Ring Energy: Aiming For Both Production Growth And Deleveraging In 2027

Ring raised its 2026 capex to $168M from $115M (+$53M), enabling more horizontal drilling with benefits largely shifting to 2027. For 2027, Ring reiterates a plan for ~10% production growth while keeping the capex budget at $150M. Overall, the update modestly improves the forward production outlook, but the near-term impact is likely limited.

Analysis

Ring raised its 2026 capex to $168M from $115M (+$53M), enabling more horizontal drilling with benefits largely shifting to 2027. For 2027, Ring reiterates a plan for ~10% production growth while keeping the capex budget at $150M. Overall, the update modestly improves the forward production outlook, but the near-term impact is likely limited.