Ring Energy intends to price public sale of 5 million common shares

Offering funds drilling, development, debt repayment and acquisitions

By Devika Patel

Knoxville, Tenn., Dec. 2 - Ring Energy, Inc. said it will price a public offering of 5 million common shares with a 30-day greenshoe of 750,000 additional shares.

SunTrust Robinson Humphrey, Inc. is the bookrunner.

Proceeds will be used for drilling and development of properties, to pay for additional leases of oil and gas properties, to pay down debt under the company's credit facility and to pay for acquisitions of oil and gas properties.

Ring Energy is an oil and gas company based in Redlands, Calif.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.