Ring Energy Inc REI

Energy Oil & Gas E&P

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).

NYSEAM:REI - Post by User

Ring Energy Inc

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Post by ditchdigger251on Feb 25, 2022 5:43pm

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Post# 34463334

T.SGY Finally Took Off Today. REI far behind?

Surge Energy climbed about 8% today ($0.60 cdn) to close at $7.18. Surge is an oil weighted Cdn producer that I think has some good similiarities to Ring. Both are paying down debt (I think rather quickly too). Both had punitive hedges expire late last year. Both are drilling agressively. Both pride themselves as being low cost operators. And both are trading at bargain prices. T.SGY had a big day today. I can see a big day for REI within a week after the release of its annual report.

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