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Ring Energy Releases Second Quarter 2026 Results, Advances Development Program and Provides Initial 2027 Outlook

REI
  • Ring Energy reported Q2 2026 net income of $64.8 million ($0.27 per diluted share) & Adjusted Net Income of $24.0 million ($0.10 per diluted share).
  • Adjusted EBITDA increased 42% to $54.5 million in Q2 2026, while year-to-date Adjusted EBITDA totaled $92.8 million.
  • The Company reduced revolving credit facility borrowings by $66 million, increasing total liquidity to approximately $226.1 million as of June 30, 2026.
  • Q2 2026 production averaged 12,683 barrels of oil per day & 19,990 Boe per day, both within guidance ranges.
  • Lease operating expenses decreased to $10.12 per Boe, & all-in cash costs fell 5% to $21.68 per Boe for the first half of 2026.
  • Capital expenditures for Q2 2026 were approximately $43.2 million, funding the drilling of three ~2-mile horizontal wells & other infrastructure projects.
  • Updated guidance for H2 2026 targets oil production of 13,000 to 13,950 Bopd & LOE of $10.00 to $10.60 per Boe.
  • Initial 2027 guidance projects 10% production growth, 1% lower LOE, & 10% lower capital expenditures compared to full-year 2026.
  • Management announced an expanded development program focusing on longer lateral wells & co-horizontal drilling to enhance capital efficiency.
  • The Company maintains a leverage ratio of 2.02x as of June 30, 2026, & expects to fund the expanded program primarily through operating cash flow.