Site icon Fintech Advance

Ring Energy Stock: Reviewing Its Outlook For 2024 (NYSE:REI)

Ring Energy (NYSE:REI) is currently projected to generate $67 million in free cash flow in 2024 at low-$80s WTI oil strip prices. Ring has hedged approximately 45% of its 2024 oil production (at guidance midpoint) and those oil hedges reduce its

Barrels/Mcf $ Per Barrel/Mcf (Realized) $ Million
Oil 4,726,750 $80.50 $381
NGLs 991,618 $13.00 $13
Natural Gas 6,198,775 -$0.10 -$1
Hedge Value -$15
Total Revenue $378

$ Million
Production Expenses $74
Production and Ad Valorem Taxes $27
Cash G&A $20
Capital Expenditures $155
Cash Interest Expense $35
Total Cash Expenditures $311

Read the full article here

Exit mobile version