The Woodlands-based Ring Energy said last week it sold non-core assets in Delaware Basin in 2023Q2 to an unaffiliated private buyer for gross sales price of $8.25 million (net proceeds of $7.8 million). Recent production on the assets was 240 boed (85 percent oil). “We were pleased to complete the sale of our non-core Delaware Basin assets,” Paul D. McKinney, chairman and CEO, said July 5, “This sale emphasizes our focus on building and developing our core positions in the northwest shelf and central basin platform that continue to generate significant returns.”
Ring also said it is actively pursuing the sale of its operated assets in New Mexico, including about 5,700 gross acres (5,180 net) with current production of about 300 boed (93 percent oil).
