Ring Energy Reports Q4 Revenue of $66.9M, Down Year-over-Year
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 04 2026
0mins
Should l Buy REI?
Reports Q4 revenue $66.9M vs. $83.4M last year. Sold 13,124 barrels of oil per day, near the mid-point of guidance, and 20,508 Boe/d, which was above the mid-point of guidance. CEO Paul McKinney commented: "Ring Energy delivered strong operational and financial results in 2025, demonstrating the effectiveness of our disciplined, value focused strategy. While the year presented significant challenges across the oil and gas sector, including a roughly 18% year over year decline in realized prices, we responded decisively early in Q1. By adjusting our drilling plans, reducing our capital spending, focusing investment on our highest return opportunities and taking advantage of the production from the Lime Rock acquisition, we protected margins, improved efficiency, and performed well despite a volatile macroeconomic backdrop...These operational improvements drove strong financial results. We generated a record $50M of Adjusted Free Cash Flow, a 15% increase year over year, paid down $40M of debt since closing the Lime Rock acquisition, and paid the $10M deferred cash payment for the Lime Rock acquisition. Importantly, we extended our record to 25 consecutive quarters of positive cash flow generation."
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About REI
Ring Energy, Inc. is an oil and gas exploration, development, and production company. The Company is focused on the development of its Permian Basin assets. Its primary drilling operations target the oil and liquids-rich producing formations in the Northwest Shelf and the Central Basin Platform (CBP), in the Permian Basin in Texas. Its Lime Rock’s CBP operations are located in the Permian Basin and are focused on the development of approximately 17,700 net acres. The Company's leasehold acreage positions total approximately 97,599 gross (80,919 net) acres, and it holds interests in approximately 935 gross (763 net) producing wells. All of its properties are located in the Permian Basin and its proved reserves are oil-weighted, with approximately 60% consisting of oil, 19% consisting of natural gas, and 21% consisting of natural gas liquids. Of those reserves, approximately 69% of the reserves are classified as proved developed and 31% are classified as proved undeveloped.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Borrowing Base Reaffirmation: Ring Energy has reaffirmed its borrowing base under its credit facility, ensuring stable liquidity for future financial operations, which supports ongoing business development and expansion plans.
- Cost Savings Strategy: The company is benefiting from lower third-party costs, which is expected to further enhance profitability and cash flow, strengthening its position in the competitive energy market.
See More
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- Payment Date: The dividend will be payable on April 8 for shareholders of record as of March 31, ensuring consistent returns for investors and bolstering shareholder confidence.
- Ex-Dividend Date: The ex-dividend date is set for March 31, meaning investors must hold shares before this date to qualify for the dividend, which may attract more long-term investors.
- Dividend Growth Potential: RioCan's dividend performance aligns with its historical earnings data, demonstrating the company's ongoing growth potential in the real estate market, which could appeal to income-seeking investors.
See More
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- Earnings Highlights: Ring Energy reported a Q4 non-GAAP EPS of $0.02, with revenue at $66.88 million, reflecting a 19.8% year-over-year decline, indicating resilience and adaptability amid market challenges.
- Debt Reduction Progress: The company has made significant strides in debt reduction in H2 2025, suggesting an improvement in financial health that could bolster investor confidence and mitigate financial risks.
- Cost Advantages: Ring Energy is benefiting from lower third-party costs, which not only enhances profit margins but may also support future profitability, strengthening its position in the competitive energy market.
- Credit Facility Reaffirmation: The company announced the reaffirmation of its borrowing base under its credit facility, providing stable financial support for future capital expenditures and operations, ensuring ongoing business development.
See More
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- Historical Performance Review: Over the past two years, Ring Energy has exceeded EPS estimates 38% of the time and revenue estimates 63% of the time, indicating a degree of stability in the company's financial performance amidst market fluctuations.
- Debt Reduction Progress: The company has made significant strides in reducing debt in the second half of 2025, showcasing its efforts in financial management and capital structure optimization, which could enhance its long-term viability.
- Borrowing Base Reaffirmation: Ring Energy has reaffirmed its borrowing base under its credit facility, indicating a solid liquidity position that supports future operational and investment plans.
See More
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- Bond Issuance Size: RioCan Real Estate Investment Trust has announced the issuance of $200 million in Series AQ senior unsecured debentures, priced at $100 per $100 principal amount, with a coupon rate of 4.308% and a maturity date of March 11, 2033, which is expected to provide stable funding for the company to repay existing debt.
- Clear Use of Proceeds: The net proceeds from this bond issuance will be used to repay existing indebtedness prior to maturity, while any remaining funds will be allocated for general business purposes, which will help optimize the company's capital structure and enhance financial flexibility.
- Credit Rating Upgrade: Morningstar DBRS has confirmed RioCan's issuer rating and senior unsecured debentures credit rating at BBB, changing the trend from Stable to Positive, indicating increased market confidence in RioCan's future financial health, which may help reduce financing costs.
- Private Placement Method: This bond offering will be conducted through a syndicate of agents including TD Securities, Desjardins Capital Markets, and RBC Capital Markets, complying with private placement requirements in each province of Canada, demonstrating RioCan's active presence and financing capability in the capital markets.
See More
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- Executive Appointment: Ring Energy announced that Sundip Johl will join as Chief Financial Officer effective February 27, 2026, bringing over 20 years of oil and gas investment banking and corporate finance experience, which is expected to enhance the company's financial strategy capabilities.
- Industry Background: While at Raymond James as Co-Head of Energy Investment Banking, Johl successfully advised multiple public and private E&P companies, particularly in the Permian Basin, showcasing his deep expertise in capital markets.
- Strategic Value: CEO Paul McKinney stated that Johl's extensive experience will be crucial as the company aims to build size and scale while creating value for shareholders, reflecting the company's confidence in future growth.
- Educational Credentials: Johl holds a Bachelor of Science in Electrical Engineering from San Jose State University and an MBA from the Darden School of Business at the University of Virginia, further enhancing his expertise in finance and capital markets.
See More
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- Executive Appointment: Ring Energy has appointed Sundip Singh Johl as Executive Vice President, Chief Financial Officer, and Treasurer, effective February 27, 2026, with Johl previously serving as Managing Director and Co-Head of Energy Investment Banking at Raymond James, where he was instrumental in shaping financial strategies.
- Debt Reduction Target: The company aims to achieve a $10 million debt reduction target in Q4 2025, leveraging cost optimization strategies to enhance its financial health and bolster future investment capabilities.
- Borrowing Base Reaffirmation: Ring Energy has reaffirmed its borrowing base under its credit facility, ensuring stable liquidity for future financial operations, which supports ongoing business development and expansion plans.
- Cost Savings Strategy: The company is benefiting from lower third-party costs, which is expected to further enhance profitability and cash flow, strengthening its position in the competitive energy market.
See More
