Ring Energy, Inc. Releases Its Preliminary 2020 Capital Expenditure Budget of Approximately $85 - $90 Million
Ring Energy, Inc. (REI)
NASDAQ:AMEX Investor Relations:
ringenergy.com
Company Research
Source: Business Wire
Company Budgets Drilling 18 New Horizontal Wells on Northwest Shelf in 2020 MIDLAND, Texas--(BUSINESS WIRE)--Ring Energy, Inc. (NYSE American: REI) (“Ring”) (“Company”) announced the Company’s preliminary capital expenditure budget (“CAPEX”) for 2020 of approximately $85 - $90 million. The preliminary budget includes the estimated cost to drill and complete 18 new horizontal wells (13 1-mile / 5 1.5-mile) on its Northwest Shelf (“NWS”) asset, well workovers including converting wells to rod pump, infrastructure upgrades / extensions on its NWS, Central Basin Platform (“CBP”), Delaware (“DEL”) assets along with all contractual drilling obligations, including projected costs specific to non-operated wells.All three of the Company’s primary assets, the Northwest Shelf, Central Basin Platform and Delaware Basin, will have extensive infrastructure projects performed, including battery upgrades, saltwater disposal projects, compressor work and miscellaneous electrical projects. In additi
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REI
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- 11/8/24 - Form SC
- 11/7/24 - Form 8-K
- 11/6/24 - Form 10-Q
- REI's page on the SEC website