RING ENERGY, INC. reported the first quarter ended March 31, 2026 results: net income net loss of $220.6 million, or $(1.06) per diluted share, EPS $(1.06) per diluted share.
“barrels of oil per day (“Bo/d”) and 19,351 barrels of oil equivalent per day (“Boe/d”) both of which were essentially at the mid-point of guidance; • Reported a net loss of $220.6 million, or $(1.06) per diluted share, driven primarily by a $162.1 million non-cash ceiling test impairment and a $77.0 million unrealized mark-to-market derivative loss related to”
Sundip "Sonu" S. Johl was appointed as Principal Financial Officer at RING ENERGY, INC..
“On May 4, 2026, the Board of Directors (the “Board”) of the Company appointed Sundip “Sonu” S. Johl as Principal Financial Officer of the Company in addition to his current positions as Executive Vice President, Chief Financial Officer and Treasurer of the Company.”
Debt Financings
RING ENERGY, INC. amended revolving credit of $585 million with Bank of America, N.A. (as Administrative Agent) and the lenders at reduces the applicable margin pricing grid by 25 basis points maturing June 18, 2029.
“reduces the borrowing base and aggregate elected commitment from $600 million to $585 million; extends the maturity date of the Credit Agreement from August 31, 2026 to June 18, 2029; reduces the applicable margin pricing grid by 25 basis points”
Carla Tharp was appointed as Director at RING ENERGY, INC..
“the Board, upon the recommendation of the Nominating, Environmental, Social and Governance Committee of the Board (the “NESG Committee”), appointed Ms. Carla Tharp as a director effective April 14, 2025.”
Regina Roesener departed as Director at RING ENERGY, INC..
“Ms. Regina Roesener notified the board of directors (the “Board”) of Ring Energy, Inc. (the “Company”), that she is retiring from the Board effective as of April 14, 2025.”
Stephen D. Brooks retired as Executive Vice President of Land, Legal, Human Resources and Marketing at RING ENERGY, INC..
“on July 1, 2024, Stephen D. Brooks retired as Executive Vice President of Land, Legal, Human Resources and Marketing of the Company.”
Shawn Young was appointed as Vice President of Operations at RING ENERGY, INC..
“On June 18, 2024, Shawn Young, age 56, was appointed to Vice President of Operations, effective July 17, 2024.”
Stephen D. Brooks departed as Executive Vice President of Land, Legal, Human Resources and Marketing at RING ENERGY, INC..
“On June 24, 2024, the Company announced that Stephen D. Brooks who currently serves as the Company’s Executive Vice President of Land, Legal, Human Resources and Marketing, will retire from the Company which will occur on or about July 1, 2024.”
Marinos C. Baghdati resigned as Executive Vice President of Operations at RING ENERGY, INC..
“On June 18, 2024, Marinos C. Baghdati, Executive Vice President of Operations of Ring Energy, Inc. (the “Company”), submitted his resignation, effective July 17, 2024.”
Earnings Releases
RING ENERGY, INC. reported first quarter ended March 31, 2024 results: revenue $94.5 million, net income $5.5 million, EPS $0.03 per diluted share. Guidance reaffirmed.
Roy Ben-Dor departed as Director at RING ENERGY, INC..
“Also, on April 16, 2024, Roy Ben-Dor notified the Board of his intention to retire from the Board effective at the Annual Meeting and to not stand for reelection to the Board.”
Clayton E. Woodrum departed as Director at RING ENERGY, INC..
“On April 16, 2024, Clayton E. Woodrum notified the Board of Directors (the “Board”) of Ring Energy, Inc. (the “Company”) of his intention to retire from the Board effective at the 2024 Annual Meeting of Stockholders of the Company (the “Annual Meeting”) and to not stand for reelection to the Board.”
Earnings Releases
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.
“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.”
Material Agreements
RING ENERGY, INC. amended Second Amended and Restated Credit Agreement with Truist Bank valued at Amendment to redefine Free Cash Flow so acquisition amounts are no longer subtracted (effective 2024-02-12).
“On February 12, 2024, Ring Energy, Inc. (the “Company”), Truist Bank (“Truist”) as the Administrative Agent and Issuing Bank, and the lenders party thereto (the “Lenders”) entered into an amendment (the “Amendment”) to the Second Amended and Restated Credit Agreement dated August 31, 2022, by and among the Company, as Borrower, Truist as Administrative Agent and Issuing Bank, and the Lenders (together with all amendments or other modifications, the “Credit Agreement”).”
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