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4Q and Full Year 2021 – Ring Energy Inc.

Ring Energy Inc. · Mar 3, 2022 · 29 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. 4Q and Full Year 2021 – Ring Energy Inc. – slide 1
    VALUE FOCUSED PROVEN STRATEGY www.ringenergy.com NYSE American: REI
  2. 4Q and Full Year 2021 – Ring Energy Inc. – slide 2
    Ring Energy Independent Oil & Gas Company Currently Focused on Conventional Permian Assets in Texas & New Mexico Deliver competitive and sustainable returns by developing, acquiring, exploring for, and commercializing oil and natural…
  3. 4Q and Full Year 2021 – Ring Energy Inc. – slide 3
    Q4 2021 Highlights Executing our Strategy Grew net sales by 11% compared to Q3 Q4 2021 Highlights Adjusted EBITDA grew 21% over Q3 24.1 MM 9.3 1 MM Net Income Free Cash Flow Paid down debt by 5.0 million utilizing a portion of…
  4. 4Q and Full Year 2021 – Ring Energy Inc. – slide 4
    SEC Proved Reserves 1 Year-End 2021 Net 2 2021 SEC Pricing Net Oil, Net Gas, Net PV-10 , Reserve Category Capex, 1P Summary MBbl MMcf MBOE MM MM Oil/Bbl Gas /Mmbtu PD 36,821 39,749 43,446 31 795 63.04 3.598 PUD 29,018…
  5. 4Q and Full Year 2021 – Ring Energy Inc. – slide 5
    2021 Value-Focused Initiatives 1 Successfully Executed Proven Strategy Generated 83.3MM in Adj. EBITDA (included burdensome 45/Bbl hedges) Pursue Operational Excellence Low Lifting Cost2 at 9.75/Boe Safe, Efficient, & Disciplined…
  6. 4Q and Full Year 2021 – Ring Energy Inc. – slide 6
    Committed to ESG Issued Inaugural ESG Report in Q4 2021 7 www.ringenergy.com NYSE American: REI
  7. 4Q and Full Year 2021 – Ring Energy Inc. – slide 7
    Asset Areas
  8. 4Q and Full Year 2021 – Ring Energy Inc. – slide 8
    San Andres Reservoir Proven, Conventional, Top Tier Returns San Andres Delaware Midland Hz Hz Hz Permian Basin has produced 30 BBbl, High ROR Oil Play San Andres accounts for 40% Low D&C Costs Low D&C costs1 2.75 - 3.8 MM per well…
  9. 4Q and Full Year 2021 – Ring Energy Inc. – slide 9
    Northwest Shelf Asset Area Providing Significant Organic Growth 4Q21 Avg Sales Gross / Net Acres1 6,173 Boe/d (81% Oil) 35,810 / 26,655 2021 D&C Completed 4 Phase I wells (99% WI) 2021 CTRs Completed 3 Phase II wells (74% WI) 19…
  10. 4Q and Full Year 2021 – Ring Energy Inc. – slide 10
    NWS 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)1 100,000 3.0 M BOE (85-90% Oil) 2.5 M…
  11. 4Q and Full Year 2021 – Ring Energy Inc. – slide 11
    Central Basin Platform Asset Area Technical Focus Reinvigorates Legacy Area 4Q21 Avg Sales Gross / Net Acres1 2,574 Boe/d (95% Oil) 29,065 / 20,288 2021 D&C 2021 CTRs Completed 2 Phase III wells (100% WI) 6 Conversions…
  12. 4Q and Full Year 2021 – Ring Energy Inc. – slide 12
    Unlocking Value in CBP Technical Improvements to Completion and Landing Zone CBP HZ Performance Cum BOE vs Time (2021 New Drills vs Historic)2,4 100,000 Annual D&C per HZ Cost Range (1.5 Mile)1 2021 CBP New Drill (1.5 mile) HZ…
  13. 4Q and Full Year 2021 – Ring Energy Inc. – slide 13
    CTRs Significantly Reduce Operating Costs Maintains Solid PDP Reserve Base that Generates Consistent FCF Increases reserves by reducing operating & Cost Savings ESP vs ROD well repair costs and extending well life 250,000 240,000…
  14. 4Q and Full Year 2021 – Ring Energy Inc. – slide 14
    Delaware Basin Asset Turnkey Asset with Predictable Cash Flow and Upside Potential Launched sales process for Delaware Assets in 2021 Truist Securities running a marketed process Asset infrastructure in-place to enable…
  15. 4Q and Full Year 2021 – Ring Energy Inc. – slide 15
    Financials
  16. 4Q and Full Year 2021 – Ring Energy Inc. – slide 16
