Ring Energy, Inc. Reaffirms Sales Volume Guidance for the Fourth Quarter and Full Fiscal Year 2023
November 09, 2022 at 05:26 pm EST
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Ring Energy, Inc. reaffirmed sales volume guidance for the fourth quarter and full fiscal year 2023. For the quarter, the company expects total sales volume to be in the range of 18,000 Boe/d to 19,000 Boe/d.
The company plans to maintain or slightly grow 2023 full year average sales volumes compared to anticipated fourth quarter of 2022 sales volumes.
Ring Energy, Inc. is an oil and gas exploration, development, and production company. The Company is focused on the development of its Permian Basin assets. Its primary drilling operations target the oil and liquids-rich producing formations in the Northwest Shelf and the Central Basin Platform, in the Permian Basin in Texas. The Company's leasehold acreage positions total approximately 96,127 gross (80,535 net) acres, and it holds interests in approximately 1,043 gross (864 net) producing wells. All of its properties are located in the Permian Basin and its proved reserves are oil-weighted, with approximately 63% consisting of oil, 19% consisting of natural gas, and 18% consisting of natural gas liquids. Of those reserves, approximately 68% are classified as proved developed and 32% are classified as proved undeveloped. Its proved reserves are approximately 129.8 million barrels of oil equivalent (BOE).
RING ENERGY, INC. 
