Ring Energy, Inc. (REI)
Ring Energy, Inc. operates in the Oil & Gas Exploration & Production industry of the Energy sector, headquartered in The Woodlands, TX, US. The stock last traded at $1.49, up 4.20% on the session, giving a market capitalisation of $388.2M. On trailing twelve-month figures it carries a trailing P/E of -1.35, a net margin of -68.0%. Its beta of 0.82 implies it has historically moved less than the broad market.
Ring Energy, Inc. operates as an oil and natural gas exploration and production firm, concentrating its efforts on the acquisition, development, and extraction of these resources across Texas and New Mexico. By the close of 2021, specifically December 31st, the company had established proved reserves totaling roughly 77.8 million barrels of oil equivalent. Its asset portfolio includes significant acreage: 18,882 net developed acres alongside 1,406 net undeveloped acres in Texas's Andrews and Gaines counties; an additional 18,437 net developed acres situated in Culberson and Reeves counties, Texas; and a combined 13,662 net developed acres with 11,993 net undeveloped acres located across Yoakum, Runnels, and Coke Counties in Texas, as well as Lea County, New Mexico. The company's oil and natural gas output is primarily distributed to end-users, marketing firms, and other various buyers. Incorporated in 2004, Ring Energy, Inc. was initially known as Transglobal Mining Corp. until its name was officially changed in March 2008. The company's principal office is located in The Woodlands, Texas.
Ring Energy, Inc. is most often compared with the following Energy names: