Building a Successful E&P in the Permian Basin
Ring Energy, Inc. (NYSE American: REI) is headquartered in The Woodlands, Texas and is an oil and natural gas exploration and production company with current operations in the Permian Basin of West Texas -- recognized as the top producing oil basin in North America. Formed in 2012, the experienced management team has aggressively sought to acquire select low decline, and long-lived oil and gas properties in the Permian Basin with development opportunities for future years. In summer 2022, REI acquired additional producing properties and acreage in the Permian Basin that added 66.6 million Boe of proved reserves as of June 1, 2022 and nearly 500 new drilling and recompletion locations. With over 100 years of combined experience in the oil and gas industry, coupled with new technological advancements, careful geological evaluation and reservoir engineering, and long-established industry relationships, REI is poised for profitability and success. As of 12/31/22, the Company, through targeted acquisition and development activities, increased proved reserves to an estimated 138.1 million Boe (barrel of oil equivalent) – a 78% increase from 12/31/21.