secwatch.observer — SEC 8-K summary
======================================

Issuer:     RING ENERGY, INC. (REI)
CIK:        0001384195
Form:       8-K
Filed at:   2023-11-03T23:59:59+00:00
Accession:  0001628280-23-036710
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 Q3 net loss $7.5M ($0.04/sh); adj. EBITDA record $58.6M, up 10% QoQ
-------------------------------------------------------------------------------

- Net loss of $7.5M ($0.04 diluted EPS) vs Q2 net income of $28.8M ($0.15); adjusted net income $26.3M ($0.13).
- Record Adjusted EBITDA of $58.6M, up 10% from $53.5M in Q2; Adjusted Free Cash Flow of $6.1M.
- Production averaged 17,509 Boe/d (69% oil); Q3 exit rate above 19,000 Boe/d; stepped-up drilling: 11 wells spud, 8 completed.
- Closed Founders acquisition for $50M cash (Aug 15); sold non-core New Mexico assets for $4.5M (Sept 27); credit facility debt $428M, liquidity $171.4M, leverage 1.69x.
- Updated Q4 2023 guidance; expect strong Q4 from full quarter of Founders and stepped-up Q3 capital program of $42.4M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1384195/000162828023036710/0001628280-23-036710-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1384195/000162828023036710/rei-20231102.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-036710

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer