$REI
Ring Energy Inc

2021 Q4 Form 10-Q Financial Statement

#000110465921136311 Filed on November 09, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $59.67M $49.38M $31.47M
YoY Change 90.32% 56.92% -37.49%
Cost Of Revenue $4.413M $1.051M $1.058M
YoY Change -52.79% -0.68% -93.16%
Gross Profit $55.25M $48.33M $30.41M
YoY Change 151.1% 58.92% -12.77%
Gross Profit Margin 92.6% 97.87% 96.64%
Selling, General & Admin $12.73M $11.50M $3.998M
YoY Change 34.33% 187.65% 3.57%
% of Gross Profit 23.03% 23.8% 13.15%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.47M $9.311M $10.83M
YoY Change -6.17% -14.01% -23.3%
% of Gross Profit 18.96% 19.27% 35.61%
Operating Expenses $23.38M $20.99M $15.06M
YoY Change 12.16% 39.44% -17.33%
Operating Profit $31.87M $24.39M $6.511M
YoY Change -124.82% 274.54% -54.6%
Interest Expense -$7.809M $3.551M $4.457M
YoY Change -51.77% -20.32% -2.18%
% of Operating Profit -24.5% 14.56% 68.46%
Other Income/Expense, Net $0.00 -$10.27M -$8.959M
YoY Change -100.0% 14.65% 234.41%
Pretax Income $24.06M $14.12M -$2.448M
YoY Change -117.3% -676.56% -120.99%
Income Tax -$51.60K -$48.70K -$486.6K
% Of Pretax Income -0.21% -0.35%
Net Earnings $24.11M $14.16M -$1.962M
YoY Change -115.05% -822.06% -122.14%
Net Earnings / Revenue 40.41% 28.69% -6.23%
Basic Earnings Per Share $0.14 -$0.03
Diluted Earnings Per Share $128.9K $0.12 -$0.03
COMMON SHARES
Basic Shares Outstanding 99.64M 99.36M 67.98M
Diluted Shares Outstanding 121.2M 67.98M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.408M $2.047M $17.92M
YoY Change -32.7% -88.58% 135.83%
Cash & Equivalents $2.408M $2.047M $17.92M
Short-Term Investments
Other Short-Term Assets $938.0K $1.299M $10.02M
YoY Change 136.81% -87.03% 69.92%
Inventory $0.00
Prepaid Expenses $938.0K $1.299M $498.6K
Receivables $24.03M $20.31M $12.49M
Other Receivables $2.434M $1.672M $2.365M
Total Short-Term Assets $29.81M $25.32M $42.79M
YoY Change 43.3% -40.82% 26.56%
LONG-TERM ASSETS
Property, Plant & Equipment $651.4M $650.1M $767.1M
YoY Change 1.97% -15.26% -16.57%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.713M $1.883M $25.37M
YoY Change -27.99% -92.58% 521.09%
Total Long-Term Assets $654.4M $653.3M $793.5M
YoY Change 1.82% -17.66% -14.09%
TOTAL ASSETS
Total Short-Term Assets $29.81M $25.32M $42.79M
Total Long-Term Assets $654.4M $653.3M $793.5M
Total Assets $684.2M $678.6M $836.2M
YoY Change 3.12% -18.85% -12.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $46.23M $45.26M $24.84M
YoY Change 42.26% 82.21% -52.06%
Accrued Expenses $290.8K $268.5K $814.4K
YoY Change -66.15% -67.03% 381.55%
Deferred Revenue $0.00
YoY Change
Short-Term Debt $586.4K $857.2K $0.00
YoY Change
Long-Term Debt Due $316.5K $385.9K $292.2K
YoY Change 7.18% 32.04% 7.24%
Total Short-Term Liabilities $76.67M $85.17M $25.95M
YoY Change 107.54% 228.27% -50.35%
LONG-TERM LIABILITIES
Long-Term Debt $290.3M $295.4M $360.2M
YoY Change -7.28% -17.99% -1.88%
Other Long-Term Liabilities $16.43M $22.27M $17.29M
YoY Change -11.77% 28.78% 3.54%
Total Long-Term Liabilities $306.8M $317.7M $377.5M
YoY Change -7.53% -15.85% -1.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $76.67M $85.17M $25.95M
Total Long-Term Liabilities $306.8M $317.7M $377.5M
Total Liabilities $383.5M $403.0M $403.4M
YoY Change 4.03% -0.11% -8.2%
SHAREHOLDERS EQUITY
Retained Earnings -$252.9M -$277.1M -$96.02M
YoY Change -1.3% 188.55% 1117.56%
Common Stock $100.2K $99.36K $67.98K
YoY Change 17.09% 46.15% 0.25%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $300.6M $275.6M $432.8M
YoY Change
Total Liabilities & Shareholders Equity $684.2M $678.6M $836.2M
YoY Change 3.12% -18.85% -12.65%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $24.11M $14.16M -$1.962M
YoY Change -115.05% -822.06% -122.14%
Depreciation, Depletion And Amortization $10.47M $9.311M $10.83M
YoY Change -6.17% -14.01% -23.3%
Cash From Operating Activities $23.21M $17.51M $14.72M
YoY Change -14.85% 18.99% -45.85%
INVESTING ACTIVITIES
Capital Expenditures -$17.37M -$12.65M -$3.456M
YoY Change 91.83% 266.02% -90.43%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $4.500M
YoY Change -100.0% -100.0%
Cash From Investing Activities -$17.37M -$12.65M $1.044M
YoY Change 28.15% -1310.99% -102.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.477M -5.488M -15.07M
YoY Change -80.47% -63.59% -353.83%
NET CHANGE
Cash From Operating Activities 23.21M 17.51M 14.72M
Cash From Investing Activities -17.37M -12.65M 1.044M
Cash From Financing Activities -5.477M -5.488M -15.07M
Net Change In Cash 361.4K -623.3K 691.0K
YoY Change -102.52% -190.2% -123.19%
FREE CASH FLOW
Cash From Operating Activities $23.21M $17.51M $14.72M
Capital Expenditures -$17.37M -$12.65M -$3.456M
Free Cash Flow $40.58M $30.16M $18.17M
YoY Change 11.75% 65.97% -71.28%

Facts In Submission

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CY2021Q1 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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355494
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CY2021Q1 us-gaap Stockholders Equity
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276151483
