With a big acquisition completed, Permian Basin pure-play Ring Energy Inc. expects to see its oil and natural gas volumes nearly double in 4Q2022 from the midpoint of guidance.

Ring Energy

The independent, headquartered in The Woodlands north of Houston, recently issued guidance to the end of the year. The company during 3Q2022 completed a $465 million takeover of privately held Stronghold Energy II Operating LLC and Stronghold Energy II Royalties LP. The transaction is set to double sales volumes to about 18,000-19,000 boe/d.

However, caution is the word heading into 2023, CEO Paul D. McKinney said.

“Because we anticipate commodity price volatility will continue into 2023, we are designing next year’s capital program with the flexibility to respond to the marketplace,” McKinney...