$REI
RING ENERGY, INC.

2019 Q4 Form 10-Q Financial Statement

#000110465919060512 Filed on November 06, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2018 Q3 2018 Q2
Revenue $52.23M $32.69M $29.92M
YoY Change 89.5% 96.39% 106.33%
Cost Of Revenue $14.37M $7.218M $6.638M
YoY Change 53.03% 69.36% 88.89%
Gross Profit $37.86M $25.47M $23.29M
YoY Change 108.35% 105.7% 111.91%
Gross Profit Margin 72.49% 77.92% 77.82%
Selling, General & Admin $5.134M $3.205M $3.150M
YoY Change 49.89% 35.24% 32.91%
% of Gross Profit 13.56% 12.58% 13.53%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $14.54M $10.93M $9.144M
YoY Change 39.2% 12999.12% 11810.59%
% of Gross Profit 38.41% 42.92% 39.27%
Operating Expenses $19.94M $14.30M $12.46M
YoY Change -29.18% 95.93% 62.45%
Operating Profit $17.92M $9.615M $9.398M
YoY Change -279.46% 124.02% 258.46%
Interest Expense -$10.34M $40.94K $0.00
YoY Change -776.48%
% of Operating Profit -57.71% 0.43% 0.0%
Other Income/Expense, Net -$3.324M -$3.419M
YoY Change -2296.09% -7326.03%
Pretax Income $7.579M $6.291M $5.979M
YoY Change -189.61% 41.57% 124.02%
Income Tax $2.552M $596.9K $1.259M
% Of Pretax Income 33.68% 9.49% 21.06%
Net Earnings $5.027M $5.694M $4.720M
YoY Change -171.01% 85.23% 147.01%
Net Earnings / Revenue 9.62% 17.42% 15.77%
Basic Earnings Per Share $0.08 $0.09 $0.08
Diluted Earnings Per Share $0.08 $0.09 $0.08
COMMON SHARES
Basic Shares Outstanding 67.81M 60.41M 60.39M
Diluted Shares Outstanding 61.83M 61.96M

Balance Sheet

Concept 2019 Q4 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.00M $3.771M $13.40M
YoY Change 197.43% -90.78% 10.74%
Cash & Equivalents $10.00M $3.771M $13.43M
Short-Term Investments
Other Short-Term Assets $3.982M $379.2K $400.0K
YoY Change 1438.09% 26.39% 0.0%
Inventory
Prepaid Expenses $3.982M $379.2K $437.7K
Receivables $22.91M $11.58M $11.34M
Other Receivables $1.812M $1.878M $1.400M
Total Short-Term Assets $38.71M $17.60M $26.55M
YoY Change 129.8% -64.58% 24.04%
LONG-TERM ASSETS
Property, Plant & Equipment $929.2M $509.1M $469.3M
YoY Change 71.44% 58.17% 62.57%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.214M $6.903M $7.600M
YoY Change -60.85% -62.49% -61.62%
Total Long-Term Assets $934.3M $516.1M $476.9M
YoY Change 69.8% 51.6% 54.59%
TOTAL ASSETS
Total Short-Term Assets $38.71M $17.60M $26.55M
Total Long-Term Assets $934.3M $516.1M $476.9M
Total Assets $973.0M $533.7M $503.5M
YoY Change 71.59% 36.8% 52.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $54.64M $42.49M $36.89M
YoY Change 5.25% 100.4% 50.56%
Accrued Expenses $1.176M $0.00
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $281.0K $0.00
YoY Change
Total Short-Term Liabilities $59.09M $48.91M $42.75M
YoY Change 13.84% 126.02% 74.47%
LONG-TERM LIABILITIES
Long-Term Debt $366.9M $17.00M $0.00
YoY Change 828.92%
Other Long-Term Liabilities $17.48M $10.16M $9.800M
YoY Change 33.87% 23.84% 16.67%
Total Long-Term Liabilities $384.4M $27.16M $9.800M
YoY Change 631.42% 231.16% 16.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $59.09M $48.91M $42.75M
Total Long-Term Liabilities $384.4M $27.16M $9.800M
Total Liabilities $449.5M $76.07M $52.56M
YoY Change 330.28% 154.87% 59.28%
SHAREHOLDERS EQUITY
Retained Earnings -$2.859M -$25.28M -$30.97M
YoY Change -91.16% -31.4% -22.42%
Common Stock $67.99K $60.49K $60.39K
YoY Change 7.53% 11.72% 22.82%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $523.5M $457.6M $450.9M
YoY Change
Total Liabilities & Shareholders Equity $973.0M $533.7M $503.5M
YoY Change 71.59% 36.79% 52.61%

