Loan & DebtJul 2, 2026, 06:46 AM
Ring Energy pays down $66M debt; borrowing base reaffirmed at $585M
AI Summary
Ring Energy, Inc. announced a $66 million debt reduction during Q2 2026, utilizing proceeds from a recent equity offering and cash flow from operations. The company's $1.0 billion senior revolving credit facility's borrowing base was reaffirmed at $585 million following its semi-annual redetermination. These actions increased liquidity by approximately 41% to $226.1 million at June 30, 2026, from $160 million at March 31, 2026.
Key Highlights
- Reduced outstanding borrowings by $66 million during the second quarter of 2026.
- Total debt outstanding under the Credit Facility is $360 million at June 30, 2026.
- Borrowing base reaffirmed at $585 million.
- Liquidity increased approximately 41% to $226.1 million at June 30, 2026.
- Credit Facility amended to eliminate the 10-basis point SOFR credit spread adjustment.
Price Impact
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