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December 7, 2021

Permian Basin Unconventional (Ring Energy,Inc.) TX Unconventional Oil Field, US

By Carmen

Permian Basin Unconventional (Ring Energy,Inc.) TX is a producing unconventional oil field located onshore the US and is operated by Ring Energy.

Field participation details

The field is owned by Ring Energy.


Production from Permian Basin Unconventional (Ring Energy,Inc.) TX

The Permian Basin Unconventional (Ring Energy,Inc.) TX unconventional oil field recovered 4.79% of its total recoverable reserves, with peak production expected in 2030. The peak production will approximately 4.72 thousand bpd of crude oil and condensate and 10 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2047.


Remaining recoverable reserves

The field is expected to recover 27.59 Mmboe, comprised of 20.54 Mmbbl of crude oil & condensate and 42.3 bcf of natural gas reserves. Permian Basin Unconventional (Ring Energy,Inc.) TX unconventional oil field reserves accounts 0.03% of total remaining reserves of producing unconventional oil fields globally.


About Ring Energy

Ring Energy Inc (Ring Energy) is an exploration company that offers acquisition, development and production of oil and gas properties. The company primary drilling operation targets the central basin platform in andrews county and ganies county, texas, and the delaware basin in reeves county and cukberson county, texas. It markets its oil and natural gas production to end user, marketers and others purchasers which have access to nearby pipeline facilities. Ring Energy offers production in the ring had 53,582 gross acres in Andrews and Gaines counties and 20,794 gross acres in Reeves and Culberson counties. The company operates in the US. Ring Energy is headquartered in Midland, Texas, the US.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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