Company: REI
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-023254
Chunk: 8

Company: RING ENERGY, INC.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 2
Chunk 8
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, 2025 and 2024

For the Three Months EndedMarch 31, 2025March 31, 2024Change% ChangeInterest income$90,058 $78,544 $11,514 15 %Interest expense:     Interest on revolving line of credit$7,947,642 $9,766,051 $(1,818,409)(19)%     Fees associated with revolving line of credit277,389 239,628 37,761 16 %     Amortization of deferred financing costs1,238,493 1,221,607 16,886 1 %     Interest on financing lease liabilities28,741 31,317 (2,576)(8)%     Interest paid for notes payable6,521 6,380 141 2 %     Other interest— 233,961 (233,961)(100)%Total interest expense$9,498,786 $11,498,944 $(2,000,158)(17)%Gain (loss) on derivative contracts:Realized gain (loss):     Crude oil$(640,267)$(2,738,970)$2,098,703 77 %     Natural gas86,673 1,277,455 (1,190,782)(93)%Total realized gain (loss)$(553,594)$(1,461,515)$907,921 62 %Unrealized gain (loss):     Crude oil$2,341,425 $(16,994,322)$19,335,747 114 %     Natural gas(2,716,621)(558,658)(2,157,963)(386)%Total unrealized gain (loss)$(375,196)$(17,552,980)$17,177,784 98 %Total gain (loss) on derivative contracts:$(928,790)$(19,014,495)$18,085,705 95 %Gain (loss) on disposal of assets$124,610 $38,355 $86,255 225 %Other income$8,942 $25,686 $(16,744)(65)%

Interest income. Interest income increased $11,514 from $78,544 to $90,058, from $7,367 in severance tax interest payments and $4,147 from deposit