Permian Basin Pure Play Exploration & Production
Ring Energy, Inc. (REI) operates out of the Permian Basin of Texas and New Mexico. The Permian Basin is unique in its size, vast infrastructure, thickness of strata, and multiple producing horizons/benches, providing a variety of exploration opportunities to develop oil and gas reserves. As a result, the Permian Basin is the top producing basin in North America.
The Permian Basin produces approximately 4.5 million Bo/d—about 37% of the U.S. daily production of approximately 12.6 million Bo/d (EIA week ending 12/31/19).
Building Lasting Relationships
Over the years it’s been said that “good Permian Basin deals don’t make it out of Midland.” Although this statement isn’t completely accurate, it’s probably truer than not, and, as a result, management has strategically located REI’s headquarters in Midland, Texas. With the clear majority of REI’s management team being from the Permian Basin area, and having built other successful companies here, their relationships run deep and continue to positively impact its ability to acquire assets and build its infrastructure.
Acquired in April of 2019, the Northwest Shelf is the largest of REI’s assets and includes saltwater disposal wells, water supply wells, frac ponds, and caliche pits.About Northwest Shelf