Ring Energy, Inc. Releases Third Quarter and Nine Month 2019 Operations Update
Ring Energy, Inc. (REI)
NASDAQ:AMEX Investor Relations:
ringenergy.com
Company Research
Source: Business Wire
Management Provides New Decline Curves and Economics on Northwest Shelf and Central Basin Platform Wells MIDLAND, Texas--(BUSINESS WIRE)--Ring Energy, Inc. (NYSE American: REI) (“Ring”) (“Company”) today released its operations update for the third quarter of 2019. In the three months ended September 30, 2019, the Company drilled six new one-mile horizontal (“Hz”) San Andres wells on its Northwest Shelf (“NWS”) asset. Of the six new wells drilled, three were completed, tested and had Initial Potentials (“IPs”) filed, while the remaining three were completed and are in varying stages of testing. In addition to the three new wells drilled in the third quarter which had IPs filed, the company completed testing and filed IPs on eight additional horizontal wells drilled in the first and second quarters of 2019 (5 Central Basin / 3 NWS). The average IP rate for all the horizontal wells (11 wells) completed and IPs filed in the third quarter of 2019 was 475 Barrels of Oil Equivalent (“BOE
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