$REI
RING ENERGY, INC.
CIK:0001384195|SEC Filings
CONDENSED STATEMENTS OF OPERATIONS - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Income Statement [Abstract] | ||||
| Oil, Natural Gas, and Natural Gas Liquids Revenues | $ 104,681,489 | $ 82,602,759 | $ 178,353,153 | $ 161,693,966 |
| Costs and Operating Expenses | ||||
| Lease operating expenses | 18,409,462 | 20,245,981 | 36,531,806 | 39,923,533 |
| Gathering, transportation and processing costs | 101,902 | 133,809 | 218,951 | 337,421 |
| Ad valorem taxes | 2,202,160 | 1,648,647 | 4,404,697 | 3,180,755 |
| Oil and natural gas production taxes | 5,047,619 | 3,832,607 | 8,601,510 | 7,417,062 |
| Depreciation, depletion and amortization | 20,114,890 | 25,569,914 | 41,520,838 | 48,185,897 |
| Ceiling test impairment | 0 | 0 | 162,086,257 | 0 |
| Asset retirement obligation accretion | 401,944 | 382,251 | 797,440 | 708,800 |
| Operating lease expense | 175,090 | 175,090 | 350,181 | 350,181 |
| General and administrative expense | 7,954,230 | 7,138,519 | 15,393,008 | 15,758,495 |
| Total Costs and Operating Expenses | 54,407,297 | 59,126,818 | 269,904,688 | 115,862,144 |
| Income (Loss) from Operations | 50,274,192 | 23,475,941 | (91,551,535) | 45,831,822 |
| Other Income (Expense) | ||||
| Interest income | 148,540 | 69,658 | 219,069 | 159,716 |
| Interest (expense) | (8,379,552) | (11,757,404) | (16,979,161) | (21,256,190) |
| Gain (loss) on derivative contracts | 23,724,426 | 14,648,054 | (58,506,499) | 13,719,264 |
| Gain (loss) on disposal of assets | 104,150 | 155,293 | 104,150 | 279,903 |
| Other income | 9,600 | 150,770 | 15,437 | 159,712 |
| Net Other Income (Expense) | 15,607,164 | 3,266,371 | (75,147,004) | (6,937,595) |
| Income (Loss) Before Benefit from (Provision for) Income Taxes | 65,881,356 | 26,742,312 | (166,698,539) | 38,894,227 |
| Benefit from (Provision for) Income Taxes | (1,088,046) | (6,107,425) | 10,900,367 | (9,148,602) |
| Net Income (Loss) | $ 64,793,310 | $ 20,634,887 | $ (155,798,172) | $ 29,745,625 |
| Basic Earnings (Loss) per Share (in dollars per share) | $ 0.28 | $ 0.10 | $ (0.70) | $ 0.15 |
| Diluted Earnings (Loss) per Share (in dollars per share) | $ 0.27 | $ 0.10 | $ (0.70) | $ 0.15 |
CONDENSED BALANCE SHEETS - USD ($) |
Jun. 30, 2026 |
Dec. 31, 2025 |
|---|---|---|
| Current Assets | ||
| Cash and cash equivalents | $ 1,137,410 | $ 902,913 |
| Accounts receivable | 43,460,514 | 30,938,908 |
| Joint interest billing receivables, net | 1,083,368 | 1,623,991 |
| Derivative assets | 6,335,601 | 21,468,134 |
| Inventory | 5,626,261 | 5,312,715 |
| Prepaid expenses and other assets | 3,195,806 | 1,822,751 |
| Total Current Assets | 60,838,960 | 62,069,412 |
| Properties and Equipment | ||
| Oil and natural gas properties, full cost method | 1,804,582,372 | 1,891,510,431 |
| Financing lease asset subject to depreciation | 3,687,531 | 3,633,586 |
| Fixed assets subject to depreciation | 3,389,403 | 3,504,788 |
| Total Properties and Equipment | 1,811,659,306 | 1,898,648,805 |
| Accumulated depreciation, depletion and amortization | (610,047,201) | (569,180,901) |
| Net Properties and Equipment | 1,201,612,105 | 1,329,467,904 |
| Operating lease asset | 963,396 | 1,285,159 |
| Derivative assets | 10,154,821 | 9,739,430 |
| Deferred financing costs | 7,987,814 | 9,337,344 |
| Total Assets | 1,281,557,096 | 1,411,899,249 |
| Current Liabilities | ||
| Accounts payable | 98,068,202 | 90,258,731 |
| Income tax liability | 514,966 | 356,436 |
| Financing lease liability | 693,432 | 730,564 |
| Operating lease liability | 491,796 | 586,614 |
| Derivative liabilities | 11,373,096 | 841,193 |
| Notes payable | 1,496,304 | 505,752 |
| Asset retirement obligations | 291,844 | 418,526 |
| Total Current Liabilities | 112,929,640 | 93,697,816 |
| Non-current Liabilities | ||
| Deferred income taxes | 11,243,098 | 22,298,701 |
| Revolving line of credit | 360,000,000 | 420,000,000 |
| Financing lease liability, less current portion | 533,212 | 593,146 |
| Operating lease liability, less current portion | 569,328 | 819,223 |
| Derivative liabilities | 12,035,055 | 2,512,692 |
| Asset retirement obligations | 30,823,001 | 29,972,429 |
| Total Liabilities | 528,133,334 | 569,894,007 |
| Commitments and contingencies (See Note 12) | ||
| Stockholders' Equity | ||
| Preferred stock - $0.001 par value; 50,000,000 shares authorized; no shares issued or outstanding | 0 | 0 |
| Common stock - $0.001 par value; 450,000,000 shares authorized; 260,520,291 shares and 207,656,929 shares issued and outstanding, respectively | 260,520 | 207,657 |
| Additional paid-in capital | 879,941,415 | 812,777,586 |
| Retained earnings (Accumulated deficit) | (126,778,173) | 29,019,999 |
| Total Stockholders’ Equity | 753,423,762 | 842,005,242 |
| Total Liabilities and Stockholders' Equity | $ 1,281,557,096 | $ 1,411,899,249 |