Permian Basin Pure Play Exploration & Production
Ring Energy, Inc. (REI) conducts its operations in 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).