Company: REI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001384195-25-000018
Chunk: 80

Company: RING ENERGY, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 80
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,166,297 $198,166 $798,732,980 $18,485,759 $817,416,905 Restricted stock vested39,442 39 (39)— — Shares to cover tax withholdings for restricted stock vested(9,705)(9)9 — — Payments to cover tax withholdings for restricted stock vested, net— — (17,273)— (17,273)Share-based compensation— — 32,087 — 32,087 Net income— — — 33,878,424 33,878,424 Balance, September 30, 2024198,196,034 $198,196 $798,747,764 $52,364,183 $851,310,143 

    The accompanying notes are an integral part of these unaudited condensed financial statements.

9

Table of ContentsRING ENERGY, INC.CONDENSED STATEMENTS OF CASH FLOWS(Unaudited)

For the Nine Months EndedSeptember 30, 2025September 30, 2024Cash Flows From Operating ActivitiesNet income (loss)$(21,885,905)$61,812,795 Adjustments to reconcile net income (loss) to net cash provided by operating activitiesDepreciation, depletion and amortization73,411,242 74,153,994 Ceiling test impairment72,912,330 — Asset retirement obligation accretion1,099,363 1,057,213 Amortization of deferred financing costs3,768,292 3,670,096 Share-based compensation4,661,397 3,833,697 Credit loss expense19,029 187,594 (Gain) loss on disposal of assets(385,545)(89,693)Deferred income tax expense (benefit)(4,208,267)18,212,075 Excess tax expense (benefit) related to share-based compensation232,296 95,333 (Gain) loss on derivative contracts(14,163,569)(3,888,531)Cash received (paid) for derivative settlements, net2,710,479 (5,938,777)Changes in operating assets and liabilities:Accounts receivable2,299,483 3,245,030 Inventory(937,541)1,508,955 Prepaid expenses and other