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3Q22 Earnings Presentation – Ring Energy Inc.

Ring Energy Inc. · Nov 25, 2021 · 28 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. 3Q22 Earnings Presentation – Ring Energy Inc. – slide 1
    Q3 2021 Earnings Presentation FRESH PERSPECTIVE PROVEN STRATEGY www.ringenergy.com NYSE American: REI
  2. 3Q22 Earnings Presentation – 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. 3Q22 Earnings Presentation – Ring Energy Inc. – slide 3
    Q3 2021 Highlights Executing our Strategy Q3 2021 Highlights Delivered net cash provided by operating activities of 17.5 million 14.2 MM 2.6 1 MM Further reduced debt by 5.5 million utilizing a portion of Free Cash Flow Net Income…
  4. 3Q22 Earnings Presentation – Ring Energy Inc. – slide 4
    YTD 2021 Successful Initiatives 1 Provided Value Through Operational Excellence Pursue Cost Sustainably low LOE…
  5. 3Q22 Earnings Presentation – Ring Energy Inc. – slide 5
    Asset Areas
  6. 3Q22 Earnings Presentation – Ring Energy Inc. – slide 6
    San Andres Reservoir Proven, Conventional, Oily 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 costs 2 - 3 MM per well Lower 1st Year…
  7. 3Q22 Earnings Presentation – Ring Energy Inc. – slide 7
    Northwest Shelf Asset Significant Organic Growth Platform 2020 Avg Sales Gross / Net Acres 5,399 Boe/d (85% Oil) 46,972 / 32,915 YTD 2021 D&C Completed 4 Phase I wells (99% WI) YTD 2021 CTRs Completed 3 Phase II wells (74% WI)…
  8. 3Q22 Earnings Presentation – Ring Energy Inc. – slide 8
    Improving Performance & Cost Significant Improvement Driving Top Tier Returns Annual D&C Cost Range (1 Mile)1 NWS Annual Average Cum BOE vs Time (1 Mile)2,3 3.0 M 100,000 BOE (85-90% Oil) 2.5 M 2.0 M 1.5 M 530 Avg 2019…
  9. 3Q22 Earnings Presentation – Ring Energy Inc. – slide 9
    Central Basin Platform Asset Substantial Upside Potential 2020 Avg Sales Gross / Net Acres 2,742 Boe/d (96% Oil) 39,714 / 25,362 YTD 2021 D&C YTD 2021 CTRs Completed 2 Phase III wells (100% WI) 6 Conversions Completing 1…
  10. 3Q22 Earnings Presentation – Ring Energy Inc. – slide 10
    Strategic Focus: CTRs Maintains Solid PDP Reserve Base that Generates Consistent FCF Increasing reserves by extending well longevity and Cost Savings ESP vs ROD reducing operating & well repair costs 225,000 225,000 50% long-term…
  11. 3Q22 Earnings Presentation – Ring Energy Inc. – slide 11
    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…
  12. 3Q22 Earnings Presentation – Ring Energy Inc. – slide 12
    Financials
  13. 3Q22 Earnings Presentation – Ring Energy Inc. – slide 13
    Generating Sustainable Results Supporting Strategic Vision Net Sales LOE 1 and Cash G&A 12,000 14.0 10,000 89% Oil 86% Oil 12.0 89% Oil 87% Oil 85% Oil 10.0 8,000 8.0 Boe/d 6,000 MM 9,549 9,307 6.0 12.2 4,000 8,709…
  14. 3Q22 Earnings Presentation – Ring Energy Inc. – slide 14
    Historical Metrics1 Quarterly Analysis of FCF MM Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Disciplined capital spending Adj EBITDA1 19.9 24.5 19.0 20.6 19.7 Capital -4.3 -7.8 -14.5 -11.5 -13.7 Prioritizing FCF generation Interest…
  15. 3Q22 Earnings Presentation – Ring Energy Inc. – slide 15
    Continued FCF Generation is Key Pays Down Debt and Improves Balance Sheet RBL Balance Liquidity 400.0 60.0 375.0 56.2 360.0 50.0 51.4 300.0 313.0 305.5 300.5 46.2 295.0 40.0 40.6 200.0 30.0 32.2 313 MM outstanding debt with…
  16. 3Q22 Earnings Presentation – Ring Energy Inc. – slide 16
    Committed to ESG Foundational Cornerstone of Our Culture Reducing our environmental Providing a safe work Committed to practicing impact, including GHG environment and corporate sound corporate governance emissions, flaring and…
  17. 3Q22 Earnings Presentation – Ring Energy Inc. – slide 17
    Fresh Prospective Proven Strategy Building a Sustainable Corporate Culture Operate Efficiently and Effectively Highly Profitable Development Drilling Generate FCF and Strengthen Balance Sheet Evaluate Accretive Acquisition…
  18. 3Q22 Earnings Presentation – Ring Energy Inc. – slide 18
    Appendix
  19. 3Q22 Earnings Presentation – Ring Energy Inc. – slide 19
    Q4 2021 Guidance Maintain Production, Generate FCF, Pay Down Debt Sales Volumes Q4 2021 Total (Boe/d) 8,800 9,200 CAPEX Allocation Oil (Bo/d) 7,500 7,900 8% Operating Expenses Q4 2021 (per Boe) 38% Mid Point Lifting Cost1 10.50 -…
  20. 3Q22 Earnings Presentation – Ring Energy Inc. – slide 20
    SEC Proved Reserves 1 Year-End 2020 Net 2020 SEC Pricing Net Oil, Net Gas, Net PV-10, Reserve Category Capex, MBbl MMcf MBOE MM 1P Summary MM Oil/Bbl Gas /Mmbtu 38,261 34,336 43,983 25 438 36.04 1.985 PD PUD 28,004 26,970…
  21. 3Q22 Earnings Presentation – Ring Energy Inc. – slide 21
    Financial Overview Oil Hedges as of 10/1/2021 Summary of Crude Oil Hedges 70.00 1,200,000 1,142,250 66.00 62.00 1,000,000 58.00 Volume (Bbls) 800,000 Price (/Bbl) 54.00 54.25 50.00 600,000 414,000 46.00 276,000…
  22. 3Q22 Earnings Presentation – Ring Energy Inc. – slide 22
    Income Statement and Operational Stats Income Statement Operational Stats (Unaudited) Three Months Ended Nine Months Ended (Unaudited) Three Months Ended Nine Months Ended September 30, June 30, September 30, September 30, September…
  23. 3Q22 Earnings Presentation – Ring Energy Inc. – slide 23
    Balance Sheet and Cash Flow Statement Balance Sheet Cash Flow Statement (Unaudited) (Unaudited) Three Months Ended Nine Months Ended September 30, December 31, September 30, June 30, September 30, September 30, September 30, 2021…
  24. 3Q22 Earnings Presentation – Ring Energy Inc. – slide 24
    Non-GAAP Disclosure Non-GAAP Information Certain financial information included in Rings financial results are not measures of financial performance recognized by accounting principles generally accepted in the United States, or GAAP.…
  25. 3Q22 Earnings Presentation – Ring Energy Inc. – slide 25
    Non-GAAP Reconciliations Adjusted Net Income Free Cash Flow Three Months Ended Nine Months Ended September 30, June 30, September 30, September 30, September 30, Three Months Ended Nine Months Ended 2021 2021 2020 2021 2020…
  26. 3Q22 Earnings Presentation – Ring Energy Inc. – slide 26
    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…
  27. 3Q22 Earnings Presentation – Ring Energy Inc. – slide 27
    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…
  28. 3Q22 Earnings Presentation – Ring Energy Inc. – slide 28
    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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