Company: REI
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0001628280-25-010585
Chunk: 46

Company: RING ENERGY, INC.
Filing Date: 2025-03-05
Form: 10-K
Item: Item 7A
Chunk 46
---
June 20259,684 7,350 July 20259,333 6,987 August 20259,203 6,863 September 20259,290 6,970 October 20258,977 6,632 November 20259,071 6,743 December 20258,779 6,500 January 20265,211 6,327 February 20265,681 6,904 March 20265,056 6,150 April 20265,150 6,257 May 20264,914 5,971 June 20265,010 6,083 July 20264,781 5,809 August 20264,721 5,732 September 20264,817 5,846 October 20264,603 5,584 November 20264,700 5,703 December 20264,494 5,455 

Customer Credit Risk

Our principal exposure to credit risk is through receivables from the sale of our oil and natural gas production (approximately $33.8 million as of December 31, 2024). We are subject to credit risk due to the concentration of our oil and natural gas receivables with our most significant customers, or purchasers. We do not require our purchasers to post collateral, and the inability of our significant purchasers to meet their obligations to us or their insolvency or liquidation may adversely affect our financial results. The following table sets forth certain information regarding the top three purchasers of our oil, natural gas, and NGLs for the year ended December 31, 2024. We believe that the loss of any of these purchasers would not materially impact our business because we could readily find other purchasers for our oil and natural gas.

61

Table of Contents

For the Year EndedAs ofDecember 31, 2024December 31, 2024Percentage of Oil, Natural Gas, and Natural Gas Liquids RevenuesPercentage of accounts receivables from the sale of our oil and natural gas productionPurchaser:Phillips 66 Company ("Phillips")61%64%Concord Energy LLC ("Concord")14%11%LPC Crude III, LLC ("LPC")13%11%

Interest Rate Risk

We are subject to market risk exposure related to changes in interest rates on our indebtedness under our Credit Facility, which bears variable