$REI
RING ENERGY, INC.

2022 Q3 Form 10-Q Financial Statement

#000110465922086191 Filed on August 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $94.41M $84.96M $68.18M
YoY Change 91.2% 77.89% 72.6%
Cost Of Revenue $5.763M $549.4K $1.297M
YoY Change 448.24% -38.76% 38.7%
Gross Profit $88.65M $84.41M $66.88M
YoY Change 83.44% 80.13% 73.42%
Gross Profit Margin 93.9% 99.35% 98.1%
Selling, General & Admin $20.51M $14.22M $14.56M
YoY Change 78.32% 26.19% 27.59%
% of Gross Profit 23.13% 16.84% 21.77%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $14.32M $10.75M $9.781M
YoY Change 53.85% 15.89% 20.64%
% of Gross Profit 16.16% 12.73% 14.62%
Operating Expenses $35.07M $25.15M $24.53M
YoY Change 67.07% 21.36% 24.43%
Operating Profit $53.57M $54.15M $38.19M
YoY Change 119.67% 133.06% 134.78%
Interest Expense $7.021M $3.279M $3.398M
YoY Change 97.7% -10.27% -9.18%
% of Operating Profit 13.11% 6.06% 8.9%
Other Income/Expense, Net $25.83M -$10.74M -$30.99M
YoY Change -351.46% -72.42% -12.27%
Pretax Income $79.40M $43.42M $7.191M
YoY Change 462.52% -376.6% -137.72%
Income Tax $4.316M $1.472M $78.75K
% Of Pretax Income 5.44% 3.39% 1.1%
Net Earnings $75.09M $41.94M $7.112M
YoY Change 430.12% -364.01% -137.3%
Net Earnings / Revenue 79.53% 49.37% 10.43%
Basic Earnings Per Share $0.65 $0.39 $0.07
Diluted Earnings Per Share $0.49 $0.32 $0.06
COMMON SHARES
Basic Shares Outstanding 107.2M 106.4M 100.2M
Diluted Shares Outstanding 151.8M 130.6M 124.0M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $890.6K $2.223M $2.139M
YoY Change -56.49% -16.74% 25.8%
Cash & Equivalents $890.6K $2.223M $2.139M
Short-Term Investments
Other Short-Term Assets $16.57M $4.559M $735.1K
YoY Change 1175.68% 188.97% 218.37%
Inventory
Prepaid Expenses $735.1K
Receivables $45.86M $39.50M $35.25M
Other Receivables $1.897M $1.350M $1.285M
Total Short-Term Assets $65.22M $47.63M $39.41M
YoY Change 157.54% 71.1% 59.1%
LONG-TERM ASSETS
Property, Plant & Equipment $1.154B $694.4M $661.9M
YoY Change 77.59% 7.75% 3.22%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $30.58M $2.110M $1.514M
YoY Change 1523.94% 2.99% -31.06%
Total Long-Term Assets $1.186B $697.6M $664.6M
YoY Change 81.56% 7.68% 2.95%
TOTAL ASSETS
Total Short-Term Assets $65.22M $47.63M $39.41M
Total Long-Term Assets $1.186B $697.6M $664.6M
Total Assets $1.251B $745.2M $704.1M
YoY Change 84.39% 10.29% 5.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $86.82M $64.26M $54.26M
YoY Change 91.83% 45.63% 31.11%
Accrued Expenses $306.7K $301.3K $296.0K
YoY Change 14.23% 39.04% -58.88%
Deferred Revenue
YoY Change
Short-Term Debt $877.6K $894.3K $219.0K
YoY Change 2.39% 17.96%
Long-Term Debt Due $406.9K $407.0K $247.9K
YoY Change 5.45% 57.0% -12.52%
Total Short-Term Liabilities $126.7M $98.57M $97.76M
YoY Change 48.79% 12.16% 46.05%
LONG-TERM LIABILITIES
Long-Term Debt $435.6M $270.7M $280.3M
YoY Change 47.45% -9.93% -8.27%
Other Long-Term Liabilities $39.07M $16.36M $16.59M
YoY Change 75.41% -38.1% -23.59%
Total Long-Term Liabilities $474.6M $287.0M $296.9M
YoY Change 49.41% -12.21% -9.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $126.7M $98.57M $97.76M
Total Long-Term Liabilities $474.6M $287.0M $296.9M
Total Liabilities $607.3M $387.2M $394.8M
YoY Change 50.7% -6.69% 0.15%
SHAREHOLDERS EQUITY
Retained Earnings -$128.8M -$203.9M -$245.8M
YoY Change -53.51% -29.99% -10.71%
Common Stock $131.6K $107.2K $100.2K
YoY Change 32.43% 7.94% 0.92%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $506.2M $358.0M $309.3M
YoY Change
Total Liabilities & Shareholders Equity $1.251B $745.2M $704.1M
YoY Change 84.39% 10.29% 5.03%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income $75.09M $41.94M $7.112M
YoY Change 430.12% -364.01% -137.3%
Depreciation, Depletion And Amortization $14.32M $10.75M $9.781M
YoY Change 53.85% 15.89% 20.64%
Cash From Operating Activities $68.17M $40.72M $24.44M
YoY Change 289.28% 149.48% 55.79%
INVESTING ACTIVITIES
Capital Expenditures -$34.66M -$36.26M -$14.23M
YoY Change 174.01% 228.3% 16.87%
Acquisitions $0.00
YoY Change
Other Investing Activities -$183.4M $151.2K $8.500K
YoY Change -99.58%
Cash From Investing Activities -$218.0M -$36.11M -$14.22M
YoY Change 1623.71% 226.93% 39.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 148.5M -4.531M -10.49M
YoY Change -2806.13% 5.16% 41.93%
NET CHANGE
Cash From Operating Activities 68.17M 40.72M 24.44M
Cash From Investing Activities -218.0M -36.11M -14.22M
Cash From Financing Activities 148.5M -4.531M -10.49M
Net Change In Cash -1.333M 84.07K -269.1K
YoY Change 113.82% -91.33% -85.67%
FREE CASH FLOW
Cash From Operating Activities $68.17M $40.72M $24.44M
Capital Expenditures -$34.66M -$36.26M -$14.23M
Free Cash Flow $102.8M $76.98M $38.67M
YoY Change 240.94% 181.29% 38.78%

Facts In Submission

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RING ENERGY, INC.
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300624207
