Brief: Ring Energy Announces $25 Mln Debt Reduction In Q2 2023 And Sale Of Non-Core Delaware Basin Assets

Ring Energy

05/07/2023 11:48

July 5 (Reuters) - Ring Energy Inc  REI.A :
    * RING ENERGY ANNOUNCES $25 MILLION DEBT REDUCTION IN Q2
2023 AND
SALE OF NON-CORE DELAWARE BASIN ASSETS
    * RING ENERGY - DELAWARE TRANSACTION WAS COMPLETED IN Q2 OF
2023
AND INCLUDED A GROSS SALES PRICE OF $8.25 MILLION
    * RING ENERGY INC - NOT REVISING ITS FULL YEAR 2023
PRODUCTION
GUIDANCE AS A RESULT OF SALE
    * RING ENERGY INC - ACTIVELY PURSUING SALE OF ITS OPERATED
ASSETS
IN NEW MEXICO
    * RING ENERGY INC - CONSOLIDATING ITS DEVELOPMENT EFFORTS IN
ITS
CORE OPERATING AREAS IN TEXAS
    * RING ENERGY INC - NEW MEXICO ASSETS FOR SALE INCLUDE ABOUT
5,700
GROSS (5,180 NET) ACRES AND CURRENTLY PRODUCE ABOUT 300 NET
BOE/D (93% OIL)

Source text for Eikon:  ID:nGNX4HjNYm 
Further company coverage:  REI.A 

 (Reuters.Briefs@thomsonreuters.com)