Cashflow Statement

Concept 2019 Q4 2018 Q3 2018 Q2
OPERATING ACTIVITIES
Net Income $5.027M $5.694M $4.720M
YoY Change -171.01% 85.23% 147.01%
Depreciation, Depletion And Amortization $14.54M $10.93M $9.144M
YoY Change 39.2% 12999.12% 11810.59%
Cash From Operating Activities $44.03M $18.72M $46.94M
YoY Change 139.9% 83.93% 561.13%
INVESTING ACTIVITIES
Capital Expenditures -$46.32M -$45.38M -$80.64M
YoY Change 11.98% 11.47% 60.1%
Acquisitions
YoY Change
Other Investing Activities $8.547M -$4.460K $100.0K
YoY Change
Cash From Investing Activities -$37.77M -$45.39M -$80.54M
YoY Change -8.68% 11.48% 59.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.848M 17.00M 0.000
YoY Change -117.02% -71.32% -100.0%
NET CHANGE
Cash From Operating Activities 44.03M 18.72M 46.94M
Cash From Investing Activities -37.77M -45.39M -80.54M
Cash From Financing Activities -3.848M 17.00M 0.000
Net Change In Cash 2.406M -9.666M -33.60M
YoY Change -690.88% -133.64% -22.37%
FREE CASH FLOW
Cash From Operating Activities $44.03M $18.72M $46.94M
Capital Expenditures -$46.32M -$45.38M -$80.64M
Free Cash Flow $90.35M $64.10M $127.6M
YoY Change 51.29% 25.97% 121.99%

