Ring Energy (REI) said Tuesday it completed the acquisition of the Central Basin Platform assets of Lime Rock Resources.
The company said the assets, located in the Permian Basin in Andrews County, Texas, cover about 17,700 net acres, with most of the acreage similar to Ring's existing Central Basin Platform assets in the Shafter Lake area.
The total purchase price, after preliminary adjustments, includes a cash payment of about $63.6 million, a $10 million deferred cash payment due on Dec. 31, 2025, and the issuance of about 6.5 million shares of common stock, the company said.
The acquisition is expected to be accretive to key financial and operating metrics on a per-share basis, Ring Energy said.
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