Ring Energy Provides Production Guidance
Portfolio Pulse from Benzinga Newsdesk
Ring Energy has provided its production guidance for the third quarter of 2024, expecting increased sales volumes and lower capital spending and operating expenses. The company projects sales volumes of 13,200 to 13,800 Bo/d and 19,000 to 19,800 Boe/d, with capital expenditures between $35 million and $45 million. LOE is expected to be $10.50 to $11.25 per Boe.
August 06, 2024 | 9:32 pm
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POSITIVE IMPACT
Ring Energy has provided optimistic guidance for Q3 2024, expecting increased sales volumes and lower capital spending and operating expenses. This could positively impact the stock price in the short term.
The guidance indicates improved operational efficiency and higher production, which are positive indicators for investors. Lower capital spending and operating expenses suggest better cost management, likely leading to a favorable short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100