REI News & Analysis

Ring Energy (REI) Q2 Earnings: Sales Up 3% to 19,990 BOE/day

Ring Energy (NYSEAMERICAN:REI) reported second-quarter sales volumes of 19,990 barrels of oil equivalent (BOE) per day, a 3% increase from the previous quarter. Revenue reached approximately $104.7 million, with realized pricing rising 36% to $57.55 per BOE. The company's lease operating expense fell to $10.12 per BOE, down 3% from $10.41 per BOE in Q1. Ring also increased its second-half capital spending plan to between $80 million and $100 million, aimed at supporting production growth and infrastructure investments. This matters for investors as the company's improved financials and capital plans may positively impact its future performance.