Ring Energy Reports Third Quarter 2026 Results, Updates Guidance and Advances Disciplined Portfolio Strategy
Key Highlights
- ➤Adjusted net income $27.3M, up 14% sequentially, despite lower oil prices
- ➤Adjusted EBITDA $57.1M, up 5% sequentially, while revenue declined 2%
- ➤Q4 oil production guidance set at 12,900-13,500 Bopd
- ➤2027 capital spending guidance set at $135M-$165M
- ➤Borrowings reduced $10M to $350M; leverage ratio improved to 1.5x
Expert Statements
Paul D. McKinney, Chairman of the Board and Chief Executive Officer of Ring Energy
“This was an exciting and highly productive quarter for Ring.”
Paul D. McKinney, Chairman of the Board and Chief Executive Officer of Ring Energy
“We delivered strong operational results, advanced our longer-lateral development program and took decisive steps to improve the depth and quality of our portfolio.”
Paul D. McKinney, Chairman of the Board and Chief Executive Officer of Ring Energy
“In a single quarter, we monetized approximately $30.5 million of non-core assets, added strategic acreage in the heart of our Central Basin Platform position and reduced debt by $10.0 million.”
Paul D. McKinney, Chairman of the Board and Chief Executive Officer of Ring Energy
“With strong commodity prices, encouraging well performance and the cash surplus from asset dispositions, we deliberately chose to outspend adjusted free cash flow this quarter to accelerate our program.”
Paul D. McKinney, Chairman of the Board and Chief Executive Officer of Ring Energy
“Having said that, we have not lost our focus on capital discipline – we intend to be cash flow positive during the fourth quarter and for the full year.”
Paul D. McKinney, Chairman of the Board and Chief Executive Officer of Ring Energy
“We are proud of what our team accomplished so far this year and remain focused on debt reduction and improving our leverage ratio metrics.”
Paul D. McKinney, Chairman of the Board and Chief Executive Officer of Ring Energy
“Operationally, we grew production 3% from the second quarter and kept lease operating expense below the mid-point of our guidance range while drilling eight horizontal wells and completing seven, including our first five, 2-mile co-developed laterals in Crane County.”
Paul D. McKinney, Chairman of the Board and Chief Executive Officer of Ring Energy
“These results reinforce our confidence in the development program and demonstrate the execution capability of our team.”
Paul D. McKinney, Chairman of the Board and Chief Executive Officer of Ring Energy
“The acreage we acquired is particularly compelling because it expands our inventory within an area we know well, where we already operate and where we see attractive opportunities to generate strong returns.”
Paul D. McKinney, Chairman of the Board and Chief Executive Officer of Ring Energy
“By selling assets that were not expected to compete for near-term capital, we effectively recycled capital from lower-priority assets into higher-quality inventory while also strengthening the balance sheet.”
Paul D. McKinney, Chairman of the Board and Chief Executive Officer of Ring Energy
“We believe this is a compelling example of how disciplined capital allocation can strengthen Ring and create stockholder value.”
Paul D. McKinney, Chairman of the Board and Chief Executive Officer of Ring Energy
“We intend for this to be an integral part of our strategy going forward.”
Paul D. McKinney, Chairman of the Board and Chief Executive Officer of Ring Energy
“We entered 2026 focused on moving Ring into its next phase with greater capital efficiency, and the progress we made this quarter represents an important step forward.”
Paul D. McKinney, Chairman of the Board and Chief Executive Officer of Ring Energy
“We have a stronger portfolio with a deeper inventory of low break-even development opportunities and greater financial flexibility.”
Paul D. McKinney, Chairman of the Board and Chief Executive Officer of Ring Energy
“We are energized by the momentum across the business and believe Ring is increasingly well positioned to deliver durable and competitive, per-share value for our stockholders.”
THE WOODLANDS, Texas, Nov. 05, 2026 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today reported operational and financial results for the third quarter of 2026 and provided an update on its guidance, development program, portfolio optimization initiatives and balance sheet.
During the third quarter, Ring continued to execute its strategy of improving its capital efficiency and the quality of its asset portfolio while strengthening its balance sheet. The Company completed approximately $30.5 million of non-core asset sales, acquired approximately $18.8 million of leasehold interests in the Central Basin Platform (“CBP”) and reduced borrowings under its revolving credit facility by $10.0 million. The acquired leasehold is positioned within Ring's existing CBP operating footprint, supporting the Company's strategy of expanding higher-return development inventory while increasing financial flexibility. Subsequent to the quarter, on October 30th, Ring closed another divestiture of non-core assets in Gaines and Andrews Counties for ~ $13.4 million.
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