Ring Energy Announces The Closing Of The Stronghold Permian Basin Assets Acquisition
Acquiring Company
Ring Energy
Acquired Company
Stronghold
The WoodlandsNew YorkEnergyOil And GasNatural ResourcesFinancial ServicesCommerce And ShoppingLending And InvestmentsDescription
Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today announced it has completed its previously announced acquisition (the “Transaction”) of the assets of privately-held Stronghold Energy II Operating, LLC and Stronghold Energy II Royalties, LP (collectively, “Stronghold”). Stronghold’s operations are located primarily in Crane County, Texas and focused on the development of approximately 37,000 net acres in the Permian Basin’s Central Basin Platform (“CBP”).
Quick answer
Ring Energy is acquiring Stronghold, announced September 1, 2022. Ring Energy is based in The Woodlands, Texas, United States.
- How much did Ring Energy pay for Stronghold?
- The deal value was not disclosed.
- What does Ring Energy do?
- Ring Energy, Inc. is an oil and gas exploration, development, and production company with current operations focused on the conventional development of its Permian Basin assets in West Texas and New Mexico.
- Where are Ring Energy and Stronghold based?
- Ring Energy is based in The Woodlands, Texas, United States. Stronghold is based in New York, United States.
- Who are the decision-makers at Ring Energy?
- Fundz holds 1 contact at Ring Energy. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
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Frequently asked
Who acquired Stronghold?
Stronghold was acquired by Ring Energy, based in The Woodlands. The deal was reported on September 1, 2022. Ring Energy, Inc. is an oil and gas exploration, development, and production company with current operations focused on the conventional development of its Permian Basin assets in West Texas and New Mexico. Ring Energy is publicly traded (REI) and operates in Energy.
When did Ring Energy acquire Stronghold?
Ring Energy's acquisition of Stronghold was reported on September 1, 2022. Ring Energy, Inc. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Stronghold do?
The Company has already received a first advance of approximately $18.6 million (gross). Stronghold is a vertically integrated Bitcoin mining company with an emphasis on environmentally beneficial operations. It is privately held, operating in Natural Resources, and is based in New York.
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