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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1521910
CY2022Q1 us-gaap Net Income Loss
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7112043
CY2022Q1 us-gaap Stockholders Equity
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309258160
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
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5163126
CY2022Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
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CY2022Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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0
CY2022Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0
CY2022Q2 rei Share Based Payment Arrangement Values Withheld For Tax Withholding Obligation With Restricted Stock Vested
ShareBasedPaymentArrangementValuesWithheldForTaxWithholdingObligationWithRestrictedStockVested
0
CY2022Q2 rei Adjustment To Additional Paid In Capital Payment To Cover Tax Withholdings Income Tax Effect
AdjustmentToAdditionalPaidInCapitalPaymentToCoverTaxWithholdingsIncomeTaxEffect
-257694
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1899245
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
41944422
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
358007259
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
294765813
CY2021Q1 rei Stock And Warrants Issued During Period Value
StockAndWarrantsIssuedDuringPeriodValue
-65000
CY2021Q1 rei Stock Issued During Period Value Pre Funded Warrants Exercised
StockIssuedDuringPeriodValuePreFundedWarrantsExercised
13429
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
147840
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
5163126
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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6847979
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-19066093
CY2021Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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8659118
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
355494
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
2267717
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
1181562
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
276151483
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
80000
CY2021Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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0
CY2021Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
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CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
351775
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-15887159
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
260696099
us-gaap Net Income Loss
NetIncomeLoss
49056465
us-gaap Net Income Loss
NetIncomeLoss
-34953252
us-gaap Depreciation Amortization And Accretion Net
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20530490
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
17383284
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
374545
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
377757
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
388548
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
330251
us-gaap Share Based Compensation
ShareBasedCompensation
3421155
us-gaap Share Based Compensation
ShareBasedCompensation
707269
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-1550961
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
1744175
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
-1934819
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-35053159
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-66865879
rei Cash Received Paid For Derivative Settlements Net
CashReceivedPaidForDerivativeSettlementsNet
-33732766
rei Cash Received Paid For Derivative Settlements Net
CashReceivedPaidForDerivativeSettlementsNet
-18357124
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
14393828
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
6673307
us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
-1666576
us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
-1338277
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
65162415
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
32010680
us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
743851
us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
437688
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
49654172
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
22723018
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
91760
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
60903
rei Sale Of Fixed Assets Subject To Depreciation
SaleOfFixedAssetsSubjectToDepreciation
134600
rei Sale Of Fixed Assets Subject To Depreciation
SaleOfFixedAssetsSubjectToDepreciation
0
us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
25066
us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
2000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-50330117