Facts In Submission

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dei Document Fiscal Year Focus
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dei Entity File Number
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dei Entity Registrant Name
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RING ENERGY, INC.
dei Entity Incorporation State Country Code
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NV
dei Entity Tax Identification Number
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dei Security12b Title
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1007789
CY2018Q3 rei Stock Issued During Period Value Stock Options Cashless Exercised
StockIssuedDuringPeriodValueStockOptionsCashlessExercised
0
CY2018Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
-4051
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
5693628
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
457588766
us-gaap Net Income Loss
NetIncomeLoss
33353053
us-gaap Net Income Loss
NetIncomeLoss
16079068
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
41659494
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
28576057
us-gaap Accretion Expense
AccretionExpense
681386
us-gaap Accretion Expense
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493223
us-gaap Share Based Compensation
ShareBasedCompensation
2436035
us-gaap Share Based Compensation
ShareBasedCompensation
3091336
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-7498112
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
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us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
5145871
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
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us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
3066913
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
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us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
7095256
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
509116
CY2019Q3 us-gaap Oil And Gas Joint Interest Billing Receivables
OilAndGasJointInterestBillingReceivables
1464394
CY2018Q3 us-gaap Oil And Gas Joint Interest Billing Receivables
OilAndGasJointInterestBillingReceivables
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
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us-gaap Increase Decrease In Asset Retirement Obligations
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us-gaap Net Cash Provided By Used In Operating Activities
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62588212
us-gaap Net Cash Provided By Used In Operating Activities
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52004346
us-gaap Payments To Acquire Oil And Gas Property
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us-gaap Payments To Acquire Oil And Gas Property
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us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
122004117
us-gaap Payments To Explore And Develop Oil And Gas Properties
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rei Proceeds From Disposal Of Fixed Assets Subject To Depreciation
ProceedsFromDisposalOfFixedAssetsSubjectToDepreciation
0
rei Proceeds From Disposal Of Fixed Assets Subject To Depreciation
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-162055105
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
327000000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
17000000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
81815022
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
86686
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
0
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
326913314
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
98815022
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
4235363
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-11235737
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3363726
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
15006581
CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7599089
CY2018Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3770844
us-gaap Interest Paid Net
InterestPaidNet
5821545
us-gaap Interest Paid Net
InterestPaidNet
54652
us-gaap Asset Retirement Obligation Period Increase Decrease
AssetRetirementObligationPeriodIncreaseDecrease
602090
us-gaap Asset Retirement Obligation Period Increase Decrease
AssetRetirementObligationPeriodIncreaseDecrease
1058763
rei Operating Lease Assets Obtained In Exchange For New Operating Lease Liability
OperatingLeaseAssetsObtainedInExchangeForNewOperatingLeaseLiability
539577
rei Operating Lease Assets Obtained In Exchange For New Operating Lease Liability
OperatingLeaseAssetsObtainedInExchangeForNewOperatingLeaseLiability
0
rei Financing Lease Assets Obtained In Exchange For Financing Lease Liability
FinancingLeaseAssetsObtainedInExchangeForFinancingLeaseLiability
947435
rei Financing Lease Assets Obtained In Exchange For Financing Lease Liability
FinancingLeaseAssetsObtainedInExchangeForFinancingLeaseLiability
0
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
26958655
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
24000000
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
2864554
CY2018Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
0
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable
1234862
CY2018Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable
0
CY2019Q3 rei Business Combination Asset Retirement Obligations
BusinessCombinationAssetRetirementObligations
2979645
CY2018Q3 rei Business Combination Asset Retirement Obligations
BusinessCombinationAssetRetirementObligations
0
CY2019Q3 rei Stock Issued As Partial Consideration In Asset Acquisition
StockIssuedAsPartialConsiderationInAssetAcquisition
-28356396
CY2018Q3 rei Stock Issued As Partial Consideration In Asset Acquisition
StockIssuedAsPartialConsiderationInAssetAcquisition
0
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedEquipment
296910774
CY2018Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedEquipment
0
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Use of Estimates</span> – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Changes in the future estimated oil and natural gas reserves or the estimated future cash flows attributable to the reserves that are utilized for impairment analysis could have a significant impact on the Company’s future results of operations.</p>
CY2019Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
1877368
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
3066913
CY2018Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-566649
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-2456623
us-gaap Derivative Loss On Derivative
DerivativeLossOnDerivative
0
CY2019Q3 us-gaap Derivative Loss On Derivative
DerivativeLossOnDerivative
0
CY2018Q3 us-gaap Derivative Loss On Derivative
DerivativeLossOnDerivative
2722774
us-gaap Derivative Loss On Derivative
DerivativeLossOnDerivative
6600226
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Concentration of Credit Risk and Major Customer</span> – The Company had cash in excess of federally insured limits at September 30, 2019. During the nine months ended September 30, 2019, sales to two customers represented 39% and 38%, respectively, of the Company’s oil and gas revenues. At September 30, 2019, these two customers made up 41% and 34%, respectively, of the Company’s accounts receivable.</p><p style="font-family:'Times New Roman';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Approximately 90% of the Company’s accounts and joint interest billing receivables are from purchasers of oil and gas. Oil and gas sales are generally unsecured. The Company has not had any significant credit losses in the past and believes its accounts and joint interest billing receivables are fully collectable. Accordingly, no allowance for doubtful accounts has been provided at September 30, 2019. The Company also has joint interest billing receivable. Joint interest billing receivables are collateralized by the pro rata revenue attributable to the joint interest holders and further by the interest itself.</p>
CY2019Q3 rei Percentage Of Accounts Receivables
PercentageOfAccountsReceivables
0.90
CY2019Q3 rei Amortization Expense1
AmortizationExpense1
14115170
rei Amortization Expense1
AmortizationExpense1
41659494
CY2019Q3 rei Depletion At Rate Per Barrel
DepletionAtRatePerBarrel
