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

Issuer:     RING ENERGY, INC. (REI)
CIK:        0001384195
Form:       8-K
Filed at:   2024-03-08T23:59:59+00:00
Accession:  0001628280-24-009990
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1384195/000162828024009990/0001628280-24-009990-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1384195/000162828024009990/rei-20240307.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-009990

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