CY2021Q2 rei Stock And Warrants Issued During Period Value
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CY2021Q2 rei Stock Issued During Period Value Pre Funded Warrants Exercised
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CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
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CY2021Q2 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2021Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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351775
CY2021Q2 us-gaap Net Income Loss
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-15887159
CY2021Q2 us-gaap Stockholders Equity
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260696099
CY2021Q3 rei Stock And Warrants Issued During Period Value
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CY2021Q3 rei Stock Issued During Period Value Pre Funded Warrants Exercised
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CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
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0
CY2021Q3 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2021Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
777461
CY2021Q3 us-gaap Net Income Loss
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14163934
CY2021Q3 us-gaap Stockholders Equity
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275637494
CY2019Q4 us-gaap Stockholders Equity
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523509933
CY2020Q1 rei Stock And Warrants Issued During Period Value
StockAndWarrantsIssuedDuringPeriodValue
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CY2020Q1 rei Stock Issued During Period Value Pre Funded Warrants Exercised
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0
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
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CY2020Q1 us-gaap Stock Issued During Period Value Share Based Compensation
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0
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
673795
CY2020Q1 us-gaap Net Income Loss
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43804118
CY2020Q1 us-gaap Stockholders Equity
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567987846
CY2020Q2 rei Stock And Warrants Issued During Period Value
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CY2020Q2 rei Stock Issued During Period Value Pre Funded Warrants Exercised
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CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
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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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1317542
CY2020Q2 us-gaap Net Income Loss
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-135000066
CY2020Q2 us-gaap Stockholders Equity
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434201937
CY2020Q3 rei Stock And Warrants Issued During Period Value
StockAndWarrantsIssuedDuringPeriodValue
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CY2020Q3 rei Stock Issued During Period Value Pre Funded Warrants Exercised
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CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
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CY2020Q3 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2020Q3 us-gaap Adjustments Related To Tax Withholding For 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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CY2020Q3 us-gaap Net Income Loss
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CY2020Q3 us-gaap Stockholders Equity
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Depreciation Amortization And Accretion Net
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26693808
us-gaap Depreciation Amortization And Accretion Net
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31848093
us-gaap Impairment Of Long Lived Assets Held For Use
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0
us-gaap Impairment Of Long Lived Assets Held For Use
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147937943
us-gaap Accretion Expense
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560662
us-gaap Accretion Expense
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694113
us-gaap Amortization Of Financing Costs
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496533
us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
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2000000
us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
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4500000
us-gaap Net Cash Provided By Used In Investing Activities
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-33869724
us-gaap Net Cash Provided By Used In Investing Activities
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-30275770
us-gaap Proceeds From Lines Of Credit
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34400000
us-gaap Amortization Of Financing Costs
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567248
us-gaap Share Based Compensation
