{"id":766179,"date":"2023-06-27T06:48:15","date_gmt":"2023-06-27T10:48:15","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/ring-energy-announces-successful-results-of-senior-credit-facility-spring-2023-redetermination\/"},"modified":"2023-06-27T06:48:15","modified_gmt":"2023-06-27T10:48:15","slug":"ring-energy-announces-successful-results-of-senior-credit-facility-spring-2023-redetermination","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ring-energy-announces-successful-results-of-senior-credit-facility-spring-2023-redetermination\/","title":{"rendered":"Ring Energy Announces Successful Results of Senior Credit Facility Spring 2023 Redetermination"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">THE WOODLANDS, Texas, June  27, 2023  (GLOBE NEWSWIRE) &#8212; Ring Energy, Inc. (NYSE American: REI) (\u201cRing\u201d or the \u201cCompany\u201d) today announced that the borrowing base was reaffirmed at $600 million under its $1.0 billion senior revolving credit facility (the \u201cCredit Facility\u201d).<\/p>\n<p align=\"justify\">\n        <strong>Key Highlights<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"margin-top:3pt;margin-bottom:8pt;text-align:justify\">Reaffirmation of the borrowing base at $600 million;<\/li>\n<li style=\"margin-top:3pt;margin-bottom:8pt;text-align:justify\">No changes to the terms under the Credit Facility Agreement and Ring is currently in compliance with all applicable covenants under the Agreement; and<\/li>\n<li style=\"margin-top:3pt;margin-bottom:8pt;text-align:justify\">Next regularly scheduled bank redetermination for the Company is scheduled to occur during the fall of 2023.<\/li>\n<\/ul>\n<p align=\"justify\">Paul D. McKinney, Chairman of the Board and Chief Executive Officer, commented, \u201cWe appreciate our banking group\u2019s continued support as we execute on our initiatives designed to further strengthen the balance sheet, prudently grow the business, and enhance operational and development efficiencies.\u201d<\/p>\n<p align=\"justify\">\n        <strong>About Ring Energy, Inc.<\/strong>\n      <\/p>\n<p align=\"justify\">Ring Energy, Inc. is an oil and gas exploration, development, and production company with current operations focused on developing its Permian Basin assets. For additional information, please visit <u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=LYYJRSO9Bl2P4fUUrTGswvwcYUcWk078SkoomgPwO_jYNnlJiRuTzfRjIYg7SOqtyEObEtvjm706lgXikGVCGXvuC-2YjJjQI2EkPPZ990c=\" rel=\"nofollow noopener\" target=\"_blank\">www.ringenergy.com<\/a><\/u>.<\/p>\n<p align=\"justify\">\n        <strong>Safe Harbor Statement<\/strong>\n      <\/p>\n<p align=\"justify\">This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements involve a wide variety of risks and uncertainties, and include, without limitation, statements with respect to the Company\u2019s strategy and prospects. Such statements are subject to certain risks and uncertainties which are disclosed in the Company\u2019s reports filed with the SEC, including its Form 10-K for the fiscal year ended December 31, 2022, and its other filings. Readers and investors are cautioned that the Company\u2019s actual results may differ materially from those described in the forward-looking statements due to a number of factors, including, but not limited to, the Company\u2019s ability to acquire productive oil and\/or gas properties and to successfully drill and complete oil and\/or gas wells on its properties, general economic conditions both domestically and abroad, and other factors that are more fully described in SEC filings of the Company.<\/p>\n<p>\n        <strong>Contact Information<\/strong>\n      <\/p>\n<p>Al Petrie Advisors<\/p>\n<p>Al Petrie, Senior Partner<\/p>\n<p>Phone: 281-975-2146<\/p>\n<p>Email: <u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=j38Occ9A1ApkSbhwH5fDwcjgkhyZQNzE8d31IpTPSL5ZX90U0u56KVbQaWYSQIQF6LYaPnFOVzwUufONt36DteN3-cXySj9N0w8Fmb0RdoY=\" rel=\"nofollow noopener\" target=\"_blank\">apetrie@ringenergy.com<\/a><\/u><\/p>\n<p \/>\n      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODg2NDkyOSM1NjY1OTUwIzIwOTEwMzA=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/NTljYTdlNjMtYTkwMi00OWI0LTg5ODUtOWQwZGQwNjQ1OTIzLTExMDI2MDE=\/tiny\/Ring-Energy-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>THE WOODLANDS, Texas, June 27, 2023 (GLOBE NEWSWIRE) &#8212; Ring Energy, Inc. (NYSE American: REI) (\u201cRing\u201d or the \u201cCompany\u201d) today announced that the borrowing base was reaffirmed at $600 million under its $1.0 billion senior revolving credit facility (the \u201cCredit Facility\u201d). Key Highlights Reaffirmation of the borrowing base at $600 million; No changes to the terms under the Credit Facility Agreement and Ring is currently in compliance with all applicable covenants under the Agreement; and Next regularly scheduled bank redetermination for the Company is scheduled to occur during the fall of 2023. Paul D. McKinney, Chairman of the Board and Chief Executive Officer, commented, \u201cWe appreciate our banking group\u2019s continued support as we execute on our initiatives designed to further &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ring-energy-announces-successful-results-of-senior-credit-facility-spring-2023-redetermination\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Ring