Jeffrey Robertson
Water Tower Research LLC
Thank you for joining today’s fireside chat with Ring Energy’s senior leadership team. We’re joined today by Chairman and CEO, Paul McKinney; COO, Alex Dyes; Chief Exploration Officer, James Parr; and CFO, Sonu Johl. I am Jeff Robertson, Managing Director for Natural Resources here at Water Tower Research.
Before we begin, I would like to remind participants that today’s discussion could include forward-looking statements as of today, May 20, 2026. Ring’s disclosures regarding forward-looking statements can be found under the Investor Relations tab of its corporate homepage. We may refer to slides from Ring’s latest investor deck, which can also be found under the Investor Relations tab of the company’s homepage.
With that housekeeping out of the way, Alex, Paul, James and Sonu, thank you for joining us today.
Jeffrey Robertson
Water Tower Research LLC
Ring is an exploration and production company whose assets are concentrated on the Northwest Shelf and Central Basin Platform areas of the Permian Basin, where reservoir targets primarily consist of multiple stacked formations with known hydrocarbons. Ring and offset operators are turning to horizontal drilling to extract greater value from some of the producing reservoirs. First quarter 2026 production averaged about 19,350 BOE per day, of which 63% was oil and Ring’s adjusted EBITDA was $38.3 million. A
 Discusses Horizontal Drilling Strategy and Impact of Recent Equity Offering on Deleveraging Goals Transcript){kind=link}