Company: REI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001384195-25-000018
Chunk: 2

Company: RING ENERGY, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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868 Costs and Operating ExpensesLease operating expenses20,518,472 20,315,282 60,442,005 57,984,733 Gathering, transportation and processing costs126,569 102,420 463,990 376,103 Ad valorem taxes2,446,565 2,164,562 5,627,320 5,647,469 Oil and natural gas production taxes3,670,987 4,203,851 11,088,049 12,259,418 Depreciation, depletion and amortization25,225,345 25,662,123 73,411,242 74,153,994 Ceiling test impairment72,912,330 — 72,912,330 — Asset retirement obligation accretion390,563 354,195 1,099,363 1,057,213 Operating lease expense175,091 175,091 525,272 525,272 General and administrative expense8,139,771 6,421,567 23,898,266 21,604,323 Total Costs and Operating Expenses133,605,693 59,399,091 249,467,837 173,608,525 Income (Loss) from Operations(55,004,357)29,845,292 (9,172,535)109,278,343 Other Income (Expense)Interest income74,253 143,704 233,969 367,181 Interest (expense)(10,052,320)(10,754,243)(31,308,510)(33,199,314)Gain (loss) on derivative contracts444,305 24,731,625 14,163,569 3,888,531 Gain (loss) on disposal of assets105,642 — 385,545 89,693 Other income— — 159,712 25,686 Net Other Income (Expense)(9,428,120)14,121,086 (16,365,715)(28,828,223)Income (Loss) Before Benefit from (Provision for) Income Taxes(64,432,477)43,966,378 (25,538,250)80,450,120 Benefit from (Provision for) Income Taxes12,800,947 (10,087,954)