Ring Energy (REI) Tops Q3 EPS by 5c, Revenues Beat
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Ring Energy Announces Financial and Operational Results for the Three and Nine-Month Periods Ending September 30, 2020
November 9, 2020 4:12 PM ESTMIDLAND, Texas--(BUSINESS WIRE)-- Ring Energy, Inc. (NYSEAM: REI) (Ring) (Company) announced today financial and operational results for the third quarter ended September 30, 2020.
Q3 2020 Highlights
Increased net oil & gas sales by 74.0% to 9,549 Boe/d (89% oil), compared to 5,487 Boe/d (86% oil) for Q2 2020 Decreased LOE1 by 38.5% to $8.88 million or $10.11/Boe, compared to $14.43 million or $14.03/Boe for Q3 2019 Decreased cash G&A2 by 34.6% to $1.93 million or $2.20/Boe, compared to $2.95 million or $2.87/Boe for Q3 2019 Reported net loss of $1.96 million, or $0.03 per diluted share.... More