Ring Energy, Inc. Signs Definitive Agreement to Acquire North Central Basin Assets from Wishbone Energy Partners

Ring Energy, Inc. Announces Closing of Andrews County Acquisition

Dateline City:
MIDLAND, Texas

Company Doubles Production, EBITDA, Proved Reserves and PV-10, Creating the Largest Horizontal San Andres Company on the Platform / Northwest Shelf

MIDLAND, Texas–(BUSINESS WIRE)–Ring Energy, Inc. (NYSE American: REI) (“Company”) (“Ring”) announced
today that it has entered into a definitive agreement with Wishbone
Energy Partners, LLC and its affiliates (“Wishbone”) to acquire its
North Central Basin Platform assets located primarily in Southwest
Yoakum County, Texas and East Lea County, New Mexico. The total purchase
price for the acquisition is $300 million, comprised of $270 million of
cash and $30 million of common stock of the Company.

Language:
English

Contact:

Bill Parsons, K M Financial, Inc. (702) 489-4447

Ticker Slug:
Ticker:
REI

Exchange:
NYSEAM

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