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Ring Ups Output 10% YOY to 240,000 BOEs; Spins Bit at First 2017 Well
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Ring Energy detailed its operations update for the fourth quarter of 2016.
Key Points: Net production for the fourth quarter of 2016 was approximately 240,000 BOEs compared to net production of 218,500 BOEs for the same quarter in 2015 (up +10% YOY) In the fourth quarter, Ring continued to expand its acreage position in the CBP, adding over 14,600 gross (9,700 net) acres to its existing “horizontal” acreage. Commenced drilling on the first of 22 projected horizontal wells in the CBP for 2017 Acreage AdditionsIn the fourth quarter, Ring continued to expand its acreage position in the CBP, adding over 14,600 gross (9,700 net) acres to its existing “horizontal” acreage. As of December 31, 2016, the Company had total gross acreage of 53,582 acres (32,663 net) in the CBP. Of that…
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