Company: REI
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0001628280-25-010585
Chunk: 6

Company: RING ENERGY, INC.
Filing Date: 2025-03-05
Form: 10-K
Item: Item 7
Chunk 6
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,459,840 Natural gas (Mcf)6,423,674 6,339,158 4,088,642 Natural gas liquids (Bbls)1,258,814 976,852 371,329 Net sales:Oil$363,971,394 $349,044,863 $321,062,672 Natural gas(9,265,335)334,175 18,693,631 Natural gas liquids11,621,355 11,676,963 7,493,234 Average sales price:Oil (per Bbl)$74.87 $76.21 $92.80 Natural gas (per Mcf)(1.44)0.05 4.57 Natural gas liquids (Bbl)9.23 11.95 20.18 Production costs and expenses:Lease operating expenses$78,310,949 $70,158,227 $47,695,351 Gathering, transportation and processing costs506,333 457,573 1,830,024 Ad valorem taxes8,069,064 6,757,841 4,670,617 Oil and natural gas production taxes16,116,565 18,135,336 17,125,982 Other costs and operating expenses:Depreciation, depletion and amortization$98,702,843 $88,610,291 $55,740,767 Asset retirement obligation accretion1,380,298 1,425,686 983,432 Operating lease expense700,362 541,801 363,908 General and administrative expense ("G&A")29,640,300 29,188,755 27,095,323 Share-based compensation5,506,017 8,833,425 7,162,231 G&A excluding share-based compensation24,134,283 20,355,330 19,933,092 Other income (expense):Interest income$491,946 $257,155 $4 Interest (expense)(43,311,810)(43,926,732)(23,167,729)Gain (loss) on derivative contracts(2,365,917)2,767,162 (21,532,659)Gain (loss) on disposal of assets89,693 (87,128)— Other income106,656 198