Ring Energy reported Q4 sales volumes averaging 20,508 Boe per day, near the midpoint of guidance and contributing to a record full-year average of 20,253 Boe per day. Fourth-quarter revenue totaled $66.9 million with a net loss of $12.8 million including a $35.9 million impairment, while adjusted net income was $3.6 million and adjusted free cash flow reached $5.7 million.

The company reduced capital spending by 35% year-over-year, achieving drilling capital efficiency of $500 per lateral foot (up 3% YoY and 19% since 2023). Lease operating expense declined 18% over the last six months, and Ring paid down $8 million of debt in Q4 and $40 million since closing its acquisition, plus a $10 million deferred payment in December.

At year-end, Ring had $420 million drawn on its credit facility with $165 million available net of letters of credit and total liquidity of $166 million. The leverage ratio stood at 2.2 times, and the company has hedged 2.3 million barrels of oil (48% of expected sales) and 4.7 Bcf of gas (66% of expected sales) for 2026.

Management plans a disciplined capital program of $100–130 million to hold production roughly flat under a $60 per barrel WTI and $3.50 per Mcf Henry Hub planning case. The focus remains on debt reduction and reassessing hedge strategies in light of evolving market conditions.