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Business Upturn
24-04-2025
- Business
- Business Upturn
Ring Energy Updates Second Quarter 2025 Guidance
THE WOODLANDS, Texas, April 24, 2025 (GLOBE NEWSWIRE) — Ring Energy, Inc. (NYSE American: REI) ('Ring' or the 'Company') today provided updated guidance for the second quarter of 2025, which included reaffirming its previous outlook for oil and total sales volumes despite a significant reduction in the Company's capital spending guidance, which was lowered in response to the recent decline in oil prices. KEY Q2 UPDATED GUIDANCE HIGHLIGHTS Reduced capital spending guidance range with a midpoint decrease of over 50% to $18 million; Reaffirmed guidance range for both oil and total sales volumes with midpoints of 14,200 barrels of oil per day ('Bo/d') and 21,500 barrels of oil equivalent per day ('Boe/d') respectively and; Reaffirmed Lease Operating Expense ('LOE') range with a midpoint of $12.00 per Boe. Mr. Paul D. McKinney, Chairman of the Board and Chief Executive Officer, commented, 'In the past we have discussed the benefits of our value-focused proven strategy designed to maximize cash flow generation and effectively navigate the volatility of commodity prices to strengthen the balance sheet. The better-than-expected performance of our first quarter drilling program, underlying PDP assets, and recently acquired Lime Rock assets provided us the opportunity to quickly respond to lower oil prices by reducing our second quarter capital spending by more than 50% while maintaining our sales volumes guidance. Although our breakeven costs are well below the current price of oil, we believe emphasizing debt reduction during this time better positions the Company to manage the potential risks of an extended period of low oil prices. We also believe this change is warranted considering the uncertainty of future oil prices and is in the best interests of our stockholders. Regarding the rest of the year, we intend to provide updated guidance when we report our first quarter results in early May.' Q2 UPDATED GUIDANCE TABLE Sales Volumes Total (Bo/d) 13,700 – 14,700 Mid Point (Bo/d) 14,200 Total (Boe/d) 20,500 – 22,500 Mid Point (Boe/d) 21,500 – Oil (%) 66% – NGLs (%) 18% – Gas (%) 16% Capital Program Capital Spending1 (millions) $14 – $22 Mid Point (millions) $18 Operating Expenses LOE (per Boe) $11.50 – $12.50 Mid Point (per Boe) $12.00 (1) In addition to Company-directed drilling and completion activities, the capital spending outlook includes funds for targeted well recompletions, capital workovers, infrastructure upgrades, well reactivations and leasing acreage. Also included is anticipated spending for non-operated drilling, completions, capital workovers, and facility improvements. ABOUT RING ENERGY, INC. Ring Energy, Inc. is an oil and gas exploration, development, and production company with current operations focused on the development of its Permian Basin assets. For additional information, please visit SAFE HARBOR STATEMENT This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements involve a wide variety of risks and uncertainties, and include, without limitation, statements with respect to the Company's strategy and prospects, including: expected second quarter 2025 sales volumes and capital spending levels; the potential impact of and the Company's efforts to manage commodity price volatility through targeted contracting, hedging and other Company-directed strategies; and, the expected benefits afforded by the recent completion of the recent Lime Rock acquisition. The forward-looking statements include the Company's ability to keep operating costs low while maintaining production targets and generally to execute its proven strategy designed to further position the Company for long-term success. Forward-looking statements are based on current expectations and subject to numerous assumptions and analyses made by Ring and its management considering their experience and perception of historical trends, current conditions and expected future developments, as well as other factors appropriate under the circumstances. However, whether actual results and developments will conform to expectations is subject to a number of material risks and uncertainties. Such statements are subject to certain risks and uncertainties which are disclosed in the Company's reports filed with the Securities and Exchange Commission ('SEC'), including its Form 10-K for the fiscal year ended December 31, 2024, and its other SEC filings. Ring undertakes no obligation to revise or update publicly any forward-looking statements, except as required by law. CONTACT INFORMATION Al Petrie Advisors Al Petrie, Senior Partner Phone: 281-975-2146 Email: [email protected]
Yahoo
18-04-2025
- Business
- Yahoo
Ring Energy Provides Operational Update - Amended to Correct Wells Drilled in First Quarter 2025
