Ring Energy, Inc. (AMEX: REI) was founded in 2004, formerly known as Transglobal Mining Corp., changed to its current name in March 2008, headquartered in Midland, Texas, USA, with 42 full-time employees, is an oil and gas company An exploration and production company that acquires, explores, develops and produces oil and natural gas in Texas, USA.
Ring Energy, Inc. (REI):
REI is an oil and gas exploration and development company headquartered in Midland, Texas. It has two core areas in the Permian Basin: the Central Basin Platform and the Delaware Basin. Basin).
REI’s management team has extensive experience in the research, drilling and production of the San Andres formation in the past 30 years. So far, it has drilled approximately 1,400 vertical wells and more than 100 horizontal wells on the Central Basin platform. With this knowledge base and experience, REI is currently drilling in San Andres laterally to improve efficiency and productivity, and even in the case of low crude oil prices, it can also increase shareholder returns and profitability.
As of December 31, 2018, Huan Energy’s proven reserves were approximately 36.6 million barrels of oil equivalent.
As of the aforementioned date, Ring Energy’s net development area in Andrews and Gaines counties was 17,408 acres and net undeveloped area was 58,620 acres; in Culberson and Reeves counties, the net development area was 19,138 acres and the net undeveloped area was 860 acres.
Ring Energy sells its oil and gas products primarily to end users, marketers and other buyers.