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

Issuer:     RING ENERGY, INC. (REI)
CIK:        0001384195
Form:       8-K
Filed at:   2023-12-27T23:59:59+00:00
Accession:  0001628280-23-042700
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ring Energy reaffirms $600M borrowing base, pays final $11.9M for Founders acquisition, sells $1.5M non-core assets
--------------------------------------------------------------------------------

- Borrowing base reaffirmed at $600M under $1.0B credit facility; no terms changed.
- Final deferred payment of $11.9M made for Founders acquisition, $3.1M less than initial $15M due to purchase price adjustments.
- Sold $1.5M of non-core assets in Gaines County, TX; proceeds used to reduce borrowings.
- Next regularly scheduled bank redetermination expected spring 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1384195/000162828023042700/0001628280-23-042700-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1384195/000162828023042700/rei-20231221.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-042700

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