Ring Energy Reports Q3 2026 Results with Increased EBITDA and Production Growth
Ring Energy (REI) reported third-quarter 2026 results characterized by operational growth despite a decline in realized oil prices. Total sales volumes rose to 20,600 barrels of oil equivalent per day, a 3% sequential increase driven by the company's horizontal development program. While revenue dipped 2% to $102.3 million due to lower crude pricing, Adjusted EBITDA grew 5% to $57.1 million, supported by improved cost discipline and better natural gas realizations. The company is prioritizing long-term growth through capital intensive lateral drilling, which resulted in negative free cash flow for the quarter. To fund this expansion and maintain liquidity, Ring Energy executed $30.5 million in noncore asset sales, using proceeds to reduce debt by $10 million. Looking ahead, the company issued 2027 production guidance targeting 10% annual growth and has hedged 59% of its first-half 2027 oil volumes to ensure cash flow stability.
Tickers: $REI
Topics: adjusted EBITDA asset sales debt reduction oil production revenue