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1484730
us-gaap Share Based Compensation
ShareBasedCompensation
2557156
us-gaap Increase Decrease In Deferred Income Taxes
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-141943
us-gaap Increase Decrease In Deferred Income Taxes
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25573920
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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0
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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1579361
us-gaap Derivative Gain Loss On Derivative Net
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-73586199
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
32900767
rei Cash Received Paid For Derivative Settlements Net
CashReceivedPaidForDerivativeSettlementsNet
-33278132
rei Cash Received Paid For Derivative Settlements Net
CashReceivedPaidForDerivativeSettlementsNet
18814068
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5017078
us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Prepaid Expense
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902692
us-gaap Increase Decrease In Prepaid Expense
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-3483645
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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8329563
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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-17225782
us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
-1782779
us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
-428605
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
49523439
us-gaap Net Cash Provided By Used In Operating Activities
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44903306
us-gaap Payments To Acquire Oil And Gas Property
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579156
us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
1189433
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
34680935
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
33586337
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
609633
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
0
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
21500000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
52400000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
28000000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
241269
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
1233138
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
375987
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
76887
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
206936
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
211341
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-17185403
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-6711341
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1531688
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
7916195
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3578634
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10004622
us-gaap Interest Paid Net
InterestPaidNet
10622077
us-gaap Interest Paid Net
InterestPaidNet
12387670
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2046946
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
17920817
us-gaap Asset Retirement Obligation Period Increase Decrease
AssetRetirementObligationPeriodIncreaseDecrease
160285
us-gaap Asset Retirement Obligation Period Increase Decrease
AssetRetirementObligationPeriodIncreaseDecrease
66387
us-gaap Settlement Of Asset Retirement Obligations Through Noncash Payments Amount
SettlementOfAssetRetirementObligationsThroughNoncashPaymentsAmount
662704
us-gaap Settlement Of Asset Retirement Obligations Through Noncash Payments Amount
SettlementOfAssetRetirementObligationsThroughNoncashPaymentsAmount
0
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
153475
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
0
rei Asset Retirement Obligation Liabilities Properties Sold
AssetRetirementObligationLiabilitiesPropertiesSold
2934126
rei Asset Retirement Obligation Liabilities Properties Sold
AssetRetirementObligationLiabilitiesPropertiesSold
0
rei Capital Expenditures Incurred But Not Yet Paid1
CapitalExpendituresIncurredButNotYetPaid1
5921816
rei Capital Expenditures Incurred But Not Yet Paid1
CapitalExpendituresIncurredButNotYetPaid1
2600000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
839536
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
rei Right Of Use Asset Revision Of Estimate
RightOfUseAssetRevisionOfEstimate
621636
rei Right Of Use Asset Revision Of Estimate
RightOfUseAssetRevisionOfEstimate
0
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<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;">Reclassifications – </span>Certain prior period amounts relating to components of operating expense have been reclassified to conform to current year presentation within “Costs and Operating Expenses” in the Statements of Operations. Additionally, certain prior amounts associated with realized and unrealized gains (losses) have been reclassified within the Statements of Operations and Statements of Cash Flows to conform with current year presentation.</p>
