Company: REI
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038401
Chunk: 5

Company: RING ENERGY, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 5
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,903)(89,693)Deferred income tax expense (benefit)8,755,985 8,206,573 Excess tax expense (benefit) related to share-based compensation108,763 87,780 (Gain) loss on derivative contracts(13,719,264)20,843,094 Cash received (paid) for derivative settlements, net124,249 (4,056,012)Changes in operating assets and liabilities:Accounts receivable(2,373,460)(2,284,512)Inventory(1,336,734)360,537 Prepaid expenses and other assets(935,483)(747,575)Accounts payable(12,880,531)(9,313,631)Settlement of asset retirement obligation(571,271)(752,324)Net Cash Provided by Operating Activities61,668,259 95,807,099 Cash Flows From Investing ActivitiesPayments for the Lime Rock Acquisition(70,859,769)— Payments to purchase oil and natural gas properties(797,289)(622,862)Payments to develop oil and natural gas properties(49,256,881)(75,459,527)Payments to acquire or improve fixed assets subject to depreciation(169,661)(151,586)Proceeds from sale of fixed assets subject to depreciation17,360 10,605 Proceeds from sale of New Mexico properties— (144,398)Insurance proceeds received for damage to oil and natural gas properties99,913 — Net Cash Used in Investing Activities(120,966,327)(76,367,768)Cash Flows From Financing ActivitiesProceeds from revolving line of credit170,322,997 81,000,000 Payments on revolving line of credit(107,322,997)(99,000,000)Payments for taxes withheld on vested restricted shares, net(953,446)(901,976)Proceeds from notes payable1,648,539 1,501,507 Payments on notes payable(656,517)(679,446)Payment of deferred financing costs(5,381,602)(45,704)Reduction of financing lease liabilities(225,301)(431,284)Net Cash Provided by (Used in) Financing Activities57,431,673 (18,556,903)Net Increase (Decrease) in Cash(1,866,395)882,428 Cash at Beginning of Period1,866,395 296,