Ring Energy Inc. is off to a strong start to the year, drilling six Permian Basin wells during the first quarter and placing four new wells into production, the independent exploration and production (E&P) company reported.

Ring

“Our operations teams continue to perform efficiently and effectively maintaining our base production and bringing on new development wells ahead of schedule,” CEO Paul D. McKinney said in a 1Q2022 operations update on Tuesday.

The E&P drilled four wells in the Permian’s Central Basin Platform (CBP) and another two in the Northwest Shelf (NWS) reservoir. The four CBP wells brought into production during the quarter were double the number it had projected would ramp up in mid-March.

Ring during the quarter reported 85% oil-weighted sales volumes of...