Company: REI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001384195-25-000018
Chunk: 129

Company: RING ENERGY, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 129
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 conditions. Specifically, the gross realized price per NGL barrel was $17.52 and the average fees per barrel was $(12.30), resulting in a net realized price of $5.22 for the three months ended September 30, 2025, while the gross realized price per NGL barrel was $18.45 and the average fees per barrel was $(10.79), resulting in a net realized price of $7.66 for the same period in 2024.

43

Oil, Natural Gas, and Natural Gas Liquids Revenues for the Nine Months Ended September 30, 2025 and 2024

For the Nine Months EndedSeptember 30, 2025September 30, 2024Change% ChangeNet sales:Oil$238,168,279 $282,000,446 $(43,832,167)(16)%Natural gas(4,794,987)(7,650,645)2,855,658 37 %Natural gas liquids6,922,010 8,537,067 (1,615,057)(19)%Total sales$240,295,302 $282,886,868 $(42,591,566)(15)%Net production:Oil (Bbls)3,633,739 3,673,356 (39,617)(1)%Natural gas (Mcf)5,172,603 4,739,881 432,722 9 %Natural gas liquids (Bbls)1,009,881 919,225 90,656 10 %Total production (Boe)(1)5,505,721 5,382,561 123,160 2 %Average sales price:Oil (per Bbl)$65.54 $76.77 $(11.23)(15)%Natural gas (per Mcf)(0.93)(1.61)0.68 42 %Natural gas liquids (Bbl)6.85 9.29 (2.44)(26)%Total per Boe$43.64 $52.56 $(8.92)(17)%

(1) Boe is calculated using six Mcf of natural gas as the equivalent of one barrel of oil.

Oil sales. Oil sales decreased approximately $43.8 million from $282.0 million to $238.2 million, with a price variance of $(40.8) million from a decrease in