Ring Energy shares are trading higher after the company announced it has entered into an agreement to acquire the Central Basin Platform assets of Founders Oil & Gas IV for $75 million in cash.
Portfolio Pulse from Benzinga Newsdesk
Ring Energy has announced an agreement to acquire the Central Basin Platform assets of Founders Oil & Gas IV for $75 million in cash. This has led to an increase in Ring Energy's share price.
July 11, 2023 | 5:01 pm
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Ring Energy's stock price has increased following the announcement of its acquisition of Founders Oil & Gas IV's assets for $75 million in cash.
The acquisition of Founders Oil & Gas IV's assets is a significant move for Ring Energy, which has led to increased investor confidence and a rise in the company's stock price. The cash nature of the deal also indicates strong financial health.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100