Earnings Call Summary | Ring Energy(REI.US) Q4 2023 Earnings Conference
Earnings Call Summary | Ring Energy(REI.US) Q4 2023 Earnings Conference
The following is a summary of the Ring Energy, Inc. (REI) Q4 2023 Earnings Call Transcript:
以下是环形能源公司（REI）2023年第四季度财报电话会议记录摘要：
Financial Performance:
财务业绩：
Ring Energy reported Q4 sales volumes of 19,400 barrels of oil equivalent (BOE) per day, at an overall realized pricing of $56.01 per BOE, down 4% from Q3.
Q4 revenue was $99.9 million, up 7% from Q3, and full-year revenue was $361 million, a 4% YoY increase.
Adjusted EBITDA for Q4 was a record $65.4 million, a 16% YoY increase.
Adjusted free cash flow for Q4 was also a record at $16.3 million, mainly due to increased revenue and reduced capital spending.
The company reported a net income of $50.9 million ($0.26 per diluted share) and an adjusted net income of $21.2 million ($0.11 per diluted share) in Q4.
Total reserves by year-end were 129.8 million barrels of oil equivalent.
Despite a cold front in early 2024 affecting production, the company maintains a positive outlook for the rest of the year.
Ring Energy报告称，第四季度日销售量为19,400桶石油当量（BOE），总体实现价格为每桶56.01美元，较第三季度下降4％。
第四季度收入为9,990万美元，较第三季度增长7％，全年收入为3.61亿美元，同比增长4％。
第四季度调整后的息税折旧摊销前利润达到创纪录的6,540万美元，同比增长16％。
第四季度调整后的自由现金流也创下了创纪录的1,630万美元，这主要是由于收入增加和资本支出减少。
该公司报告第四季度净收益为5,090万美元（摊薄每股收益0.26美元），调整后净收益为2,120万美元（摊薄每股收益0.11美元）。
截至年底，总储量为1.298亿桶石油当量。
尽管2024年初的冷锋影响了生产，但该公司在今年余下的时间里仍保持乐观的前景。
Business Progress:
业务进展：
Ring Energy successfully integrated acquisitions from Stronghold Energy II and Founders, significantly contributing to growth in 2023.
The company recorded significant increases in its undeveloped inventory of economic drilling locations post-acquisitions.
In 2024, the company plans an average of eleven new wells per quarter, and further, evaluates acquisition opportunities.
The company also reduced average operating costs through the successful divestiture of non-core assets.
A top focus going into 2024 is debt reduction, which has already seen $30 million paid off since mid-August 2023.
Strategically, Ring Energy aims to maintain or slightly grow production levels and continue to grow crude oil sales while reducing debt in 2024.
Ring Energy成功整合了对Stronghold Energy II和Founders的收购，为2023年的增长做出了
收购后，该公司未开发的经济钻探地点库存大幅增加。
2024年，该公司计划平均每季度新建11口井，并进一步评估收购机会。
该公司还通过成功剥离非核心资产降低了平均运营成本。
进入2024年的首要重点是债务减免，自2023年8月中旬以来，债务减免已经偿还了3000万美元。
从战略上讲，Ring Energy的目标是维持或略微提高产量水平，并在2024年减少债务的同时继续增长原油销售。
More details: Ring Energy IR
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译文内容由第三方软件翻译。