$REI
Ring Energy Inc

2020 Q4 Form 10-Q Financial Statement

#000110465920123053 Filed on November 09, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $31.35M $31.47M $50.34M
YoY Change -39.98% -37.49% 54.0%
Cost Of Revenue $9.347M $1.058M $15.48M
YoY Change -34.94% -93.16% 114.44%
Gross Profit $22.00M $30.41M $34.86M
YoY Change -41.88% -12.77% 36.88%
Gross Profit Margin 70.19% 96.64% 69.25%
Selling, General & Admin $9.474M $3.998M $3.860M
YoY Change 84.52% 3.57% 20.43%
% of Gross Profit 43.06% 13.15% 11.07%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.16M $10.83M $14.12M
YoY Change -23.25% -23.3% 29.13%
% of Gross Profit 50.73% 35.61% 40.49%
Operating Expenses $20.85M $15.06M $18.21M
YoY Change 4.55% -17.33% 27.32%
Operating Profit -$128.4M $6.511M $14.34M
YoY Change -816.49% -54.6% 49.17%
Interest Expense -$16.19M $4.457M $4.557M
YoY Change 56.56% -2.18% 11028.64%
% of Operating Profit 68.46% 31.77%
Other Income/Expense, Net $5.500M -$8.959M -$2.679M
YoY Change 234.41% -19.41%
Pretax Income -$139.1M -$2.448M $11.66M
YoY Change -1935.38% -120.99% 85.41%
Income Tax $21.15M -$486.6K $2.805M
% Of Pretax Income 24.05%
Net Earnings -$160.3M -$1.962M $8.858M
YoY Change -3288.07% -122.14% 55.58%
Net Earnings / Revenue -511.15% -6.23% 17.6%
Basic Earnings Per Share -$1.83 -$0.03 $0.13
Diluted Earnings Per Share -$1.83 -$0.03 $0.13
COMMON SHARES
Basic Shares Outstanding 81.67M 67.98M 67.81M
Diluted Shares Outstanding 67.98M 67.84M

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.579M $17.92M $7.599M
YoY Change -64.23% 135.83% 101.52%
Cash & Equivalents $3.579M $17.92M $7.599M
Short-Term Investments
Other Short-Term Assets $396.1K $10.02M $5.895M
YoY Change -90.05% 69.92% 1454.85%
Inventory
Prepaid Expenses $396.1K $498.6K $3.340M
Receivables $15.00M $12.49M $18.29M
Other Receivables $1.827M $2.365M $2.025M
Total Short-Term Assets $20.80M $42.79M $33.81M
YoY Change -46.27% 26.56% 92.08%
LONG-TERM ASSETS
Property, Plant & Equipment $638.8M $767.1M $919.5M
YoY Change -31.26% -16.57% 80.59%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.379M $25.37M $4.084M
YoY Change -25.98% 521.09% -40.83%
Total Long-Term Assets $642.7M $793.5M $923.5M
YoY Change -31.22% -14.09% 78.96%
TOTAL ASSETS
Total Short-Term Assets $20.80M $42.79M $33.81M
Total Long-Term Assets $642.7M $793.5M $923.5M
Total Assets $663.5M $836.2M $957.4M
YoY Change -31.81% -12.65% 79.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $32.50M $24.84M $51.81M
YoY Change -40.51% -52.06% 21.96%
Accrued Expenses $859.0K $814.4K $169.1K
YoY Change -26.95% 381.55%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $295.3K $292.2K $272.5K
YoY Change 5.1% 7.24%
Total Short-Term Liabilities $36.94M $25.95M $52.26M
YoY Change -37.48% -50.35% 6.84%
LONG-TERM LIABILITIES
Long-Term Debt $313.1M $360.2M $367.1M
YoY Change -14.66% -1.88% 2059.34%
Other Long-Term Liabilities $18.62M $17.29M $16.70M
YoY Change 6.54% 3.54% 64.48%
Total Long-Term Liabilities $331.7M $377.5M $383.8M
YoY Change -13.7% -1.64% 1313.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $36.94M $25.95M $52.26M
Total Long-Term Liabilities $331.7M $377.5M $383.8M
Total Liabilities $368.7M $403.4M $439.5M
YoY Change -17.98% -8.2% 477.78%
SHAREHOLDERS EQUITY
Retained Earnings -$256.3M -$96.02M -$7.886M
YoY Change 8862.59% 1117.56% -68.8%
Common Stock $85.57K $67.98K $67.81K
YoY Change 25.85% 0.25% 12.1%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $294.8M $432.8M $517.9M
YoY Change
Total Liabilities & Shareholders Equity $663.5M $836.2M $957.4M
YoY Change -31.81% -12.65% 79.4%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income -$160.3M -$1.962M $8.858M
YoY Change -3288.07% -122.14% 55.58%
Depreciation, Depletion And Amortization $11.16M $10.83M $14.12M
YoY Change -23.25% -23.3% 29.13%
Cash From Operating Activities $27.26M $14.72M $27.18M
YoY Change -38.09% -45.85% 45.14%
INVESTING ACTIVITIES
Capital Expenditures -$9.055M -$3.456M -$36.09M
YoY Change -80.45% -90.43% -20.46%
Acquisitions
YoY Change
Other Investing Activities -$4.500M $4.500M
YoY Change -152.65%
Cash From Investing Activities -$13.55M $1.044M -$36.09M
YoY Change -64.12% -102.89% -20.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -28.04M -15.07M 5.937M
YoY Change 628.71% -353.83% -65.06%
NET CHANGE
Cash From Operating Activities 27.26M 14.72M 27.18M
Cash From Investing Activities -13.55M 1.044M -36.09M
Cash From Financing Activities -28.04M -15.07M 5.937M
Net Change In Cash -14.34M 691.0K -2.980M
YoY Change -696.21% -123.19% -69.17%
FREE CASH FLOW
Cash From Operating Activities $27.26M $14.72M $27.18M
Capital Expenditures -$9.055M -$3.456M -$36.09M
Free Cash Flow $36.31M $18.17M $63.27M
YoY Change -59.81% -71.28% -1.3%