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-21221609
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
50500000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
19900000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
70500000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
241269
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
11181178
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
4460973
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
257694
rei Asset Retirement Obligation Liabilities Properties Sold
AssetRetirementObligationLiabilitiesPropertiesSold
2934126
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
928626
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
909467
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
620741
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
151317
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
76887
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
230642
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
119995
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-15017325
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-11697463
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-185027
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-908392
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2408316
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3578634
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2223289
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2670242
us-gaap Interest Paid Net
InterestPaidNet
6228393
us-gaap Interest Paid Net
InterestPaidNet
7202818
us-gaap Asset Retirement Obligation Period Increase Decrease
AssetRetirementObligationPeriodIncreaseDecrease
122206
us-gaap Asset Retirement Obligation Period Increase Decrease
AssetRetirementObligationPeriodIncreaseDecrease
48662
rei Acquisition Of Asset Retirement Obligations Through Non Cash Payments Amount
AcquisitionOfAssetRetirementObligationsThroughNonCashPaymentsAmount
0
rei Acquisition Of Asset Retirement Obligations Through Non Cash Payments Amount
AcquisitionOfAssetRetirementObligationsThroughNonCashPaymentsAmount
662705
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
0
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
153475
rei Asset Retirement Obligation Liabilities Properties Sold
AssetRetirementObligationLiabilitiesPropertiesSold
0
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
839536
rei Right Of Use Asset Revision Of Estimate
RightOfUseAssetRevisionOfEstimate
0
rei Right Of Use Asset Revision Of Estimate
RightOfUseAssetRevisionOfEstimate
621636
us-gaap Depreciation And Amortization
DepreciationAndAmortization
155860
CY2021Q2 rei Oil Revenue
OilRevenue
45653189
rei Oil Revenue
OilRevenue
143119163
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>
CY2022Q2 rei Unrealized Gain Loss On Derivative Contracts Net
UnrealizedGainLossOnDerivativeContractsNet
12160246
rei Unrealized Gain Loss On Derivative Contracts Net
UnrealizedGainLossOnDerivativeContractsNet
-1320393
CY2021Q2 rei Unrealized Gain Loss On Derivative Contracts Net
UnrealizedGainLossOnDerivativeContractsNet
-22840907
rei Unrealized Gain Loss On Derivative Contracts Net
UnrealizedGainLossOnDerivativeContractsNet
-48508755
CY2022Q2 rei Cash Received Paid For Derivative Settlements Net
CashReceivedPaidForDerivativeSettlementsNet
-19617265
rei Cash Received Paid For Derivative Settlements Net
CashReceivedPaidForDerivativeSettlementsNet
-33732766
CY2021Q2 rei Cash Received Paid For Derivative Settlements Net
CashReceivedPaidForDerivativeSettlementsNet
-12436333
rei Cash Received Paid For Derivative Settlements Net
CashReceivedPaidForDerivativeSettlementsNet
-18357124
CY2021Q1 us-gaap Derivative Gain On Derivative
DerivativeGainOnDerivative
581424
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 $1,765,827 of cash on deposit in excess of federally insured limits at June 30, 2022 and $1,936,805 of cash in excess of federally insured limits at December 31, 2021. During the six months ended June 30, 2022, sales to three customers represented 70%, 15% and 4%, respectively, of the Company’s oil and gas revenues. At June 30, 2022, these three customers made up 70%, 14% and 4%, 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 97% 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. Accounts receivable from joint interest owners or purchasers outstanding longer than the contractual payment terms are considered past due.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 June 30, 2022.</p>
CY2022Q2 us-gaap Cash Uninsured Amount
CashUninsuredAmount
1765827
CY2021Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
1936805
CY2022Q2 rei Percentage Of Accounts Receivables
PercentageOfAccountsReceivables
0.97
CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
10749204
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
20530491
CY2022Q2 rei Depletion At Rate Per Barrel
