Ring Energy, Inc. Provides Sales Guidance for the First Quarter and Full Year 2022
March 16, 2022 at 05:21 pm EDT
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Ring Energy, Inc. provides sales guidance for the first quarter and full year 2022. For the quarter, the company expects the total sales volume range to be 8,500 Boe/d to 8,700 Boe/d including oil sales volume range of 7,200 Bo/d to 7,400 Bo/d.
For the full year, the company expects the total sales volume range to be 9,000 Boe/d to 9,600 Boe/d including oil sales volume range of 7,800 Bo/d to 8,350 Bo/d.
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. 
