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Ring Energy Inc. announced that the borrowing base under its senior revolving credit facility was recently successfully reaffirmed at $350 million.
Key Highlights:
- Reaffirmation of the borrowing base at $350 million
- Prior hedging requirement of 3,100 barrels per day of crude oil sales for calendar 2022 remains unchanged and is fully covered by hedges currently in place
- Next regularly scheduled bank redetermination for the Company is scheduled to occur during May 2022.
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