Exhibit 99.1

FOR IMMEDIATE RELEASE

RING ENERGY RELEASES SECOND QUARTER AND SIX MONTH 2019 FINANCIAL AND OPERATIONAL RESULTS

Midland, TX. August 7, 2019 - Ring Energy, Inc. (NYSE American: REI) (“Ring”)(“Company”) announced today financial results for the three months and six months ended June 30, 2019. For the three month period ended June 30, 2019, the Company reported oil and gas revenues of $51,334,225, compared to revenues of $29,924,883 for the quarter ended June 30, 2018. For the six months ended June 30, 2019, the Company reported oil and gas revenues of $93,132,540, compared to $59,816,274 for the six months ended June 30, 2018.

For the three months ended June 30, 2019, Ring reported net income of $12,375,256, or $0.18 per diluted share, compared to net income of $4,719,806, or $0.08 per fully diluted share for the three months ended June 30, 2018. For the six months ended June 30, 2019, the Company reported net income of $23,464,697, or $0.36 per diluted share, compared to net income of $10,385,440, or $0.17 per fully diluted share for the six month period ended June 30, 2018.

For the three months ended June 30, 2019, the net income included a pre-tax unrealized gain on derivatives of $1,530,230 and a non-cash charge for stock-based compensation of $808,734. Excluding these items, the net income per diluted share would have been $0.17. For the six months ended June 30, 2019, the net income included a pre-tax unrealized gain on derivatives of $1,189,545 and a non-cash charge for stock-based compensation of $1,643,199. Excluding these items, the net income per diluted share would have been $0.36. The Company believes results excluding this item are more comparable to estimates provided by security analysts and, therefore, are useful in evaluating operational trends of the Company and its performance, compared to other similarly situated oil and gas producing companies.

For the three months ended June 30, 2019, oil sales volume increased to 893,304 barrels, compared to 469,446 barrels for the same period in 2018, a 90.3% increase, and gas sales volume increased to 569,482 MCF (thousand cubic feet), compared to 319,056 MCF for the same period in 2018, a 78.5% increase. On a barrel of oil equivalent (“BOE”) basis for the three months ended June 30, 2019, production sales were 988,218 BOEs, compared to 522,622 BOEs for the same period in 2018, an 89.1% increase, and 878,609 BOEs for the first quarter of 2019, a 12.4% increase. For the six months ended June 30, 2019, oil sales volume increased to 1,705,868 barrels, compared to 949,310 barrels for the same period in 2018, a 79.7% increase, and gas sales volume increased to 965,746 MCF, compared to 529,087 MCF for the same period in 2018, a 82.5% increase. On a BOE basis for the six months ended June 30, 2019, production sales increased to 1,866,826 BOEs, compared to 1,037,491 BOEs for the same period in 2018, a 79.9% increase.

The average commodity prices received by the Company were $56.86 per barrel of oil and $0.95 per MCF of natural gas for the quarter ended June 30, 2019, compared to $61.70 per barrel of oil and $3.02 per MCF of natural gas for the quarter ended June 30, 2018. On a BOE basis for the three month period ended June 30, 2019, the average price received was $51.94. The average prices received for the six months ended June 30, 2019 were $53.74 per barrel of oil and $1.51 per MCF of natural gas, compared to $61.21 per barrel of oil and $3.24 per MCF of natural gas for the six month period ended June 30, 2018. On a BOE basis for the six month period ended June 30, 2019, the average price received was $49.89.

During March and April 2019, the Company entered into derivative contracts in the form of costless collars of NYMEX WTI Crude Oil prices in order to protect the Company’s cash flow from price fluctuation and maintain its capital programs.  “Costless collars” are the combination of two options, a put option (floor) and call option (ceiling) with the options structured so that the premium paid for the put option will be offset by the premium received from selling the call option.  The trades were for a total of 5,500 barrels of oil per day for the period of April 2019 through December 2019 and 2,000 barrels of oil per day for the period of January 2020 through December 2020. The average prices for the 5,500 BOPD under contract for 2019 are: Floor = $50.00 / Ceiling = $68.19. The average prices for the 2,000 BOPD under contract for 2020 are: Floor = $50.00 / Ceiling = $65.61. The “Costless Collar” pricing does not take into account any pricing differentials between NYMEX WTI pricing and the price received by the Company.

