secwatch.observer — SEC 8-K summary
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Issuer:     RING ENERGY, INC. (REI)
CIK:        0001384195
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001628280-23-015798
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ring Energy Q1 net income $32.7M, record sales 18,292 Boe/d, reiterates FY outlook
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- Record Q1 sales volumes of 18,292 Boe/d (69% oil), at high end of 17,800-18,300 Boe/d guidance.
- Net income $32.7M ($0.17 diluted), up from $14.5M in Q4 2022; Adjusted Net Income $25.0M ($0.14).
- Record Adjusted EBITDA $58.6M, up 4% from Q4 2022; Free Cash Flow $10.5M, cash flow positive 14th consecutive quarter.
- Reiterated full year 2023 sales volume guidance of 17,800-18,800 Boe/d; Q2 guidance 17,900-18,400 Boe/d.
- Early exercise of 14.5M warrants at $0.62/share raised $9.0M; ~78,200 warrants remain.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1384195/000162828023015798/0001628280-23-015798-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1384195/000162828023015798/rei-20230503.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-015798

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