Current REI Stock Info

Extends Permian Position
Ring Energy (ticker: REI) followed through on its acquisition comments in its Q1’15 conference call, announcing purchase of 14,000 net acres in the Delaware Basin in a news release on May 26, 2015. The $75 million transaction includes current net production of 1,300 BOEPD, net reserves of 4.7 MMBOE and a PV-10 value of $128.5 million. Average working interest is 98% to Ring, along with an average net revenue interest of 78%.

David Fowler, President of Ring Energy, said in the company’s Q1’15 call that REI was seekin...

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