Q1 2025 Ring Energy Inc Earnings Call Transcript

May 8, 2025 / 04:00 PM GMT

Release Date Price: $0.82 (-3.54%)

Transcript 8-K10-Q

Key Points

Positve

Ring Energy Inc (REI) exceeded its oil sales volume guidance, selling 12,074 barrels of oil per day, surpassing the high end of their guidance range.
The company improved capital efficiency with average well costs coming in around 7% less than budgeted.
The acquisition of Limerock CBP assets was highly accretive and exceeded initial forecasts, adding over 40 gross drilling locations to their inventory.
Ring Energy Inc (REI) reported a meaningful increase in adjusted free cash flow, supported by $120 million of oil-weighted proved developed reserves.
The company reduced total capital spending by more than 47% for the final three quarters of 2025, while still projecting a 2% annual production growth over 2024.

Negative

Ring Energy Inc (REI) experienced weather-related downtime in January, impacting production.
The company reported a sequential revenue decrease of 5% from the fourth quarter, driven by a negative $7.3 million volume variance.
Realized natural gas pricing remained slightly negative, although there was a material improvement from the previous quarter.
The company faces challenges in reducing its leverage ratio due to the low price environment, which affects the denominator in the leverage calculation.
Ring Energy Inc (REI) anticipates a modest reduction in production during the last half of the year due to reduced capital spending.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

REI.A - Ring Energy Inc
Q1 2025 Ring Energy Inc Earnings Call
May 08, 2025 / 04:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day and welcome to the Ring Energy's first quarter 2025 earnings conference call.

All participants will be in a listen-only mode.

Should you need assistance, please signal a conference specialist by pressing the start key followed by 0.

After today's presentation, there will be an opportunity to ask questions.

To ask a question, you may press star, then one on a touchstone phone.

To withdraw your question, please press star, then 2.

Please note this event is being recorded.

I would now like to turn the conference over to Al Petrie, investor relations. Please go ahead.

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