Company: REI
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038401
Chunk: 164

Company: RING ENERGY, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 2
Chunk 164
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 was outstanding on our Credit Facility and we were in compliance with all of the covenants under the Credit Facility. The Credit Facility matures in June 2029. The borrowing base under our Credit Facility is $585 million. The borrowing base is redetermined semi-annually each May and November. See "NOTE 8 — REVOLVING LINE OF CREDIT" in the Notes to the condensed financial statements for more information on our Credit Facility.

Derivative Financial Instruments

The following table reflects the contracts outstanding as of June 30, 2025 (quantities are in barrels (Bbl) for the oil derivative contracts and in million British thermal units (MMBtu) for the natural gas derivative contracts):

Oil Hedges (WTI)Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026Q4 2026Q1 2027Q2 2027Swaps:Hedged volume (Bbl)471,917 241,755 608,350 577,101 171,400 529,000 509,500 492,000 Weighted average swap price$68.64 $65.56 $67.95 $67.41 $62.26 $65.34 $62.82 $60.45 Two-way collars:Hedged volume (Bbl)225,400 404,800 — — 379,685 — — — Weighted average put price$65.00 $60.00 $— $— $60.00 $— $— $— Weighted average call price$78.91 $75.68 $— $— $72.50 $— $— $— 

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Gas Hedges (Henry Hub)Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026Q4 2026Q1 2027Q2 2027NYMEX Swaps:Hedged volume (MMBtu)300,500 128,400 140,600 662,300 121,400 613,300 — — Weighted average swap price$3.88 $4.25 $4.20 $3.54 $4.22 $3.83 $—