Ring EnergyNYSE American: REI

Ring Energy's Founders acquisition increased production and profitability, aiding debt repayment despite being financed entirely with debt. The startup of the Matterhorn Express Pipeline will improve natural gas prices. REI maintains low breakeven costs, around $30–35 per well.

Ring Energy, Inc. (NYSE:REI ) Q3 2024 Earnings Conference Call November 7, 2024 12:00 PM ET Company Participants Al Petrie - Investor Relations Paul McKinney - Chief Executive Officer and Chairman of the Board Travis Thomas - Executive Vice President, Chief Financial Officer, Corporate Secretary & Treasurer Alexander Dyes - Executive Vice President of Engineering and Corporate Strategy Shawn Young - Vice President of Operations Conference Call Participants Neal Dingmann - Truist Securities Jeffrey Grampp - Alliance Global Partners John White - ROTH Capital Jeff Robertson - Water Tower Research Noel Parks - Tuohy Brothers Operator Good day and welcome to the Ring Energy Third Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode.

~ Q3 2024 Highlighted by Record Sales, Strategic Divestiture and Meaningful Debt Reduction ~ THE WOODLANDS, Texas, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today reported operational and financial results for third quarter 2024 and provided an outlook for the fourth quarter and updated guidance for the full year. Third Quarter 2024 Highlights Produced record sales of 20,108 barrels of oil equivalent per day (“Boe/d”) (66% oil) exceeding the high end of guidance; Oil sales were 13,204 Bo/d which were within guidance; Reported net income of $33.9 million, or $0.17 per diluted share, and Adjusted Net Income1 of $13.4 million, or $0.07 per diluted share; Incurred Lease Operating Expense (“LOE”) of $10.98 per Boe, near the midpoint of guidance; Recorded Adjusted EBITDA1 of $54.0 million; Divested non-core vertical wells and associated facilities in the Central Basin Platform for $5.5 million with a valuation of approximately 5.6 times estimated next twelve months cash flow2; Guidance updated to reflect the impact of the divestiture; Successful development campaign resulted in capital spending of $42.7 million (guidance was $35 million to $45 million) with 13 wells drilled and 11 wells completed and placed on production during the quarter; Generated third quarter Adjusted Free Cash Flow1 of $1.9 million; Remained cash flow positive for the 20th consecutive quarter; Ended the period with $392.0 million in outstanding borrowings on the Company's credit facility, reflecting a paydown of $15.0 million during the third quarter, $33.0 million YTD; and Increased liquidity to a record $208.0 million and Leverage Ratio3 remained at 1.59x as of September 30, 2024.

Ring Energy (REI) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

THE WOODLANDS, Texas, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today announced the timing of its third quarter 2024 earnings release and conference call.

THE WOODLANDS, Texas, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today announced its participation in a fireside chat with Water Tower Research (“WTR”) on Wednesday, October 16, 2024 at 10:00 AM Central Time.

Subdued oil prices present a buying opportunity for undervalued stocks like Ring Energy, which I rate as a "Strong Buy" due to its fundamentals and steady growth outlook. Ring Energy's strong financial health, with a liquidity buffer of $194.1 million and low leverage, supports aggressive investments and the potential for significant upside. The company's substantial reserves and low break-even costs ensure steady production growth and low operational risk, making it an attractive long-term investment.

Ring Energy is a conventional opportunity. The vertical wells cause confusion. Horizontal wells have increased returns in certain areas. The CEO's presentation clarified the benefits of modern completion techniques used in both conventional and unconventional reservoirs.

Ring nearly reached 20,000 BOEPD in Q2 2024 sales volumes. This was above expectations and also allowed it to raise its full-year guidance by 4% to 5%. Ring's realized price for non-oil volumes remains very low.