13.42
rei Depletion At Rate Per Barrel
DepletionAtRatePerBarrel
14.18
CY2018Q3 rei Amortization Expense1
AmortizationExpense1
10930563
rei Amortization Expense1
AmortizationExpense1
28576057
CY2018Q3 rei Depletion At Rate Per Barrel
DepletionAtRatePerBarrel
18.10
rei Depletion At Rate Per Barrel
DepletionAtRatePerBarrel
17.32
CY2019Q3 us-gaap Depreciation
Depreciation
110120
us-gaap Depreciation
Depreciation
217551
CY2018Q3 us-gaap Depreciation
Depreciation
42418
us-gaap Depreciation
Depreciation
171604
CY2019Q3 rei Adjustment To Deferred Tax Asset For Change In Effective Tax Rate
AdjustmentToDeferredTaxAssetForChangeInEffectiveTaxRate
-673971
rei Adjustment To Deferred Tax Asset For Change In Effective Tax Rate
AdjustmentToDeferredTaxAssetForChangeInEffectiveTaxRate
-5145871
CY2018Q3 rei Adjustment To Deferred Tax Asset For Change In Effective Tax Rate
AdjustmentToDeferredTaxAssetForChangeInEffectiveTaxRate
-724073
rei Adjustment To Deferred Tax Asset For Change In Effective Tax Rate
AdjustmentToDeferredTaxAssetForChangeInEffectiveTaxRate
434530
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
311206
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
311206
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
132499
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0501
rei Operating Lease Imputed Interest Expense
OperatingLeaseImputedInterestExpense
1785
CY2019Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0526
CY2019Q3 rei Oil Revenue
OilRevenue
49502656
CY2018Q3 rei Oil Revenue
OilRevenue
31633777
rei Oil Revenue
OilRevenue
141174111
rei Oil Revenue
OilRevenue
89736822
CY2019Q3 rei Natural Gas Revenue
NaturalGasRevenue
836449
CY2018Q3 rei Natural Gas Revenue
NaturalGasRevenue
1053402
rei Natural Gas Revenue
NaturalGasRevenue
2297534
rei Natural Gas Revenue
NaturalGasRevenue
2766631
CY2019Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
50339105
CY2018Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
32687179
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
143471645
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
92503453
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
128175
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
42725
CY2019Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
77802
rei Finance Lease Imputed Interest Expense
FinanceLeaseImputedInterestExpense
71116
us-gaap Operating Lease Cost
OperatingLeaseCost
384525
us-gaap Short Term Lease Cost
ShortTermLeaseCost
461277
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
98868
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
15019
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
9888356
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
5693628
us-gaap Net Income Loss
NetIncomeLoss
33353053
us-gaap Net Income Loss
NetIncomeLoss
16079068
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67811127
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60405355
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
66149469
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59084300
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
67836968
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
61830381
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
66401422
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60567232
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.15
CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.09
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.50
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.27
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.15
CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.09
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.50
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.27
CY2019Q2 srt Gas And Oil Area Developed Gross
GasAndOilAreaDevelopedGross
49754
CY2019Q2 srt Gas And Oil Area Developed Net
GasAndOilAreaDevelopedNet
38230
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
4100000
CY2019Q3 us-gaap Proved Oil And Gas Property Successful Effort Method
ProvedOilAndGasPropertySuccessfulEffortMethod
296910774
CY2019Q3 us-gaap Oil And Gas Joint Interest Billing Receivables
OilAndGasJointInterestBillingReceivables
1464394
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
2864554
CY2017Q3 rei Number Of Barrels Per Day
NumberOfBarrelsPerDay
1000
CY2018Q4 rei Payments For Termination Of Derivative Contracts
PaymentsForTerminationOfDerivativeContracts
3438300
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable
1234862
CY2019Q3 rei Business Combination Asset Retirement Obligations
BusinessCombinationAssetRetirementObligations
2979645
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
297025215
CY2019Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
57004519
CY2018Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
51167164
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
150137059
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
142417436
CY2019Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
9948798
CY2018Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
14004402
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
33413495
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
38125515
CY2019Q3 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.15
CY2018Q3 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.23
us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.49
us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.63
CY2019Q3 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.15
CY2018Q3 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.22
us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.49
us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.61
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
103113
CY2019Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
1000000000
CY2019Q2 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
425000000
us-gaap Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
0.0000
CY2019Q3 us-gaap Line Of Credit
LineOfCredit
366500000
CY2018Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
13055797
rei Asset Retirement Obligation Liabilities Acquired
AssetRetirementObligationLiabilitiesAcquired
2979645
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
602090
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
615732
us-gaap Accretion Expense
AccretionExpense
681386
CY2019Q3 us-gaap Asset Retirement Obligation
AssetRetirementObligation
16703186
rei Share Based Compensation Arrangement By Share Based Payment Award Options Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercised
143000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
103113
rei Stock Option Exercised Shares Retained
StockOptionExercisedSharesRetained
39887
rei Stock Option Exercised Value Of Shares Retained
StockOptionExercisedValueOfSharesRetained
470750
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.29
CY2018Q3 us-gaap Share Price
SharePrice
11.80
CY2019Q3 rei Compensation Expenses Charged Against Income For Share Based Awards Included In General And Administrative Expenses
CompensationExpensesChargedAgainstIncomeForShareBasedAwardsIncludedInGeneralAndAdministrativeExpenses
792836
rei Compensation Expenses Charged Against Income For Share Based Awards Included In General And Administrative Expenses
CompensationExpensesChargedAgainstIncomeForShareBasedAwardsIncludedInGeneralAndAdministrativeExpenses
2436035
CY2018Q3 rei Compensation Expenses Charged Against Income For Share Based Awards Included In General And Administrative Expenses
CompensationExpensesChargedAgainstIncomeForShareBasedAwardsIncludedInGeneralAndAdministrativeExpenses
1007789
rei Compensation Expenses Charged Against Income For Share Based Awards Included In General And Administrative Expenses
CompensationExpensesChargedAgainstIncomeForShareBasedAwardsIncludedInGeneralAndAdministrativeExpenses
3091336
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
2500000
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
5000000
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
665160
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Per Share Weighted Average Price Of Shares Purchased
ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased
9.91
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Per Share Weighted Average Price Of Shares Purchased
ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased
1.64

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