Ring Energy Releases Third Quarter 2025 Results and Updates Guidance

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 third quarter of 2025 and updated guidance for the remainder of the year.","length":251,"tagName":"p"},{"type":"text","content":" Third Quarter 2025 Highlights ","length":29,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Sold 13,332 barrels of oil per day (“Bo/d”), near the mid-point of guidance and 20,789 barrels of oil equivalent per day (“Boe/d”) which was above the mid-point of guidance;","length":173,"tagName":"p"}]},{"val":[{"type":"text","content":"Reported a net loss of $51.6 million, or $(0.25) per diluted share, which includes $72.9 million of non-cash ceiling test impairment charges, and Adjusted Net Income 1 of $13.1 million, or $0.06 per diluted share;","length":212,"tagName":"p"}]},{"val":[{"type":"text","content":"Recorded Adjusted EBITDA 1 of $47.7 million;","length":43,"tagName":"p"}]},{"val":[{"type":"text","content":"Incurred Lease Operating Expense (“LOE”) of $10.73 per Boe, 2% below the low end of recently lowered guidance due to ongoing efforts to reduce costs;","length":149,"tagName":"p"}]},{"val":[{"type":"text","content":"Invested $24.6 million in capital expenditures which was below the mid-point of guidance;","length":89,"tagName":"p"}]},{"val":[{"type":"text","content":"Generated Adjusted Free Cash Flow (“AFCF”) 1 of $13.9 million, and remained cash flow positive for the 24 th consecutive quarter; and","length":131,"tagName":"p"}]},{"val":[{"type":"text","content":"Paid down $20 million of debt, exceeding earlier guidance by $2 million and increased liquidity to $157.3 million as of September 30, 2025. ","length":144,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":941,"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, “Ring Energy again maintained strong cash generation and superior capital and operational discipline despite the significant headwinds of volatile commodity prices. During the third quarter of 2025, we met our production guidance and generated $13.9 million of Adjusted Free Cash Flow through the combination of slightly higher realized oil prices, capital savings from our drilling and completion program, and operational savings from below-guidance LOE costs. We applied these savings to debt reduction, paying down $20 million of debt and exceeding our debt reduction guidance by $2 million. We exited the quarter with $157.3 million in liquidity and were cash flow positive for the 24 th consecutive quarter. We are pleased to reaffirm that our plan of reducing capital spending year-over-year (“YOY”) by 36% while maintaining a YOY production growth rate of 2% or more is firmly on track.","length":976,"tagName":"p"},{"type":"text","content":"Mr. McKinney concluded, “As we look forward to the fourth quarter and beyond, our focus remains centered on maximizing free cash flow generation through continued capital discipline and improvements in capital efficiency, reducing operating costs and G&A, and applying these benefits to further debt reduction. If we incur the windfalls of higher oil prices, we will continue this focus until we achieve a leverage ratio that clearly places our balance sheet in a competitive position with our peers and better positions the Company to achieve the size and scale necessary to sustainably implement a capital return framework to our stockholders.”","length":650,"tagName":"p"},{"type":"readMore"},{"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. 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For additional information, please visit www.ringenergy.com .","length":225,"tagName":"p"},{"type":"text","content":" Safe Harbor Statement ","length":21,"tagName":"p"},{"type":"text","content":"This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements involve a wide variety of risks and uncertainties, and include, without limitation, statements with respect to the Company’s strategy and prospects. The forward-looking statements include statements about the expected future reserves, production, financial position, business strategy, revenues, earnings, costs, capital expenditures and debt levels of the Company, and plans and objectives of management for future operations. 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However, whether actual results and developments will conform to expectations is subject to a number of material risks and uncertainties, including but not limited to: declines in oil, natural gas liquids or natural gas prices; the level of success in exploration, development and production activities; adverse weather conditions that may negatively impact development or production activities particularly in the winter; the timing of exploration and development expenditures; inaccuracies of reserve estimates or assumptions underlying them; revisions to reserve estimates as a result of changes in commodity prices; impacts to financial statements as a result of impairment write-downs; risks related to level of indebtedness and periodic redeterminations of the borrowing base and interest rates under the Company’s credit facility; Ring’s ability to generate sufficient cash flows from operations to meet the internally funded portion of its capital expenditures budget; the impacts of hedging on results of operations; changes in U.S. energy, environmental, monetary, tax and trade policies, including with respect to tariffs or other trade barriers, and any resulting trade tensions; cost and availability of transportation and storage capacity as a result of oversupply, government regulation or other factors; and Ring’s ability to replace oil and natural gas reserves. 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