Company: REI
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0001628280-25-010585
Chunk: 164

Company: RING ENERGY, INC.
Filing Date: 2025-03-05
Form: 10-K
Item: Item 8
Chunk 164
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)21,532,659 Cash received (paid) for derivative settlements, net(5,193,673)(9,084,920)(62,525,954)Changes in operating assets and liabilities:Accounts receivable3,594,504 1,154,085 (17,214,150)Inventory2,089,116 3,113,782 (5,597,845)Prepaid expenses and other assets93,509 226,688 (1,163,509)Accounts payable(5,076,738)(1,451,422)50,808,461 Asset retirement obligation(1,588,480)(1,862,385)(2,741,380)Net Cash Provided by Operating Activities194,423,712 198,170,459 196,976,729 Cash Flows From Investing ActivitiesPayments for the Stronghold Acquisition— (18,511,170)(177,823,787)Payments for the Founders Acquisition— (62,227,145)— Payments to purchase oil and natural gas properties(2,210,826)(2,162,585)(1,563,703)Payments to develop oil and natural gas properties(153,945,456)(152,559,314)(129,332,155)Payments to acquire or improve fixed assets subject to depreciation(185,524)(492,317)(319,945)Proceeds from sale of fixed assets subject to depreciation10,605 332,229 134,600 Proceeds from divestiture of oil and natural gas properties121,232 1,554,558 23,700 Proceeds from sale of Delaware properties— 7,600,699 — Proceeds from sale of New Mexico properties(144,398)3,891,757 — Proceeds from sale of CBP vertical wells5,500,000 — — Net Cash Used in Investing Activities(150,854,367)(222,573,288)(308,881,290)Cash Flows From Financing ActivitiesProceeds from revolving line of credit130,000,000 225,000,000 636,000,000 Payments on revolving line of credit(170,000,000)(215,000,000)(511,000,000)Proceeds from issuance of common stock and warrants— 12,301,596 8,203,126 Payments for taxes withheld on vested restricted shares, net