Ring Energy, Inc. (NYSE American: REI) reduced outstanding borrowings under its senior revolving credit facility by $66 million during the second quarter of 2026, bringing total debt under the facility to $360 million as of June 30, 2026, according to a company press release.

The debt reduction was funded through net proceeds from a recently completed equity offering, including the full exercise of the underwriters' greenshoe option, as well as cash flow from operations. The moves lifted the company's liquidity to $226.1 million at June 30, 2026, up from $160 million at March 31, 2026, a roughly 41% increase.

The company's $1.0 billion senior revolving credit facility was also amended and its borrowing base reaffirmed at $585 million following a semi-annual redetermination. The amendment eliminated a 10-basis-point SOFR credit spread adjustment. Ring Energy's next borrowing base redetermination is scheduled for fall 2026.

Paul D. McKinney, Chairman of the Board and Chief Executive Officer, said the borrowing base reaffirmation "underscores the strength of Ring's asset base and the continued confidence of our lending group."

Ring Energy is an independent oil and natural gas exploration and production company based in The Woodlands, Texas, with operations focused in the Permian Basin.