Ring Energy Announces Third Quarter 2024 Results, Provides Guidance For Fourth Quarter and Updates Full Year 2024 Outlook
Ring Energy, Inc. (REI)
NASDAQ:AMEX Investor Relations:
ringenergy.com
Company Research
Source: GlobeNewswire
~ Q3 2024 Highlighted by Record Sales, Strategic Divestiture and Meaningful Debt Reduction ~ THE WOODLANDS, Texas, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today reported operational and financial results for third quarter 2024 and provided an outlook for the fourth quarter and updated guidance for the full year. Third Quarter 2024 Highlights Produced record sales of 20,108 barrels of oil equivalent per day (“Boe/d”) (66% oil) exceeding the high end of guidance;Oil sales were 13,204 Bo/d which were within guidance;Reported net income of $33.9 million, or $0.17 per diluted share, and Adjusted Net Income1 of $13.4 million, or $0.07 per diluted share;Incurred Lease Operating Expense (“LOE”) of $10.98 per Boe, near the midpoint of guidance;Recorded Adjusted EBITDA1 of $54.0 million;Divested non-core vertical wells and associated facilities in the Central Basin Platform for $5.5 million with a valuation of approximately 5.6 tim
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REI
Earnings
- 11/6/24 - Miss
REI
Sec Filings
- 11/8/24 - Form SC
- 11/7/24 - Form 8-K
- 11/6/24 - Form 10-Q
- REI's page on the SEC website