RING ENERGY, INC.

Listed Company

REICIK 0001384195NYSEAcceleratedSmaller ReportingCrude Petroleum & Natural GasNevadaFY ends Dec 31

Period

FY 2025

Revenue

$307.18M

Net Income

$-34.73M

Total Assets

$1.41B

Equity

$836.28M

Shares Out

209.40M

Op. Cash Flow

$150.85M

Business

RING ENERGY, INC. is an independent oil and natural gas exploration and production company engaged in development, production, acquisition, and exploration activities focused on the Permian Basin in Texas. The company produces and markets crude oil, natural gas, and natural gas liquids, and conducts drilling, recompletions, and well re‑activations targeting oil‑ and liquids‑rich formations. Its primary operations include operated drilling and development on its Northwest Shelf and Central Basin Platform leasehold positions, along with asset acquisition and portfolio optimization activities. The company sells production to end users, marketers and pipeline purchasers and transports oil by pipeline or truck, and gas via gathering systems, while employing commodity hedging to manage price exposure.

Summary from filing dated 2025-03-05

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Oil, Natural Gas, and Natural Gas Liquids Revenues	307	366	361	347	196
Lease operating expenses	79	78	70	48	30
Gathering, transportation and processing costs	585,087	506,333	457,573	2	—
Ad valorem taxes	8	8	7	5	2
Oil and natural gas production taxes	14	16	18	17	9
Depreciation, depletion and amortization	96	99	89	56	37
Ceiling test impairment	109	0	0	0	0
Asset retirement obligation accretion	1	1	1	983,432	744,045
Operating lease expense	700,362	700,362	541,801	363,908	523,487
General and administrative expense	32	30	29	27	16
Total Costs and Operating Expenses	342	233	215	156	101
Income (Loss) from Operations	−34	133	146	192	96
Interest income	290,879	491,946	257,155	4	1
Interest (expense)	−40	−43	−44	−23	—
Gain (loss) on derivative contracts	32	−2	3	−22	−78
Gain (loss) on disposal of assets	446,400	89,693	−87,128	0	—
Other income	189,294	106,656	198,935	0	0
Net Other Income (Expense)	−8	−45	−41	−45	−92
Income (Loss) Before Benefit from (Provision for) Income Taxes	−42	88	105	147	3
Benefit from (Provision for) Income Taxes	7	−20	−125,242	−8	−90,342
Net Income (Loss)	−35	67	105	139	3
Basic Earnings (Loss) per Share (in dollars per share)	−0.17	0.34	0.55	1.14	0.03
Diluted Earnings (Loss) per Share (in dollars per share)	−0.17	0.34	0.54	0.98	0.03

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	902,913	2	296,384	4	2
Accounts receivable	31	36	39	42	24
Joint interest billing receivables, net	2	1	2	983,802	2
Derivative assets	21	5	6	5	0
Inventory	5	4	6	9	0
Prepaid expenses and other assets	2	2	2	2	938,029
Total Current Assets	62	50	56	63	30
Oil and natural gas properties, full cost method	1,892	1,809	1,664	1,464	884
Financing lease asset subject to depreciation	4	5	4	3	1
Fixed assets subject to depreciation	4	3	3	3	2
Total Properties and Equipment	1,899	1,817	1,671	1,470	887
Accumulated depreciation, depletion and amortization	−569	−475	−377	−290	−236
Net Properties and Equipment	1,329	1,342	1,293	1,180	651
Operating lease asset	1	2	2	2	1
Derivative assets	10	5	12	6	0
Deferred financing costs	9	8	13	18	2
Total Assets	1,412	1,408	1,376	1,269	684
Accounts payable	98	96	104	111	—
Income tax liability	356,436	328,985	0	—	—
Financing lease liability	730,564	906,119	956,254	709,653	316,514
Operating lease liability	586,614	648,204	568,176	398,362	290,766
Derivative liabilities	841,193	6	8	13	29
Notes payable	505,752	496,397	533,734	499,880	586,410
Asset retirement obligations	418,526	517,674	165,642	635,843	—
Total Current Liabilities	101	105	114	142	77
Deferred income taxes	21	29	9	8	90,292
Revolving line of credit	420	385	425	415	290
Financing lease liability, less current portion	593,146	647,078	906,330	1	343,727
Operating lease liability, less current portion	819,223	1	2	1	1
Derivative liabilities	3	3	12	10	0
Asset retirement obligations	30	26	28	30	—
Total Liabilities	576	549	590	608	384
Commitments and contingencies - See Note 13	—	—	—	—	—
Preferred stock - $0.001 par value; 50,000,000 shares authorized; no shares issued or outstanding	0	0	0	0	0
Common stock - $0.001 par value; 450,000,000 shares authorized; 207,656,929 shares and 198,561,378 shares issued and outstanding, respectively	207,657	198,561	196,837	175,530	100,193
Additional paid-in capital	813	800	796	775	553
Retained earnings (Accumulated deficit)	23	58	−9	−114	−253
Total Stockholders Equity	836	859	787	661	301
Total Liabilities and Stockholders' Equity	1,412	1,408	1,376	1,269	684

