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Ring Energy Pays Down $66 Million in Debt, Reaffirms Borrowing Base at $585 Million

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Ring Energy (REI) paid down $66 million in debt during the second quarter, with its borrowing base under its $1 billion senior revolving credit facility reaffirmed at $585 million, the company said Thursday.

Total debt outstanding under the credit facility stood at $360 million as of June 30, the company said. The next borrowing base redetermination is scheduled for fall 2026.

Ring Energy also said the credit facility was amended to eliminate the 10-basis-point SOFR credit spread adjustment.

Ring Energy used net proceeds from its recently completed equity offering and cash flow from operations to pay down the debt. As of June 30, the company increased its liquidity to $226.1 million from $160 million at March 31.

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