Ring Energy Inc.
Description
Ring Energy Inc. completed the scheduled fall 2019 redetermination evaluation of its $1 billion senior credit facility. The company entered into an amendment to the senior credit facility as part of the scheduled fall redetermination. The amendment reaffirmed the immediate borrowing base at $425 million and required the company, as it has been required in the past, to enter into additional hedges for 2020 and 2021. The next redetermination evaluation is scheduled for May 2020.