Lease operating expenses, including production taxes, for the three months ended June 30, 2019 were $14.15 per BOE, an 8.3% decrease from the prior year. Depreciation, depletion and amortization costs, including accretion, decreased 15.6% to $15.02 per BOE. General and administrative costs, which included a $808,734 charge for stock-based compensation, were $4.80 per BOE, a 20% decrease. For the six months ended June 30, 2019, lease operating expenses, including production taxes, were $13.65 per BOE, a 7.3% decrease. Depreciation, depletion and amortization costs, including accretion, were $14.99 per BOE, a 13.4% decrease, and general and administrative costs, which included a $1,643,199 charge for stock-based compensation, were $6.18 per BOE, a 2.8% increase.

Cash provided by operating activities, before changes in working capital, for the three and six months ended June 30, 2019 was $29,031,005, or $0.43 per fully diluted share, and $52,485,173, or $0.80 per fully diluted share, compared to $17,389,257 and $36,557,519, or $0.28 and $0.61 per fully diluted share for the same periods in 2018. Earnings before interest, taxes, depletion and other non-cash items (“Adjusted EBITDA”) for the three and six months ended June 30, 2019 were $33,289,653, or $0.49 per fully diluted share, and $57,504,602, or $0.87 per fully diluted share, compared to $17,306,266 and $36,510,058, or $0.28 and $0.61 in 2018. (See accompanying table for a reconciliation of net income to adjusted EBITDA).

On April 9, 2019 the Company significantly expanded its acreage position and increased its production by completing the acquisition of oil and gas properties from Wishbone Energy Partners LLC, Wishbone Texas Operating Company LLC and WB Waterworks LLC on the Northwest Shelf in Gaines, Yoakum, Runnels and Coke counties, Texas and Lea county, New Mexico. The acquired properties consist of 49,754 gross (38,230 net) acres and include a 77% average working interest and a 58% average net revenue interest. The total adjusted purchase price for the acquisition was approximately $291 million, comprised of approximately $264 million cash and 4,581,001 shares of the Company’s common stock. The cash portion of the transaction was paid from the Company’s senior credit facility which had been increased to $1 billion with a borrowing base of $425 million.

In April 2019, the Company amended and restated its senior credit facility with SunTrust Bank, as lender, issuing bank and administrative agent for several banks and other financial institutions and lenders. The amended and restated senior credit facility increases the maximum facility amount to $1 billion, increases the immediate borrowing base to $425 million and extends the maturity date through April 2024.

As of June 30, 2019, $360.5 million was outstanding on the Company’s $1 billion senior secured credit facility. Total capital expenditures for the six months ended June 30, 2019 were approximately $396.7 million, which included $296.9 million for property acquisitions and $3.4 million of asset retirement obligations. As of June 30, 2019, the weighted average interest rate on borrowings under the senior credit facility was 5.10%.

The Company’s Chief Executive Officer, Mr. Kelly Hoffman, stated, “Our second quarter 2019 was our first working quarter with the inclusion of the Northwest Shelf (“NWS”) acquisition, and we couldn’t be more pleased. We knew this was an outstanding property and after less than 3 months working on the property, we are already seeing very positive results. Our revenues and earnings are exceeding our projections and our need to borrow for operations continues to decline. We attribute this to not only a better average BOE price received in the second quarter, but just as importantly, better overall operational efficiencies. This bodes well for our stated goal of cash flow neutrality by year end 2019. During the quarter we decided to go back to a one-rig drilling program and concentrate the drilling on the NWS acreage while reworking/retooling a large number of existing wells on both the NWS and Central Basin properties. We always have the option of adding a second rig based on improved market conditions. The commodities market continues to be volatile and we felt this was the prudent decision to ensure reaching our goals of continued annual production growth and cash flow neutrality by year end. Our stock price has been a real disappointment for all of us. As we have stated in the past, we are investigating the dramatic increase in our “short” position and hope to have results soon. Fundamentally, this Company is on solid ground. We have built a Company that has excellent assets, experienced management and years of sustainable growth ahead of it.”

About Ring Energy, Inc.

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

www.ringenergy.com

Safe Harbor Statement

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements involve a wide variety of risks and uncertainties, and include, 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, 2018, its Form 10Q for the quarter ended June 30, 2019 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

RING ENERGY, INC.

STATEMENTS OF OPERATIONS

COMPARATIVE OPERATING STATISTICS

RING ENERGY, INC.

BALANCE SHEET

STATEMENTS OF CASH FLOW

Management believes that the non-GAAP measure of cash flow fromoperations is useful information for investors because it is used internally and is accpeted by the investment community as a means of measuring the Company's ability to fund its capital program. It is also used by professional reseach analysts in providing investment recommendations pertaining to companies in the oil and gas exploration and production industry.

RING ENERGY, INC.

NON-GAAP DISCLOSURE RECONCILIATION

ADJUSTED EBITDA