Ring Energy Q3 2022 revenue $94.4M record, net income $75.1M, production 13,278 Boe/d, closed Stronghold acquisition

RING ENERGY, INC.

2022-Q3 EPS reported $0.92 revenue$247,551,855

Record Q3 revenue of $94.4M, up 11% QoQ; net income $75.1M ($0.49/diluted), up 79% QoQ.
Production 13,278 Boe/d (76% oil) vs 9,341 Boe/d Q2; closed Stronghold acquisition Aug 31.
Adjusted EBITDA record $56.0M, up 18% QoQ; Free Cash Flow $9.7M, up 290% QoQ.
Paid down $17M debt since Stronghold close; liquidity ~$165M, leverage ratio 1.4x.
Reiterated Q4 2022 guidance and provided preliminary 2023 outlook.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RING ENERGY, INC. reported the third quarter of 2022 results: revenue $94.4 million, net income $75.1 million, EPS $0.49 per diluted share. Guidance reaffirmed.

Period: the third quarter of 2022
Revenue: $94.4 million
Net income: $75.1 million
EPS: $0.49 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

generation and ability to more quickly pay down debt assuming current oil and gas prices continue; · Recorded the highest quarterly sales revenue in the Company’s history of $94.4 million, an 11% increase from the second quarter of 2022; · Increased sales volumes to 13,278 barrels of oil equivalent per day (“Boe/d”) (76% oil, 13% natural gas and 11% natural gas

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Source: SEC EDGAR

accession 0001104659-22-118756

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