Company: REI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001384195-25-000018
Chunk: 65

Company: RING ENERGY, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 65
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 of deferred financing costs3,768,292 3,670,096 98,196 3 %     Interest on financing lease liabilities80,709 89,963 (9,254)(10)%     Interest paid for notes payable42,876 40,481 2,395 6 %     Deferred cash payment accretion385,310 — 385,310 100 %     Other interest— 150,552 (150,552)(100)%Total interest expense$31,308,510 $33,199,314 $(1,890,804)(6)%Gain (loss) on derivative contracts:Realized gain (loss):     Crude oil$1,858,524 $(9,921,757)$11,780,281 119 %     Natural gas851,955 3,982,980 (3,131,025)(79)%Total realized gain (loss)$2,710,479 $(5,938,777)$8,649,256 146 %Unrealized gain (loss):     Crude oil$10,961,216 $12,552,517 $(1,591,301)(13)%     Natural gas491,874 (2,725,209)3,217,083 118 %Total unrealized gain (loss)$11,453,090 $9,827,308 $1,625,782 17 %Total gain (loss) on derivative contracts:$14,163,569 $3,888,531 $10,275,038 264 %Gain (loss) on disposal of assets$385,545 $89,693 $295,852 330 %Other income$159,712 $25,686 $134,026 522 %

Interest income. Interest income decreased $133,212 from $367,181 to $233,969, as a result of $142,976 in lower earnings on excess cash balances in bank sweep accounts, offset by an increase of $9,764 in severance tax interest receipts.

Interest expense. Interest expense decreased by approximately $1.9 million from $33.2 million to $31.3 million as a result of lower interest rates, with a weighted average annual interest rate of 8.3% during the nine months ended September 30, 2025 compared to 9.3