Ring Energy, Inc. Common Stock
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Ring Energy, Inc. Common Stock (REI) is an independent oil and natural gas company headquartered in The Woodlands, Texas. Founded in 2004, it was formerly known as Transglobal Mining Corp. before changing its name to Ring Energy, Inc. in March 2008. The company engages in the acquisition, exploration, development, and production of oil and natural gas properties, with a focus on assets in Texas and New Mexico.
The company holds interests across several counties in the Permian Basin region. In Texas it has interests in 74,717 net developed acres and 4,366 net undeveloped acres spread across Andrews, Gaines, Crane, Ector, Winkler, and Ward counties. It also holds 8,833 net developed acres and 8,318 net undeveloped acres in Yoakum County, Texas and Lea County, New Mexico. This acreage forms the base of its drilling and production activity.
Ring Energy earns income primarily by selling the oil and natural gas it produces. Its customers include end users, marketers, and other purchasers of crude oil and natural gas. As an independent producer, the company concentrates on developing its existing acreage and acquiring additional properties rather than operating in downstream segments such as refining or retail fuel sales. Its position in established producing areas of West Texas and southeastern New Mexico places it within one of the most active oil and gas regions in the country. By focusing on acquisition and development of these properties, REI aims to grow its production base, though the source does not provide specific output figures or financial results.