Ring Energy is worth watching in the Permian Basin. A combination of a large producing-well portfolio, increased drilling activity in Crane County and a new air permit for the Havara 400 Gas Battery suggests the company is investing not only in new wells, but also in the production infrastructure required to support them.
For oilfield service companies, this is the type of activity that can signal opportunities extending from drilling and completions through facilities, artificial lift, automation and long-term production optimization.
Ring Energy Overview
Ring Energy, Inc. (NYSE American: REI) is an independent exploration and production company focused on the Permian Basin, primarily the Central Basin Platform (CBP) and Northwest Shelf (NWS).
At year-end 2025, Ring reported interests in approximately 919 gross producing wells (758 net) and approximately 96,234 net acres. The company produced an average of approximately 20,253 BOE per day during 2025, with production weighted toward oil.
The Central Basin Platform represents the largest portion of Ring’s producing footprint, including operations in Andrews, Crane, Ector, Gaines, Ward and Winkler counties.
Ring’s strategy is particularly interesting because it isn’t dependent solely on large-scale new drilling programs. Its extensive mature well inventory creates opportunities to combine selective drilling with recompletions, reactivations, workovers and production optimization.
At year-end 2025, Ring identified approximately 238 recompletion and reactivation opportunities in addition to its proved undeveloped drilling inventory.
That makes Ring relevant to a much broader range of OFS companies than its rig count alone might suggest.
Crane County Activity Is Increasing
One area that stands out is Crane County, Texas.
Our review of Ring Energy well and permit data identified 41 Crane County records, with 22 showing an Activity Date.
More importantly, activity has accelerated:
Activity Year Crane County Records 2024 6 2025 3 2026 12 Earlier 1 Total with Activity Date 22
Of the 12 records showing 2026 activity, 10 are horizontal wells.
The recent activity includes development associated with the Lea and Sand Hills fields, with targeted intervals including Wolfcamp, Judkins, McKnight and Tubb, among others.
This is an important sales signal.
Rather than viewing Ring’s Crane County position simply as a collection of mature Permian wells requiring routine maintenance, the recent data indicates new development activity is occurring alongside the existing production base.
A New Gas Battery Adds Another Signal
The drilling activity becomes even more interesting when combined with Ring Energy’s latest air permitting activity.
On August 11, 2026, Ring Energy submitted a new Texas air permit registration for the:
Havara 400 Gas Battery
The application provides several useful details:
Permit Detail Information Operator Ring Energy, Inc. Project Havara 400 Gas Battery Project # 413236 Permit # 184966 County Crane County Area Block B21 Location Near Penwell, Texas Application PBR New Registration Received August 11, 2026 Status Pending TCEQ Region Region 07 – Midland
The distinction that matters is “PBR New Registration.”
This is a new production-facility registration rather than simply the renewal of an existing authorization.
The application covers rules associated with oil and gas production facilities, flares, and routine facility maintenance/startup/shutdown.
A gas battery can provide the surface infrastructure necessary to receive and process production from wells, separate produced streams, handle storage and associated gas, and connect production into downstream infrastructure.
That means the permit potentially provides another piece of the development puzzle.
Wells + Facilities = A Stronger Sales Signal
A well permit tells us where an operator may drill.
An Activity Date helps identify where development is actually progressing.
A new facility permit can provide another signal of where the operator may be preparing to bring production online and support a broader development area.
In Ring’s case, we now have three useful indicators:
- A large existing Crane County production footprint
- An increase in 2026 well activity, particularly horizontal wells
- A new air permit for the Havara 400 Gas Battery in Block B21
Taken together, these indicators suggest Ring’s Crane County activity deserves closer attention from OFS sales teams.
The next step should be to map the Block B21 facility against Ring’s recent Crane County wells and leases. If the Havara 400 Gas Battery can be associated with a cluster of recent wells, it could help identify the specific development area Ring is building out.
OFS Sales Strategy: Follow the Development Cycle
The opportunity with Ring Energy shouldn’t be approached as a generic operator prospect.
The better strategy is to determine where Ring is in the development cycle and align the sales approach accordingly.
1. Drilling & Completion Companies — Follow the Horizontal Wells
With 10 horizontal records showing 2026 activity in Crane County, companies supporting drilling and completions should identify the specific leases, fields and development clusters behind that activity.
Potential opportunities include:
- Directional drilling
- Drilling fluids
- Cementing
- Completion equipment
- Pressure pumping
- Wireline
- Downhole tools
- Water management
- Wellsite services
The sales message should focus on supporting Ring’s current Crane County development program, rather than pitching services across its entire Permian portfolio.
2. Facility & Infrastructure Companies — Follow the Havara 400 Gas Battery
The new air permit creates a different set of opportunities.
Companies involved with production facilities should investigate the Havara project for potential requirements around:
- Separators
- Production tanks
- Flowlines
- Gathering
- Compression
- Vapor recovery
- Flares and emissions control
- Instrumentation
- Electrical
- Measurement
- SCADA and automation
- Water handling
Because the permit is currently pending, the project represents an especially useful trigger for business-development teams.
The objective is to identify who is responsible for facility engineering, construction, production operations and procurement before the facility becomes fully operational.
3. Production Service Companies — Follow the Wells After First Production
The opportunity doesn’t end when drilling is completed.
Once these wells transition to production, the sales opportunity shifts toward maintaining uptime and maximizing recovery.
That creates potential demand for:
- Artificial lift
- Production chemicals
- Pumping-unit services
- Well servicing
- Workovers
- Compression
- Paraffin control
- Automation
- Remote monitoring
- Production optimization
This fits particularly well with Ring’s broader asset base because the company already operates hundreds of mature Permian wells.
A service company that enters the account through new Crane County development may ultimately have an opportunity to expand into Ring’s much larger existing production portfolio.
The Bigger Opportunity: Land and Expand
Ring Energy is a good example of why OFS sales teams should look beyond rig counts.
The company has approximately 919 gross producing wells, an active drilling program, a substantial inventory of recompletion/reactivation opportunities and now signs of additional production infrastructure investment in Crane County.
For an OFS salesperson, the strategy should be:
Use the new Crane County development as the entry point, establish value during drilling or facility construction, and then expand the relationship into Ring’s larger producing-well portfolio.
That creates three potential revenue stages:
New wells → New facilities → Long-term production optimization
For companies selling artificial lift, chemicals, automation, compression, well servicing and other production technologies, the third stage could ultimately represent the largest opportunity.
Bottom Line
Ring Energy should be classified as an active Next Tier account for OFS sales teams. Its approximately 919-well producing portfolio provides a substantial existing service market, while the increase in Crane County horizontal activity demonstrates that Ring continues to invest in new development.
The Havara 400 Gas Battery air permit in Block B21 adds another important signal, suggesting production infrastructure is being added alongside recent well activity. OFS companies should use the combination of well activity, facility permitting and Ring’s existing production base to identify opportunities early and position themselves across the entire well lifecycle—from drilling and completion through facilities, artificial lift, maintenance and production optimization.
Author: phinds