Ring Energy - Independent Oil & Gas Company Focused on Conventional Permian Assets in Texas Pro Forma PF Net Production1 21,500 Boe/d Yoakum (66% oil and 84% liquids) 2024 SEC Proved Reserves2,3 Differentiated approach by 134…
Flexible and Resilient in 2025 Value Proven Strategy Designed to Endure Volatile Oil Prices Since 2021 our production has increased 23% CAGR from accretive acquisitions & organic development Adding Size and Scale to the Successfully…
Q1 2025 Scorecard Closed LRR AQ at end of Q1 LRR did not affect production, EBITDA, Capex or FCF Oil Lease Adjusted Sales Realized Adjusted Debt Leverage SEC 1P Sales CapEx Operating Free Cash Boe /Boe EBITDA1 Balance Ratio3…
LRR Acquisition Expands Legacy High-Return Area Continuing Our Transformation to a Scaled Conventional Permian Operator Legend Ring Energy Leasehold Transaction Summary (MM) Asset Overview Lime Rock Resources Bolt-on acquisition of…
Proved Reserves1 and Inventory Reserves by Category (%) Reserves by PV-102 (MM) Reserves by Product (%) Locations by Area 19% NWS SEC YE 2024, excl. LRR 23% 21% 31% CBP-N REI Legacy 134 1,463 134 Penwell MMBoe MM MMBoe…
Updated Pro Forma Guidance 3 Full Quarters of Lime Rock Asset1 Operations Q1 2025 Q1 2025 % Q2 2025 2H 2025 FY 2025 CAPEX Allocation Sales Volumes REI Only Actuals Difference PF UPDATE PF UPDATE D&C / Infrastructure / CTR Recompl /…
Focused on Maximizing FCF in 2025 & Beyond Outlook High Margin, Low Decline, High Netback Assets Drive Success Through Volatile Oil Prices Pursue Operational Excellence & Maximizing 2025E AFCF1,2 Building Scale Total Sales Q2-Q4 PF…
Distinguishing Attributes: What Makes Ring Different Differentiated Approach by Applying Unconventional Technology and Thinking to Conventional Permian Assets Ring Conventional Assets Characteristics: Shallow Base Decline, High…
Distinguishing Attributes: High Operating Margins Rings Conventional Assets with High Netbacks Drive Strong Cash Operating Margins vs. Peers1,2 4Q 2024 TTM Cash Operating Margin and Realized Pricing (/Boe) Operational Excellence and…
Enhanced Value for Stockholders Improved Metrics - Increased Production, Reduction in Costs, and Increased Proved Reserves on per Share Basis Production/Share Boe/Share All-in-Cash Operating Costs1 /Boe SEC 1P Reserves/Share2…
Consistent Value for Stockholders Minimized the Effect of a 7% Reduction in Realized Prices ACFFO1 MM Adjusted EBITDA1 MM Adjusted Free Cash Flow1 MM 250 275 55 225 250 50 236 233 45 200 197 195 225 45 44 175 200 40 150 175…
Track Record of Strategic Consolidation Four Acquisitions Since 2019 Increases Net Production by 3.0x Legend Acquisition Track Record Ring Energy Legacy 20,000 Lime Rock Resources Rings pursuit of accretive, balance Founders Oil &…
Permian Basin Conventional Opportunities Focused on Consolidating Conventional Assets in the Central Basin Platform & Northwest Shelf Publics NWS Acquire accretive, balance sheet enhancing CBP & NWS assets Privates CBP/NWS Publics…
Ring Trading at Discount Compared to Recent Transaction REI Suggested Valuation Using APA CBP & NWS Assets Divestiture Valuation Metrics Private Buyers Paying Higher Valuation Multiples for Conventional Permian Assets APA Permian…
Robust Value Proposition Through Commodity Price Cycles 2025 and Beyond Remaining focused on maximizing FCF generation to strengthen the balance sheet Strong Cash Operating margins help deliver superior results & helps manage risk…
Competitive Value for Stockholders Track Record of 3 Consecutive Years of Corporate Returns Above 15% Despite Drop in Commodity Prices Cash Return on Capital Employed1 Avg WTI /Bbl & Avg Realized /Boe (CROCE) % Strong CROCE % 25.0%…