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-40308067
CY2020Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-6228453
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>
CY2021Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
8200688
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
14086699
CY2021Q3 rei Cash Received Paid For Derivative Settlements Net
CashReceivedPaidForDerivativeSettlementsNet
-14921008
rei Cash Received Paid For Derivative Settlements Net
CashReceivedPaidForDerivativeSettlementsNet
-33278132
us-gaap Proceeds From Derivative Instrument Financing Activities
ProceedsFromDerivativeInstrumentFinancingActivities
581424
CY2020Q3 rei Cash Received Paid For Derivative Settlements Net
CashReceivedPaidForDerivativeSettlementsNet
1726373
rei Cash Received Paid For Derivative Settlements Net
CashReceivedPaidForDerivativeSettlementsNet
18814068
CY2021Q3 us-gaap Depreciation
Depreciation
120817
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 Customers</span> – The Company had $1,546,946 of cash on deposit in excess of federally insured limits at September 30, 2021 and $3,328,634 of cash in excess of federally insured limits at December 31, 2020. During the nine months ended September 30, 2021, sales to three customers represented 78%, 6% and 6%, respectively, of the Company’s oil and gas revenues. At September 30, 2021, these three customers made up 79%, 5% and 3%, 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 92% of the Company’s accounts receivables and joint interest billing receivables are from purchasers of oil and gas. Oil and gas sales are generally unsecured. The Company also has joint interest billing receivables which are collateralized by the pro rata revenue attributable to the joint interest holders and further by the interest itself. The Company has not had any significant credit losses in the past and believes its accounts and joint interest billing receivables are collectable. Accordingly, no material allowance for credit losses has been provided at September 30, 2021.</p>
CY2021Q3 us-gaap Cash Uninsured Amount
CashUninsuredAmount
1546946
CY2020Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
3328634
CY2021Q3 rei Percentage Of Accounts Receivables
PercentageOfAccountsReceivables
0.92
CY2020Q2 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
147937943
CY2021Q3 rei Amortization Expense1
AmortizationExpense1
9310524
rei Amortization Expense1
AmortizationExpense1
26693808
CY2021Q3 rei Depletion At Rate Per Barrel
DepletionAtRatePerBarrel
12.12
rei Depletion At Rate Per Barrel
DepletionAtRatePerBarrel
11.64
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
us-gaap Depreciation
Depreciation
276677
CY2020Q3 us-gaap Depreciation
Depreciation
88928
us-gaap Depreciation
Depreciation
289106
us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
0
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
141943
CY2021Q3 rei Oil Revenue
OilRevenue
45889548
CY2020Q3 rei Oil Revenue
OilRevenue
30327668
rei Oil Revenue
OilRevenue
126927318
rei Oil Revenue
OilRevenue
79379242
CY2021Q3 rei Natural Gas Revenue
NaturalGasRevenue
3486628
CY2020Q3 rei Natural Gas Revenue
NaturalGasRevenue
1138876
rei Natural Gas Revenue
NaturalGasRevenue
9711492
rei Natural Gas Revenue
NaturalGasRevenue
2294223
CY2021Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
49376176
CY2020Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
31466544
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
136638810
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
81673465
CY2021Q3 us-gaap Lessee Finance Lease Term Of Contract1
LesseeFinanceLeaseTermOfContract1
P36M
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
68132
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
349127
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
356991
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
376855
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
384719
CY2021Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
126889
CY2021Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
336206
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
215530
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
142354
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.045
rei Operating Lease Imputed Interest Expense
OperatingLeaseImputedInterestExpense
165167
CY2021Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.043
rei Finance Lease Imputed Interest Expense
FinanceLeaseImputedInterestExpense
39771
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
83589
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
295631
us-gaap Operating Lease Cost
OperatingLeaseCost
439896
us-gaap Operating Lease Cost
OperatingLeaseCost
876889
CY2021Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
964873
CY2020Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1205407
us-gaap Short Term Lease Cost
ShortTermLeaseCost
2903387
us-gaap Short Term Lease Cost
ShortTermLeaseCost
3347484
