RING ENERGY INC
For the period ended Dec 31, 2024. Filed Mar 5, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 5, 2025
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, 2024 and 2023
BALANCE SHEETS
| As of December 31, | 2024 | 2023 |
|---|---|---|
| ASSETS | ||
| Current Assets | ||
| Cash and cash equivalents | $1,866,395 | $296,384 |
| Accounts receivable | 36,172,316 | 38,965,002 |
| Joint interest billing receivables, net | 1,083,164 | 2,422,274 |
| Derivative assets | 5,497,057 | 6,215,374 |
| Inventory | 4,047,819 | 6,136,935 |
| Prepaid expenses and other assets | 1,781,341 | 1,874,850 |
| Total Current Assets | 50,448,092 | 55,910,819 |
| Properties and Equipment | ||
| Oil and natural gas properties, full cost method | 1,809,309,848 | 1,663,548,249 |
| Financing lease asset subject to depreciation | 4,634,556 | 3,896,316 |
| Fixed assets subject to depreciation | 3,389,907 | 3,228,793 |
| Total Properties and Equipment | 1,817,334,311 | 1,670,673,358 |
| Accumulated depreciation, depletion and amortization | (475,212,325) | (377,252,572) |
| Net Properties and Equipment | 1,342,121,986 | 1,293,420,786 |
| Operating lease asset | 1,906,264 | 2,499,592 |
| Derivative assets | 5,473,375 | 11,634,714 |
| Deferred financing costs | 8,149,757 | 13,030,481 |
| Total Assets | $1,408,099,474 | $1,376,496,392 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current Liabilities | ||
| Accounts payable | $95,729,261 | $104,064,124 |
| Income tax liability | 328,985 | — |
| Financing lease liability | 906,119 | 956,254 |
| Operating lease liability | 648,204 | 568,176 |
| Derivative liabilities | 6,410,547 | 7,520,336 |
| Notes payable | 496,397 | 533,734 |
| Asset retirement obligations | 517,674 | 165,642 |
| Total Current Liabilities | 105,037,187 | 113,808,266 |
| Non-current Liabilities | ||
| Deferred income taxes | 28,591,802 | 8,552,045 |
| Revolving line of credit | 385,000,000 | 425,000,000 |
| Financing lease liability, less current portion | 647,078 | 906,330 |
| Operating lease liability, less current portion | 1,405,837 | 2,054,041 |
| Derivative liabilities | 2,912,745 | 11,510,368 |
| Asset retirement obligations | 25,864,843 | 28,082,442 |
| Total Liabilities | 549,459,492 | 589,913,492 |
| 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; 198,561,378 shares and 196,837,001 shares issued and outstanding, respectively | 198,561 | 196,837 |
| Additional paid-in capital | 800,419,719 | 795,834,675 |
| Retained earnings (Accumulated deficit) | 58,021,702 | (9,448,612) |
| Total Stockholders’ Equity | 858,639,982 | 786,582,900 |
| Total Liabilities and Stockholders' Equity | $1,408,099,474 | $1,376,496,392 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.