Ring Energy Announces Credit Facility Extension and Amendment

THE WOODLANDS, Texas, June 18, 2025 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE:REI) ("Ring" or the "Company") today announced that the borrowing base was affirmed at $585 million under its $1.0 billion senior secured credit facility (the "Credit Facility"). In addition, the Credit Facility term was extended to June 2029, and Bank of America, N.A. was named as new Administrative Agent.

KEY HIGHLIGHTS

Entered into a Third Amended and Restated Credit Agreement with a borrowing base of $585 million;

Extended Credit Facility term 34 months to June 2029, supported by an 11-member banking syndicate;

Reflects a 25 basis point reduction in the Applicable Margin pricing grid; and

Next regularly scheduled bank redetermination to occur during the fall of 2025.

Paul D. McKinney, Chairman of the Board and Chief Executive Officer, commented, "Ring has worked to strengthen our balance sheet and improve the quality of assets supporting our Credit Facility. We value the ongoing support from ...