Company: REI
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038401
Chunk: 4

Company: RING ENERGY, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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, 2023196,837,001$196,837 $795,834,675 $(9,448,612)$786,582,900 Restricted stock vested1,342,1121,342 (1,342)— — Shares to cover tax withholdings for restricted stock vested(244,911)(245)245 — — Payments to cover tax withholdings for restricted stock vested, net—— (814,985)— (814,985)Share-based compensation—— 1,723,832 — 1,723,832 Net income—— — 5,515,377 5,515,377 Balance, March 31, 2024197,934,202$197,934 $796,742,425 $(3,933,235)$793,007,124 Restricted stock vested303,797 304 (304)— — Shares to cover tax withholdings for restricted stock vested(71,702)(72)72 — — Payments to cover tax withholdings for restricted stock vested, net— — (86,991)— (86,991)Share-based compensation— — 2,077,778 — 2,077,778 Net income— — — 22,418,994 22,418,994 Balance, June 30, 2024198,166,297 $198,166 $798,732,980 $18,485,759 $817,416,905 

    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 Six Months EndedJune 30, 2025June 30, 2024Cash Flows From Operating ActivitiesNet income$29,745,625 $27,934,371 Adjustments to reconcile net income to net cash provided by operating activitiesDepreciation, depletion and amortization48,185,897 48,491,871 Asset retirement obligation accretion708,800 703,018 Amortization of deferred financing costs3,074,667 2,443,215 Share-based compensation3,042,797 3,801,610 Credit loss expense18,122 178,777 (Gain) loss on disposal of assets(279