REI Appoints New CFO as Part of Strategic Debt-Reduction Plan

Ring Energy (REI) announced the appointment of Sundip 'Sonu' Singh Johl as Executive Vice President, Chief Financial Officer, and Treasurer, effective February 27, 2026.

• Johl's background includes over 20 years of experience in upstream energy investment banking, corporate finance, and M&A, with prior roles at Raymond James, UBS, and Citi.

• The appointment follows recent management changes, including the resignation of former CFO Travis T. Thomas, and comes amid ongoing efforts to reduce debt and strengthen the balance sheet.

Johl's extensive experience in capital markets and corporate finance is expected to support Ring Energy's strategic goals, particularly around leveraging growth and managing capital discipline.

His prior roles at major investment banks included advising energy producers on capital structure, M&A, and strategic transactions.

Ring Energy's CEO, Paul D. McKinney, emphasized that Johl's expertise will help advance the company's financial strategies, especially as it navigates oil price volatility and executes its 2026 capital plans.

What are REI's recent financial and operational updates?

Ring Energy reported mixed third-quarter 2025 results, with a GAAP net loss of $51.6 million driven by a $72.9 million non-cash ceiling test impairment.

However, the company generated $13.9 million in Adjusted Free Cash Flow and paid down $20 million in debt, ending the quarter with $157.3 million in liquidity.

Production for Q3 2025 included oil sales of 13,332 Bo/d and total production of 20,789 Boe/d.

What is REI's capital and production guidance for 2025 and 2026?

The company updated its 2025 guidance to include a capital budget midpoint of $97 million and oil production of approximately 13,300 Bo/d.

Ring Energy reaffirmed its borrowing base at $585 million under its $1.0 billion senior revolving credit facility, with the next redetermination scheduled for spring 2026.

Management emphasized a focus on debt reduction, production maintenance, and cost discipline for 2026.

The appointment of Johl comes at a key inflection point for Ring Energy as it seeks to reduce leverage while managing production and capital expenditures.

His experience in energy M&A and capital structure optimization is expected to support strategic initiatives, including leveraging the company's asset base for long-term growth.