Oil and gas company stocks have taken a beating as oil prices have tumbled from a peak of over $100 in 2014 to around $50 a barrel today. This fall in prices crippled many exploration and production companies. Down from its peak of nearly $20 per share in 2014, Ring Energy, Inc. (NYSE MKT: REI) is still in a better position than most. Unlike other drillers, Ring Energy isn’t highly leveraged and has comparatively low production costs.
Ring Energy has stated that it could operate profitably under $60 per barrel, and the majority of the company’s crude production is based in the Permian Basin, which has fewer bottlenecks than the Bakken Formation. In its January 9, 2017, press release, the company reported “net production for the fourth quarter of 2016 was approximately 240,000 BOEs (Barrel of Oil Equivalent), as compared to net production of 218,500 BOEs for the same quarter in 2015, an approximate 10% increase, and net production of 209,000 for the third quarter of 2016, an approximate…
NetworkNewsWire (NNW) provides news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer