Company: REI
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038401
Chunk: 74

Company: RING ENERGY, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 74
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485 Costs and Operating ExpensesLease operating expenses20,245,981 19,309,017 39,923,533 37,669,451 Gathering, transportation and processing costs133,809 107,629 337,421 273,683 Ad valorem taxes1,648,647 1,337,276 3,180,755 3,482,907 Oil and natural gas production taxes3,832,607 3,627,264 7,417,062 8,055,567 Depreciation, depletion and amortization25,569,914 24,699,421 48,185,897 48,491,871 Asset retirement obligation accretion382,251 352,184 708,800 703,018 Operating lease expense175,090 175,090 350,181 350,181 General and administrative expense7,138,519 7,713,534 15,758,495 15,182,756 Total Costs and Operating Expenses59,126,818 57,321,415 115,862,144 114,209,434 Income from Operations23,475,941 41,817,934 45,831,822 79,433,051 Other Income (Expense)Interest income69,658 144,933 159,716 223,477 Interest (expense)(11,757,404)(10,946,127)(21,256,190)(22,445,071)Gain (loss) on derivative contracts14,648,054 (1,828,599)13,719,264 (20,843,094)Gain (loss) on disposal of assets155,293 51,338 279,903 89,693 Other income150,770 — 159,712 25,686 Net Other Income (Expense)3,266,371 (12,578,455)(6,937,595)(42,949,309)Income Before Provision for Income Taxes26,742,312 29,239,479 38,894,227 36,483,742 Provision for Income Taxes(6,107,425)(6,820,485)(9,148,602)(8,549,371)Net Income$20,634,887 $22,418,994 $29,745,625 $