Ring Energy Inc. (REI) closed the sale of 4.5 million common shares for about $52 million in gross proceeds, the company said June 23.
The proceeds will fund part of the acquisition of producing wells and leaseholds in Culberson and Reeves counties, Texas. They will also support general corporate purposes.
SunTrust Robinson Humphrey Inc. was sole book-runner. Seaport Global Securities LLC and Euro Pacific Capital Inc. were senior co-managers. Iberia Capital Partners LLC, Northland Capital Markets, Roth Capital Partners and Ladenburg Thalmann were co-managers.
Ring Energy Inc. is based in Midland, Texas.
Recommended Reading
Talos Energy Expands Leadership Team After $1.29B QuarterNorth Deal
2024-04-25 - Talos Energy President and CEO Tim Duncan said the company has expanded its leadership team as the company integrates its QuarterNorth Energy acquisition.
Energy Transfer Ups Quarterly Cash Distribution
2024-04-25 - Energy Transfer will increase its dividend by about 3%.
ProPetro Ups Share Repurchases by $100MM
2024-04-25 - ProPetro Holding Corp. is increasing its share repurchase program to a total of $200 million of common shares.
Baker Hughes Hikes Quarterly Dividend
2024-04-25 - Baker Hughes Co. increased its quarterly dividend by 11% year-over-year.
Weatherford M&A Efforts Focused on Integration, Not Scale
2024-04-25 - Services company Weatherford International executives are focused on making deals that, regardless of size or scale, can be integrated into the business, President and CEO Girish Saligram said.