Company: REI
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038401
Chunk: 6

Company: RING ENERGY, INC.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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384 Cash at End of Period$— $1,178,812 

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

For the Six Months EndedJune 30, 2025June 30, 2024Supplemental Cash Flow InformationCash paid for interest$20,958,502 $20,229,215 Cash paid (refunded) for income taxes(62,513)72,213 Noncash Investing and Financing ActivitiesAsset retirement obligation incurred during development$23,158 $323,673 Asset retirement obligation acquired2,587,179 — Asset retirement obligation sold— (256,740)Financing lease assets obtained in exchange for new financing lease liability, net (1)264,114 341,218 Change in capitalized expenditures attributable to drilling projects financed through current liabilities(781,392)(4,461,783)Lime Rock Acquisition Supplemental ScheduleInvesting Activities - Cash PaidCash paid to Lime Rock on closing$63,599,939 $— Escrow deposit released at closing5,000,000 — Direct transaction costs2,294,105 — Cash paid for fixed assets acquired(34,275)— Payments for the Lime Rock Acquisition$70,859,769 $— Investing Activities - NoncashAssumption of suspense liability$561,977 $— Assumption of asset retirement obligation2,587,179 — Deferred cash payment at fair value9,415,066 — Financing Activities - NoncashCommon stock issued for acquisition$7,420,811 $— 

(1) Included within the financing lease assets obtained in exchange for new financing lease liability, net is  $95,845 of finance lease asset terminations for the six months ended June 30, 2025. For the six months ended June 30, 2024, the Company had $45,436 in finance lease asset terminations.

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

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Table of Contents

RING ENERGY, INC.

NOTES TO CONDENSED FINANCIAL STATEMENTS

(UNAUDITED)

Index to the Notes to the Condensed Financial StatementsNote 1 — Basis of Presentation & Significant Accounting PoliciesNote 8 — Revolving Line of CreditNote 2 — Revenue RecognitionNote 9 — Asset Retirement Obl