Ring Energy to Sell Delaware Basin Asset in Culberson and Reeves Counties

Updated 1 year 5 months ago

Ring Energy entered into an agreement to sell its Deleware Basin asset located in Culberson and Reeves Counties in Texas for $31.5 million. The property consists of 20,000 net acres with provide developed producing reserves independently estimated at 3.48 million barrels of oil and 10,055 million cubic feet of natural gas. The transaction has a $500,000 non-refundable deposit and is expected to close in 60 days.