Ring Energy posts $162M impairment on weak gas prices; extends credit facility to 2029

Filed May 6, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 7, 2025 · ~1 min read

Key Changes

• high

  $162M non-cash ceiling test impairment in Q1 2026 driven by lower twelve-month average commodity prices. Management warns additional impairments possible if market conditions persist.

  MD&A: Ceiling Test Impairment verify on EDGAR →
• high

  Natural gas pricing collapsed to negative $2.54/Mcf from negative $0.19/Mcf year-over-year. Company now pays buyers to take gas as processing fees exceed sales prices due to regional takeaway constraints.

  MD&A: Natural Gas Pricing verify on EDGAR →
• high

  Credit facility extended from August 2026 to June 2029, eliminating near-term refinancing risk. Borrowing base reduced $15M to $585M; outstanding debt paid down $34M to $426M.

  MD&A: Credit Facility verify on EDGAR →