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Energy Prospectus Group Luncheon – Ring Energy Inc.

Ring Energy Inc. · May 15, 2019 · 30 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 1
    Energy Prospectus Group Luncheon May 2019 www.ringenergy.com www.ringenergy.com OTCQX:RNGE NYSE American: REI
  2. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 2
    Ring Energy Team Management Team Key Board Members Kelly Hoffman Lloyd T. (Tim) Rochford Chief Executive Officer and Director Co-Founder and Chairman of the Board Co-Founded AOCO and pioneered Fuhrman Mascho Co-Founder of Arena…
  3. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 3
    Investment Highlights Build strong Permian acreage position with a focused asset base in the Central Basin Platform (CBP), Northwest Shelf (NWS) and Delaware Basins Permian Focus The Permian offers industry-leading break-evens and is…
  4. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 4
    Ring Co-Founders Prior Success Proven and simple strategy Arena Resources was formed in 2001 by Tim Rochford and Stan McCabe with a focus of growing production and reserves organically and via acquisition Sold in July 2010 for…
  5. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 5
    Company Strategy Build premier Permian Basin E&P company headquartered in Midland Exploit acreage position through highly economic, vertical and horizontal wells using the most recent drilling and completion techniques Acquire…
  6. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 6
    Executive Summary Company Profile Midland, Texas based E&P company focused on domestic exploration and production of oil and natural gas with current operations primarily in Northwest Shelf Texas Pro forma Year End 2018 Proved…
  7. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 7
    Why Horizontal San Andres Focused Greater than 80% IRR Conventional dolomite oil saturated reservoir Greater than 90% black oil(1) Medium grade with an API gravity of 32 to 34 Long life reserves with less than 6% terminal decline…
  8. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 8
    Proven Reservoir San Andres Overview Permian Basin Geology Over the past 90 years the Permian Basin has produced 30 BBbl The San Andres produced 12 BBbl and 3 Tcf during that same time (40% of total Permian Basin production) Highly…
  9. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 9
    San Andres Cross Section www.ringenergy.com NYSE American: REI 10
  10. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 10
    Central Basin Platform Asset Asset Description 113,120 gross / 80,698 net total acres Estimated current net production of 4,865 Boe/d (98% oil) 361 gross active wells 254 producing vertical wells 94 producing horizontal wells as of…
  11. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 11
    Central Basin Drilling Inventory 769 78 17 PUD (1),(2) Probable & Possible (1),(3) Prospective San (3) Andres Horizontal Spacing All 1.0 mile and 1.5 mile horizontal San Andres wells; 6-8 wells per 640 acre section…
  12. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 12
    Central Basin Well Economics & Type Curve San Andres Curve Parameters (1.0 mile lateral) Oil Gas Initial Rate 305 BOPD 74 MCFPD Average Well Cost 2.2MM Intital Decline 93.5% 96.6% B Factor 1.8 1.8 Final Decline 6.0% 6.0% Cost per…
  13. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 13
    Northwest Shelf Asset Asset Description 49,754 gross / 38,230 net total acres Estimated current net production of 4,515 Boe/d (90% oil) 148 gross active wells 53 operated horizontal San Andres wells 50 operated vertical wells 24…
  14. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 14
    Northwest Shelf Drilling Inventory 363 98 37 (1) (1) (1) PUD Probable & Possible Prospective San Andres Horizontal Spacing All 1.0 mile and 1.5 mile horizontal San Andres wells; 6-8 wells per 640 acre section…
  15. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 15
    Northwest Shelf Well Economics & Type Curve San Andres Curve Parameters (1.0 mile lateral) Oil Gas Initial Rate 325 BOPD 160 MCFPD Average Well Cost 2.4MM Intital Decline 90.0% 90.0% B Factor 1.45 1.45 Final Decline 5.0% 5.0% Cost…
  16. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 16
    Delaware Basin Assets Asset Description 20,218 gross / 19,917 net total acres Culberson and Reeves Bell Canyon: 20,218 gross / 19,917 net Cherry Canyon: 14,098 gross / 13,798 net Counties, Texas Brushy Canyon: 11,453 gross / 11,162…
  17. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 17
    Delaware Basin Drilling Inventory 577 Behind pipe zones 109 of interest 468 Vertical Cherry Canyon 179 Horizontal 10 Horizontal 191 4 Vertical 169 43 169 Vertical 39 39 PUD (1) Probable & Possible (2)…
  18. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 18
    Recent Developments & 2019 Capex Guidance Recent Developments On April 11, 2019, Ring Energy, Inc. (Ring or the Company) announced that it had closed its transaction with Wishbone Energy Partners (the Seller or Wishbone). The total…
  19. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 19
    Growth in Reserves & Production Ring was able to add scale through its leasing, acquisition, and horizontal drilling activity significantly growing production over the last several years The low-decline nature of the Permian Basin…
  20. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 20
    Potential Locations by Tier and Area Location Tiers (All Areas) Tier 1: Highest confidence wells. These wells would represent type curve production. At 50 per BOE received, they reflect an IRR over 80%, a net reserve of greater than…
  21. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 21
    Permian Acreage Growth Date Permian Gross Permian Net Ring Energy Acreage Growth Acres Acres 3/31/2019 183,092 138,845 200,000 YE 2013 YE 2014 YE 2015 YE 2016 YE 2017 YE 2018 12/31/2018 127,421 95,945 9/30/2018 121,813 90,530…
  22. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 22
    Net Asset Value Proved PV-10 (MM) Proved NAV/Share 137 425 Total Proved PV-10 1,123 42 11.53(1) 653 363 46 PDP PDNP PUD 3P PV-10 (MM) 3P NAV/Share 160 336 160 Total 3P 336 PV-10 1,619 1,123 18.84(1) 1,123…
  23. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 23
    Appendix www.ringenergy.com NYSE American: REI
  24. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 24
    Management Team Lloyd T. (Tim) Rochford Co-Founder and Chairman of the Board Mr. Rochford, 72, has been active as an individual consultant and entrepreneur in the oil and gas industry since 1973. During that time, he has been an…
  25. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 25
    Management Team (cont'd) David A. Fowler President and Director Mr. Fowler, 60, has served in several management positions for various companies in the insurance and financial services industries. In 1994, he joined Petroleum Listing…
  26. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 26
    Oil and Gas Reserves as of 12/31/2018 Ring Crude Oil Natural Gas NGL Total PV-10 (MBbls) (MMcf) (MBbl) (MBoe) (in thousands) Proved Developed Producing Reserves: 17,774 27,799 - 22,407 362,870 Proved Developed Non-Producing…
  27. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 27
    Income Statement 3 Months Ended March 31, 12 Months Ended December 31, 2019 2018 2018 2017 Revenue 41,798,315 29,891,391 120,065,361 66,699,700 Pre-Tax Income 9,134,019 8,633,863 12,445,481 12,170,040 Net Income 11,089,443…
  28. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 28
    Balance Sheet As of As of ( thousands) 3/31/2019 12/31/2018 Assets: Cash and Cash Equivalents 2,607 3,364 Other Current Assets 33,926 13,480 Total Current Assets 36,533 16,844 PP&E, net 878,569 542,011 Total Assets(1)…
  29. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 29
    Analyst Coverage Ring Energy, Inc. Analyst Coverage FIRM ANALYST(S) Alliance Global Partners Joel Musante, CFA (800) 727-7922 ext: 4782 B. Riley FBR, Inc. Rehan Rashid (703) 469-1184 rrashidbrileyfbr.com Capital One Securities,…
  30. Energy Prospectus Group Luncheon – Ring Energy Inc. – slide 30

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