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation, depletion and amortization	96	99	89	56	37
Amortization of deferred financing costs	4	5	5	3	665,882
Share-based compensation	6	6	9	7	2
Credit loss expense	19,029	160,847	134,007	242,247	0
(Gain) loss on disposal of assets	−446,400	−89,693	0	0	—
Deferred income tax expense (benefit)	−8	20	−425,275	9	265,479
Excess tax expense (benefit) related to share-based compensation	30,763	104,344	478,304	−312,268	−175,187
(Gain) loss on derivative contracts	−32	2	−3	22	78
Cash received (paid) for derivative settlements, net	5	−5	−9	−63	−53
Accounts receivable	4	4	1	−17	−9
Inventory	−1	2	3	−6	0
Prepaid expenses and other assets	−41,410	93,509	226,688	−1	−541,920
Accounts payable	474,744	−5	−1	51	15
Settlement of asset retirement obligation	−904,493	−2	−2	−3	−2
Net Cash Provided by Operating Activities	151	194	198	197	73
Payments to purchase oil and natural gas properties	−3	−2	−2	−2	−1
Payments to develop oil and natural gas properties	−95	−154	−153	−129	−51
Payments to acquire or improve fixed assets subject to depreciation	−179,771	−185,524	−492,317	−319,945	−568,832
Proceeds from sale of fixed assets subject to depreciation	17,360	10,605	332,229	134,600	0
Proceeds from divestiture of oil and natural gas properties	100	121,232	2	23,700	2
Insurance proceeds received for damage to oil and natural gas properties	260,446	0	0	—	—
Net Cash Used in Investing Activities	−180	−151	−223	−309	−51
Proceeds from revolving line of credit	232	130	225	636	60
Payments on revolving line of credit	−197	−170	−215	−511	−83
Proceeds from issuance of common stock and warrants	0	0	12	8	367,509
Payments for taxes withheld on vested restricted shares, net	−1	−919,249	−520,153	−521,199	−385,330
Proceeds from notes payable	2	2	2	1	1
Payments on notes payable	−2	−2	−2	−1	−711,308
Payment of deferred financing costs	−6	−88,450	−52,222	−19	−104,818
Reduction of financing lease liabilities	−484,079	−954,298	−776,388	−495,098	−325,901
Net Cash Provided by (Used in) Financing Activities	28	−42	21	113	−23
Net Increase (Decrease) in Cash	−963,482	2	−3	1	−1
Cash paid for interest	32	39	38	20	14
Cash paid (refunded) for income taxes	347,487	72,213	72,213	0	0
Asset retirement obligation incurred during development	89,923	695,553	439,528	353,008	171,390
Asset retirement obligation acquired	3	0	2	15	662,705
Asset retirement obligation revision of estimate	−78,480	133,794	53,826	0	435,419
Asset retirement obligation sold	−65,129	−3	−5	0	−3
Operating lease assets obtained in exchange for new operating lease liability	0	0	2	754,894	839,536
Financing lease assets obtained in exchange for new financing lease liability, net	707,964	738,240	894,996	952,101	0
Change in capitalized expenditures attributable to drilling projects financed through current liabilities	1	−4	−2	9	309,365

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro