Brief: Ring Energy Announces Results Of Fall 2020 Redetermination Of Its Senior Credit Facility

Ring Energy

23/12/2020 13:36

Dec 23 (Reuters) - Ring Energy Inc  REI.A :
    * RING ENERGY, INC. ANNOUNCES RESULTS OF FALL 2020
REDETERMINATION
OF ITS SENIOR CREDIT FACILITY
    * RING ENERGY INC - BORROWING BASE WAS SET AT $350 MILLION,
OR
ABOUT 6.7% LOWER THAN ITS PREVIOUS BORROWING BASE OF $375
MILLION
    * RING ENERGY INC - COMPANY ALSO PAYS DOWN REVOLVER AND ADDS
ADDITIONAL OIL HEDGES
    * RING ENERGY INC - PAID DOWN ADDITIONAL $45 MILLION AGAINST
SENIOR REVOLVING CREDIT FACILITY
    * RING ENERGY INC - ADDED 1,500 BARRELS OF OIL PER DAY IN
ADDITIONAL OIL HEDGES
    * RING ENERGY INC - SECURED FOUR OIL HEDGES FOR CALENDAR
YEAR 2022
    * RING ENERGY INC - TOTAL AMOUNT OF OIL HEDGED FOR CALENDAR
YEAR
2021 IS 9,000 BOPD, A 50/50 BALANCE OF COLLARS AND SWAPS

Source text for Eikon:  ID:nBwbppJy1a 
Further company coverage:  REI.A 

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