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Ring Bolsters 2014 CapEx; Will Add Rig in the Permian
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Ring Energy, Inc. has reported financial results for the three months and nine months ended September 30, 2014.
Ring’s Chief Executive Officer, Mr. Kelly Hoffman, stated, "I am extremely proud of the job our operations team has done. We continued to execute our business plan, despite severe weather disruptions resulting in as many as 20 producing wells being shut in and numerous other wells delayed in various stages of drilling or completion during the third quarter. Our production grew close to 20% over the second quarter despite these problems. We continued to add acreage resulting in additional potential drill sites. We estimate the Company currently has over 2,100 potential drilling locations.
"We have added a third drilling rig and plan to drill approximately 15 new wells per month…
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