Detail akcie Ring Energy online

Business Summary: Ring Energy, Inc. is an oil and gas exploration, development, and production company. The Company is focused on the development of its Permian Basin assets. Its primary drilling operations target the oil and liquids-rich producing formations in the Northwest Shelf and the Central Basin Platform, in the Permian Basin in Texas. The Company's leasehold acreage positions total approximately 96,127 gross (80,535 net) acres, and it holds interests in approximately 1,043 gross (864 net) producing wells. All of its properties are located in the Permian Basin and its proved reserves are oil-weighted, with approximately 63% consisting of oil, 19% consisting of natural gas, and 18% consisting of natural gas liquids. Of those reserves, approximately 68% are classified as proved developed and 32% are classified as proved undeveloped. Its proved reserves are approximately 129.8 million barrels of oil equivalent (BOE).
Financial Summary: BRIEF: For the six months ended 30 June 2024, Ring Energy Inc revenues increased 16% to $193.6M. Net income decreased 55% to $27.9M. Revenues reflect Oil segment increase of 19% to $191.6M, Crude Oil Production, Total increase of 11% to 2.5M barrels, Oil Equivalent Production (Units/day) increase of 9% to 19K barrels per day. Net income was offset by Gain (loss) on derivative contracts decrease from $12.7M (income) to $20.8M (expense).