Company: REI
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-023254
Chunk: 97

Company: RING ENERGY, INC.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 97
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2,805,346 1,585,445 Excess tax expense (benefit) related to share-based compensation99,437 40,808 (Gain) loss on derivative contracts928,790 19,014,495 Cash received (paid) for derivative settlements, net(553,594)(1,461,515)Changes in operating assets and liabilities:Accounts receivable(564,158)(5,240,487)Inventory747,064 171,416 Prepaid expenses and other assets624,812 503,704 Accounts payable(10,385,137)(1,601,276)Settlement of asset retirement obligation(207,580)(591,361)Net Cash Provided by Operating Activities28,371,008 45,189,169 Cash Flows From Investing ActivitiesPayments for the Lime Rock Acquisition(70,859,769)— Payments to purchase oil and natural gas properties(647,106)(475,858)Payments to develop oil and natural gas properties(31,083,507)(38,904,808)Payments to acquire or improve fixed assets subject to depreciation(34,275)(124,937)Proceeds from sale of fixed assets subject to depreciation17,360 — Net Cash Used in Investing Activities(102,607,297)(39,505,603)Cash Flows From Financing ActivitiesProceeds from revolving line of credit114,000,000 51,500,000 Payments on revolving line of credit(39,000,000)(54,500,000)Payments for taxes withheld on vested restricted shares, net(896,431)(814,985)Payments on notes payable(496,397)(533,734)Reduction of financing lease liabilities(136,427)(255,156)Net Cash Provided by (Used in) Financing Activities73,470,745 (4,603,875)Net Increase (Decrease) in Cash(765,544)1,079,691 Cash at Beginning of Period1,866,395 296,384 Cash at End of Period$1,100,851 $1,376,075 

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Table of ContentsRING ENERGY, INC.CONDENSED STATEMENTS OF CASH FLOWS (CONTINUED)(Unaudited)

For the Three Months EndedMarch 31, 2025March 31, 2024Supplemental Cash Flow InformationCash paid for interest$8,356,963 $9,