DepletionAtRatePerBarrel
12.51
rei Depletion At Rate Per Barrel
DepletionAtRatePerBarrel
12.28
CY2021Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
9275126
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
17383284
CY2021Q2 rei Depletion At Rate Per Barrel
DepletionAtRatePerBarrel
11.58
rei Depletion At Rate Per Barrel
DepletionAtRatePerBarrel
11.42
CY2022Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
119417
us-gaap Depreciation And Amortization
DepreciationAndAmortization
276087
CY2021Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
94890
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
87262634
CY2021Q2 rei Natural Gas Revenue
NaturalGasRevenue
2106913
rei Oil Revenue
OilRevenue
81037770
CY2022Q2 rei Natural Gas Revenue
NaturalGasRevenue
5273339
us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
1014048
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
536913
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
190644
CY2022Q2 us-gaap Lessee Finance Lease Term Of Contract1
LesseeFinanceLeaseTermOfContract1
P36M
CY2022Q2 rei Oil Revenue
OilRevenue
79688536
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.35
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.32
CY2022Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
84961875
CY2021Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
47760102
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
153142907
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
117889
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
148701
CY2022Q2 rei Lessee Operating Lease Liability Payments Due Net Of Imputed Interest
LesseeOperatingLeaseLiabilityPaymentsDueNetOfImputedInterest
1285334
CY2021Q4 rei Lessee Operating Lease Liability Payments Due Net Of Imputed Interest
LesseeOperatingLeaseLiabilityPaymentsDueNetOfImputedInterest
1429085
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
174563
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
356991
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
376855
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
384719
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
110096
CY2022Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
223365
CY2022Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
438328
CY2022Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
372056
CY2022Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
99796
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0450
rei Operating Lease Imputed Interest Expense
OperatingLeaseImputedInterestExpense
117889
CY2022Q2 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P3Y9M18D
CY2022Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0400
rei Finance Lease Imputed Interest Expense
FinanceLeaseImputedInterestExpense
59058
CY2022Q2 us-gaap Lessee Finance Lease Remaining Lease Term
LesseeFinanceLeaseRemainingLeaseTerm
P2Y7M28D
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
301339
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
290766
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
983995
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1138319
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
1285334
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1429085
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1403223
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1577786
CY2022Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
407031
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.16
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.39
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.35
CY2021Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
316514
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
9006
CY2021 rei Proceeds From Issuance Of Common Stock Gross
ProceedsFromIssuanceOfCommonStockGross
367509
CY2022Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
667456
CY2021Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
343727
CY2022Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
1074487
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
660241
CY2022Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
1133545
CY2021Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
692091
CY2022Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
59058
CY2021Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
31850
CY2022Q2 rei Finance Lease Liability To Be Paid Net Of Imputed Interest
FinanceLeaseLiabilityToBePaidNetOfImputedInterest
1074487
CY2021Q4 rei Finance Lease Liability To Be Paid Net Of Imputed Interest
FinanceLeaseLiabilityToBePaidNetOfImputedInterest
660241
CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
83590
CY2021Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
84790
us-gaap Operating Lease Expense
OperatingLeaseExpense
167180
us-gaap Operating Lease Expense
OperatingLeaseExpense
356307
CY2022Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
581799