CY2021Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
85367
CY2020Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
71854
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
189831
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
215560
CY2021Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
5160
CY2020Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
7172
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67985168
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
121220748
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
67980961
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
99251532
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
14166
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
24022
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
14163934
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-1961603
us-gaap Net Income Loss
NetIncomeLoss
-20789318
us-gaap Net Income Loss
NetIncomeLoss
-93157551
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
99358504
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67980961
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
99251532
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
67985168
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.14
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.21
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.37
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.12
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.21
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.37
rei Asset Retirement Obligation Liabilities Properties Sold
AssetRetirementObligationLiabilitiesPropertiesSold
2934126
CY2021Q3 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
38402944
CY2020Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
3287328
CY2021Q3 us-gaap Derivative Instruments And Hedges Liabilities
DerivativeInstrumentsAndHedgesLiabilities
38402944
CY2020Q4 us-gaap Derivative Instruments And Hedges Liabilities
DerivativeInstrumentsAndHedgesLiabilities
3287328
CY2021Q3 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
6061724
CY2020Q4 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
869273
CY2021Q3 us-gaap Derivative Instruments And Hedges Liabilities Noncurrent
DerivativeInstrumentsAndHedgesLiabilitiesNoncurrent
6061724
CY2020Q4 us-gaap Derivative Instruments And Hedges Liabilities Noncurrent
DerivativeInstrumentsAndHedgesLiabilitiesNoncurrent
869273
CY2021Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-6720320
CY2020Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-4502080
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-73586199
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
32900767
CY2021Q3 rei Derivative Cost Of Hedge Net Of Cash Paid And Received
DerivativeCostOfHedgeNetOfCashPaidAndReceived
-14921008
CY2020Q3 rei Derivative Cost Of Hedge Net Of Cash Paid And Received
DerivativeCostOfHedgeNetOfCashPaidAndReceived
1726373
rei Derivative Cost Of Hedge Net Of Cash Paid And Received
DerivativeCostOfHedgeNetOfCashPaidAndReceived
-33287132
rei Derivative Cost Of Hedge Net Of Cash Paid And Received
DerivativeCostOfHedgeNetOfCashPaidAndReceived
18814068
CY2019Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
1000000000
CY2021Q2 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
350000000
us-gaap Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
0.0000
CY2021Q3 us-gaap Line Of Credit
LineOfCredit
295000000
CY2020Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
17117135
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
160285
rei Asset Retirement Obligation Liabilities Acquired
AssetRetirementObligationLiabilitiesAcquired
662704
rei Asset Retirement Obligation Liabilities Properties Sold
AssetRetirementObligationLiabilitiesPropertiesSold
2934126
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
153475
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
722005
us-gaap Accretion Expense
AccretionExpense
560662
CY2021Q3 us-gaap Asset Retirement Obligation
AssetRetirementObligation
14998130
rei Proceeds From Issuance Of Common Stock Gross
ProceedsFromIssuanceOfCommonStockGross
241269
CY2021Q3 rei Compensation Expenses Charged Against Income For Share Based Awards Included In General And Administrative Expenses
CompensationExpensesChargedAgainstIncomeForShareBasedAwardsIncludedInGeneralAndAdministrativeExpenses
777461
rei Compensation Expenses Charged Against Income For Share Based Awards Included In General And Administrative Expenses
CompensationExpensesChargedAgainstIncomeForShareBasedAwardsIncludedInGeneralAndAdministrativeExpenses
1484730
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
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
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
2265000
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.87
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2020Q2 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
768379
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
9900000
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
341155

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