About US
REI is a Midland, Texas-headquartered oil and gas exploration and Development Company with three core areas of operation in the Permian Basin; the Central Basin Platform, the Northwest Shelf and the Delaware Basin. The management team of REI has extensive experience in studying, drilling and producing the San Andres formation over the past 35 years and has drilled approximately 1,400 wells to date. Since REI’s inception in 2013 the Company has drilled 183 vertical wells and over 137 horizontal San Andres wells on their existing Central Basin Platform and Northwest Shelf assets to date. REI suspended its 2020 drilling program starting in Q2’20 to conserve capital until the economic demand erosion is reversed due to COVID-19. The company’s primary focus through year end 2020 is to remain cash flow positive quarter-over-quarter while deleveraging the balance sheet. In early 2021 the company anticipates resuming its horizontal San Andres drilling program out of cash flow once oil prices stabilize above $40/bbl.
Our Mission
Over the past 40 years REI’s management team has experienced multiple cycles and understands the need to keep overhead and operating costs low. Applying these principles, REI achieved positive cash flow in Q4’19 and continued to maintain a free cash flow (“FCF”) position through Q1’20 and Q2’20. This accomplishment was achieved within three years of their San Andres horizontal pilot program that began the end of 2016. REI’s 2020 plan is to drill out of cash flow and remain FCF positive, improve efficiencies wherever possible, and reduce long-term debt while continuing to provide year-over-year production growth.