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High Quality Inventory Plus Improving Completion Design Delaware Basin Well Production Profile Optimizing Development Economics 90,000 Increased Well Spacing Utilizing 1,000 ft well spacing 80,000 Larger Completion Design 2022 Production Profile Placed 19 Delaware wells on-line 19% Testing 3,000 lb/ft of proppant 70,000 Improvement Average Cumulative Production per Well Improved Lateral Placement 60,000 Rotary steering to optimize lateral placement (Barrels of Oil) 50,000 Delaware Basin Acreage 40,000 2021 Production Profile Placed 35 Delaware wells on-line 30,000 20,000 10,000 - 0 20 40 60 80 Days On Production 10
Callon Petroleum Co.
August 2022

NWS HZ Well Performance & Costs Significant Improvements Driving Top Tier Returns NWS HZ Performance Average Cum BOE vs Time (1 Mile Lateral)2,3 D&C Cost Range per Year (1 Mile Lateral)1 3.5 M 100,000 BOE (85-90% Oil) 3.0 M 2.5 M 10,000 2.0 M 2015 2016 & 2017 2018 1.5 M 530 Avg 2019 -2021 2019 2020 2021 1H 2022 2022 1,000 D&C Cost Range per Year (1.5 Mile Lateral)1 NWS HZ Performance Average Cum BOE vs Time (1.5 Mile Lateral)2 4.0 M 100,000 420 Avg BOE (85-90% Oil) 410 Avg 3.5 M 3.0 M 10,000 2.5 M 2016 & 2017 2018 2019,2020 & 2021 2.0 M 2019 2020 2021 1H 2022 1,000 1. Wells categorized by spud year; capex ties to financials 0 Months 6 180 12 360 2. 3. Downtime associated with 2020 pandemic curtailment removed Well set comprised of single mile wells normalized to 5,080 lateral length (does not include 1.5 Mile wells) 10 www.ringenergy.com NYSE American: REI
Ring Energy Inc.
August 2022

MIDLAND BASIN INVENTORY UPSIDE ON EXISTING ACREAGE UP TO 8 PROSPECTIVE INTERVALS MIDLAND BASIN I N V E N TO RY U P S I D E LEONARD LEONARD 6,500 First test 560 days on production, 236 MBoe produced to MIDDLE date from 9,900 lateral 7,100 SPRABERRY Six Leonard tests planned for 1H23 JO MILL DEAN 7,700 Among best portfolio returns to date. Smails Dean well, fully LOWER bounded, averaged 30-day peak IP rate of 3,850 Boe/d at 7,800 SPRABERRY 91% oil (effective lateral of 13,737) 14 wells completed to date averaged 30-day peak IP rate of DEAN 1,440 Boe/d at 89% oil (average effective lateral 11,373) 8,200 Incorporating into optimization/co-development plan WOLFCAMP A 8,400 WOLFCAMP D Initial test well (2019) averaged 30-day peak IP rate of WOLFCAMP B 8,600 1,400 Boe/d with 80% oil (effective lateral 7,920) May 2022 test well averaged 30-day peak IP rate of 1,900 Boe/d with 79% oil (effective lateral 10,166) WOLFCAMP D Four additional Wolfcamp D wells planned in 2022 9,500 16
SM Energy Company
August 2022

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