Detail akcie Ring Energy online

Business Summary: Ring Energy, Inc. is an oil and gas exploration, development, and production company. The Company is focused on the development of its Permian Basin assets. Its primary drilling operations target the oil and liquids-rich producing formations in the Northwest Shelf and the Central Basin Platform, in the Permian Basin in Texas. The Company's leasehold acreage positions total approximately 96,127 gross (80,535 net) acres, and it holds interests in approximately 1,043 gross (864 net) producing wells. All of its properties are located in the Permian Basin and its proved reserves are oil-weighted, with approximately 63% consisting of oil, 19% consisting of natural gas, and 18% consisting of natural gas liquids. Of those reserves, approximately 68% are classified as proved developed and 32% are classified as proved undeveloped. Its proved reserves are approximately 129.8 million barrels of oil equivalent (BOE).
Financial Summary: BRIEF: For the fiscal year ended 31 December 2023, Ring Energy Inc revenues increased 4% to $361.1M. Net income decreased 24% to $104.9M. Revenues reflect Oil segment increase of 9% to $349M, Crude Oil Production-Central Basin Platf increase of 67% to 2.3M barrels, Oil Equivalent Production (Units/day)-Ce increase of 95% to 10K barrels per day. Net income was offset by deprication increase of 59% to $87.8M (expense).