secwatch.observer — SEC 8-K summary
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Issuer:     RING ENERGY, INC. (REI)
CIK:        0001384195
Form:       8-K
Filed at:   2024-02-02T23:59:59+00:00
Accession:  0001628280-24-003065
Event type: other_material
Sentiment:  positive
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ring Energy Q4 2023 sales ~19,400 Boe/d near high end; debt down $3M; Q1 2024 guidance 18,000-18,500 Boe/d
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- Q4 2023 sales volumes ~19,400 Boe/d (70% oil), near high-end of guidance 18,900-19,500 Boe/d.
- Reduced debt by $3.0M in Q4; made $11.9M final Founders acquisition payment; ended 2023 with $425M borrowings.
- Q1 2024 guidance: avg sales 18,000-18,500 Boe/d (~69% oil); capex $37-42M for two-rig drilling program.
- Winter weather deferred ~1,900 Boe/d for 10 days in early Q1; production now restored.
- Plans to drill 4-5 horizontal and 4-6 vertical wells in Q1 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1384195/000162828024003065/0001628280-24-003065-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1384195/000162828024003065/rei-20240129.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-003065

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