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October 2019 Corporate Presentation – Ring Energy Inc.

Ring Energy Inc. · Oct 9, 2019 · 31 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. October 2019 Corporate Presentation – Ring Energy Inc. – slide 1
    Corporate Presentation October 2019 www.ringenergy.com www.ringenergy.com OTCQX:RNGE NYSE American: REI
  2. October 2019 Corporate Presentation – 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 Executive Chairman of the Board Co-Founded AOCO and pioneered Fuhrman Mascho Co-Founder of…
  3. October 2019 Corporate Presentation – 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. October 2019 Corporate Presentation – 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. October 2019 Corporate Presentation – 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. October 2019 Corporate Presentation – Ring Energy Inc. – slide 6
    Why REI Is Different Conventional producer, NOT a shale producer San Andres oil saturated dolomite reservoir Greater than 90% black oil(1) Medium grade with an API gravity of 32 to 34 Long life reserves (30 years) with less than…
  7. October 2019 Corporate Presentation – Ring Energy Inc. – slide 7
    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…
  8. October 2019 Corporate Presentation – Ring Energy Inc. – slide 8
    Proven Conventional 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…
  9. October 2019 Corporate Presentation – Ring Energy Inc. – slide 9
    San Andres Cross Section www.ringenergy.com NYSE American: REI 10
  10. October 2019 Corporate Presentation – Ring Energy Inc. – slide 10
    Central Basin Platform Asset Asset Description 111,834 gross / 80,083 net total acres June net production of 4,591 Boe/d (97% oil) 372 gross active wells as of June 30, 2019 254 producing vertical wells 101 producing horizontal…
  11. October 2019 Corporate Presentation – Ring Energy Inc. – slide 11
    Central Basin Drilling Inventory Total Proved PV-10 (MM) 769 71 Proved Reserves 22.0 MMBoe 137 13 Proved PV-10 372 MM 372 Current Production 4,591 Boe/d 42 288 363 PDP PDNP PUD 78 17 (1),(2) (1),(3) (3) PUD…
  12. October 2019 Corporate Presentation – Ring Energy Inc. – slide 12
    Central Basin Well Economics & Type Curve San Andres Curve Parameters (1.0 mile lateral) Oil Gas Peak Rate 305 BOPD 74 MCFPD Average Well Cost 2.2MM Initial Decline 93.5% 96.6% B Factor 1.8 1.8 Final Decline 6.0% 6.0% Cost per DSU…
  13. October 2019 Corporate Presentation – Ring Energy Inc. – slide 13
    Northwest Shelf Asset Asset Description 50,481 gross / 38,241 net total acres June net production of 5,072 Boe/d (91% oil) 149 gross active wells as of June 30, 2019 59 operated horizontal San Andres wells 50 operated vertical…
  14. October 2019 Corporate Presentation – Ring Energy Inc. – slide 14
    Northwest Shelf Accretive Drilling Inventory Total Proved PV-10 (MM) 363 Proved Reserves 34.3 MMBoe - 94% 137 Proved PV-10 582 MM - 107% 582 288 290 Production 6,000 Boe/d - 98% 42 Purchase Price 300 MM 363 4 Assets acquired…
  15. October 2019 Corporate Presentation – Ring Energy Inc. – slide 15
    Northwest Shelf Well Economics & Type Curve 1000 San Andres Curve Parameters (1.0 mile lateral) Oil Gas Peak Rate 325 BOPD 160 MCFPD Average Well Cost 2.4MM Initial Decline 90.0% 90.0% B Factor 1.45 1.45 100 Final Decline 5.0%…
  16. October 2019 Corporate Presentation – 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. October 2019 Corporate Presentation – Ring Energy Inc. – slide 17
    Delaware Basin Drilling Inventory Total Proved PV-10 (MM) Proved Reserves 14.6 MMBoe 137 66 Proved PV-10 169 MM 577 75 169 Current Production 1,137 Boe/d 42 Behind pipe zones 109 of interest 363 29 PDP PDNP PUD…
