Company: REI
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0001628280-25-010585
Chunk: 120

Company: RING ENERGY, INC.
Filing Date: 2025-03-05
Form: 10-K
Item: Item 16
Chunk 120
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aps:Hedged volume (MMBtu)451,884 647,200 330,250 11,400 26,600 555,300 17,400 513,300 Weighted average swap price$3.77 $3.46 $3.72 $3.74 $3.74 $3.39 $3.74 $3.74 Two-way collars:Hedged volume (MMBtu)22,016 27,300 308,200 598,000 553,500 — 515,728 — Weighted average put price$3.00 $3.00 $3.00 $3.00 $3.50 $— $3.00 $— Weighted average call price$4.40 $4.15 $4.75 $4.15 $5.03 $— $3.93 $— Oil Hedges (basis differential)Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026Q4 2026Argus basis swaps:Hedged volume (Bbl)177,000 273,000 276,000 276,000 — — — — Weighted average spread price (1)$1.00 $1.00 $1.00 $1.00 $— $— $— $— (1) The oil basis swap hedges are calculated as the fixed price (weighted average spread price above) less the difference between WTI Midland and WTI Cushing, in the issue of Argus Americas Crude.

NOTE 8 — FAIR VALUE MEASUREMENTSFair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The authoritative guidance requires disclosure of the framework for measuring fair value and requires that fair value measurements be classified and disclosed in one of the following categories:Level 1:Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. We consider active markets as those in which transactions for the assets or liabilities occur with sufficient frequency and volume to provide pricing information on an ongoing basis.Level 2:Quoted