Ring Energy, Inc. Unaudited Pro Forma Condensed Combined Financial InformationPurchase Agreement • September 12th, 2022 • Ring Energy, Inc. • Crude petroleum & natural gas
On July 1, 2022, Ring Energy, Inc. (“Ring” or the “Company”), as buyer, and Stronghold Energy II Operating, LLC, a Delaware limited liability company (“Stronghold OpCo”) and Stronghold Energy II Royalties, LP, a Delaware limited partnership (“Stronghold RoyaltyCo”, together with Stronghold OpCo, collectively, “Stronghold”), as seller, entered into a purchase and sale agreement (the “Purchase Agreement”). Pursuant to the Purchase Agreement, Ring acquired (the “Stronghold Acquisition”) interests in oil and gas leases and related property of Stronghold consisting of approximately 37,000 net acres located in the Central Basin Platform of the Permian Basin of Texas. On August 31, 2022, Ring completed the Stronghold Acquisition pursuant to the Purchase Agreement.
