Ring Energy reported $104.7 million in Q2 revenue as realized pricing surged to $57.55 per BOE and unit costs declined.
Ring Energy posted second-quarter revenue of $104.7 million, driven by a 36% increase in realized pricing to $57.55 per barrel of oil equivalent (BOE) and a 3% sequential rise in sales volumes to 19,990 BOE per day. Lease operating expenses fell to $10.12 per BOE, improving margins.
The company reduced leverage to 1.7 times after using $65 million from an equity offering to repay revolver debt, boosting liquidity to $226 million. Ring targets leverage below 1.25 times and may use asset-sale proceeds for further debt reduction.
Ring Energy raised its second-half 2026 capital spending plan to $80 million–$100 million and expects 2027 sales volumes to grow 10% at the midpoint, despite lowering 2027 capital spending guidance to $135 million–$165 million.