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Q3 2023 Earnings Presentation – Ring Energy Inc.

Ring Energy Inc. · Nov 3, 2023 · 30 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. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 1
    VALUE FOCUSED PROVEN STRATEGY Q3 2023 EARNINGS www.ringenergy.com NYSE American: REI
  2. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 2
    Independent Oil & Gas Company Focused on Conventional Permian Assets in Texas Q3 2023 Net Sales 17,509 Boe/d NWS 84% liquids 16% gas Highly oil weighted 69% oil 2022 SEC Proved Reserves1,2 138.1 MMBoe/ PV10 2.77 Billion…
  3. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 3
    Value Focused Proven Strategy Delivering Peer-leading Returns Key Takeaways Adding Size Focused on Value Focused Delivering Maximizing Adjusted Delivering Peer Proven Strategy & Scale Record Results1 Leading Returns Free Cash…
  4. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 4
    Q3 2023 Highlights Proven Strategy Leads to Record Results Adjusted Adjusted BOE Cash Adjusted Leverage CapEx Free Cash Liquidity3 Production Flow From EBITDA1 Ratio2 Operations1 Flow1 2023 Continuing to Q3 2023 Q3 2023 Q3…
  5. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 5
    Compelling Value Proposition Proven Strategy Leads to Shareholder Value 1,2 EV/PV-104 YE22 1P Reserves EV/2023E Adjusted EBITDA4 2023E Adjusted FCF3,4 Yield 5.0x 20% 0.8x 4.5x 0.7x 15% 4.0x 0.6x 3.5x 10% 0.5x 3.0x 2.5x 5% 0.4x…
  6. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 6
    Compelling Value Proposition Heading into 2024 Proven Strategy Leads to Shareholder Value 1,2 EV/2024E Adjusted EBITDA3 2024E Adjusted FCF3 Yield 4.0x 40% 3.5x 35% 3.0x 30% 25% 2.5x 20% 2.0x 15% 1.5x 10% 5% 1.0x 0% 0.5x…
  7. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 7
    Strong Cash Operating Margins vs. Peers1,2 Operational Excellence and Cost Control Drive Profitability 1H 2023 Cash Operating Margin and Realized Pricing Top Quartile Cash Operating Margin 80 High oil weighting of 70% and 84% mix of…
  8. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 8
    Committed to ESG Critical to Sustainable Success 2022 Sustainability Report Progressing our ESG Journey A Target Zero Day is a Day that Results in: Download Report PDF Created ESG Task Force in 2021 to monitor Zero Company or…
  9. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 9
    Value Proposition 2023 and Beyond Trading at a discount Delivering competitive returns Proven strategy delivering superior results Disciplined capital program focused on maintaining production, FCF generation and debt…
  10. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 10
    FINANCIAL OVERVIEW www.ringenergy.com 11
  11. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 11
    2023 Q4 2023 Revised Guidance Grow Production, Generate FCF, Pay Down Debt Sales Volumes Q4 2023 Q4 2023 CAPEX Allocation Total (Boe/d) 18,900 19,500 Mid Point (Boe/d) 19,200 6% - Oil (%) 69% - NGLs (%) 15% - Gas (%) 16% 22%…
  12. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 12
    Historical Metrics Quarterly Analysis of AFCF1 Leverage Ratio (LTM)2 1.41x2 1.56x2 1.65x2 1.64x2 1.69x2 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 70 Adj. EBITDA/ CapEx / Int Exp 60 50 56.0 56.3 58.6 58.6 53.5 40 30 20 10.5…
  13. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 13
    Reducing Debt & Increasing Liquidity Disciplined Capital Spending & Sustainably Generating FCF is the Key Adjusted Debt Paydown1,2 ( Million) Liquidity3 ( Million) 30 220 200 25 204 25 180 188 179 20 160 171 20 165 19 140 15…
  14. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 14
    ASSET OVERVIEW www.ringenergy.com
  15. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 15
    Proved Reserves1 and Inventory SEC YE 2022 (Does not include divestitures or acquisitions done in 2023) Reserves by Category (%) Reserves by PV-102 (MM) Reserves by Product (%) Locations by County 17% 19% 400+3 Total Gross Locations &…
  16. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 16
