Quarterly ResultMay 6, 2026, 05:17 PM
Ring Energy Q1 Net Loss $(220.6)M; $162.1M Impairment
AI Summary
Ring Energy, Inc. reported a significant net loss of $(220.6) million for the first quarter of 2026, a sharp decline from a net income of $9.1 million in the prior year. This loss was primarily driven by a substantial $162.1 million ceiling test impairment on its oil and natural gas properties. Revenues from oil, natural gas, and natural gas liquids also saw a decrease, contributing to the overall negative financial performance for the quarter.
Key Highlights
- Ring Energy reported a net loss of $(220,591,482) for Q1 2026, compared to net income of $9,110,738 in Q1 2025.
- A ceiling test impairment of $162,086,257 was recorded in Q1 2026.
- Oil, Natural Gas, and Natural Gas Liquids Revenues were $73,671,664 in Q1 2026, down from $79,091,207 in Q1 2025.
- Basic loss per share was $(1.06) in Q1 2026, compared to basic earnings per share of $0.05 in Q1 2025.
- Total assets decreased to $1,254,715,354 as of March 31, 2026, from $1,411,899,249 as of December 31, 2025.
- The revolving line of credit increased to $426,000,000 as of March 31, 2026, from $420,000,000.
- Net cash provided by operating activities was $25,894,701 in Q1 2026, a decrease from $28,371,008 in Q1 2025.
- Total stockholders' equity decreased to $621,977,948 as of March 31, 2026, from $842,005,242.
Price Impact
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