The Woodlands-based Ring Energy said April 26 that 2022Q1 production averaged 8,870 boed (85 percent oil) – above high end of guidance of 8,500 to 8,700 boed in Permian Basin of west Texas and east New Mexico. Ring’s one-rig program started in late January and drilled 6 wells (4 on Central Basin Platform and 2 on Northwest Shelf). Four Central Basin platform wells turned to sales.
“Our operations teams continue to perform efficiently and effectively maintaining our base production and bringing on new development wells ahead of schedule,” Paul D. McKinney, chairman and CEO, said. “Our performance this quarter establishes a solid foundation for 2022 and encourages us to continue executing on our value-focused, proven strategy.”