Ring Energy completes public common stock offering

Ring Energy Inc. (NYSE MKT: REI) has completed the sale of 4,500,000 shares of its common stock resulting in gross proceeds of $51.75 million and estimated net proceeds of approximately $49 million, after deducting underwriting commissions and offering expenses payable by the company.

Ring Energy intends to use the net proceeds from this offering to fund a portion of its acquisition of producing wells and leaseholds in Culberson and Reeves counties, Texas, and for general corporate purposes.

In connection with the offering, SunTrust Robinson Humphrey, Inc. acted as sole bookrunner, Seaport Global Securities LLC and Euro Pacific Capital Inc. acted as senior co-managers, and IBERIA Capital Partners LLC, Northland Capital Markets, Roth Capital Partners, and Ladenburg Thalmann acted as co-managers.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...