Press Release
  

FOR IMMEDIATE RELEASE
April 13, 2016 NYSE MKT: REI

RING ENERGY, INC. ANNOUNCES FIRST QUARTER 2016 OPERATIONS UPDATE

Midland, TX. April 13, 2016 – Ring Energy, Inc. (NYSE MKT: REI) (“Ring”)(“Company”) today announced its operations update for the first quarter of 2016. In the first three months of 2016, the Company drilled and completed one new vertical development well on Ring’s Central Basin Platform asset. In addition, the Company upgraded their salt water disposal systems at both the Central Basin Platform and Delaware Basin properties.

As a result, net production for the quarter ended March 31, 2016 was approximately 225,500 BOEs (Barrel of Oil Equivalent), as compared to net production of 141,920 BOEs for the same quarter in 2015, a 58.9% increase, and net production of 218,500 for the fourth quarter of 2015, a 3.2% increase. March 2016 average net daily production was approximately 2,370 BOEs, as compared to daily production of 1,615 BOEs in March 2015, an increase of 46.7%. The average estimated price received per BOE in the first quarter 2016 was $26.24.

Mr. Kelly Hoffman, Ring’s Chief Executive Officer, stated, “Our staff has done an excellent job as we continue to upgrade our infrastructures in both the Central Basin Platform and Delaware Basin. Despite the fact we drilled only one new development well, our net production increased over the previous quarter. This modest increase in production, despite only drilling one new well, demonstrates the low decline nature of our production profile as well as continued operational improvements in the field. As we shared with you in our 2015 fourth quarter and year-end financial release and subsequent conference call, we have continued to study and evaluate the successful horizontal operations by surrounding producers in select areas. Based on the results they are experiencing, we are very excited about the potential we have to include a horizontal program in both of our core areas even in today’s pricing environment and are currently exploring how to implement those horizontal techniques to exploit our assets. ”


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, 2014, its Form 10-Q for the quarter ended March 31, 2015 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 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. SCHEDULES CONFERENCE CALL ON ITS 2016 SECOND QUARTER AND SIX MONTH 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