Company: REI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001384195-25-000018
Chunk: 27

Company: RING ENERGY, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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,628 — 1,628,164 Performance stock units— 597,939 — 619,555 Common warrants— 43,250 — 41,221 Diluted Weighted-Average Shares Outstanding206,688,003 200,723,863 204,223,621 200,139,478 Basic Earnings (Loss) per Share$(0.25)$0.17 $(0.11)$0.31 Diluted Earnings (Loss) per Share$(0.25)$0.17 $(0.11)$0.31 The following table presents the securities which were excluded from the Company's computation of diluted earnings (loss) per share for the three and nine months ended September 30, 2025 and 2024, as their effect would have been anti-dilutive.For the Three Months EndedFor the Nine Months EndedSeptember 30, 2025September 30, 2024September 30, 2025September 30, 2024Antidilutive securities:Stock options to purchase common stock64,848 65,50065,28066,850Unvested restricted stock units5,328,767 51,6225,262,174 56,530 Unvested performance stock units3,403,082 516,4502,776,1011,198,361

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NOTE 5 — ACQUISITIONS AND DIVESTITURES

CBP Vertical Well SaleOn September 30, 2024, the Company completed the sale of certain oil and gas properties, including vertical wells and associated facilities, within Andrews County, Texas and Gaines County, Texas to an unaffiliated party for $5.5 million, with cash consideration being the same. As part of the sale, the buyer assumed an asset retirement obligation balance of approximately $2.7 million.

Lime Rock AcquisitionOn February 25, 2025, the Company, as buyer, and Lime Rock Resources IV-A, L.P. (“LRRA”) and Lime Rock Resources IV-C, L.P. ("LRRC" and with LRRA, "Lime Rock"), as seller, entered into a purchase and sale agreement (the “Purchase Agreement”), which provided that the Company would acquire (the “Lime Rock Acquisition”) interests in oil and gas leases and related property of Lime Rock located in the Central Basin Platform of the Texas Permian Basin in Andrews County, Texas