Ring Energy closes Lime Rock Permian acquisition for $68.6M cash, $10M deferred, and 6.45M shares

RING ENERGY, INC.

Acquired ~17,700 net acres (100% HBP) and ~2,300 Boe/d (>80% oil) production from 101 gross wells in Andrews County, TX.
Total consideration: ~$68.6M cash at closing (net of $5M deposit), $10M deferred cash due Dec 31, 2025, and 6.45M shares of common stock.
Acquisition expected to generate $34M 2025E Adjusted EBITDA, valued at <85% of proved developed PV-10; accretive to key per-share metrics.
Adds >40 gross drilling locations with superior economics; assets mostly contiguous to existing Shafter Lake CBP footprint.
Funded with cash on hand and borrowings under senior credit facility; registration rights agreement filed for shares.

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