Ring Energy Targets $18 Mln Debt Reduction In Q3 As Warburg Pincus Exits Stake

(RTTNews) - Ring Energy, Inc. (REI) announced a third-quarter 2025 debt reduction target of approximately $18 million and confirmed that Warburg Pincus has fully exited its equity stake in the company.

Ring expects borrowings under its credit facility to decline to about $430 million as of September 30, 2025, down from $448 million at the end of June 2025.

CEO Paul D. McKinney said the company responded to this year's oil price decline by cutting capital spending and adjusting operations to maximize free cash flow for debt repayment. He added that the debt reduction goal underscores Ring's commitment to a stronger balance sheet and acknowledged Warburg Pincus' role in supporting the company's 2022 Stronghold acquisition.

Tuesday, REI closed at $1.06, up 8.02%, and is trading after hours unchanged on the NYSE American.