Ring Energy Inc. relocated its corporate headquarters to The Woodlands, Tex., in the greater Houston area, effective Jan. 19.
The Permian basin focused company closed its Andrews, Tex., field office, downsized its Midland office, and will close its Tulsa, Okla., office at the end of first-quarter 2021.
The company says the moves consolidate the executive management team, relocate all accounting functions into The Woodlands office, and will result in a 15% annualized office-related general and administrative cost savings.