ASSET OVERVIEW www.ringenergy.com
Committed to Sustainable Success 2024 Sustainability Report Progressing our ESG Journey A Target Zero Day is a Day that Results in: Download Report PDF Created ESG Task Force and established Target Zero 365 (TZ-365) Safety &…
Assets Overview Deep Inventory of High-Return Drilling and Re-Completion Locations Select Recent New Drill Horizontal Well Results Northwest Shelf Select Recent New Drill Vertical Well Results Peak IP Lateral Geological Central…
Assets Overview New Drill Inventory Performance Consistent HZ Well Performance Enhanced Vertical Well Performance San Andres Horizontal Play EUR (MBoe) per 1000 Lateral Feet CBP Vertical Multi-Stacked Play 2 100 20,000 Thousands…
Impact of Founders Acquisition Performance Exceeded Initial Expectations REI Pro Forma Post Closing Performance Founders Acquisition 75MM REI Net Prod. (MBoe/d) 1 REI Net Debt MM 100 21.0 450 Cash Due Close 16% growth to PF Net…
San Andres Horizontal Play Characteristics 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…
Vertical Multi-Stacked Pay Characteristics Proven, Conventional, Top Tier Returns CBP Vt Stack & Frac Delaware Hz Midland Hz High ROR Oil Play Central Basin Platform has produced 15 BBboe Low D&C Costs Vertical multi-stage fracs…
THANK YOU Ring Headquarters 1725 Hughes Landing Blvd Ste 900 The Woodlands, TX 77830 Phone: 281-397-3699 Company Contact Analyst Coverage Al Petrie ROTH Capital Partners Tuohy Bothers Investment (281) 975-2146 John M. White…
APPENDIX www.ringenergy.com
REI Historical Price Performance1 Price Performance Since January 1, 2022 5.5 6.5 MM warrants 140.00 exercised 5.0 Stronghold Announcement 120.00 4.5 3.0 MM warrants exercised 4.0 4.5 MM warrants 100.00 Founders exercised…
Financial Overview Derivative Summary as of March 31, 2025 (1) The oil basis swap hedges are calculated as the fixed price (weighted average spread price above) less the (2) The gas basis swap hedges are calculated as the Henry Hub…
Income Statement and Operational Stats Income Statement Operational Stats (Unaudited) (Unaudited) Three Months Ended Three Months Ended March 31, December 31, March 31, March 31, December 31, March 31, 2025 2024 2024 2025 2024…
(Unaudited) Balance Sheet March 31, 2025 December 31, 2024 Statements of Cash Flows (Unaudited) Three Months Ended ASSETS March 31, December 31, March 31, Current Assets 2025 2024 2024 Cash and cash equivalents 1,100,851 1,866,395…
Non-GAAP Reconciliations Adjusted Net Income Adjusted EBITDA (Unaudited for All Periods) (Unaudited for All Periods) Three Months Ended Three Months Ended March 31, December 31, March 31, March 31, December 31, March 31, 2025…
Non-GAAP Reconciliations (cont.) Adjusted Free Cash Flow (Unaudited for All Periods) Three Months Ended March 31, December 31, March 31, 2025 2024 2024 Net Cash Provided by Operating Activities 28,371,008 47,279,681 45,189,169…
Non-GAAP Reconciliations (cont.) Leverage Ratio (Current Period End) Leverage Ratio (Comparative Period End) (Unaudited) (Unaudited) Three Months Ended Three Months Ended Last Four Last Four June 30, September 30, December 31, March…
Non-GAAP Reconciliations (cont.) Adjusted Cash Flow from Operations (ACFFO) Cash Return on Capital Employed (CROCE) As of and for the twelve months ended (Unaudited for All Periods) December 31, December 31, December 31, Three Months…
Non-GAAP Reconciliations (cont.) All-In Cash Operating Costs (Unaudited for All Periods) Three Months Ended March 31, December 31, March 31, 2025 2024 2024 All-In Cash Operating Costs: Lease operating expenses (including workovers)…
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