Facts In Submission

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CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2020Q2 rei Return Of Common Stock Issued As Consideration In Asset Acquisition
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CY2020Q2 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2020Q3 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2018Q4 us-gaap Stockholders Equity
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CY2019Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2019Q1 us-gaap Net Income Loss
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CY2019Q1 us-gaap Stockholders Equity
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CY2019Q2 us-gaap Stock Issued During Period Value Purchase Of Assets
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CY2019Q2 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2019Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2019Q2 us-gaap Net Income Loss
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CY2019Q2 us-gaap Stockholders Equity
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CY2019Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2019Q3 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2019Q3 us-gaap Net Income Loss
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CY2019Q3 us-gaap Stockholders Equity
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us-gaap Net Income Loss
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us-gaap Depreciation Amortization And Accretion Net
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us-gaap Impairment Of Long Lived Assets Held For Use
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us-gaap Impairment Of Long Lived Assets Held For Use
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us-gaap Accretion Expense
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us-gaap Accretion Expense
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us-gaap Amortization Of Financing Costs
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us-gaap Derivative Gain Loss On Derivative Net
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us-gaap Increase Decrease In Prepaid Expense
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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
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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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us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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us-gaap Asset Retirement Obligation Period Increase Decrease
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2019Q3 rei Stock Issued As Partial Consideration In Asset Acquisition
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CY2020Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Equipment
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CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedEquipment
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us-gaap Net Cash Provided By Used In Operating Activities
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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 Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
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us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
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us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
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us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-30275770
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
21500000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
327000000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
28000000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
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us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
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us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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us-gaap Interest Paid Net
InterestPaidNet
12387670
us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Asset Retirement Obligation Period Increase Decrease
AssetRetirementObligationPeriodIncreaseDecrease
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us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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CY2020Q3 us-gaap Oil And Gas Joint Interest Billing Receivables
OilAndGasJointInterestBillingReceivables
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CY2019Q3 us-gaap Oil And Gas Joint Interest Billing Receivables
OilAndGasJointInterestBillingReceivables
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CY2020Q3 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 Assets Prepaid Expense And Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
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CY2020Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable
0
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable
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CY2020Q3 rei Business Combination Asset Retirement Obligations
BusinessCombinationAssetRetirementObligations
0
CY2019Q3 rei Business Combination Asset Retirement Obligations
BusinessCombinationAssetRetirementObligations
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CY2020Q3 rei Stock Issued As Partial Consideration In Asset Acquisition
StockIssuedAsPartialConsiderationInAssetAcquisition
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us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';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 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.  The Company’s unaudited condensed financial statements are based on a number of significant estimates, including estimates of oil and natural gas reserve quantities, which are the basis for the calculation of depletion and impairment of oil and gas properties.  Reserve estimates, by their nature, are inherently imprecise.  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>
CY2020Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-6228453
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
14086699
CY2019Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
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us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
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CY2020Q3 us-gaap Derivative Gain On Derivative
DerivativeGainOnDerivative
1726373
us-gaap Derivative Gain On Derivative
DerivativeGainOnDerivative
18814068
us-gaap Derivative Gain On Derivative
DerivativeGainOnDerivative
0
CY2019Q3 us-gaap Derivative Gain On Derivative
DerivativeGainOnDerivative
0
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';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, 2020.  During the nine months ended September 30, 2020, sales to two customers represented 64% and 14%, respectively, of the Company’s oil and gas revenues.  At September 30, 2020, these two customers made up 85% and 0%, respectively, of the Company’s accounts receivable.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Approximately 95% 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, 2020.  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>