THE WOODLANDS, Texas, April 18, 2025 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) ('Ring' or the 'Company') today provided an operational update, including first quarter 2025 oil sales volumes above the high end of the Company's guidance range and total sales volumes above the midpoint of guidance. The Company also announced the timing of Ring's quarterly results conference call. KEY HIGHLIGHTS Produced over 12,000 barrels of oil per day ('Bo/d'), exceeding high end of guidance; Produced over 18,300 barrels of oil equivalent per day ('Boe/d'), exceeding the midpoint of guidance; Oil production outperformance was driven by the success of Ring's drilling program, featuring 7 wells (4 horizontal and 3 vertical wells) coming online, all surpassing the Company's pre-drill estimates; Completed the acquisition of the Central Basin Platform ('CBP') assets of Lime Rock Resources IV, LP ('Lime Rock') on March 31, 2025; Highly accretive transaction provides immediate and meaningful increased cash flow from shallow declining, long life, oil weighted assets; Realized initial operational synergies by reducing LOE over 5%; Production during the first two weeks of Ring's operations exceeded expectations by over 200 Boe/d, averaging over 2,500 Boe/d; and Company has over 6,300 barrels of oil per day hedged with weighted average downside protection of $64.44 per barrel for the remainder of the year, as of April 1, 2025. Mr. Paul D. McKinney, Chairman of the Board and Chief Executive Officer, commented, 'The first quarter has set a strong foundation for 2025, and we look forward to sharing our full results in early May. Despite some initial weather-related downtime, we are pleased to report that oil sales volumes surpassed our highest projections, thanks to the outstanding performance of the wells drilled this quarter. Every well not only met but exceeded our pre-drill expectations, showcasing our operational excellence. Additionally, we successfully completed our Lime Rock asset acquisition before the quarter's end, and we are actively integrating these new properties into our portfolio—yielding an impressive 200 Boe/d increase over earlier estimates during the first two weeks of operations. We are confident that these achievements will propel us toward continued success in the upcoming months.' Mr. McKinney concluded, 'Our value-focused and proven strategy is designed to effectively navigate both high and low commodity price cycles, emphasizing the generation of free cash flow, maintaining a disciplined capital spending program, and prioritizing debt reduction. The flexibility in our contracting terms with drilling rigs and oil field service providers empowers us to quickly adapt our capital spending to stay aligned with our objectives. Our steadfast, value-focused strategy ensures we maintain the discipline and agility needed to navigate price volatility, positioning the Company for enduring success.' First Quarter Earnings Conference Call Ring plans to issue its first quarter 2025 earnings release after the close of trading on Wednesday, May 7, 2025. The Company has scheduled a conference call on Thursday, May 8, 2025 at 11:00 a.m. central standard time to discuss its first quarter 2025 operational and financial results. To participate, interested parties should dial 833-953-2433 at least five minutes before the call is to begin. Please reference the 'Ring Energy First Quarter 2025 Earnings Conference Call'. International callers may participate by dialing 412-317-5762. The call will also be webcast and available on Ring's website at under 'Investors' on the 'News & Events' page. An audio replay will also be available on the Company's website following the call. ABOUT RING ENERGY, INC. Ring Energy, Inc. is an oil and gas exploration, development, and production company with current operations focused on the development of its Permian Basin assets. For additional information, please visit SAFE HARBOR STATEMENT This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements involve a wide variety of risks and uncertainties, and include, without limitation, statements with respect to the Company's strategy and prospects, including: expected first quarter 2025 sales volumes and capital projects activity levels; the potential impact of and the Company's efforts to manage commodity price volatility through targeted contracting, hedging and other Company-directed strategies; and, the expected benefits and related timing afforded by the recent completion for the Lime Rock acquisition – all of which are designed to further position the Company for long-term success. The forward-looking statements include the Company's ability to execute its proven strategy designed to further position the Company for long-term success. Forward-looking statements are based on current expectations and subject to numerous assumptions and analyses made by Ring and its management considering their experience and perception of historical trends, current conditions and expected future developments, as well as other factors appropriate under the circumstances. However, whether actual results and developments will conform to expectations is subject to a number of material risks and uncertainties. Such statements are subject to certain risks and uncertainties which are disclosed in the Company's reports filed with the Securities and Exchange Commission ('SEC'), including its Form 10-K for the fiscal year ended December 31, 2024, and its other SEC filings. Ring undertakes no obligation to revise or update publicly any forward-looking statements, except as required by law. CONTACT INFORMATION Al Petrie AdvisorsAl Petrie, Senior PartnerPhone: 281-975-2146Email: apetrie@ in to access your portfolio
Globe and Mail
18-04-2025
- Business
- Globe and Mail
Ring Energy Provides Operational Update - Amended to Correct Wells Drilled in First Quarter 2025
