secwatch.observer — SEC 8-K summary
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Issuer:     RING ENERGY, INC. (REI)
CIK:        0001384195
Form:       8-K
Filed at:   2024-11-07T23:59:59+00:00
Accession:  0001628280-24-046235
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 Q3 net income $33.9M; record sales 20,108 Boe/d; debt reduced to $392M
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- Record Q3 sales of 20,108 Boe/d (66% oil) exceeding high end of guidance; oil sales 13,204 Bo/d.
- Net income $33.9M ($0.17 diluted); Adjusted Net Income $13.4M ($0.07 diluted); Adjusted EBITDA $54.0M.
- Divested non-core vertical assets for $5.5M; reduced credit facility debt by $15M to $392M, liquidity $208M.
- Capital expenditures $42.7M with 13 wells drilled, 11 completed; 20th consecutive cash-flow-positive quarter.
- Full-year 2024 guidance updated to reflect divestiture; Q4 outlook includes testing new zones for organic inventory growth.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1384195/000162828024046235/0001628280-24-046235-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1384195/000162828024046235/rei-20241106.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-046235

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