Corporate Presentation November 2019 www.ringenergy.com www.ringenergy.com OTCQX:RNGE NYSE American: REI
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…
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…
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…
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…
Why REI Is Different Conventional producer, NOT an unconventional shale producer San Andres oil saturated dolomite reservoir with natural porosity and permeability Greater than 85% black oil(1) Long life reserves (30 years) with…
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…
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…
San Andres Cross Section www.ringenergy.com NYSE American: REI 10
Central Basin Platform Asset Asset Description 103,484 gross / 72,391 net total acres September net production of 3,977 Boe/d (97% oil) 372 gross active wells as of September 30, 2019 254 producing vertical wells 101 producing…
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 3,977 Boe/d 42 288 363 PDP PDNP PUD 78 17 (1),(2) (1),(3) (3) PUD…
Central Basin Well Economics & Type Curve San Andres Curve Parameters (1.0 mile lateral) Oil Gas Peak Rate 305 BOPD 95 MCFPD Average D&C Cost 1.9MM Initial Decline 96.5 96.5 B Factor 1.8 1.8 Average Cost per Final Decline 5 5…
Northwest Shelf Asset Asset Description 50,481 gross / 38,241 net total acres September net production of 6,313 Boe/d(1) (87% oil) 155 gross active wells as of September 30, 2019 65 operated horizontal San Andres wells 50 operated…
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…
Northwest Shelf Well Economics & Type Curve 1000 San Andres Curve Parameters (1.0 mile lateral) Oil Gas Peak Rate 350 BOPD 300 MCFPD Average D&C Cost 2.4MM Initial Decline 85 85 B Factor 1.5 1.5 Average Cost per 100 Final Decline…
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…
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 1,110 Boe/d 42 Behind pipe zones 109 of interest 363 29 PDP PDNP PUD…
Recent Developments & 2019 Capex Recent Developments During Q3 Ring drilled six one-mile horizontal San Andres wells on its Northwest Shelf assets acquired in April 2019. All six wells were completed below projected costs. Three…
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…
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…
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…
Net Asset Value Proved PV-10 (MM) Proved NAV/Share 137 425 Total Proved PV-10 1,123 42 11.16(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 18.47(1) 1,123…
Appendix www.ringenergy.com NYSE American: REI
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…
Management Team (cont'd) Daniel D. Wilson Executive Vice President and Chief Operating Officer Mr. Wilson, 58, has 30 years of experience in operating, evaluating and exploiting oil and gas properties. He has experience in production,…
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…
Income Statement 3 Months Ended September 30, 9 Months Ended September 30, 2019 2018 2019 2018 Revenue 50,339,105 32,687,179 143,471,645 92,503,453 Pre-Tax Income 11,663,278 6,290,574 35,705,294 20,903,288 Net Income…
Balance Sheet As of As of ( thousands) 9/30/2019 12/31/2018 Assets: Cash and Cash Equivalents 7,599 3,364 Other Current Assets 26,212 13,480 Total Current Assets 33,811 16,844 PP&E, net 919,462 542,011 Total Assets(1)…
Analyst Coverage Ring Energy, Inc. Analyst Coverage FIRM ANALYST(S) Alliance Global Partners Joel Musante Capital One Securities, Inc. Richard Tullis (504) 593-6118 richard.tulliscapitalone.com Coker Palmer Institutional Noel…
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