Quarterly / Earnings Reports | Fourth Quarter (4Q) Update | Capital Markets | Capital Expenditure - 2017
Ring Energy To Continue San Andres Development; 22 Wells Plan For 2017
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Ring Energy provided the following update in its Q4 2016 Update.
Ring Energy's CEO provided the following update.
"2016 started slowly as a year of patience and perseverance, and finished as one of pursuit and productivity. With low commodity prices continuing in early 2016, our staff did an excellent job of improving efficiencies by lowering operating costs while increasing production.
2016 Drilling Program : We focused on improving and upgrading our infrastructure. In the first six months of 2016, we drilled four (4) new development wells, three (3) on our Central Basin Platform ("CBP") and one on our Delaware Basin ("DB") asset.
We completed an internal study started in late 2015 of horizontal drilling operations and techniques in the CBP, specifically in the San Andres formation, and…
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