Ring Energy Announces The Closing Of The Founders Oil & Gas Permian Basin Assets Acquisition

Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today announced it has completed its previously announced acquisition (the “Transaction”) of the Central Basin Platform (“CBP”) assets of Founders Oil & Gas IV, LLC (“Founders”). Founders’ CBP operations are located in the Permian Basin in Ector County, Texas and are focused on the development of approximately 3,600 net acres that are similar to Ring’s CBP assets acquired in 2022 from Stronghold Energy Operating II, LLC and its affiliate (“Stronghold”).