Overview

* Ring Energy ( REI ) Q2 adjusted EBITDA beats analyst expectations, per LSEG data

* Adjusted Net Income for Q2 exceeds analyst estimates, per LSEG data

* Company reduced capex by 48% over the previous quarter and paid down $12 mln of debt

Outlook

* Ring Energy ( REI ) sees Q3 total oil sales volume at 12,850-13,850 Bo/d

* Company expects 2H 2025 total oil sales volume at 12,500-14,000 Bo/d

* Ring Energy ( REI ) projects 2H 2025 Capital spending at $38-$58 mln

* Company forecasts 2H 2025 LOE at $11.00-$12.00 per Boe

Result Drivers

* RECORD OIL SALES - Ring Energy ( REI ) sold a record 14,511 barrels of oil per day, driven by the performance of existing and newly acquired Lime Rock assets

* COST REDUCTION - Lease operating expenses were reduced to $10.45 per Boe, 9%, due to proactive cost-cutting efforts

* CAPITAL SPENDING CUTS - Capital expenditures were reduced by 48% from the previous qtr, contributing to a record $24.8 mln in adjusted free cash flow

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $11 mln $7.70

Adjusted mln (1

Net Analyst)

Income

Q2 Net $20.60

Income mln

Q2 Beat $51.50 $46.90

Adjusted mln mln (3

EBITDA Analysts

)

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

* Wall Street's median 12-month price target for Ring Energy Inc ( REI ) is $2.99, about 75.4% above its August 6 closing price of $0.74

* The stock recently traded at 3 times the next 12-month earnings vs. a P/E of 3 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)