THE WOODLANDS, Texas, April 18, 2025 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) today provided an operational update that highlights a successful start to the year 2025, surpassing initial projections. The Company reported that oil sales volumes for the first quarter exceeded the high end of its guidance range, while total sales volumes came in above the midpoint. In addition, Ring Energy has announced the schedule for its upcoming quarterly results conference call, an event that is highly anticipated by investors and industry analysts alike.

KEY HIGHLIGHTS:

• Ring Energy produced an impressive average of over 12,000 barrels of oil per day (Bo/d), significantly exceeding the high end of the Company's guidance.
• Total production reached more than 18,300 barrels of oil equivalent per day (Boe/d), comfortably surpassing the midpoint of guidance.
• This strong performance was largely attributed to the success of Ring's aggressive drilling program, which saw the completion of seven new wellsfour horizontal and three verticalall of which exceeded pre-drill expectations.
• On March 31, 2025, the Company finalized its acquisition of the Central Basin Platform (CBP) assets from Lime Rock Resources IV, LP, a strategic transaction that is expected to provide a significant boost in cash flow through the integration of shallow, declining, long-life oil-weighted assets.
• Initial operational synergies have already been realized, with a reduction in lease operating expenses (LOE) exceeding 5%. Furthermore, production during the first two weeks following the acquisition surpassed expectations by over 200 Boe/d, averaging more than 2,500 Boe/d.
• The Company has hedged over 6,300 barrels of oil per day, providing a weighted average downside protection of $64.44 per barrel for the remainder of the year, as of April 1, 2025.

Mr. Paul D. McKinney, Chairman of the Board and Chief Executive Officer of Ring Energy, commented on the positive results, stating, The first quarter has set a strong foundation for 2025, and we look forward to sharing our full results in early May. Despite some initial weather-related downtime, we are pleased to report that oil sales volumes surpassed our highest projections, thanks to the outstanding performance of the wells drilled this quarter. Every well not only met but exceeded our pre-drill expectations, showcasing our operational excellence.

He added, Additionally, we successfully completed our Lime Rock asset acquisition before the quarter's end, and we are actively integrating these new properties into our portfolioyielding an impressive 200 Boe/d increase over earlier estimates during the first two weeks of operations. We are confident that these achievements will propel us toward continued success in the upcoming months.

Mr. McKinney further elaborated on the Company's strategic approach, stating, Our value-focused and proven strategy is designed to effectively navigate both high and low commodity price cycles, emphasizing the generation of free cash flow, maintaining a disciplined capital spending program, and prioritizing debt reduction. The flexibility in our contracting terms with drilling rigs and oil field service providers empowers us to quickly adapt our capital spending to stay aligned with our objectives. Our steadfast, value-focused strategy ensures we maintain the discipline and agility needed to navigate price volatility, positioning the Company for enduring success.

First Quarter Earnings Conference Call:
Ring Energy plans to issue its first quarter 2025 earnings release following the close of trading on Wednesday, May 7, 2025. The Company has scheduled a conference call for Thursday, May 8, 2025, at 11:00 a.m. Central Standard Time to discuss its operational and financial results for the first quarter of 2025. Interested parties can participate by dialing 833-953-2433 at least five minutes before the call begins. International callers may reach the call at 412-317-5762. The call will also be available via webcast on Rings website under the Investors section on the News & Events page. An audio replay will be accessible on the Companys website following the call.

ABOUT RING ENERGY, INC.:
Ring Energy, Inc. is an oil and gas exploration, development, and production company that focuses its operations on the development of assets in the Permian Basin. For more information about the Company and its activities, please visit

Elena Petrova