Ring Energy, Inc. Reports Sales Volumes Results for the Third Quarter and Nine Months September 30, 2023
November 02, 2023 at 04:45 pm EDT
Share
Ring Energy, Inc. reported sales volumes results for the third quarter and nine months September 30, 2023. For the quarter, Net sales volumes of Oil was 1,106,531 Bbls compared to 932,770 Bbls a year ago. Natural gas was 1,567,104 Mcf compared to 952,762 Mcf a year ago. Natural gas liquids was 243,142 Bbls compared to 130,052 Bbls a year ago. Total oil and natural gas was 1,610,857 Boe compared to 1,221,616 Bbls a year ago.
For the nine months, Net sales volumes of Oil was 3,325,323 Bbls compared to 2,338,469 Bbls a year ago. Natural gas was 4,726,056 Mcf compared to 2,408,241 year ago. Natural gas liquids was 715,832 Bbls compared to 130,052 Bbls a year ago. Total oil and natural gas was 4,828,831 Boe compared to 2,869,895 Bbls a year ago.
Ring Energy, Inc. is an oil and gas exploration, development, and production company. The Company is focused on the development of its Permian Basin assets. Its primary drilling operations target the oil and liquids-rich producing formations in the Northwest Shelf and the Central Basin Platform, in the Permian Basin in Texas. The Company's leasehold acreage positions total approximately 96,127 gross (80,535 net) acres, and it holds interests in approximately 1,043 gross (864 net) producing wells. All of its properties are located in the Permian Basin and its proved reserves are oil-weighted, with approximately 63% consisting of oil, 19% consisting of natural gas, and 18% consisting of natural gas liquids. Of those reserves, approximately 68% are classified as proved developed and 32% are classified as proved undeveloped. Its proved reserves are approximately 129.8 million barrels of oil equivalent (BOE).
RING ENERGY, INC. 
