Ring Energy, Inc. Announces the Appointment of Mr. John A. Crum and Mr. Richard E. Harris to the Board of Directors
October 30, 2020 at 02:42 am IST
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Ring Energy, Inc. announced the appointment of Mr. John A. Crum and Mr. Richard E. Harris to the Company’s Board of Directors. Mr. Crum and Mr. Harris will be joining as independent Directors. Mr. Crum has been involved with worldwide oil and gas development for more than 40 years. He is the managing partner of JAC Energy Partners, LLC, which was formed to provide advice to companies and individual investors in oil and gas exploration and development. From 2008 until 2015, Mr. Harris was Vice President, Chief Investment Officer with responsibility for overseeing the sourcing, evaluation and execution of the company’s acquisitions, investments, joint ventures and divestments on a global basis. Mr. Harris served as the Secretary of the Finance Committee of the Board of Directors his entire 13 year career with Cummins. Key responsibilities included financial planning, cash management, pension management, as well as foreign exchange and debt hedging activities. Mr. Crum and Mr. Harris will replace Mr. Stanley McCabe, Co-founder of Ring Energy, Inc., and Mr. David Fowler, President of Ring Energy, Inc., who have resigned their seats on the Board of Directors.
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. 
