secwatch.observer — SEC 8-K summary
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Issuer:     RING ENERGY, INC. (REI)
CIK:        0001384195
Form:       8-K
Filed at:   2023-03-10T23:59:59+00:00
Accession:  0001628280-23-007519
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ring Energy Q4 2022 net income $14.5M; full-year records; guides 2023 volumes up 40%
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- Record Q4 sales volumes 17,856 Boe/d (+34% QoQ); full-year 12,364 Boe/d (+45% YoY)
- Full-year net income $138.6M ($0.98 diluted) vs $3.3M in 2021; adjusted net income $107.5M ($0.89), up 251%
- Adjusted EBITDA full-year $195.2M (+134%); Free Cash Flow $34.8M; paid down $37M debt since Stronghold close
- Year-end proved reserves 138.1 MMBoe (+78%); PV-10 $2.8B (+108%); leverage ratio reduced to 1.6x from 3.5x
- 2023 guidance: Q1 volumes 17,800-18,300 Boe/d; full-year 17,800-18,800 Boe/d; expects >40% increase over 2022

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1384195/000162828023007519/0001628280-23-007519-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1384195/000162828023007519/rei-20230309.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-007519

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