Exploration & Production | Drilling / Well Results | Top Story | Quarterly / Earnings Reports | Second Quarter (2Q) Update
Ring Grows Permian Holdings, Ups Production 521% in 2Q
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Ring Energy, Inc. has reported its operations update for the second quarter of 2014.
During the second quarter, Ring drilled 36 development wells and one salt water disposal well on their Texas properties, 27 of which were completed and placed in production by June 30, 2014. The remaining nine development wells are in varying stages of completion and will be placed in production in the third quarter. On June 30th, the Company drilled its 100th new development well since commencing drilling operations in June 2013 and continues to have a 100% success rate on development wells drilled on their Texas acreage.
As a result of the continuing development program, net production for the quarter ended June 30, 2014 was approximately 118,000 BOEs (Barrel of Oil Equivalent), as compared to net…
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