Company: REI
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0001628280-25-010585
Chunk: 85

Company: RING ENERGY, INC.
Filing Date: 2025-03-05
Form: 10-K
Item: Item 16
Chunk 85
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517,674 165,642 Total Current Liabilities105,037,187 113,808,266 Non-current LiabilitiesDeferred income taxes28,591,802 8,552,045 Revolving line of credit385,000,000 425,000,000 Financing lease liability, less current portion647,078 906,330 Operating lease liability, less current portion1,405,837 2,054,041 Derivative liabilities2,912,745 11,510,368 Asset retirement obligations25,864,843 28,082,442 Total Liabilities549,459,492 589,913,492 Commitments and Contingencies - See Note 13Stockholders' EquityPreferred stock - $0.001 par value; 50,000,000 shares authorized; no shares issued or outstanding— — Common stock - $0.001 par value; 450,000,000 shares authorized; 198,561,378 shares and 196,837,001 shares issued and outstanding, respectively198,561 196,837 Additional paid-in capital800,419,719 795,834,675 Retained earnings (Accumulated deficit)58,021,702 (9,448,612)Total Stockholders’ Equity858,639,982 786,582,900 Total Liabilities and Stockholders' Equity$1,408,099,474 $1,376,496,392 

The accompanying notes are an integral part of these financial statements.

F-4

Table of ContentsRING ENERGY, INC.STATEMENTS OF OPERATIONS

For the years ended December 31,202420232022Oil, Natural Gas, and Natural Gas Liquids Revenues$366,327,414 $361,056,001 $347,249,537 Costs and Operating ExpensesLease operating expenses78,310,949 70,158,227 47,695,351 Gathering, transportation and processing costs506,333 457,573 1,830,024 Ad valorem taxes8,069,064 6,757,841 4,670,617 Oil and natural gas production taxes16,116,565 18,135,336 17,125,982 Depreciation, depletion and amortization98,702,843 88,610,291 55,740,767 Asset retirement obligation accret