Ring Energy Announces Second Quarter 2024 Results, Provides Guidance for Third Quarter and Updates Full Year 2024 Outlook [Yahoo! Finance]
Ring Energy, Inc. (REI)
NASDAQ:AMEX Investor Relations:
ringenergy.com
Company Research
Source: Yahoo! Finance
and financial results for second quarter 2024 and provided an improved outlook for the third quarter and full year. Second Quarter 2024 Highlights Produced sales of 13,623 barrels of oil per day (“Bo/d”), representing a 2% increase over the first quarter of 2024; Sold record total volumes of 19,786 barrels of oil equivalent per day (“Boe/d”) (69% oil), which was 4% higher than the first quarter; Reported net income of $22.4 million, or $0.11 per diluted share, and Adjusted Net Income of $23.4 million, or $0.12 per diluted share; Recorded Lease Operating Expense (“LOE”) of $10.72 per Boe, which was below the low end of guidance; Increased Cash Operating Margin to $32.97 per Boe, reflecting a 7% increase over the first quarter and contributing to 9% growth year-to-date from 2023; Achieved record Adjusted EBITDA of $66.4 million — up 7% from the first quarter and 15% year-to-date; Incurred capital expenditures of $35.4 million, which was below the low end of guidance; S
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REI
Earnings
- 8/6/24 - Beat
REI
Sec Filings
- 9/20/24 - Form SC
- 9/20/24 - Form 4
- 9/20/24 - Form 4
- REI's page on the SEC website