Ring Energy ( (REI) ) has issued an announcement.
On February 25, 2025, Ring Energy announced a Purchase and Sale Agreement to acquire oil and gas interests from Lime Rock Resources for $100 million, with the transaction expected to close by the end of the first quarter of 2025. This acquisition aims to expand Ring’s Central Basin Platform operations in Andrews County, Texas, enhancing operational synergies and shareholder value by integrating high-quality assets, increasing free cash flow, and strengthening the company’s inventory of drilling locations.
More about Ring Energy
Ring Energy, Inc. is an oil and gas exploration, development, and production company with current operations focused on the development of its Permian Basin assets.
YTD Price Performance: -7.86%
Average Trading Volume: 1,752,761
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $255.7M
See more insights into REI stock on TipRanks’ Stock Analysis page.