Company: REI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001384195-25-000018
Chunk: 107

Company: RING ENERGY, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 107
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 (MMBtu)495,500 694,500 139,000 648,728 128,000 717,000 694,000 — Weighted average put price$3.10 $3.50 $3.50 $3.10 $3.50 $3.99 $3.00 $— Weighted average call price$4.40 $5.11 $5.42 $4.24 $5.42 $5.21 $4.32 $— Oil Hedges (basis differential)Q4 2025Q1 2026Q2 2026Q3 2026Q4 2026Q1 2027Q2 2027Q3 2027Argus basis swaps:Hedged volume (Bbl)183,000 — — — — — — — Weighted average spread price (1)$1.00 $— $— $— $— $— $— $— Gas Hedges (basis differential)Q4 2025Q1 2026Q2 2026Q3 2026Q4 2026Q1 2027Q2 2027Q3 2027El Paso Permian Basin basis swaps:Hedged volume (MMBtu)363,200 — — — — 700,000 — — Weighted average spread price (2)$1.69 $— $— $— $— $0.74 $— $— (1) The oil basis swap hedges are calculated as the fixed price (weighted average spread price above) less the difference between WTI Midland and WTI Cushing, in the issue of Argus Americas Crude. 

(2) The gas basis swap hedges are calculated as the Henry Hub natural gas price less the fixed amount specified as the weighted average spread price above. 

26

NOTE 7 — FAIR VALUE MEASUREMENTSFair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The authoritative guidance requires disclosure of the framework for measuring fair value and requires that fair value measurements be classified and disclosed in one of the following categories:Level 1:Unadjusted quoted prices