Quarterly ResultAug 6, 2026, 04:49 PM
Ring Energy Q2 Net Income $64.8M, Adj EBITDA +42%; Raises 2026 Guidance
AI Summary
Ring Energy, Inc. reported strong financial and operating results for the second quarter ended June 30, 2026, with net income reaching $64.8 million and Adjusted EBITDA increasing 42% to $54.5 million. The company significantly strengthened its balance sheet by reducing borrowings by $66 million, boosting liquidity to $226.1 million. Operational highlights included production within guidance and reduced lease operating expenses. Ring also provided an updated 2026 guidance with higher oil production targets and lower operating costs, alongside initial 2027 guidance projecting 10% production growth and reduced capital expenditures.
Key Highlights
- Net income for Q2 2026 was $64.8 million, a significant increase from a net loss of $(220.6) million in Q1 2026.
- Adjusted EBITDA increased 42% to $54.5 million in Q2 2026, up from $38.3 million in Q1 2026.
- Reduced borrowings under the revolving credit facility by $66 million, increasing liquidity to $226.1 million at June 30, 2026.
- Produced 12,683 barrels of oil per day and 19,990 barrels of oil equivalent per day in Q2 2026.
- Lease operating expense was $10.12 per Boe, near the low end of guidance and below Q1 levels.
- Updated 2H 2026 oil production guidance to 13,000-13,950 Bopd, with the midpoint approximately 2% above prior guidance.
- Initial 2027 guidance targets approximately 10% production growth and 10% lower capital expenditures compared to full-year 2026.
- Invested approximately $43.2 million in capital expenditures during Q2 2026.
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