~ Announces Timing of First Quarter Earnings Conference Call ~ THE WOODLANDS, Texas, April 18, 2025 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) ('Ring' or the 'Company') today provided an operational update, including first quarter 2025 oil sales volumes above the high end of the Company's guidance range and total sales volumes above the midpoint of guidance. The Company also announced the timing of Ring's quarterly results conference call. KEY HIGHLIGHTS Produced over 12,000 barrels of oil per day ('Bo/d'), exceeding high end of guidance; Produced over 18,300 barrels of oil equivalent per day ('Boe/d'), exceeding the midpoint of guidance; Oil production outperformance was driven by the success of Ring's drilling program, featuring 7 wells (4 horizontal and 3 vertical wells) coming online, all surpassing the Company's pre-drill estimates; Completed the acquisition of the Central Basin Platform ('CBP') assets of Lime Rock Resources IV, LP ('Lime Rock') on March 31, 2025; Highly accretive transaction provides immediate and meaningful increased cash flow from shallow declining, long life, oil weighted assets; Realized initial operational synergies by reducing LOE over 5%; Production during the first two weeks of Ring's operations exceeded expectations by over 200 Boe/d, averaging over 2,500 Boe/d; and Company has over 6,300 barrels of oil per day hedged with weighted average downside protection of $64.44 per barrel for the remainder of the year, as of April 1, 2025. Mr. Paul D. McKinney, Chairman of the Board and Chief Executive Officer, commented, 'The first quarter has set a strong foundation for 2025, and we look forward to sharing our full results in early May. Despite some initial weather-related downtime, we are pleased to report that oil sales volumes surpassed our highest projections, thanks to the outstanding performance of the wells drilled this quarter. Every well not only met but exceeded our pre-drill expectations, showcasing our operational excellence. Additionally, we successfully completed our Lime Rock asset acquisition before the quarter's end, and we are actively integrating these new properties into our portfolio—yielding an impressive 200 Boe/d increase over earlier estimates during the first two weeks of operations. We are confident that these achievements will propel us toward continued success in the upcoming months.' Mr. McKinney concluded, 'Our value-focused and proven strategy is designed to effectively navigate both high and low commodity price cycles, emphasizing the generation of free cash flow, maintaining a disciplined capital spending program, and prioritizing debt reduction. The flexibility in our contracting terms with drilling rigs and oil field service providers empowers us to quickly adapt our capital spending to stay aligned with our objectives. Our steadfast, value-focused strategy ensures we maintain the discipline and agility needed to navigate price volatility, positioning the Company for enduring success.' First Quarter Earnings Conference Call Ring plans to issue its first quarter 2025 earnings release after the close of trading on Wednesday, May 7, 2025. The Company has scheduled a conference call on Thursday, May 8, 2025 at 11:00 a.m. central standard time to discuss its first quarter 2025 operational and financial results. To participate, interested parties should dial 833-953-2433 at least five minutes before the call is to begin. Please reference the 'Ring Energy First Quarter 2025 Earnings Conference Call'. International callers may participate by dialing 412-317-5762. The call will also be webcast and available on Ring's website at under 'Investors' on the 'News & Events' page. An audio replay will also be available on the Company's website following the call. ABOUT RING ENERGY, INC. Ring Energy, Inc. is an oil and gas exploration, development, and production company with current operations focused on the development of its Permian Basin assets. For additional information, please visit SAFE HARBOR STATEMENT This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements involve a wide variety of risks and uncertainties, and include, without limitation, statements with respect to the Company's strategy and prospects, including: expected first quarter 2025 sales volumes and capital projects activity levels; the potential impact of and the Company's efforts to manage commodity price volatility through targeted contracting, hedging and other Company-directed strategies; and, the expected benefits and related timing afforded by the recent completion for the Lime Rock acquisition – all of which are designed to further position the Company for long-term success. The forward-looking statements include the Company's ability to execute its proven strategy designed to further position the Company for long-term success. Forward-looking statements are based on current expectations and subject to numerous assumptions and analyses made by Ring and its management considering their experience and perception of historical trends, current conditions and expected future developments, as well as other factors appropriate under the circumstances. However, whether actual results and developments will conform to expectations is subject to a number of material risks and uncertainties. Such statements are subject to certain risks and uncertainties which are disclosed in the Company's reports filed with the Securities and Exchange Commission ('SEC'), including its Form 10-K for the fiscal year ended December 31, 2024, and its other SEC filings. Ring undertakes no obligation to revise or update publicly any forward-looking statements, except as required by law.
