Ring Energy, Inc. announced that the borrowing base was reaffirmed at $600 million under its $1.0 billion senior revolving credit facility. In addition, the Company announced that it had recently made the final payment of $11.9 million on its previously-announced acquisition of the Central Basin Platform assets of Founders Oil & Gas IV, LLC (?Founders?). The payment was reduced from $15.0 million to $11.9 million as a result of purchase price adjustments in the final settlement.

Separately, Ring disclosed the recent sale of $1.5 million of non-core assets located in Gaines County, Texas. Reaffirmation of the Credit Facility borrowing base at $600 million; No changes to the terms under the Credit Facility, with next regularly scheduled bank redetermination for the Company to occur during the spring of 2024; Finalized the purchase of the Founders properties with the reduced deferred payment that was $3.1 million less than the initially-disclosed $15.0 million due to purchase price adjustments; and Proceeds from the recent sale of $1.5 million in non-core assets are to be used to further reduce outstanding borrowings on the Credit Facility.