  18. October 2019 Corporate Presentation – Ring Energy Inc. – slide 18
    Recent Developments & 2019 Capex Recent Developments Upon closing the Yoakum County assets on April 11th, Ring Energy, Inc. (Ring or the Company) immediately spud its first 1-mile San Andres horizontal well on the newly acquired…
  19. October 2019 Corporate Presentation – Ring Energy Inc. – slide 19
    2019 Amended Capex Objectives 2019 Amended Capex Objectives: Cash flow neutrality by year-end 2019 Modest year-over-year production growth Manage debt Reduced capex from preliminary 154 MM to amended 152 MM Maintain one rig in…
  20. October 2019 Corporate Presentation – Ring Energy Inc. – slide 20
    Growth in Reserves & Production Transformative acquisition of Wishbone in early 2019 has propelled growth and positioned the Company to reach cash flow neutrality by year-end 2019 Acquisition increased proved reserves from 36.6 MMBoe…
  21. October 2019 Corporate Presentation – Ring Energy Inc. – slide 21
    Potential Locations by Tier and Area Location Tiers (All Areas) Tier 1: Highest confidence wells. These wells would represent type curve production. At 50/Boe realized price received, they reflect an IRR over 80%, a net reserve of…
  22. October 2019 Corporate Presentation – Ring Energy Inc. – slide 22
    Permian Acreage Growth Date Permian Gross Permian Net Ring Energy Acreage Growth Acres Acres 6/30/2019 182,533 138,241 200,000 YE 2013 YE 2014 YE 2015 YE 2016 YE 2017 YE 2018 3/31/2019 183,092 138,845 12/31/2018 127,421 95,945…
  23. October 2019 Corporate Presentation – Ring Energy Inc. – slide 23
    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…
  24. October 2019 Corporate Presentation – Ring Energy Inc. – slide 24
    Appendix www.ringenergy.com NYSE American: REI
  25. October 2019 Corporate Presentation – Ring Energy Inc. – slide 25
    Management Team Lloyd T. (Tim) Rochford Co-Founder and Chairman of the Board Mr. Rochford, 73, has been active as an individual consultant and entrepreneur in the oil and gas industry since 1973. During that time, he has been an…
  26. October 2019 Corporate Presentation – Ring Energy Inc. – slide 26
    Management Team (cont'd) David A. Fowler President and Director Mr. Fowler, 61, has served in several management positions for various companies in the insurance and financial services industries. In 1994, he joined Petroleum Listing…
  27. October 2019 Corporate Presentation – Ring Energy Inc. – slide 27
    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…
  28. October 2019 Corporate Presentation – Ring Energy Inc. – slide 28
    Income Statement 3 Months Ended June 30, 6 Months Ended June 30, 2019 2018 2019 2018 Revenue 51,334,225 29,924,883 93,132,540 59,816,274 Pre-Tax Income 14,907,999 5,978,851 24,042,016 14,612,714 Net Income 12,375,256…
  29. October 2019 Corporate Presentation – Ring Energy Inc. – slide 29
    Balance Sheet As of As of ( thousands) 6/30/2019 12/31/2018 Assets: Cash and Cash Equivalents 10,579 3,364 Other Current Assets 28,032 13,480 Total Current Assets 38,611 16,844 PP&E, net 911,854 542,011 Total Assets(1)…
  30. October 2019 Corporate Presentation – Ring Energy Inc. – slide 30
    Analyst Coverage Ring Energy, Inc. Analyst Coverage FIRM ANALYST(S) Alliance Global Partners Joel Musante, CFA (800) 727-7922 ext: 4782 Capital One Securities, Inc. Richard Tullis (504) 593-6118 richard.tulliscapitalone.com…
  31. October 2019 Corporate Presentation – Ring Energy Inc. – slide 31

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