energy Technology Laboratory (5/04)



 


Delaware Basin

• Acquired assets from private company for $75MM in June 2015
• Financed the acquisition with a $51.75MM equity issuance and fundings under the upsized revolver of $100 million borrowing base
• 15,154 net acres (98% WI; 78% NRI)
• Increased net Permian acreage position by ~80%
• Immediate opportunities to increase production without drilling
(low hanging fruit)
• December net production of ~1,075 Boe/d (67% oil)
• 78 vertical PDP wells
• Continued focus on vertical well development

Recent Improvements

• Drilled one new development well in Q4
• Evaluating existing wells and condition of current infrastructure
• First priority was to upgrade the salt water disposal system. The system is now capable of handling much greater amounts of water to accommodate increased drilling and development



 


Kansas Leasehold

Gray, Finney & Haskell Counties, Kansas

• Low Entry Cost
• Favorable Terms on Long Term Leasehold of 17,631 gross acres and 16,673 net acres.
• Entered into joint development agreement. Initiated pilot development program Q1 2014.
• Shot extensive 3D seismic in Q4 2014.
• Further development on hold
• 95% – 100% WI / 76% – 80% NRI

 


 
     
   
   

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Ring Energy, Inc. is an independent oil and gas exploration company with headquarters in Midland, Texas. Ring Energy’s business strategy is focused on the exploration, development and acquisition of oil and natural gas properties in the Permian and Mid-Continent regions of the United States.

   
   

 

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