REI News & Events

Ring Energy "announced that Mr. Sundip "Sonu" Singh Johl will be joining the Company as its Executive Vice President, Chief Financial Officer and Treasurer effective February 27, 2026. Mr. Johl brings more than 20 years of experience across upstream oil and gas investment banking, corporate finance, and strategic advisory roles, with deep expertise in mergers and acquisitions, capital markets, valuation, and financial strategy. From 2020 through January 2026, Mr. Johl was Managing Director, Co-Head of Energy Investment Banking at Raymond James & Associates, Inc., where he advised public and private E&P companies doing business in the Permian Basin as well as other major U.S. onshore basins.

Ring Energy announced that its CFO, Travis Thomas, has resigned effective immediately to pursue other opportunities. Thomas' resignation was not a result of any disagreement between the company and Thomas on any financial or other matter related to the operations, policies, or practices of the company. Rocky Kwon, the company's Vice President of Accounting, Controller and Assistant Treasurer, has been appointed Interim CFO while the company conducts a search for a new CFO. Kwon, an experienced financial leader, has been with Ring since 2021. He is a Certified Public Accountant and Chartered Global Management Accountant and brings deep institutional knowledge and extensive expertise to the role. Prior to joining Ring, Kwon held financial leadership positions at Earthstone Energy and The AES Corporation.

Ring Energy reported its debt reduction target for the third quarter of 2025 and the change in ownership status of a previous large stockholder. Ring Energy has established a debt reduction target of approximately $18M for the third quarter of 2025. The company anticipates it will have approximately $430M in borrowings outstanding on its credit facility as of September 30, 2025, down from $448M in borrowings outstanding as of June 30, 2025. The company further commented that Warburg Pincus has recently exited its full common equity position in Ring.