Company: REI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001384195-25-000018
Chunk: 47

Company: RING ENERGY, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 47
---
57,984,733)Gathering, transportation and processing costs(376,103)— (376,103)Ad valorem taxes(5,647,469)— (5,647,469)Oil and natural gas production taxes(12,259,418)— (12,259,418)Depreciation, depletion and amortization (3)— (74,153,994)(74,153,994)Ceiling test impairment (3)— — — Asset retirement obligation accretion— (1,057,213)(1,057,213)Operating lease expense— (525,272)(525,272)General and administrative expense— (21,604,323)(21,604,323)Interest income— 367,181 367,181 Interest (expense)— (33,199,314)(33,199,314)Gain (loss) on derivative contracts— 3,888,531 3,888,531 Gain (loss) on disposal of assets— 89,693 89,693 Other income— 25,686 25,686 Income (Loss) Before Benefit from (Provision for) Income Taxes$206,619,145 $(126,169,025)$80,450,120 Total Assets (3)$1,367,833,052 $31,931,958 $1,399,765,010 Capital expenditures$114,313,003 $— $114,313,003 (3) All of the Company's assets are located within the United States. As the CODM does not view depreciation, depletion and amortization or ceiling test impairment as a significant Exploration and Production segment expense, the Company has included these amounts within the Corporate column of the reconciliation table.

The following table discloses the purchasers from which 10% or more of revenues were derived in the years noted.For the Three Months Ended September 30,For the Nine Months Ended September 30,2025202420252024Purchasers with 10% or more percentage of total revenue (4)Phillips 66 Company ("Phillips")67%62%66%61%Concord Energy LLC12%14%13%14%LPC Crude III, LLC*14%*13%NGL Crude Partners ("NGL Crude")*10%*10%Energy Transfer Crude Marketing12%***(4) All the Company's purchasers