Press Release
  

FOR IMMEDIATE RELEASE
January 11, 2016 NYSE American: REI

RING ENERGY, INC. ANNOUNCES FOURTH QUARTER AND YEAR END 2015 OPERATIONS UPDATE

Midland, TX. January 11, 2016 – Ring Energy, Inc. (NYSE American: REI) (“Ring”)(“Company”) today announced its operations update for the fourth quarter and year end of 2015. In the last three months of 2015, the Company drilled and placed into production three new development wells on its Central Basin properties. For the full year of 2015, the Company drilled eight new development wells on its Central Basin properties, re-completed five existing wells from the Glorieta to the San Andres formation and re-fraced three additional wells. On its Delaware Basin property, the Company drilled one new development well, while focusing on infrastructure improvements.

Net production for the quarter ended December 31, 2015 was approximately 218,500 BOEs (Barrel of Oil Equivalent), as compared to net production of 155,100 BOEs for the same quarter in 2014, a 40.9% increase, and as compared to 204,000 BOEs for the third quarter 2015, an increase of approximately 7.1 %. The average estimated price received per BOE in the fourth quarter 2015 was $35.50. December 2015 average net daily production was approximately 2,335 BOEs, as compared to average net daily production of 1,865 BOEs in December 2014, an increase of 25.2%. During the month of December, management estimates the Company lost approximately 13,000 net BOEs due to inclement weather and the Ramsey Gas Plant explosion near Orla, Texas. Total production for 2015 was approximately 742,070 BOEs compared to 482,750 BOEs for 2014, a 53.7% increase.

Mr. Kelly Hoffman, Ring’s Chief Executive Officer, stated, “As current commodity prices remain depressed, our focus has been, and will continue to be, improving the overall operations on our existing properties. Since closing our Delaware Basin acquisition in June 2015, we have dramatically improved the operating efficiencies and production by evaluating each existing well and making the necessary infrastructure improvements and equipment changes that allow for increased pumping capacity resulting in greater production volumes. In the first quarter of 2016 we plan to drill one new development well on our Central Basin property and to continue making improvements on both properties which will add value through increased production and reduced operating costs. Based on recent commodity prices, all of this activity will be financed by existing cash flow and current cash balances. We continue to be patient and have the benefit of a strong balance sheet. We remain flexible and are able to react quickly should an opportunity to acquire an asset that immediately adds value and is accretive at today’s strip prices become available. We are realistic but remain hopeful that in the not-too-distant future we can start the drilling rigs working and resume our development program.”


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, 2015. 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 9, 2016

RING ENERGY, INC. ANNOUNCES COMPLETION OF PUBLIC OFFERING OF COMMON STOCK
 
  December 6, 2016

RING ENERGY, INC. ANNOUNCES PRICING OF
PUBLIC OFFERING OF COMMON STOCK
 
  December 5, 2016

RING ENERGY, INC. ANNOUNCES
COMMON STOCK OFFERING
 
  December 1, 2016

RING ENERGY INC. RELEASES UPDATE ON THREE WELL HORIZONTAL DRILLING PROGRAM
Management Announces Preliminary Capital Expenditure Budget (“CAPEX”) for 2017
 
  November 8, 2016

RING ENERGY INC. ANNOUNCES THIRD QUARTER AND NINE MONTH 2016 FINANCIAL AND OPERATING RESULTS
 
  November 2, 2016

RING ENERGY, INC., SCHEDULES CONFERENCE CALL ON ITS 2016 THIRD QUARTER AND NINE MONTH FINANCIAL AND OPERATING RESULTS
 
  November 1, 2016

RING ENERGY, INC. RELEASES THIRD QUARTER 2016 OPERATIONS UPDATE
 
  September 22, 2016

RING ENERGY INC. RELEASES PRELIMINARY UPDATE ON THREE WELL HORIZONTAL
DRILLING PROGRAM
Company Doubles Net Acreage Related To Horizontal Development Program In Central Basin Platform
 
  August 8, 2016

RING ENERGY INC. ANNOUNCES SECOND QUARTER AND SIX MONTH 2016 FINANCIAL
AND OPERATING RESULTS
 
  July 27, 2016

RING ENERGY, INC. SCHEDULES CONFERENCE CALL ON ITS 2016 SECOND QUARTER AND SIX MONTH FINANCIAL AND OPERATING RESULTS
 
  July 14, 2016

RING ENERGY, INC. ANNOUNCES SECOND QUARTER 2016 OPERATIONS UPDATE
 
  May 9, 2016

RING ENERGY ANNOUNCES FINANCIAL AND OPERATING RESULTS FOR FIRST QUARTER 2016
 
  May 5, 2016

RING ENERGY, INC. ANNOUNCES CAPITAL EXPENDITURE BUDGET OF AN ESTIMATED $23 MILLION FOR REMAINDER OF 2016
 
  May 3, 2016

RING ENERGY, INC. SCHEDULES CONFERENCE CALL ON ITS 2016 1ST QUARTER FINANCIAL
AND OPERATING RESULTS
 
  April 26, 2016

RING ENERGY, INC. ANNOUNCES EXERCISE IN FULL OF OVER-ALLOTMENT OPTION AND COMPLETION OF PUBLIC OFFERING OF
COMMON STOCK
 
  April 21, 2016

RING ENERGY, INC. ANNOUNCES PRICING OF
PUBLIC OFFERING OF COMMON STOCK
 
  April 20, 2016

RING ENERGY, INC. ANNOUNCES
COMMON STOCK OFFERING
 
  April 13, 2016

RING ENERGY, INC. ANNOUNCES FIRST
QUARTER 2016 OPERATIONS UPDATE
 
  March 15, 2016

RING ENERGY ANNOUNCES FINANCIAL AND OPERATIONAL RESULTS FOR FOURTH QUARTER AND YEAR END 2015
 
  March 2, 2016

RING ENERGY, INC. SCHEDULES CONFERENCE CALL ON ITS 2015 4TH QUARTER AND YEAR END FINANCIAL AND OPERATING RESULTS
 
  January 11, 2016

RING ENERGY, INC. ANNOUNCES FOURTH QUARTER AND YEAR END 2015 OPERATIONS UPDATE
 
 
 

 
   
   

HOME • INVESTORSPRESENTATIONSCAREERS • CONTACTDISCLOSURE • TERMS

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.

   
   

 

© Copyright 2012-2017 Ring Energy, Inc. All Rights Reserved