Company: REI
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-023254
Chunk: 131

Company: RING ENERGY, INC.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 131
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)(18,360,434)Gathering, transportation and processing costs(203,612)(166,054)Ad valorem taxes(1,532,108)(2,145,631)Oil and natural gas production taxes(3,584,455)(4,428,303)Exploration and Production segment profit$54,093,480 $69,402,714 (1) All of the Company's revenues are within the Permian Basin within the United States.(2) The CODM also reviews the following cost categories within lease operating expenses. Refer to the following table.For the Three Months Ended March 31,20252024Lease operating expenses:Workovers$2,816,209 $3,590,292 Other lease operating expenses$16,861,343 $14,770,142 Total lease operating expenses$19,677,552 $18,360,434 The following tables include a reconciliation of the total reportable segments' measures of profit or loss to the Company's consolidated income before income taxes. Additionally included is a reconciliation between the reportable segments' assets to the Company's consolidated assets.

For the three months ended March 31, 2025Exploration and ProductionCorporateTotal CompanyOil, Natural Gas, and Natural Gas Liquids Revenues$79,091,207 $— $79,091,207 Lease operating expenses(19,677,552)— (19,677,552)Gathering, transportation and processing costs(203,612)— (203,612)Ad valorem taxes(1,532,108)— (1,532,108)Oil and natural gas production taxes(3,584,455)— (3,584,455)Depreciation, depletion and amortization (3)— (22,615,983)(22,615,983)Asset retirement obligation accretion— (326,549)(326,549)Operating lease expense— (175,091)(175,091)General and administrative expense— (8,619,976)(8,619,976)Interest income— 90,058 90,058 Interest (expense)— (9,498,786)(9,498,786)Gain (loss) on derivative contracts— (928,790)(928,790)Gain (loss) on disposal of assets— 124,610 124,610 Other income— 8,942 8,