# Ring Energy Targets 21,000-23,000 BOE/d on $135 Million-$165 Million Plan By John Kim Canonical URL: https://www.tokenpost.com/news/business/51705 Published: 2026-11-08T17:06:34.000Z Updated: 2026-11-08T17:06:34.000Z Section: Business > The company expects about 10% production growth, with longer, co-developed laterals expected to increase output per capital dollar. Ring Energy's 2027 plan calls for daily production of 21,000 to 23,000 barrels of oil equivalent per day (boe/d), with $135 million to $165 million budgeted for capital projects. The company is targeting production growth of about 10%. Ring expects its capital spending to remain close to the previous program or come in slightly lower. It expects longer, co-developed laterals to increase the production generated by each capital dollar. Ring expects lower capital spending in the fourth quarter of 2026 to support free cash flow and expects positive free cash flow for the full year. About 59% of its oil volumes for the first half of 2027 are hedged. Additional downside protection is intended to help keep free cash flow positive if West Texas Intermediate crude is $65 a barrel. Ring's leverage is about 1.5x. The company aims to bring it below 1.25x, with a longer-term target below 1x. The outlook follows Ring's [third-quarter report](), which showed revenue of $102.3 million, up 30% from a year earlier, and a net loss of $16.6 million. ## Links in this article - [third-quarter report](https://www.tokenpost.com/news/business/50846)