Ring Energy, Inc. (REI) Rebounds from Lows and Increases Production
Oil and gas company stocks have taken a beating as oil prices have tumbled from a peak of over $100 in 2014 to around $50 a barrel today. This fall in prices crippled many exploration and production companies. Down from its peak of nearly $20 per share in 2014, Ring Energy, Inc. (NYSE MKT: REI) is still in a better position than most. Unlike other drillers, Ring Energy isn’t highly leveraged and has comparatively low production costs. Ring Energy has stated that it could operate profitably under $60 per barrel, and the majority of the company's crude production is based…