Ring Energy Q4 net income $50.9M, record sales 19,397 Boe/d, Adjusted EBITDA $65.4M

RING ENERGY, INC.

Q4 total sales volumes 19,397 Boe/d (record), up 11% QoQ; oil sales 13,637 Bo/d (record).
Q4 net income $50.9M ($0.26 diluted EPS), includes $32.5M unrealized derivative gain; adjusted net income $21.2M ($0.11).
Full year 2023 sales volumes 18,119 Boe/d (record, +47% YoY), net income $104.9M; Adjusted EBITDA $236.0M (+21% YoY).
Year-end proved reserves 129.8 MMBoe, PV-10 $1.6B; debt reduced $30M since Aug 2023 acquisition, leverage ratio 1.62x.
2024 guidance: disciplined capital spending, focus on organic growth, debt reduction, and accretive M&A.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

RING ENERGY, INC. reported the fourth quarter and year ended December 31, 2023 results: net income $50.9 million, or $0.26 per diluted share.

Period: the fourth quarter and year ended December 31, 2023
Net income: $50.9 million, or $0.26 per diluted share
Result: reported results

Exact text from the filing

Ring Energy, Inc. (the “Company”) issued a press release announcing its financial and operating results for the fourth quarter and year ended December 31, 2023.

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Source: SEC EDGAR

accession 0001628280-24-009990

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