Energy

Ring Energy, Inc. (NYSE: REI) Completes Acquisition of Lime Rock Resources’ CBP Assets in the Permian Basin

Tue 01 Apr 25, 11:09 AM |

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Highlights

Ring Energy, Inc. (NYSE : REI) has finalized its acquisition of Lime Rock Resources IV, LP’s Central Basin Platform (CBP) assets as of March 31, 2025. The assets are located in the Permian Basin, specifically in Andrews County, Texas, and span around 17,700 net acres. These assets are similar to Ring’s existing CBP holdings, particularly in the Shafter Lake area, with the remaining acreage offering exposure to new active plays.

The acquisition is highly accretive, with the CBP assets contributing approximately 2,300 barrels of oil equivalent per day (Boe/d), with over 80% of that production being oil. The deal is expected to generate around $34 million in 2025 estimated adjusted EBITDA. Additionally, it adds to Ring’s proven developed reserves, with $120 million in oil-weighted reserves, which supports the company’s goal of reducing debt through higher adjusted free cash flow (AFCF) generation.

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