other material
confidence high
sentiment positive
materiality 0.70
Ring Energy raises Q2 sales guidance above prior range; reduces debt $15M
RING ENERGY, INC.
- New oil sales guidance: 13,500-13,700 Bopd vs prior 13,000-13,400 Bopd.
- New Boepd guidance: 19,500-19,700 vs prior 18,500-19,100.
- Reduced debt by $15M in Q2 2024; ended with $407M outstanding, $48M paydown since Founders Acquisition.
- Borrowing base reaffirmed at $600M under $1.0B credit facility; $193M availability at quarter end.