Ring Energy ( (REI) ) just unveiled an announcement.
Ring Energy, Inc. reported a robust third quarter in 2024 with record sales of 20,108 barrels of oil equivalent per day, despite a decrease in realized crude oil prices. The company successfully reduced its debt by $15 million, ending with $392 million outstanding, while maintaining positive cash flow for 20 consecutive quarters. Strategic divestitures and a focused development campaign have positioned Ring Energy for continued success, with plans to explore new opportunities and prioritize debt reduction influenced by commodity prices. The company’s performance underscores its commitment to maximizing cash flow and shareholder value.
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