The Woodlands-based Ring Energy said its acquisition of Lime Rock Resources earlier this year has grown its total production by 12 percent. Paul McKinney, chairman and CEO, said Ring is looking to grow its production in Central Basin Platform both by acquisition and organically as it faces greater competition in the region between more well-known Delaware and Midland basins.
“I’d like for Ring to be the consolidation leader of the Central Basin Platform in the southern part of the shelf,” McKinney said April 1. “We know these areas very, very well. I am convinced that many of the stacked plays that are not being pursued … demonstrate real promise.”
Ring grew its overall reserves by 3 percent in 2024, and in the fourth quarter net production grew to nearly 20,000 boed (66 percent oil). McKinney added, “We’re trying to negotiate our way to acquire more before the whole industry catches on and then the Central Basin Platform becomes as popular as the Delaware and Midland.”