Ring Energy: The Hidden Treasure Of The Permian Basin
Ring Energy is an upstream oil & gas company with operations in the Permian Basin, a sedimentary basin that produces about 47% of the U.S. daily production. Management is extremely committed to the success of the company - increased sales guidance for the second quarter of 2024 and announced debt reduction results. REI is undervalued, trading at a discount to book value, with strong free cash flow and debt reduction plans.
Ring Energy: A Founders Ticket To A Solution
Ring Energy, Inc.'s acquisition of Founders resulted in higher-than-expected production and lower costs. Despite being all debt, the Founders acquisition may be financially beneficial for the company, with the debt expected to be repaid within a year and a half. The acquisition has increased free cash flow and improved profitability. This led to a $15 million debt repayment in the second quarter.
Ring Energy: Lowered Free Cash Flow Expectations Despite Strong Q1 Sales Volumes
Ring Energy, Inc. reported Q1 2024 sales volumes above expectations. It did not change its full-year guidance, but I am assuming it will do better than the guidance midpoint. Despite this, Ring's 2024 free cash flow is now projected at $55 million, $12 million less than when I last looked at it.
Ring Energy: Big Cash Flow Progress
Ring Energy, Inc. management is working towards achieving an appropriate debt ratio which would revalue the stock considerably higher. The company has reported significant financial and operating improvements from recent acquisitions, which are helping to meet market and debt requirements. Despite natural gas price drops, Ring Energy has managed to maintain a stable debt ratio, indicating potential progress if commodity prices remain steady.
Penny Stocks That Could Pay Off Big: 3 Overlooked Names Ready to Run
Latam Logistic Properties (NYSE: LPA ) caught my attention, with the stock skyrocketing by 1,730% last month. A big season for meme names seems to be unfolding and there will be ample opportunities to make quick money in penny stocks.
