Company: REI
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001628280-25-017570
Chunk: 2

Company: RING ENERGY, INC.
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 2
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63.6 million paid at closing, and $10 million due on the nine month anniversary of closing, and issuance of approximately 6.5 million shares of common stock at closing. The transaction has an effective date of October 1, 2024, and closed on March 31, 2025.

Lime Rock’s CBP acreage is in Andrews County, Texas, where the majority of the acreage directly offsets Ring’s core Shafter Lake operations, and the remaining acreage to the south is prospective for multiple horizontal targets and exposes Ring to active new plays. The acquisition ideally suits Ring's focus on consolidating producing assets in core counties in the CBP defined by shallow declines, high margin production and undeveloped inventory that immediately competes for capital. Additionally, these assets add significant near-term opportunities for field level synergies and cost savings.

1 Adjusted EBITDA, Adjusted Free Cash Flow, all-in cash operating costs and PV-10 are non-GAAP financial measures. See Appendix A for a reconciliation of these financial measures to our most directly comparable financial measure calculated in accordance with GAAP.

2 Ring Energy acquired the Permian Basin assets of Stronghold Energy II Operating, LLC and Stronghold Energy II Royalties, LP (collectively, “Stronghold”) closing the transaction on August 31, 2022 (the ”Stronghold Acquisition”).

3 On August 15, 2023, Ring Energy completed the asset acquisition of privately held Founders Oil & Gas IV, LLC ("Founders", or the “Founders Acquisition”).

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#### 2025 PROXY STATEMENT
During 2024, we benefited from the success of our high-return drilling and recompletion programs, including the drilling and completion of 21 horizontal wells and 22 vertical wells. As mentioned, our success in 2024 was reflected in our year end SEC proved reserves that increased 3% to 134.2 MMBoe despite a 4% reduction in SEC oil prices and the sale of non-core assets, demonstrating the success of our focus on organic growth.

Our recent acquisitions also provide the opportunity to invest in leading technologies designed to reduce our relative environmental footprint over time, enhance our employee training and benefits programs, and partner with the local communities in which we work and operate. One key example of our ongoing success was the 59% year-over-year decrease in our Scope 1 GHG emissions from 2022 to 2023 4 that was primarily associated with our targeted capital