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Q2 2021 Presentation – Ring Energy Inc.

Ring Energy Inc. · Aug 1, 2021 · 27 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. Q2 2021 Presentation – Ring Energy Inc. – slide 1
    FRESH PERSPECTIVE PROVEN STRATEGY www.ringenergy.com NYSE American: REI
  2. Q2 2021 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. Q2 2021 Presentation – Ring Energy Inc. – slide 3
    Corporate Strategy Targeted Initiatives for Long-Term Success Attract and Retain the Best People Pursue Operational Excellence with a Sense of Urgency Invest in High-Margin, High RoR Projects Focus on FCF and Strengthen Balance…
  4. Q2 2021 Presentation – Ring Energy Inc. – slide 4
    Q2/YTD 2021 and Recent Highlights Executing our Strategy Further reduced debt by utilizing a portion of Free Cash Flow Reduced long-term debt by 12.5 million in the first half of 2021 Q2 2021 sales of 8,709 Boe/d with 89% oil an…
  5. Q2 2021 Presentation – Ring Energy Inc. – slide 5
    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…
  6. Q2 2021 Presentation – Ring Energy Inc. – slide 6
    2020 Successful Initiatives 1 Provided Value Through Operational Excellence Pursue Cost Decreased LOE 25% & G&A 31% Reduction Strategies and Operational Reduced Capex to 30 MM Excellence Drilled 8 Successful Wells2 Invest in…
  7. Q2 2021 Presentation – Ring Energy Inc. – slide 7
    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…
  8. Q2 2021 Presentation – Ring Energy Inc. – slide 8
    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)…
  9. Q2 2021 Presentation – Ring Energy Inc. – slide 9
    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…
  10. Q2 2021 Presentation – Ring Energy Inc. – slide 10
    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 No wells drilled 3 Conversions Commenced 2 HZ wells in Phase III…
  11. Q2 2021 Presentation – Ring Energy Inc. – slide 11
    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 200,000 200,000 50% long-term…
  12. Q2 2021 Presentation – Ring Energy Inc. – slide 12
    Delaware Basin Asset Turnkey Asset with Predictable Cash Flow and Upside Potential Launched sales process for Delaware Assets in 2Q 2021 Truist Securities running a marketed process Asset infrastructure in-place to enable…
  13. Q2 2021 Presentation – Ring Energy Inc. – slide 13
    SEC Proved Reserves 1 Year-End 2020 Net 2020 SEC Pricing Net Oil, Net Gas, Net PV-10, Reserve Category Capex, 1P Summary MBbl MMcf MBOE MM MM Oil/Bbl Gas /Mmbtu 38,261 34,336 43,983 25 438 36.04 1.985 PD PUD 28,004 26,970…
  14. Q2 2021 Presentation – Ring Energy Inc. – slide 14
    Generating Sustainable Results 1 Supporting Strategic Vision Net Sales LOE and Cash G&A 12,000 14.0 10,000 89% Oil 86% Oil 12.0 89% Oil 85% Oil 10.0 8,000 Pandemic shut in 8.0 Boe/d MM 6,000 86% Oil 9,549 9,307 6.0 12.5…
  15. Q2 2021 Presentation – Ring Energy Inc. – slide 15
    Historical Metrics1 Quarterly Analysis of FCF MM Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Disciplined capital spending Adj EBITDA1 13.7 19.9 24.5 19.0 20.6 Capital -1.9 -4.3 -7.8 -14.5 -11.5 Prioritizing FCF generation Interest…
  16. Q2 2021 Presentation – Ring Energy Inc. – slide 16
    Continued FCF Generation is Key Pays Down Debt and Improves Balance Sheet RBL Balance Liquidity 400.0 60.0 375.0 360.0 50.0 51.4 300.0 313.0 305.5 300.5 46.2 40.0 40.6 200.0 30.0 32.2 313 MM outstanding debt with 36 MM in…
  17. Q2 2021 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. Q2 2021 Presentation – Ring Energy Inc. – slide 18
    Appendix
  19. Q2 2021 Presentation – Ring Energy Inc. – slide 19
    Second Half 2021 Guidance Maintain Production, Generate FCF, Pay Down Debt Sales Volumes 2nd Half 2021 Total (Boe/d) 8,700 9,200 CAPEX Allocation Oil (Bo/d) 7,700 8,100 4% Operating Expenses 2nd Half 2021 (per Boe) Mid Point…
  20. Q2 2021 Presentation – Ring Energy Inc. – slide 20
    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…
  21. Q2 2021 Presentation – Ring Energy Inc. – slide 21
    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…
  22. Q2 2021 Presentation – Ring Energy Inc. – slide 22
    Financial Overview Oil Hedges as of 8/9/2021 Summary of Crude Oil Hedges 1,200,000 1,142,250 70.00 66.00 1,000,000 62.00 58.00 800,000 54.25 688,500 Volume (Bbls) Price (/Bbl) 54.00 600,000 50.00 459,000 46.00 400,000…
  23. Q2 2021 Presentation – Ring Energy Inc. – slide 23
    Income Statement and Operational Stats Income Statement RING ENERGY, INC. Condensed Statements of Operations (Unaudited) Operational Stats Three Months Ended Six Months Ended Three Months Ended Six Months Ended June 30, March 31,…
  24. Q2 2021 Presentation – Ring Energy Inc. – slide 24
    Balance Sheet and Cash Flow Statement Balance Sheet RING ENERGY, INC. Condenced Balance Sheets Cash Flow Statement RING ENERGY, INC. Condensed Statements of Cash Flows (Unaudited) (Unaudited) June 30, December 31, Three Months…
  25. Q2 2021 Presentation – Ring Energy Inc. – slide 25
    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.…
  26. Q2 2021 Presentation – Ring Energy Inc. – slide 26
    Non-GAAP Reconciliations Adjusted Net Income Free Cash Flow Three Months Ended Six Months Ended June 30, March 31, June 30, June 30, June 30, Three Months Ended Six Months Ended 2021 2021 2020 2021 2020 June 30, March 31, June 30,…
  27. Q2 2021 Presentation – Ring Energy Inc. – slide 27
    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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