Yahoo
17-04-2025
- Business
- Yahoo
Ring Energy Provides Operational Update
THE WOODLANDS, Texas, April 17, 2025 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE American: REI) ('Ring' or the 'Company') today provided an operational update, including first quarter 2025 oil sales volumes above the high end of the Company's guidance range and total sales volumes above the midpoint of guidance. The Company also announced the timing of Ring's quarterly results conference call. KEY HIGHLIGHTS Produced over 12,000 barrels of oil per day ('Bo/d'), exceeding high end of guidance; Produced over 18,300 barrels of oil equivalent per day ('Boe/d'), exceeding the midpoint of guidance; Oil production outperformance was driven by the success of Ring's drilling program, featuring 7 horizontal and 3 vertical wells coming online, all surpassing the Company's pre-drill estimates; Completed the acquisition of the Central Basin Platform ('CBP') assets of Lime Rock Resources IV, LP ('Lime Rock') on March 31, 2025; Highly accretive transaction provides immediate and meaningful increased cash flow from shallow declining, long life, oil weighted assets; Realized initial operational synergies by reducing LOE over 5%; Production during the first two weeks of Ring's operations exceeded expectations by over 200 Boe/d, averaging over 2,500 Boe/d; and Company has over 6,300 barrels of oil per day hedged with weighted average downside protection of $64.44 per barrel for the remainder of the year, as of April 1, 2025. Mr. Paul D. McKinney, Chairman of the Board and Chief Executive Officer, commented, 'The first quarter has set a strong foundation for 2025, and we look forward to sharing our full results in early May. Despite some initial weather-related downtime, we are pleased to report that oil sales volumes surpassed our highest projections, thanks to the outstanding performance of the wells drilled this quarter. Every well not only met but exceeded our pre-drill expectations, showcasing our operational excellence. Additionally, we successfully completed our Lime Rock asset acquisition before the quarter's end, and we are actively integrating these new properties into our portfolio—yielding an impressive 200 Boe/d increase over earlier estimates during the first two weeks of operations. We are confident that these achievements will propel us toward continued success in the upcoming months.' Mr. McKinney concluded, 'Our value-focused and proven strategy is designed to effectively navigate both high and low commodity price cycles, emphasizing the generation of free cash flow, maintaining a disciplined capital spending program, and prioritizing debt reduction. The flexibility in our contracting terms with drilling rigs and oil field service providers empowers us to quickly adapt our capital spending to stay aligned with our objectives. Our steadfast, value-focused strategy ensures we maintain the discipline and agility needed to navigate price volatility, positioning the Company for enduring success.' First Quarter Earnings Conference Call Ring plans to issue its first quarter 2025 earnings release after the close of trading on Wednesday, May 7, 2025. The Company has scheduled a conference call on Thursday, May 8, 2025 at 11:00 a.m. central standard time to discuss its first quarter 2025 operational and financial results. To participate, interested parties should dial 833-953-2433 at least five minutes before the call is to begin. Please reference the 'Ring Energy First Quarter 2025 Earnings Conference Call'. International callers may participate by dialing 412-317-5762. The call will also be webcast and available on Ring's website at under 'Investors' on the 'News & Events' page. An audio replay will also be available on the Company's website following the call. ABOUT RING ENERGY, INC. Ring Energy, Inc. is an oil and gas exploration, development, and production company with current operations focused on the development of its Permian Basin assets. For additional information, please visit SAFE HARBOR STATEMENT This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements involve a wide variety of risks and uncertainties, and include, without limitation, statements with respect to the Company's strategy and prospects, including: expected first quarter 2025 sales volumes and capital projects activity levels; the potential impact of and the Company's efforts to manage commodity price