Company: REI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001384195-25-000018
Chunk: 182

Company: RING ENERGY, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 7
Chunk 182
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 $1.6 million from a negative $3.9 million to a negative $2.3 million. Our natural gas sales volumes increased from 1,705,027 Mcf to 1,853,599 Mcf, and the average realized price per Mcf increased from $(2.26) to $(1.22). Of the increase in volume of 148,572 Mcf, an increase of 168,823 Mcf was from the Lime Rock Acquisition and a decrease of 20,251 Mcf was attributable to legacy assets. The price increase was driven by improved market conditions. The realized revenue pricing included the impact of gas plant processing fees that were netted from revenue. For the three months ended September 30, 2025, gross revenues were $0.84 per Mcf and fees were $(2.06) per Mcf, compared to gross revenues of $(0.50) per Mcf and fees of $(1.76) per Mcf for the three months ended September 30, 2024. This resulted in a net realized price of $(1.22) per Mcf for the three months ended September 30, 2025 compared to $(2.26) per Mcf for the three months ended September 30, 2024.

Natural gas liquids sales. NGL sales decreased approximately $0.7 million from $2.7 million to $2.0 million. NGL sales volumes for the three months ended September 30, 2025 were 377,141 barrels compared to 350,975 barrels for the comparable period in 2024. Of the increase in volume of 26,166 barrels, 40,700 barrels were attributable to wells acquired in the Lime Rock Acquisition, offset by a reduction of 14,534 barrels attributable to our legacy assets in correlation with gas sales. The average realized price per barrel of NGLs was $5.22 for the three months ended September 30, 2025 compared to $7.66 for the three months ended September 30, 2024, due to weaker market conditions. Specifically, the gross realized price per NGL barrel was $17.52 and the average fees per barrel was $(12.30), resulting in a net realized price of $5.22 for the three months ended September 30, 2025, while the gross realized price per NGL barrel was $18.45 and the average fees per barrel was $(10.79), resulting in a