Company: REI
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038401
Chunk: 134

Company: RING ENERGY, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 134
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,923 1 %     Amortization of deferred financing costs3,074,667 2,443,215 631,452 26 %     Interest on financing lease liabilities56,379 62,739 (6,360)(10)%     Interest paid for notes payable17,166 16,366 800 5 %     Deferred cash payment accretion189,671 — 189,671 100 %     Other interest— 150,000 (150,000)(100)%Total interest expense$21,256,190 $22,445,071 $(1,188,881)(5)%Gain (loss) on derivative contracts:Realized gain (loss):     Crude oil$(206,966)$(6,812,097)$6,605,131 97 %     Natural gas331,215 2,756,085 (2,424,870)(88)%Total realized gain (loss)$124,249 $(4,056,012)$4,180,261 103 %Unrealized gain (loss):     Crude oil$14,487,365 $(14,685,728)$29,173,093 199 %     Natural gas(892,350)(2,101,354)1,209,004 58 %Total unrealized gain (loss)$13,595,015 $(16,787,082)$30,382,097 181 %Total gain (loss) on derivative contracts:$13,719,264 $(20,843,094)$34,562,358 166 %Gain (loss) on disposal of assets$279,903 $89,693 $190,210 212 %Other income$159,712 $25,686 $134,026 522 %

Interest income. Interest income decreased $63,761 from $223,477 to $159,716, from a reduction of $71,128 from depositing excess cash balances in bank sweep accounts, offset by an increase of $7,367 in severance tax interest payments.

Interest expense. Interest expense decreased by approximately  $1.2 million from $22.4 million to $21.3 million as a result of lower interest rates, with a weighted average annual interest rate of 8.4% during the six months ended June 30, 2025 compared to