Ring Energy, Inc. Announces Executive Management Changes
November 01, 2020 at 02:35 am IST
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Ring Energy, Inc. announced executive management changes effective November 30, 2020. Ring Energy, Inc. has announced the promotion of Mr. Stephen D. Brooks to Executive Vice President of Land, Legal, Human Resources and Marketing. He will report directly to Paul D. McKinney, Chief Executive Officer and Chairman of the Board. In this new position, Mr. Brooks will be assuming roles previously held by Mr. Matt Garner, who joined Ring Energy, Inc. in 2016 and has served as General Counsel and Vice President of Land for the company. Following the conclusion of a transition period, Mr. Garner will remain in Austin, Texas, where he intends to explore new professional opportunities.
Ring Energy, Inc. is an oil and gas exploration, development, and production company. The Company is focused on the development of its Permian Basin assets. Its primary drilling operations target the oil and liquids-rich producing formations in the Northwest Shelf and the Central Basin Platform, in the Permian Basin in Texas. The Company's leasehold acreage positions total approximately 96,127 gross (80,535 net) acres, and it holds interests in approximately 1,043 gross (864 net) producing wells. All of its properties are located in the Permian Basin and its proved reserves are oil-weighted, with approximately 63% consisting of oil, 19% consisting of natural gas, and 18% consisting of natural gas liquids. Of those reserves, approximately 68% are classified as proved developed and 32% are classified as proved undeveloped. Its proved reserves are approximately 129.8 million barrels of oil equivalent (BOE).
RING ENERGY, INC. 
