RING ENERGY Business Summary

Ring Energy, Inc. (REI) is an independent oil and natural gas company focused on the acquisition, exploration, and development of high-margin properties in the Permian Basin, specifically within the Northwest Shelf and Central Basin Platform of Texas and New Mexico. The company generates revenue through the extraction and sale of crude oil, natural gas, and natural gas liquids (NGLs), maintaining an oil-weighted production profile that typically accounts for approximately 70% of its total sales volume. Ring’s business model centers on a "buy and build" strategy, leveraging horizontal drilling and cost-efficient workovers on low-decline conventional and unconventional assets to maximize free cash flow and reduce leverage. Within the market, Ring Energy operates as a focused Permian pure-play, competing directly with mid-cap peers such as Vital Energy, Inc., Riley Exploration Permian, Inc., and SandRidge Energy, Inc. Relative to these competitors, Ring differentiates itself by targeting mature, lower-risk reservoirs that offer predictable production curves and lower capital intensity compared to high-cost Tier 1 shale acreage. The leadership team is headed by Paul D. McKinney, who serves as Chairman and Chief Executive Officer, bringing over 35 years of industry experience from executive roles at SandRidge Energy and Apache Corporation. He is supported by Travis T. Thomas, Executive Vice President and Chief Financial Officer, who oversees the company’s capital allocation and debt reduction initiatives, and Stephen D. Jumper, Executive Vice President and Chief Operating Officer, a veteran geophysicist and former CEO of Dawson Geophysical. The company was originally co-founded by industry veterans Lloyd T. Rochford and Stanley M. McCabe, though the current management has pivoted the firm toward institutional-scale operations following the transformative 2022 acquisition of Stronghold Energy. Ring’s board includes notable figures such as John A. Ginstling and Anthony B. Moore, reflecting a governance structure focused on disciplined growth and strategic deleveraging to enhance shareholder value.