---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-024739"
form_type: "8-K"
ticker: "REI"
cik: "0001384195"
company_name: "RING ENERGY, INC."
filed_at: "2023-07-11T23:59:59+00:00"
generated_at: "2026-06-13T09:56:47.461516+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Ring Energy reaffirms $600M borrowing base, reduces debt by $25M in Q2 2023

## Summary
- Borrowing base reaffirmed at $600M under $1B credit facility; no changes to terms, company in compliance with all covenants.
- Net debt reduction of $25M in Q2 2023; borrowings outstanding at end of Q2: $397M (down from $422M at Q1 end).
- Sold non-core Delaware Basin assets for $8.25M gross ($7.8M net); used to pay down debt; recent production ~240 Boe/d (85% oil).
- Actively pursuing sale of New Mexico assets (~5,700 gross acres, ~300 Boe/d, 93% oil) to further strengthen balance sheet.
- Targeting further debt reduction in H2 2023, dependent on hydrocarbon prices, capex timing, and market conditions.

## SEC filing metadata
- accession: 0001628280-23-024739
- form_type: 8-K
- ticker: REI
- cik: 0001384195
- company_name: RING ENERGY, INC.
- filed_at: 2023-07-11T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1384195/000162828023024739/0001628280-23-024739-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1384195/000162828023024739/rei-20230627.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-024739
- JSON: https://secwatch.observer/filing/0001628280-23-024739.json
- Plain text: https://secwatch.observer/filing/0001628280-23-024739.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.