Press Release
  

FOR IMMEDIATE RELEASE
April 22, 2014 NYSE American: REI

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

Midland, TX. April 22, 2014 - Ring Energy, Inc. (NYSE American: REI) (“Ring”) (“Company”) today announced its operations update for the first quarter of 2014. In the first three months of 2014, Ring drilled 24 development wells on their Texas properties, 15 of which were completed and placed in production by March 31, 2014. The remaining nine development wells are in varying stages of completion and will be placed in production in the second quarter. In addition, the Company performed one re-completion in the first quarter of 2014. The Company continues to have a 100% success rate on development wells drilled on their Texas acreage.

As a result of the continuing development program, net production for the quarter ended March 31, 2014 was approximately 69,650 BOEs (Barrel of Oil Equivalent), as compared to net production of 14,088 BOEs for the same quarter in 2013, a 394% increase. March 2014 average net daily production was approximately 900 BOEs, as compared to daily production of 127 BOEs in March 2013, an increase of 609%.

Ring management reconfirmed the initiation of their joint venture pilot drilling program in Kansas. The Company intends on drilling the first five wells of a ten well program, evaluate the information and release their findings by mid-June.

The Company also announced it has increased its capital expenditure budget for 2014 to $115 million. The increase is due to the acceleration of its current development program and on-going leasing and acquisition activity. The budget includes the drilling of a minimum of 130 development wells, multiple workovers and re-stimulations of existing wells on their Texas acreage, continued leasing activity, infrastructure additions and improvements. The budget will be funded by cash on hand, increasing cash flow from operations and current credit facility. Management has stated that should a decision be made to further accelerate its current development program in Texas, initiate a full-scale development program in Kansas based on the results of the ten well pilot program or have the opportunity to make an acquisition of size that would complement the Company’s current assets, they would consider going back to the equity market under favorable conditions.

Mr. Kelly Hoffman, Ring’s Chief Executive Officer, stated, “We feel we lost the equivalent of one week’s production in the first quarter because of weather related setbacks in January. That being said, we are extremely pleased with the results of the first quarter. We continue to execute our development plan and add acreage to our core properties while continuing to seek acquisition opportunities. We now have two full-time drilling rigs working on our Texas properties and as we drill these wells we will not only increase production and cash flow, but add new reserves as well.”


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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