Company: REI
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-023254
Chunk: 95

Company: RING ENERGY, INC.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 95
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,612 166,054 Ad valorem taxes1,532,108 2,145,631 Oil and natural gas production taxes3,584,455 4,428,303 Depreciation, depletion and amortization22,615,983 23,792,450 Asset retirement obligation accretion326,549 350,834 Operating lease expense175,091 175,091 General and administrative expense8,619,976 7,469,222 Total Costs and Operating Expenses56,735,326 56,888,019 Income from Operations22,355,881 37,615,117 Other Income (Expense)Interest income90,058 78,544 Interest (expense)(9,498,786)(11,498,944)Gain (loss) on derivative contracts(928,790)(19,014,495)Gain (loss) on disposal of assets124,610 38,355 Other income8,942 25,686 Net Other Income (Expense)(10,203,966)(30,370,854)Income (Loss) Before Benefit from (Provision for) Income Taxes12,151,915 7,244,263 Benefit from (Provision for) Income Taxes(3,041,177)(1,728,886)Net Income (Loss)$9,110,738 $5,515,377 Basic Earnings (Loss) per Share$0.05 $0.03 Diluted Earnings (Loss) per Share$0.05 $0.03 

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

7

Table of ContentsRING ENERGY, INC.CONDENSED STATEMENT OF STOCKHOLDERS’ EQUITY(Unaudited)

Common StockAdditionalPaid-inCapitalRetained Earnings(Accumulated Deficit)TotalStockholders'EquityFor the Three Months Ended March 31, 2025SharesAmountBalance, December 31, 2024198,561,378$198,561 $800,419,719 $58,021,702 $858,639,982 Restricted stock vested1,983,4651,983 (1,983)— — Shares to cover tax withholdings for restricted stock vested(488,596)(488)488 — — Payments to cover tax withholdings for restricted stock vested, net—— (