volatility through targeted contracting, hedging and other Company-directed strategies; and, the expected benefits and related timing afforded by the recent completion for the Lime Rock acquisition – all of which are designed to further position the Company for long-term success. The forward-looking statements include the Company's ability to execute its proven strategy designed to further position the Company for long-term success. Forward-looking statements are based on current expectations and subject to numerous assumptions and analyses made by Ring and its management considering their experience and perception of historical trends, current conditions and expected future developments, as well as other factors appropriate under the circumstances. However, whether actual results and developments will conform to expectations is subject to a number of material risks and uncertainties. Such statements are subject to certain risks and uncertainties which are disclosed in the Company's reports filed with the Securities and Exchange Commission ('SEC'), including its Form 10-K for the fiscal year ended December 31, 2024, and its other SEC filings. Ring undertakes no obligation to revise or update publicly any forward-looking statements, except as required by law. CONTACT INFORMATION Al Petrie AdvisorsAl Petrie, Senior PartnerPhone: 281-975-2146Email: apetrie@ in to access your portfolio
Yahoo
13-02-2025
- Business
- Yahoo
Cytek Biosciences to Report Fourth Quarter and Full Year 2024 Financial Results on February 27, 2025
FREMONT, Calif., Feb. 13, 2025 (GLOBE NEWSWIRE) -- Cytek Biosciences, Inc. ('Cytek Biosciences' or 'Cytek') (Nasdaq: CTKB), today announced it will report financial results for the fourth quarter and full year 2024 after market close on Thursday, February 27, 2025. The company's management will webcast a corresponding conference call beginning at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time to discuss its results, business developments and outlook. Live audio of the webcast will be available on the 'Investors' section of the company website at About Cytek BiosciencesCytek Biosciences (Nasdaq: CTKB) is a leading cell analysis solutions company advancing the next generation of cell analysis tools by delivering high-resolution, high-content and high-sensitivity cell analysis utilizing its patented Full Spectrum Profiling™ (FSP™) technology. Cytek's novel approach harnesses the power of information within the entire spectrum of a fluorescent signal to achieve a higher level of multiplexing with precision and sensitivity. Cytek's platform includes: its core FSP instruments, the Cytek Aurora™ and Northern Lights™ systems and the Cytek Aurora CS cell sorter; the Cytek Orion™ reagent cocktail preparation system; the Enhanced Small Particle™ (ESP™) detection technology; the flow cytometer and imaging products under the Amnis® and Guava® brands; and reagents, software and service to provide a comprehensive and integrated suite of solutions for its customers. Cytek is headquartered in Fremont, California with offices and distribution channels across the globe. More information about the company and its products is available at Cytek's products are for research use only and not for use in diagnostic procedures (other than Cytek's Northern Lights-CLC system and certain reagents, which are available for clinical use in China and the European Union). Cytek, Full Spectrum Profiling, FSP, Cytek Aurora, Northern Lights, Cytek Orion, Enhanced Small Particle, ESP, Amnis and Guava are trademarks of Cytek Biosciences, Inc. In addition to filings with the Securities and Exchange Commission (SEC), press releases, public conference calls and webcasts, Cytek uses its website ( LinkedIn page and X (formerly Twitter) account as channels of distribution of information about its company, products, planned financial and other announcements, attendance at upcoming investor and industry conferences and other matters. Such information may be deemed material information and Cytek may use these channels to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor Cytek's website, LinkedIn page, and X account in addition to following its SEC filings, news releases, public conference calls and webcasts. Media Contact:Stephanie OlsenLages & Associates(949) 453-8080stephanie@ Investor Contact:Paul D. GoodsonHead of Investor Relationspgoodson@ in to access your portfolio