CY2021Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1046025
us-gaap Short Term Lease Cost
ShortTermLeaseCost
1297602
us-gaap Short Term Lease Cost
ShortTermLeaseCost
1938514
CY2022Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
110850
CY2021Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
68625
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
227465
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
104464
CY2022Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
7280
CY2021Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
4078
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
13793
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
41944422
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-15887159
us-gaap Net Income Loss
NetIncomeLoss
49056465
us-gaap Net Income Loss
NetIncomeLoss
-34953252
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
106390776
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
99300458
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
103291669
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
99197160
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
130597589
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
99300458
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
126251705
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
99197160
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.39
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.16
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.47
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
5000000
CY2022Q2 rei Derivative Cost Of Hedge Net Of Cash Paid And Received
DerivativeCostOfHedgeNetOfCashPaidAndReceived
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rei Asset Retirement Obligation Liabilities Properties Sold
AssetRetirementObligationLiabilitiesPropertiesSold
2934126
CY2022Q2 us-gaap Commodity Contract Asset Current
CommodityContractAssetCurrent
1353196
CY2022Q2 us-gaap Derivative Instruments And Hedges
DerivativeInstrumentsAndHedges
1353196
CY2022Q2 us-gaap Commodity Contract Asset Noncurrent
CommodityContractAssetNoncurrent
785389
CY2022Q2 us-gaap Derivative Instruments And Hedges Noncurrent
DerivativeInstrumentsAndHedgesNoncurrent
785389
CY2022Q2 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
32700566
CY2021Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
29241588
CY2022Q2 us-gaap Derivative Instruments And Hedges Liabilities
DerivativeInstrumentsAndHedgesLiabilities
32700566
CY2021Q4 us-gaap Derivative Instruments And Hedges Liabilities
DerivativeInstrumentsAndHedgesLiabilities
29241588
CY2022Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-7457018
CY2021Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
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us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-35053159
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-66865879
CY2021Q4 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
350000000
us-gaap Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
0.0000
CY2022Q2 us-gaap Line Of Credit
LineOfCredit
270000000
CY2022Q2 rei Compensation Expenses Charged Against Income For Share Based Awards Included In General And Administrative Expenses
CompensationExpensesChargedAgainstIncomeForShareBasedAwardsIncludedInGeneralAndAdministrativeExpenses
1899245
rei Compensation Expenses Charged Against Income For Share Based Awards Included In General And Administrative Expenses
CompensationExpensesChargedAgainstIncomeForShareBasedAwardsIncludedInGeneralAndAdministrativeExpenses
3421155
CY2021Q2 rei Derivative Cost Of Hedge Net Of Cash Paid And Received
DerivativeCostOfHedgeNetOfCashPaidAndReceived
-12436333
rei Derivative Cost Of Hedge Net Of Cash Paid And Received
DerivativeCostOfHedgeNetOfCashPaidAndReceived
-33732766
rei Derivative Cost Of Hedge Net Of Cash Paid And Received
DerivativeCostOfHedgeNetOfCashPaidAndReceived
-18357124
CY2019Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
1000000000
CY2021Q2 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
350000000
CY2021Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
15292054
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
122206
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
415262
us-gaap Accretion Expense
AccretionExpense
374545
CY2022Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
15373543
CY2021Q2 rei Compensation Expenses Charged Against Income For Share Based Awards Included In General And Administrative Expenses
CompensationExpensesChargedAgainstIncomeForShareBasedAwardsIncludedInGeneralAndAdministrativeExpenses
351775
rei Compensation Expenses Charged Against Income For Share Based Awards Included In General And Administrative Expenses
CompensationExpensesChargedAgainstIncomeForShareBasedAwardsIncludedInGeneralAndAdministrativeExpenses
707269
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
2500000

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