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Ring Energy Reports Third Quarter 2026 Results, Updates Guidance and Advances Disciplined Portfolio Strategy

REI
  • Ring Energy reported Q3 2026 revenue of $102.3 million, down 2% from Q2 2026, driven by a 12% decline in realized oil prices to $83.72 per barrel.
  • The company recorded a net loss of $16.6 million due to a $41.0 million unrealized loss on commodity derivatives, while Adjusted Net Income rose 14% to $27.3 million.
  • Adjusted EBITDA increased 5% to $57.1 million, and net cash provided by operating activities totaled $63.1 million.
  • Ring executed portfolio optimization by selling $30.5 million of non-core assets post-quarter and completing $13.4 million in divestitures in Gaines and Andrews Counties in October 2026.
  • The company acquired $18.8 million of leasehold interests in the Central Basin Platform, expanding its core footprint by over 25% in Crane and Ector Counties.
  • Debt under the revolving credit facility was reduced by $10.0 million to $350.0 million, improving the LQA leverage ratio to 1.5x from 1.7x.
  • Average daily sales volumes reached 20,635 Boe/d, up 3% from Q2 2026, with 20,635 Boe/d including 12,818 Bo/d of oil.
  • Capital expenditures totaled $64.0 million to accelerate the development program, reducing drilling costs to approximately $475 per foot.
  • The company brought online its first 2-mile horizontal wells, drilling nine year-to-date, while maintaining lease operating expenses at $10.20 per Boe.
  • All-in cash costs were reduced by 3% to $21.03 per Boe, and interest expense decreased 23% year-over-year to $7.7 million.
  • Q4 2026 guidance sets oil production between 12,900-13,500 Bopd with total sales of 20,400-21,200 Boepd.
  • Total liquidity stood at $236.4 million at September 30, 2026, comprising $1.5 million in cash and $235.0 million in borrowing base availability.
Company
Ring Energy, Inc.
Keywords
NYSE:REI, Ring Energy, Inc.