Press Release
  

FOR IMMEDIATE RELEASE
January 14, 2014 NYSE American: REI

RING ENERGY, INC. PROVIDES FOURTH QUARTER 2013 OPERATIONS UPDATE
Announces 2014 Capital Expenditure Budget of $90 Million

MIDLAND, Texas — Ring Energy, Inc. (NYSE American: REI) (“Ring”) (“Company”) today announced its operations update for the fourth quarter of 2013. In the last three months of 2013, Ring drilled 17 development wells, 15 of which were completed and placed in production by year-end. The remaining two development wells are in varying stages of completion and will be placed in production in early 2014. In addition, the Company performed three re-fracs and re-completions in the fourth quarter of 2013. For the full year of 2013, the Company drilled 40 development wells, with 38wells being completed and placed in production by year-end. The Company had a 100% success rate on development wells drilled and completed in 2013. The Company also performed 18 re-fracs and re-completions in 2013.

As a result of the continuing development program, net production for the quarter ended December 31, 2013 was approximately 64,010 BOEs (Barrel of Oil Equivalent), as compared to net production of 9,712 BOEs for the same quarter in 2012, a 559% increase, and as compared to 29,527 BOEs for the third quarter 2013, an increase of approximately 117%. December 2013 net daily production was approximately 806 BOEs, as compared to daily production of 114 BOEs in December 2012, an increase of 607%. Total production for 2013 was approximately 121,695 BOEs compared to 25,172 BOEs for 2012, a 383% increase.

Ring also announced a capital expenditure budget for 2014 of $90 million. Mr. Tim Rochford, Ring’s Chairman stated, “This budget reflects the Company’s plans to accelerate the present development schedule of its operations in its Permian Basin properties. The budget includes the drilling of a minimum of 105 development wells, multiple workovers and re-stimulations of existing wells, continued leasing activity, infrastructure additions and improvements. The budget will be funded by proceeds from our recently completed public stock offering, increasing cash flow from operations and current credit facility. Ring has not budgeted for acquisitions; however, the Company continues to actively pursue future acquisition opportunities.”

Mr. Kelly Hoffman, Ring’s Chief Executive Officer, stated, “The development program we implemented in June, 2013 resulted in more than tripling our production from 2012. Our operations and field personnel have done a tremendous job of lowering costs and improving efficiencies. We initially projected drilling 30 – 35 new development wells and ended up drilling 40 in 2013. Also, we exceeded our initial projection of re-fracs and restimulations of existing wells. As we begin 2014, we are encouraged by the results we are seeing and have budgeted a second drilling rig to be on site by mid-year. In addition, we anticipate drilling our first vertical well in Kansas in February under the joint development agreement we entered into with Torchlight Energy Resources, Inc. in October, 2013. Although we are focusing our efforts on increasing our leased acreage position and the development of our current leases, we will continue to actively pursue strategic acquisitions in 2014 that compliment our existing properties.”


About Ring Energy, Inc.
Ring Energy, Inc. is an oil and gas exploration, development and production company with current operations in Texas and Kansas.

Safe Harbor Statement

This release contains forward-looking statements within the meaning of the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995 that involve a wide variety of risks and uncertainties, including, without limitations, statements with respect to the Company’s strategy and prospects. Such statements are subject to certain risks and uncertainties which are disclosed in the Company’s reports filed with the SEC, including its Form 10-K for the fiscal year ended December 31, 2013, its Form 10-Q for the quarter ended September 30, 2014 and its other filings with the SEC. Readers and investors are cautioned that the Company’s actual results may differ materially from those described in the forward-looking statements due to a number of factors, including, but not limited to, the Company’s ability to acquire productive oil and/or gas properties or to successfully drill and complete oil and/or gas wells on such properties, general economic conditions both domestically and abroad, and the conduct of business by the Company, and other factors that may be more fully described in additional documents set forth by the Company.

For further information contact:
Bill Parsons, K M Financial, Inc.
(702) 489-4447 office
(602) 315-5926 mobile



 
  December 2, 2014

RING ENERGY, INC. CONTINUES
2014 DEVELOPMENT PROGRAM

Company Operates Profitably At Current Commodity Prices
 
  November 6, 2014

RING ENERGY, INC.ANNOUNCES THIRD QUARTER AND NINE MONTH 2014 FINANCIAL AND OPERATING RESULTS
Third Quarter 2014 Revenues Increase 287% Over Third Quarter Revenues 2013
Nine Month 2014 Revenues Increase 434% Over Nine Month Revenues 2013
 
  October 7, 2014

RING ENERGY, INC.PROVIDES THIRD QUARTER
2014 OPERATIONS UPDATE

Production Increases 19% Over Second Quarter
Company Adds Third Drilling Rig
Company Increases 2014 CAPEX to $125 Million
 
  August 8, 2014

RING ENERGY, INC. ANNOUNCES SECOND QUARTER AND SIX MONTH 2014 FINANCIAL AND OPERATING RESULTS
88% Increase in Revenue Over First Quarter

142% Increase in Revenue Over First Quarter
83% Increase in Revenue Over First Quarter
 
  July 15, 2014

RING ENERGY, INC. PROVIDES SECOND QUARTER 2014 OPERATIONS UPDATE
Second Quarter Production Increases 69% Over First Quarter 2014
Company Provides Update on Kansas Joint Venture Pilot Drilling Program
 
  June 17, 2014

RING ENERGY, INC. ANNOUNCES $30 MILLION PRIVATE PLACEMENT OF COMMON STOCK
Company Also Establishes New Credit Facility
 
  May 8, 2014

RING ENERGY, INC. ANNOUNCES FINANCIAL RESULTS FOR FIRST QUARTER 2014
418% Increase in revenue For The Three Months to $5.97 Million
221% Increase in Net Income For The Three Months to $1.1 Million
 
  April 22, 2014

RING ENERGY, INC. PROVIDES
FIRST QUARTER 2014 OPERATIONS UPDATE
2014 Capital Expenditure Budget Increased
to $115 Million
 
  March 21, 2014

RING ENERGY ANNOUNCES FINANCIAL AND OPERATIONAL RESULTS FOR FOURTH QUARTER AND YEAR END 2013
2013 Revenues Increase 487%
2013 Cash Flow Increases 817%
Fourth Quarter Revenues Increase 609%
 
  March 4, 2014

RING ENERGY, INC. CLOSES PERMIAN BASIN ACREAGE ACQUISITION
Adds Reserves, Drilling Locations / Contracts Second Drilling Rig
 
  January 14, 2014

RING ENERGY, INC. PROVIDES FOURTH QUARTER 2013 OPERATIONS UPDATE
 
 
 

 
   
   

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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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