RING ENERGY INC
For the period ended Dec 31, 2023. Filed Mar 7, 2024.
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FY2023 · Filed Mar 7, 2024
REI$1.13-0.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Balance Sheets as of December 31, 202 and
BALANCE SHEETS
| As of December 31, | 2023 | 2022 |
|---|---|---|
| ASSETS | ||
| Current Assets | ||
| Cash and cash equivalents | $296,384 | $3,712,526 |
| Accounts receivable | 38,965,002 | 42,448,719 |
| Joint interest billing receivables, net | 2,422,274 | 983,802 |
| Derivative assets | 6,215,374 | 4,669,162 |
| Inventory | 6,136,935 | 9,250,717 |
| Prepaid expenses and other assets | 1,874,850 | 2,101,538 |
| Total Current Assets | 55,910,819 | 63,166,464 |
| Properties and Equipment | ||
| Oil and natural gas properties, full cost method | 1,663,548,249 | 1,463,838,595 |
| Financing lease asset subject to depreciation | 3,896,316 | 3,019,476 |
| Fixed assets subject to depreciation | 3,228,793 | 3,147,125 |
| Total Properties and Equipment | 1,670,673,358 | 1,470,005,196 |
| Accumulated depreciation, depletion and amortization | (377,252,572) | (289,935,259) |
| Net Properties and Equipment | 1,293,420,786 | 1,180,069,937 |
| Operating lease asset | 2,499,592 | 1,735,013 |
| Derivative assets | 11,634,714 | 6,129,410 |
| Deferred financing costs | 13,030,481 | 17,898,973 |
| Total Assets | $1,376,496,392 | $1,268,999,797 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current Liabilities | ||
| Accounts payable | $104,064,124 | $111,398,268 |
| Financing lease liability | 956,254 | 709,653 |
| Operating lease liability | 568,176 | 398,362 |
| Derivative liabilities | 7,520,336 | 13,345,619 |
| Notes payable | 533,734 | 499,880 |
| Deferred cash payment | — | 14,807,276 |
| Asset retirement obligations | 165,642 | 635,843 |
| Total Current Liabilities | 113,808,266 | 141,794,901 |
| Non-current Liabilities | ||
| Deferred income taxes | 8,552,045 | 8,499,016 |
| Revolving line of credit | 425,000,000 | 415,000,000 |
| Financing lease liability, less current portion | 906,330 | 1,052,479 |
| Operating lease liability, less current portion | 2,054,041 | 1,473,897 |
| Derivative liabilities | 11,510,368 | 10,485,650 |
| Asset retirement obligations | 28,082,442 | 29,590,463 |
| Total Liabilities | 589,913,492 | 607,896,406 |
| Commitments and Contingencies - See Note | ||
| Stockholders' Equity | ||
| Preferred 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; 196,837,001 shares and 175,530,212 shares issued and outstanding, respectively | 196,837 | 175,530 |
| Additional paid-in capital | 795,834,675 | 775,241,114 |
| Accumulated deficit | (9,448,612) | (114,313,253) |
| Total Stockholders’ Equity | 786,582,900 | 661,103,391 |
| Total Liabilities and Stockholders' Equity | $1,376,496,392 | $1,268,999,797 |
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