Ring Energy Announces Agreement to Acquire Stronghold''s Permian Basin Assets THE WOODLANDS, Texas, July 05, 2022 (GLOBE NEWSWIRE) -- Ring Energy, Inc. (NYSE: REI ) ("Ring" or the "Company") today announced it has entered into an agreement to acquire (the "Transaction") the assets of privately-held Stronghold Energy II Operating, LLC and Stronghold Energy II Royalties, LP (collectively, "Stronghold"). Stronghold''s operations are located primarily in Crane County, Texas and focused on the development of approximately 37,000 net acres in the Permian Basin''s Central Basin Platform ("CBP"). Stronghold is majority owned by Warburg Pincus, LLC, a leading growth investor ("Warburg Pincus"). Consideration for the Transaction, subject to customary closing adjustments, consists of: $200.0 million in cash at closing