Company: REI
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001628280-25-023254
Chunk: 94

Company: RING ENERGY, INC.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 94
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abilitiesAccounts payable$86,417,436 $95,729,261 Income tax liability537,591 328,985 Financing lease liability846,380 906,119 Operating lease liability661,487 648,204 Derivative liabilities5,426,195 6,410,547 Notes payable— 496,397 Deferred cash payment9,415,066 — Asset retirement obligations441,611 517,674 Total Current Liabilities103,745,766 105,037,187 Non-current LiabilitiesDeferred income taxes31,496,585 28,591,802 Revolving line of credit460,000,000 385,000,000 Financing lease liability, less current portion708,304 647,078 Operating lease liability, less current portion1,234,690 1,405,837 Derivative liabilities3,632,133 2,912,745 Asset retirement obligations28,826,738 25,864,843 Total Liabilities629,644,216 549,459,492 Commitments and contingencies (See Note 12)Stockholders' 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; 206,509,126 shares and 198,561,378 shares issued and outstanding, respectively206,509 198,561 Additional paid-in capital808,627,109 800,419,719 Retained earnings (Accumulated deficit)67,132,440 58,021,702 Total Stockholders’ Equity875,966,058 858,639,982 Total Liabilities and Stockholders' Equity$1,505,610,274 $1,408,099,474 

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

6

Table of ContentsRING ENERGY, INC.CONDENSED STATEMENTS OF OPERATIONS(Unaudited)

For the Three Months EndedMarch 31, 2025March 31, 2024Oil, Natural Gas, and Natural Gas Liquids Revenues$79,091,207 $94,503,136 Costs and Operating ExpensesLease operating expenses19,677,552 18,360,434 Gathering, transportation and processing costs203