Ring Energy’s Q4 2024 and Full Year Results, 2025 Outlook
Ring Energy, Inc. (REI) recently released its operational and financial results for the fourth quarter and full year 2024, along with its year-end 2024 proved reserves and 2025 operational and financial guidance. Let’s delve into the details:
Financial Highlights
For the full year 2024, Ring Energy reported a net income of $125.3 million, a significant increase from the $51.2 million reported in 2023. The Company’s revenue for the year was $512.6 million, an improvement from $398.9 million in the previous year. The average daily production for 2024 was 10,421 Boe/d, up from 8,752 Boe/d in 2023.
Operational Highlights
During Q4 2024, Ring Energy’s average daily production was 11,056 Boe/d, a 12% increase compared to Q3 2024. The Company drilled 23 new wells, bringing its total number of drilled but uncompleted wells (DUCs) to 55. Ring Energy also completed 26 wells during the quarter, reducing its DUC inventory from 61 to 55.
Reserves
At year-end 2024, Ring Energy reported proved reserves of 67.3 million Boe, a 33% increase from the 2023 year-end proved reserves of 50.1 million Boe. The Company’s proved reserves were 87% oil and NGLs and 13% natural gas.
2025 Guidance
For 2025, Ring Energy anticipates an average daily production of 13,000 Boe/d, a 22% increase from its 2024 average daily production. The Company plans to drill approximately 60 new wells and complete approximately 70 wells during the year.
Impact on Individuals
As an individual investor, Ring Energy’s strong financial performance and operational progress are positive indicators for potential growth in share value. The Company’s focus on increasing production and reducing DUC inventory can lead to increased revenue and potential dividends. However, it’s essential to remember that investing always carries risk, and it’s crucial to conduct thorough research and consider seeking advice from financial advisors before making investment decisions.
Impact on the World
On a larger scale, Ring Energy’s operations contribute to the overall energy sector’s production and the global economy. The Company’s focus on increasing production can help meet the growing demand for energy resources, particularly oil and natural gas. Additionally, the economic benefits of Ring Energy’s operations extend to the local communities in which it operates, providing jobs and revenue for local businesses. However, it’s essential to consider the environmental impact of the energy industry and the role companies like Ring Energy play in reducing their carbon footprint and transitioning to more sustainable energy sources.
Conclusion
Ring Energy’s operational and financial success in 2024 sets a strong foundation for the Company’s future growth. With plans to increase production and reduce DUC inventory in 2025, Ring Energy continues to demonstrate its commitment to maximizing shareholder value. As an individual investor, the positive financial performance and operational progress can be seen as potential growth opportunities. On a larger scale, Ring Energy’s operations contribute to the global energy sector and the economy, while also having an impact on local communities. It’s important to remember the potential risks and consider the environmental implications as the energy industry continues to evolve.
- Ring Energy reported a net income of $125.3 million for full year 2024, a significant increase from $51.2 million in 2023.
- The Company’s revenue for the year was $512.6 million, up from $398.9 million in 2023.
- Average daily production for 2024 was 10,421 Boe/d, up from 8,752 Boe/d in 2023.
- Ring Energy reported proved reserves of 67.3 million Boe at year-end 2024, a 33% increase from the 2023 year-end proved reserves of 50.1 million Boe.
- For 2025, Ring Energy anticipates an average daily production of 13,000 Boe/d and plans to drill approximately 60 new wells and complete approximately 70 wells.
- As an individual investor, Ring Energy’s financial performance and operational progress can be seen as potential growth opportunities.
- Ring Energy’s operations contribute to the global energy sector and the economy, while also having an impact on local communities.
- It’s important to remember the potential risks and consider the environmental implications as the energy industry continues to evolve.
