7 Aug 2020substantial holder notice● Neutral
BlackRock, Inc reported a RING ENERGY, INC. shareholding of 5,853,683 shares (8.60% of votes) in a periodic institutional filing.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
28 July 2020quarterly activities report▼ Bad
Ring Energy said second-quarter 2020 production averaged about 5,500 BOEPD after curtailing nearly all output from late April to early June. The borrowing base was cut from $425 million to $375 million, and the Delaware sale was expected to close by early August.
19 June 2020debt financing▼ BadMajor
As oil prices crashed in 2020, Truist (SunTrust's successor after a bank merger) cut Ring's borrowing base from $425 million to $375 million and tightened its loan covenants, including a new cash sweep above $20 million. The amendment also cleared the way for Ring to sell its Delaware Basin assets - the Ford West/Ford Geraldine properties bought in 2015 - as the company moved to shore up its balance sheet.
15 May 2020securities registration● Neutral
RING ENERGY, INC. amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
14 May 2020quarterly activities report▼ Bad
Ring Energy reported first-quarter 2020 net income of $43.8 million ($0.64 per diluted share), helped by a $47.1 million unrealized derivative gain, on revenue of $39.6 million. It also agreed to sell its Delaware Basin acreage for $31.5 million.
11 May 2020quarterly activities report▼ Bad
Ring filed its 10-Q for the quarter ended March 31, 2020, with 67,977,095 shares outstanding at May 11, 2020. The filing flagged risks including oil price declines and the COVID-19 pandemic.
4 May 2020securities registration● Neutral
RING ENERGY, INC. registered a securities offering with the SEC using its shelf eligibility.
24 Apr 2020quarterly activities report● Neutral
Ring released its first-quarter 2020 operations update: it drilled four new horizontal wells, halted drilling, and cut 2020 capex to about $32 million. Net production was about 991,772 BOE (10,899 BOEPD), up 12.9% on Q1 2019 but down 5.5% on Q4 2019.
18 Mar 2020substantial holder notice● Neutral
Wishbone Energy Partners and S. Wil VanLoh, Jr. reported owning 1,269,035 Ring shares (1.9%) as of December 31, 2019, meaning they had ceased to hold more than 5%. The shares were held in escrow for indemnification claims, with no voting rights meanwhile.
2 Mar 2020substantial holder notice● Neutral
Dr. Simon Kukes, with Ivar Siem and Douglas Schick, disclosed in an amended 13D that the group held 6,623,681 Ring shares (9.8%), of which Kukes held about 6.6 million. They said they had urged the board to run a strategic process and consider transactions to enhance shareholder value.
27 Feb 2020financial restatement● Neutral
Ring found and is correcting a non-cash income-tax accounting error in its first three 2019 quarterly reports, to be restated in its 2019 annual report. The company says it has no effect on cash flow, EBITDA, liquidity or operations - a bookkeeping fix, not a financial-health issue.
18 Feb 2020substantial holder notice● Neutral
Dr. Simon G. Kukes reported a RING ENERGY, INC. shareholding of 6,200,000 shares (9.10% of votes) in a periodic institutional filing.
11 Feb 2020substantial holder notice● Neutral
The Vanguard Group disclosed a new substantial RING ENERGY, INC. shareholding (5.47% of votes).
5 Feb 2020substantial holder notice● Neutral
Franklin Resources, Inc, Charles B. Johnson, Rupert H. Johnson, Jr reported no remaining RING ENERGY, INC. shareholding in its periodic institutional filing.
4 Feb 2020substantial holder notice● Neutral
BlackRock, Inc reported a RING ENERGY, INC. shareholding of 9,403,401 shares (13.90% of votes) in a periodic institutional filing.
22 Jan 2020quarterly activities report● Neutral
Ring reported its fourth-quarter 2019 operations update: it drilled four new Northwest Shelf wells, and net production was about 1,049,200 BOE (11,405 BOEPD), up 68.4% from the fourth quarter of 2018.
9 Dec 2019debt financing● Neutral
SunTrust reaffirmed Ring's borrowing base at $425 million following the Wishbone deal, an unchanged, routine confirmation rather than a new development.
13 Nov 2019agm notice● Neutral
Ring gave notice of its annual meeting on December 17, 2019, asking stockholders to elect seven directors, vote on executive pay, ratify Eide Bailly as auditor, and approve adding 2,500,000 shares to the incentive plan.
6 Nov 2019quarterly activities report● Neutral
Ring filed its 10-Q for the quarter ended September 30, 2019; 67,811,611 shares were outstanding at November 6, 2019.
21 Oct 2019quarterly activities report● Neutral
Ring reported third-quarter 2019 operations: six new one-mile horizontal San Andres wells drilled on the Northwest Shelf, and net production of about 1,015,000 BOE (11,033 BOEPD), up about 4% on the second quarter.
27 Sept 2019director interest notice● Neutral
Roesener Regina became a RING ENERGY, INC. director and company insider (initial ownership filing).
17 Sept 2019director interest notice● Neutral
RING ENERGY, INC. CEO Hoffman Kelly W. bought 10,000 shares on the open market at $1.47.
13 Sept 2019director interest notice● Neutral
RING ENERGY, INC. CEO Hoffman Kelly W. bought 22,000 shares on the open market at $1.60.
12 Sept 2019director interest notice● Neutral
RING ENERGY, INC. President Fowler David A. bought 20,750 shares on the open market at $1.66.
12 Sept 2019director interest notice● Neutral
RING ENERGY, INC. Chief Financial Officer Broaddrick William Randall bought 25,000 shares on the open market at $1.69.
11 Sept 2019director interest notice● Neutral
RING ENERGY, INC. director Mccabe Stanley Myron bought 10,000 shares on the open market at $1.54.
11 Sept 2019director interest notice● Neutral
RING ENERGY, INC. director Rochford Living Trust Lloyd Timothy Rochford, Trustee bought 25,000 shares on the open market.
10 Sept 2019director interest notice● Neutral
RING ENERGY, INC. CEO Hoffman Kelly W. bought 15,000 shares on the open market at $1.40.
26 Aug 2019quarterly activities report● Neutral
Ring gave a mid-third-quarter update: in the first 47 days it drilled six 1-mile horizontal San Andres wells on the Northwest Shelf. Four were completed and testing at 400 to 500 BOEPD.
7 Aug 2019quarterly activities report● Neutral
Ring reported second quarter 2019 net income of $12.4 million ($0.18 per diluted share) on oil and gas revenues of $51.3 million, up from $29.9 million a year earlier.