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Ring Energy Details 2014 Capex, Fourth Quarter 2013 Operations

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January 15, 2014

Ring Energy Inc. (NYSE MKT: REI) detailed its 2014 capex budget Jan. 14. It has $90 million allocated, the company said. Ring also detailed an update on its fourth quarter 2013 operations the same day.

Regarding the capex, Ring’s chairman Tim Rochford said “This budget reflects the company's plans to accelerate the present development schedule of its operations in its Permian Basin properties. The budget includes the drilling of a minimum of 105 development wells, multiple workovers and re-stimulations of existing wells, continued leasing activity, infrastructure additions and improvements.”

He ...

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