Ring Energy Inc
0.0 %
-2.16 %
Yet to be announced
Company Overview
Ring Energy Inc is an oil and natural gas exploration and production company based in The Woodlands, Texas. The company focuses on acquiring, exploring, developing, and producing oil and natural gas in Texas and New Mexico. Their operations are primarily concentrated in the Permian Basin region.
Revenue Sources
Based on review of Ring Energy's SEC filings and financial statements, the company's revenue is derived from oil and natural gas exploration and production activities. These activities involve the extraction and sale of natural resources, which are considered halal business activities. The company does not generate revenue from prohibited sources like alcohol, gambling, or other haram activities.
Reliance on Interest
| Reporting Date | Total Revenue | Total Expense | Interest Income | Interest Expense | Interest Income Ratio | Interest Expense Ratio |
|---|---|---|---|---|---|---|
| Sept. 30, 2024 | $89.24m | $70.15m | - | $10.75m | 0.00% | 15.33% |
| June 30, 2024 | $99.14m | $68.27m | - | $10.95m | 0.00% | 16.03% |
| March 31, 2024 | $94.5m | $68.39m | - | $11.5m | 0.00% | 16.81% |
| Dec. 31, 2023 | $99.94m | $70.74m | - | $11.6m | 0.00% | 16.40% |
Analyzing the last four quarters of financial data shows that interest expenses represent a significant portion of total expenses. The interest expense to total expense ratios consistently exceed the 5% threshold we use to determine materiality. The company relies heavily on interest-bearing debt to finance its operations, making interest a material part of its business model.
Operational Ethics
Based on review of company documents and public information, there is no evidence of significant ongoing associations with entities involved in human rights violations. The company's operations are concentrated in Texas and New Mexico, with no indication of business ties to Israel or the Chinese Communist Party.
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