    Company Overview Core Assets Q3 2023 Net Production (MBoe/d) 17.5 Oil (Bo/d) 69% 12.0 NGLs (Bbls/d) 15% 2.6 Gas (Mcf/d) 16% 17.0 LOE ( per Boe) 11.18 YE22 PD Reserves1 PV10 (MM) 1,907 YE22 PD Reserves1 (MMBoe) 90 YE22 PUD…
  17. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 17
    Ring Energy Expanding Core Areas in NWS & CBP Acquisition Track Record Since 2018, Ring has 19,2004 successfully grown production by a 27% CAGR1 through 4Q 2023 (midpoint of Q4 guidance) Founders Acquisition added accretive…
  18. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 18
    High Quality Inventory Provides Attractive Economic Returns Undeveloped Drilling Locations Inventory of 50+ low risk, high rate-of-return drilling locations lowers Rings break-even costs Central Basin Recent Founders vertical wells…
  19. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 19
    Assets Overview Deep Inventory of High-Return Drilling and Re-Completion Locations Select Recent New Drill Horizontal Well Results Select Recent New Drill Vertical Well Results Northwest Shelf Central Basin Platform Peak IP Lateral…
  20. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 20
    San Andres Reservoir Proven, Conventional, Top Tier Returns San Andres Hz Delaware Hz Midland Hz High ROR Oil Play Permian Basin has produced 30 BBbl Low D&C Costs San Andres accounts for 40% Lower 1st Year Decline Low D&C costs1…
  21. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 21
    APPENDIX www.ringenergy.com
  22. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 22
    Financial Overview Derivative Summary as of September 30, 2023 Oil Hedges (WTI) Gas Hedges (basis differential) Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025…
  23. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 23
    Income Statement and Operational Stats Income Statement Operational Stats Three Months Ended Nine Months Ended (Unaudited) (Unaudited) Three Months Ended Nine Months Ended September 30, June 30, September 30, September 30, September…
  24. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 24
    Balance Sheet and Cash Flow Statement Balance Sheet Cash Flow (Unaudited) (Unaudited) Three Months Ended Nine Months Ended September 30, 2023 December 31, 2022 September 30, June 30, September 30, September 30, September 30, ASSETS…
  25. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 25
    Non-GAAP Reconciliations Adjusted Net Income Adjusted EBITDA (Unaudited for All Periods) (Unaudited for All Periods) Three Months Ended Nine Months Ended September 30, June 30, September 30, September 30, September 30, Three Months…
  26. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 26
    Non-GAAP Reconciliations (cont.) Leverage Ratio Adjusted Free Cash Flow (Unaudited) (Unaudited for All Periods) Three Months Ended Three Months Ended Nine Months Ended December 31, March 31, June 30, September 30, Last Four 2022…
  27. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 27
    Non-GAAP Reconciliations (cont.) Adjusted Cash Flow from Operations (ACFFO) Cash Return on Capital Employed (CROCE) (Unaudited) (Unaudited for All Periods) Year Ended Three Months Ended Nine Months Ended 12/31/2022 12/31/2021…
  28. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 28
    Experienced Management Team Shared Vision with a Track Record of Success Hollie Lamb Paul D. McKinney Stephen D. Brooks Alexander Dyes Travis Thomas Marinos Baghdati VP of NonOP Reservoir Chairman & Chief EVP of Land, Legal, EVP…
  29. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 29
    Board of Directors Accomplished and Diversified Experience 35+ years of domestic & international 43+ years of banking, capital 14+ years of finance & capital markets oil & gas industry experience markets, governance & financial…
  30. Q3 2023 Earnings Presentation – Ring Energy Inc. – slide 30
    THANK YOU Ring Headquarters 1725 Hughes Landing Blvd Ste 900 The Woodlands, TX 77830 Phone: 281-397-3699 Company Contact Analyst Coverage Al Petrie Alliance Global Partners (A.G.P.) Truist Financial Water Tower Research (281)…

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