Permian Basin Pure Play Exploration & Production
Ring Energy, Inc. (REI) currently conducts its operations in the Permian Basin. The Permian Basin is unique in its size, vast infrastructure, thickness of strata, and multiple producing horizons/benches, providing a variety of exploration opportunities to develop oil and gas reserves. As a result, the Permian Basin is the top producing basin in North America.
The Permian Basin produces approximately 6.1 million Bo/d—about 47% of the U.S. daily production of approximately 13.1 million Bo/d (as of March 2024 per EIA).
Northwest Shelf
As of December 31, 2023, we owned interests in a total of 12,572 gross (8,751 net) developed acres and 16,258 gross (12,405 net) undeveloped acres. In addition, we had interests in approximately five gross vertical and 146 horizontal producing wells, of which we operate five vertical and 111 horizontal wells.
About Northwest Shelf