Company: REI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001384195-25-000018
Chunk: 142

Company: RING ENERGY, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 142
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)$12,558,220 $(9,637,849)$22,196,069 230 %Current state income tax provision(39,816)(74,899)35,083 47 %Deferred state income tax benefit (provision)282,543 (375,206)657,749 175 %Benefit from (Provision for) Income Taxes$12,800,947 $(10,087,954)$22,888,901 227 %

Provision for income taxes. The provision for income taxes changed from a provision of $10.1 million for the three months ended September 30, 2024 to a benefit of $12.8 million for the three months ended September 30, 2025. The provision for income taxes was calculated using the annual effective tax rate method based on our estimated earnings and estimated state and federal income taxes due for 2025, taking into account all applicable tax rates and laws.

Benefit from (Provision for) Income Taxes: for the Nine Months Ended September 30, 2025 and 2024

For the Nine Months EndedSeptember 30, 2025September 30, 2024Change% ChangeBenefit from (Provision for) Income Taxes:Deferred federal income tax benefit (provision)$3,965,817 $(17,617,436)$21,583,253 123 %Current state income tax provision(323,670)(329,917)6,247 2 %Deferred state income tax benefit (provision)10,198 (689,972)700,170 101 %Benefit from (Provision for) Income Taxes$3,652,345 $(18,637,325)$22,289,670 120 %

Provision for income taxes. The provision for income taxes changed from a provision of $18.6 million for the nine months ended September 30, 2024 to a benefit of $3.7 million for the nine months ended September 30, 2025. The provision for income taxes was calculated using the annual effective tax rate method based on our estimated earnings and estimated state and federal income taxes due for 2025, taking into account all applicable tax rates and laws. 

54

Liquidity and Capital Resources

As of September 30, 2025, we had cash on hand of $0.3 million, compared to $1.9 million as of December