Ring Energy Releases First Quarter 2026 Results

About this update from Ring Energy, Inc.

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(NYSE American: REI) (“Ring” or the “Company”) today reported operational and financial results for the first quarter of 2026.","length":199,"tagName":"p"},{"type":"text","content":" First Quarter 2026 Highlights ","length":29,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Sold 12,276 barrels of oil per day (“Bo/d”) and 19,351 barrels of oil equivalent per day (“Boe/d”) both of which were essentially at the mid-point of guidance;","length":159,"tagName":"p"}]},{"val":[{"type":"text","content":"Reported a net loss of $220.6 million, or $(1.06) per diluted share, driven primarily by a $162.1 million non-cash ceiling test impairment and a $77.0 million unrealized mark-to-market derivative loss related to changes in forward commodity prices;","length":248,"tagName":"p"}]},{"val":[{"type":"text","content":"Generated Adjusted Net Income 1 of $7.4 million, or $0.04 per diluted share;","length":75,"tagName":"p"}]},{"val":[{"type":"text","content":"Closed the sale of ~ 200 Boe/d of non-operated NWS assets for $4.5 million, valued at approximately 4.5 times estimated next twelve months cash flow 2 ;","length":150,"tagName":"p"}]},{"val":[{"type":"text","content":"Incurred Lease Operating Expense (“LOE”) of $10.41 per Boe, 3% below the low end of guidance due to ongoing efforts to reduce costs;","length":132,"tagName":"p"}]},{"val":[{"type":"text","content":"Invested $34.5 million in capital expenditures, accelerating targeted infrastructure investments to expand flexibility and unlock more capital efficient longer lateral inventory;","length":178,"tagName":"p"}]},{"val":[{"type":"text","content":"Improved NWS spud‑to‑TD drilling time by ~15% versus the 2025 average;","length":70,"tagName":"p"}]},{"val":[{"type":"text","content":"Generated net cash flow from operating activities of $25.9 million and remained cash flow positive for the 26 th consecutive quarter; and","length":136,"tagName":"p"}]},{"val":[{"type":"text","content":"Increased borrowings by $6 million to accelerate the capture of attractively priced opportunities while maintaining liquidity of $160.0 million as of March 31, 2026. ","length":170,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":1318,"olType":false},{"type":"text","content":" Management Commentary ","length":21,"tagName":"p"},{"type":"text","content":"Mr. Paul D. McKinney, Chairman of the Board and Chief Executive Officer, commented, “We successfully delivered on our sales guidance, handsomely beat on LOE, while investing ahead of our drilling campaign and extending our track record to 26 consecutive quarters of positive cash flow. Looking to the future, we believe the market has yet to recognize the potential impact of supply disruptions stemming from the Iranian Conflict and what that could mean for long term oil prices. Because we expect oil prices to remain elevated longer than the market currently implies, we made targeted adjustments late in the quarter to capture attractively priced opportunities that provide optionality and the potential to meaningfully expand our drilling inventory, improve capital efficiency and build long term stockholder value.”","length":821,"tagName":"p"},{"type":"text","content":"Mr. McKinney concluded, “While we remained focused on operating within Adjusted Free Cash Flow 1 during the first quarter of 2026, we temporarily paused debt reduction to invest in select opportunities which are compelling on a risk-adjusted basis. We are acting early to capture upside potential before sustained higher oil prices translate into higher costs and increased competition. We believe these actions should improve our production later in the year and into 2027; however, it is too early to reflect any increases in our production guidance at this time. Looking ahead, we expect to resume our focus on debt reduction during the remainder of 2026, as we balance growth with strengthening our balance sheet and increasing the Company’s size and scale.”","length":761,"tagName":"p"},{"type":"readMore"},{"type":"text","content":"___________________________________","length":35,"tagName":"p"},{"type":"text","content":" 1 A non-GAAP financial measure; see the “Non-GAAP Financial Information” section in this release for more information including reconciliations to the most comparable GAAP measures.","length":181,"tagName":"p"},{"type":"text","content":" 2 The cash flow for the next twelve months (“NTM”) represents field level cash flow based on a strip price as of January 12, 2026.","length":130,"tagName":"p"},{"type":"text","content":" Summary Results and Additional Key Items ","length":40,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"style":"border-top:solid black 1pt;border-left:solid black 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