    Sustainable Value Focused Results Executing Disciplined Strategy Net Sales LOE1 and Cash G&A 12,000 14.0 10,000 86% Oil 12.0 85% Oil 89% Oil 87% Oil 85% Oil 10.0 8,000 8.0 Boe/d MM 6,000 9,307 9,153 6.0 12.2 11.7 4,000…
  17. 4Q and Full Year 2021 – Ring Energy Inc. – slide 17
    Historical Metrics1 Quarterly Analysis of FCF MM Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Disciplined & efficient capital spending Adj EBITDA1 24.5 19.0 20.6 19.7 24.0 Capital -7.8 -14.5 -11.5 -13.7 -11.3 Focused on sustainably…
  18. 4Q and Full Year 2021 – Ring Energy Inc. – slide 18
    Reducing Debt & Increasing Liquidity Disciplined Capital Spending & Sustainably Generating FCF is the Key RBL Balance Liquidity 400.0 70.0 375.0 360.0 60.0 61.6 300.0 313.0 56.2 305.5 300.5 295.0 290.0 50.0 51.4 46.2 40.0 40.6…
  19. 4Q and Full Year 2021 – Ring Energy Inc. – slide 19
    Value Proposition 2022 and Beyond Positioned for Substantial Increase in Revenue and FCF Pivoting to Continuous, High-Return Organic Growth Pursuing Acquisition Opportunities to Increase Scale and Lower Break-Even Costs 20…
  20. 4Q and Full Year 2021 – Ring Energy Inc. – slide 20
    Appendix
  21. 4Q and Full Year 2021 – Ring Energy Inc. – slide 21
    2022 Guidance Grow Production, Generate FCF, Pay Down Debt Sales Volumes Q1 2022 FY 2022 Total (Boe/d) 8,500 8,700 9,000 9,600 CAPEX Allocation Oil (Bo/d) 7,200 7,400 7,800 8,350 6% 12% Capital Spending Q1 2022 FY 2022 Capital…
  22. 4Q and Full Year 2021 – Ring Energy Inc. – slide 22
    Financial Overview 2022 Oil Hedge Summary Summary of Crude Oil Hedges 2,000,000 70.00 1,800,000 66.00 1,600,000 1,476,085 62.00 1,400,000 58.00 Volume (Bbls) Price (/Bbl) 1,200,000 54.00 55.20 1,000,000 50.00 800,000…
  23. 4Q and Full Year 2021 – Ring Energy Inc. – slide 23
    Income Statement and Operational Stats Income Statement Operational Stats (Unaudited) (Unaudited) Three Months Ended Twelve Months Ended December 31, September 30, December 31, December 31, December 31, Three Months Ended Twelve…
  24. 4Q and Full Year 2021 – Ring Energy Inc. – slide 24
    Balance Sheet and Cash Flow Statement Balance Sheet Cash Flow Statement (Unaudited) (Unaudited) September December 31, 30, December December 31, 31, Three Months Ended Twelve Months Ended 2021 2021 2020 2020 December 31, September…
  25. 4Q and Full Year 2021 – Ring Energy Inc. – slide 25
    Non-GAAP Reconciliations Adjusted Net Income Free Cash Flow (Unaudited for All Periods) (Unaudited for All Periods) Three Months Ended Twelve Months Ended Three Months Ended Twelve Months Ended December 31, September 30, December 31,…
  26. 4Q and Full Year 2021 – Ring Energy Inc. – slide 26
    Corporate Strategy Value Focused for Sustainable Success Attract and Retain Highly Qualified People Pursue Operational Excellence with a Sense of Urgency Invest in High-Margin, High RoR Projects Focus on FCF and Strengthen…
  27. 4Q and Full Year 2021 – Ring Energy Inc. – slide 27
    Experienced Management Team Shared Vision with a Track Record of Success Add Add Add Add Add Photo Photo Photo Photo Photo Paul D. McKinney Alexander Dyes Stephen D. Brooks Travis Thomas Hollie Lamb Marinos Baghdati VP of…
  28. 4Q and Full Year 2021 – Ring Energy Inc. – slide 28
    Refreshed Board of Directors Accomplished and Diversified Experience Add Photo Paul D. McKinney Anthony D. Petrelli John A. Crum Richard E. Harris Thomas L. Mitchell Regina Roesener Clayton E. Woodrum Chairman & Chief Lead…
  29. 4Q and Full Year 2021 – Ring Energy Inc. – slide 29
    COMPANY CONTACT Al Petrie (281) 975-2146 apetrieringenergy.com Chris Delange (281) 975-2146 cdelangeringenergy.com ANALYST COVERAGE Alliance Global Partners (A.G.P.) Jeff Campbell (203) 577-5427 jcampbellallianceg.com Tuohy…

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