Ring Energy, Q3 2026 Earnings Call Transcript

Ring Energy says its third-quarter investment push advanced longer-lateral, co-developed drilling and expanded its core Central Basin Platform acreage, while non-core asset sales helped fund development and reduce debt. Sales volumes rose 3% sequentially; adjusted EBITDA increased 5% despite lower realized prices. The company expects fourth-quarter capital spending to step down and free cash flow to turn positive, remaining positive for 2026 as a whole.

For 2027, Ring forecasts 10% production growth with capital spending of $135–165 million and 20–30 new horizontal wells. Management expects longer laterals and co-development to deliver more production and reserves per dollar, though benefits may take several quarters to show in results. First-half spending will be weighted toward the start of the year; additional hedges are intended to support positive free cash flow even at $65 WTI. The company also aims to keep reducing debt and leverage.