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Dec 31, 2025
Ring Energy Q4 2025 Earnings Report
Ring Energy reported a net loss in Q4 2025 due to a non-cash impairment, while remaining cash flow positive with modest production growth and lower operating costs.
Key Takeaways
Ring Energy generated $66.9 million in revenue during Q4 2025 but reported a net loss of $12.8 million driven primarily by a $35.9 million non-cash ceiling test impairment. Operational performance remained stable with average production of 20,508 Boe/d and lower lease operating expenses. The company continued to produce positive free cash flow and reduced debt during the quarter.
Revenue totaled $66.9 million while the company recorded a $12.8 million net loss due largely to a $35.9 million non-cash impairment.
Average production reached 20,508 Boe/d, exceeding the midpoint of guidance.
Lease operating expenses declined to $10.02 per Boe, beating guidance and improving operating efficiency.
Ring generated adjusted free cash flow and continued debt reduction during the quarter.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For 2026, Ring Energy expects relatively flat production with disciplined capital spending and continued focus on debt reduction and operational efficiency.
Positive Outlook
- Production midpoint guidance of about 20,150 Boe/d.
- Capital spending midpoint set at approximately $115 million with disciplined allocation.
- Plan to drill and complete roughly 28 wells during 2026.
- Management targeting continued debt reduction depending on commodity prices.
- Focus on improving capital efficiency and drilling longer lateral wells.
Challenges Ahead
- Production expected to remain essentially flat year over year.
- Commodity price volatility remains a key external risk.
- Capital spending still required to maintain production levels.
- Production temporarily impacted by winter storm early in 2026.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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