Company: REI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001384195-25-000018
Chunk: 7

Company: RING ENERGY, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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 Cash paid (refunded) for income taxes347,487 72,213 Noncash Investing and Financing ActivitiesAsset retirement obligation incurred during development$77,323 $505,721 Asset retirement obligation acquired2,721,571 — Asset retirement obligation sold(65,129)(3,219,651)Financing lease assets obtained in exchange for new financing lease liability, net (1)453,829 341,218 Change in capitalized expenditures attributable to drilling projects financed through current liabilities2,097,669 (4,034,975)Lime Rock Acquisition Supplemental ScheduleInvesting Activities - Cash PaidCash paid to Lime Rock on closing$63,599,939 $— Escrow deposit released at closing5,000,000 — Direct transaction costs2,576,648 — Cash paid for fixed assets acquired(34,275)— Purchase price adjustments paid to third parties1,427,233 — Payments for the Lime Rock Acquisition$72,569,545 $— Investing Activities - NoncashAssumption of suspense liability$459,096 $— Assumption of ad valorem tax liability405,549 — Assumption of asset retirement obligation2,587,179 — Deferred cash payment at fair value9,415,066 — Financing Activities - NoncashCommon stock issued for acquisition$7,420,811 $— 

(1) Included within the financing lease assets obtained in exchange for new financing lease liability, net is  $96,820 of finance lease asset terminations for the nine months ended September 30, 2025. For the nine months ended September 30, 2024, the Company had $45,436 in finance lease asset terminations.

The accompanying notes are an integral part of these unaudited condensed financial statements.

11

Table of Contents

RING ENERGY, INC.

NOTES TO CONDENSED FINANCIAL STATEMENTS

(UNAUDITED)

Index to the Notes to the Condensed Financial StatementsNote 1 — Basis of Presentation & Significant Accounting PoliciesNote 8 — Revolving Line of CreditNote 2 — Revenue RecognitionNote 9 — Asset Retirement ObligationNote 3 — LeasesNote 10 — Stockholders' EquityNote 4 — Earnings (Loss) Per Share InformationNote 11 — Employee Stock Options and Restricted Stock UnitsNote 5 — Acquisitions and DivestituresNote 12 — Commitments and Cont