Exploration & Production | Operational Updates | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update
Ring IPs Three Permian Wells in 4Q; Refracs, Recompletions
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Ring Energy, Inc. announced its operations update for the fourth quarter and year end of 2015.
In the last three months of 2015, the Company drilled and placed into production three new development wells on its Central Basin properties. For the full year of 2015, the Company drilled eight new development wells on its Central Basin properties, re-completed five existing wells from the Glorieta to the San Andres formation and re-fraced three additional wells. On its Delaware Basin property, the Company drilled one new development well, while focusing on infrastructure improvements.
Net production for the quarter ended December 31, 2015, was approximately 218,500 BOEs (Barrel of Oil Equivalent), as compared to net production of 155,100 BOEs for the same quarter in 2014, a 40.9% increase…
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