Energy Announces Successful Results of Senior Credit Facility Spring 2023 Redetermination&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-766179","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ring Energy Announces Successful Results of Senior Credit Facility Spring 2023 Redetermination - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ring-energy-announces-successful-results-of-senior-credit-facility-spring-2023-redetermination\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ring Energy Announces Successful Results of Senior Credit Facility Spring 2023 Redetermination - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"THE WOODLANDS, Texas, June 27, 2023 (GLOBE NEWSWIRE) &#8212; Ring Energy, Inc. (NYSE American: REI) (\u201cRing\u201d or the \u201cCompany\u201d) today announced that the borrowing base was reaffirmed at $600 million under its $1.0 billion senior revolving credit facility (the \u201cCredit Facility\u201d). Key Highlights Reaffirmation of the borrowing base at $600 million; No changes to the terms under the Credit Facility Agreement and Ring is currently in compliance with all applicable covenants under the Agreement; and Next regularly scheduled bank redetermination for the Company is scheduled to occur during the fall of 2023. Paul D. McKinney, Chairman of the Board and Chief Executive Officer, commented, \u201cWe appreciate our banking group\u2019s continued support as we execute on our initiatives designed to further &hellip; Continue reading &quot;Ring Energy Announces Successful Results of Senior Credit Facility Spring 2023 Redetermination&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/ring-energy-announces-successful-results-of-senior-credit-facility-spring-2023-redetermination\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-27T10:48:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODg2NDkyOSM1NjY1OTUwIzIwOTEwMzA=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ring-energy-announces-successful-results-of-senior-credit-facility-spring-2023-redetermination\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ring-energy-announces-successful-results-of-senior-credit-facility-spring-2023-redetermination\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Ring Energy Announces Successful Results of Senior Credit Facility Spring 2023 Redetermination\",\"datePublished\":\"2023-06-27T10:48:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ring-energy-announces-successful-results-of-senior-credit-facility-spring-2023-redetermination\\\/\"},\"wordCount\":357,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ring-energy-announces-successful-results-of-senior-credit-facility-spring-2023-redetermination\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODg2NDkyOSM1NjY1OTUwIzIwOTEwMzA=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ring-energy-announces-successful-results-of-senior-credit-facility-spring-2023-redetermination\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ring-energy-announces-successful-results-of-senior-credit-facility-spring-2023-redetermination\\\/\",\"name\":\"Ring Energy Announces Successful Results of Senior Credit Facility Spring 2023 Redetermination - 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McKinney, Chairman of the Board and Chief Executive Officer, commented, \u201cWe appreciate our banking group\u2019s continued support as we execute on our initiatives designed to further &hellip; Continue reading \"Ring Energy Announces Successful Results of Senior Credit Facility Spring 2023 Redetermination\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/ring-energy-announces-successful-results-of-senior-credit-facility-spring-2023-redetermination\/","og_site_name":"Market Newsdesk","article_published_time":"2023-06-27T10:48:15+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODg2NDkyOSM1NjY1OTUwIzIwOTEwMzA=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ring-energy-announces-successful-results-of-senior-credit-facility-spring-2023-redetermination\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ring-energy-announces-successful-results-of-senior-credit-facility-spring-2023-redetermination\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Ring Energy Announces Successful Results of Senior Credit Facility Spring 2023 Redetermination","datePublished":"2023-06-27T10:48:15+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ring-energy-announces-successful-results-of-senior-credit-facility-spring-2023-redetermination\/"},"wordCount":357,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ring-energy-announces-successful-results-of-senior-credit-facility-spring-2023-redetermination\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODg2NDkyOSM1NjY1OTUwIzIwOTEwMzA=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/ring-energy-announces-successful-results-of-senior-credit-facility-spring-2023-redetermination\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/ring-energy-announces-successful-results-of-senior-credit-facility-spring-2023-redetermination\/","name":"Ring Energy Announces Successful Results of Senior Credit Facility Spring 2023 Redetermination - 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