Ring Energy, Inc. Appoints Thomas Mitchell to its Board of Directors
October 23, 2020 at 08:30 am EDT
Share
Ring Energy, Inc. announced the appointment of Mr. Thomas L. Mitchell to the Company’s Board of Directors. Mr. Mitchell will be joining as an independent Director. Mr. Mitchell is a strategic finance leader with a record of driving growth in energy business models as the Chief Financial Officer of both large and small companies in the Oil and Gas Industry. In his last position as Executive Vice President and Chief Financial Officer of Devon Energy Corporation, Mr. Mitchell led the finance and business development organizations, and also helped the company successfully strengthen its asset quality through strategic acquisitions.
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. 
