Ring Energy, Inc. reported its debt reduction target for the third quarter of 2025, aiming to reduce approximately $18 million in debt.
The company expects to have around $430 million in borrowings outstanding on its credit facility by September 30, 2025, down from $448 million in June 2025.
Warburg Pincus has exited its full common equity position in Ring Energy, marking a change in ownership status.
Debt Reduction Target
Ring Energy aims to reduce $18 million in debt for the third quarter of 2025.
Credit Facility Outlook
Expected borrowings outstanding to decrease to $430 million by September 30, 2025.
Ownership Update
Warburg Pincus exits its common equity position in Ring Energy.
- Ring Energy adjusted its operations in response to oil price decreases, focusing on generating free cash flow and reducing debt.
- The company's debt reduction demonstrates its commitment to strengthening its balance sheet during volatile market conditions.
Ring Energy's strategic debt reduction target and ownership update reflect its proactive stance towards financial stability and growth in the challenging market environment.