CY2020Q3 rei Percentage Of Accounts Receivables
PercentageOfAccountsReceivables
0.95
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
147937943
CY2020Q3 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2019Q3 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2020Q3 rei Amortization Expense1
AmortizationExpense1
10826989
rei Amortization Expense1
AmortizationExpense1
31848093
CY2020Q3 rei Depletion At Rate Per Barrel
DepletionAtRatePerBarrel
12.22
rei Depletion At Rate Per Barrel
DepletionAtRatePerBarrel
13.37
CY2019Q3 rei Amortization Expense1
AmortizationExpense1
14115170
rei Amortization Expense1
AmortizationExpense1
41659494
rei Depletion At Rate Per Barrel
DepletionAtRatePerBarrel
14.18
CY2020Q3 us-gaap Depreciation
Depreciation
88928
us-gaap Depreciation
Depreciation
289106
CY2019Q3 us-gaap Depreciation
Depreciation
110120
us-gaap Depreciation
Depreciation
217551
CY2020Q3 rei Oil Revenue
OilRevenue
30327668
CY2019Q3 rei Oil Revenue
OilRevenue
49502656
rei Oil Revenue
OilRevenue
79379242
rei Oil Revenue
OilRevenue
141174111
CY2020Q3 rei Natural Gas Revenue
NaturalGasRevenue
1138876
CY2019Q3 rei Natural Gas Revenue
NaturalGasRevenue
836449
rei Natural Gas Revenue
NaturalGasRevenue
2294223
rei Natural Gas Revenue
NaturalGasRevenue
2297534
CY2020Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
31466544
CY2019Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
50339105
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
81673465
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
143471645
CY2020Q3 us-gaap Lessee Finance Lease Term Of Contract1
LesseeFinanceLeaseTermOfContract1
P36M
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
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CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
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CY2020Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
77802
CY2020Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
311206
CY2020Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
132499
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0449
rei Operating Lease Imputed Interest Expense
OperatingLeaseImputedInterestExpense
27432
CY2020Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0526
rei Finance Lease Imputed Interest Expense
FinanceLeaseImputedInterestExpense
27752
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-1961603
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
8858000
us-gaap Net Income Loss
NetIncomeLoss
-93157551
us-gaap Net Income Loss
NetIncomeLoss
24469857
us-gaap Operating Lease Cost
OperatingLeaseCost
876889
us-gaap Operating Lease Cost
OperatingLeaseCost
384525
us-gaap Short Term Lease Cost
ShortTermLeaseCost
3347484
us-gaap Short Term Lease Cost
ShortTermLeaseCost
461277
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
215560
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
98868
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
24022
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
15019
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67980961
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67811127
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67985168
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
66149469
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
67980961
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
67836968
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
67985168
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
66401422
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.13
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.37
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.37
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.03
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.37
CY2019Q3 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.13
us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.36
CY2019Q3 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.13
us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.36
CY2020Q2 rei Cash Payment Receipt On Unwound Costless Collars
CashPaymentReceiptOnUnwoundCostlessCollars
5435136
CY2019Q2 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
375000000
us-gaap Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
0.0000
CY2020Q3 us-gaap Line Of Credit
LineOfCredit
360000000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.37
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
CY2019Q1 us-gaap Proved Oil And Gas Property Successful Effort Method
ProvedOilAndGasPropertySuccessfulEffortMethod
296910774
CY2019Q1 us-gaap Oil And Gas Joint Interest Billing Receivables
OilAndGasJointInterestBillingReceivables
1464394
CY2019Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
2864554
CY2019Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable
1234862
CY2019Q1 rei Business Combination Asset Retirement Obligations
BusinessCombinationAssetRetirementObligations
2979645
CY2019Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
297025215
CY2019Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
57004519
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
150137059
CY2019Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
8918442
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
24530299
CY2020Q2 rei Cash Payment Receipt On Unwound Costless Collars
CashPaymentReceiptOnUnwoundCostlessCollars
5435136
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
66387
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
428605
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
694113
CY2020Q3 us-gaap Asset Retirement Obligation
AssetRetirementObligation
17119114
CY2019Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
16787219
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
2265000
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.87
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
768379
CY2020Q3 rei Compensation Expenses Charged Against Income For Share Based Awards Included In General And Administrative Expenses
CompensationExpensesChargedAgainstIncomeForShareBasedAwardsIncludedInGeneralAndAdministrativeExpenses
565819
CY2020Q3 rei Compensation Expenses Charged Against Income For Share Based Awards Included In General And Administrative Expenses
CompensationExpensesChargedAgainstIncomeForShareBasedAwardsIncludedInGeneralAndAdministrativeExpenses
565819
rei Compensation Expenses Charged Against Income For Share Based Awards Included In General And Administrative Expenses
CompensationExpensesChargedAgainstIncomeForShareBasedAwardsIncludedInGeneralAndAdministrativeExpenses
2557156
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
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
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
2303155

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