$REI
RING ENERGY, INC.

2024 Q4 Form 10-Q Financial Statement

#000162828024045791 Filed on November 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $89.24M
YoY Change -4.74%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.66M
YoY Change 16.7%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit $29.85M
YoY Change -24.58%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $14.12M
YoY Change -127.95%
Pretax Income $43.97M
YoY Change -501.5%
Income Tax $10.09M
% Of Pretax Income 22.94%
Net Earnings $33.88M
YoY Change -549.36%
Net Earnings / Revenue 37.96%
Basic Earnings Per Share $0.17
Diluted Earnings Per Share $0.17
COMMON SHARES
Basic Shares Outstanding 198.2M shares 198.2M shares
Diluted Shares Outstanding 200.7M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $0.00
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $4.628M
Prepaid Expenses $2.077M
Receivables $36.39M
Other Receivables
Total Short-Term Assets $52.82M
YoY Change -9.91%
LONG-TERM ASSETS
Property, Plant & Equipment $1.327B
YoY Change 3.54%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.347B
YoY Change 3.24%
TOTAL ASSETS
Total Short-Term Assets $52.82M
Total Long-Term Assets $1.347B
Total Assets $1.400B
YoY Change 2.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $90.14M
YoY Change -18.34%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $97.59M
YoY Change -35.75%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $97.59M
Total Long-Term Liabilities
Total Liabilities $548.5M
YoY Change -12.92%
SHAREHOLDERS EQUITY
Retained Earnings $52.36M
YoY Change -186.77%
Common Stock $198.2K
YoY Change 1.44%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $851.3M
YoY Change
Total Liabilities & Shareholders Equity $1.400B
YoY Change 2.67%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $33.88M
YoY Change -549.36%
Depreciation, Depletion And Amortization $25.66M
YoY Change 16.7%
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Central Index Key
EntityCentralIndexKey
0001384195
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Amendment Flag
AmendmentFlag
false
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2024-09-30
dei Document Transition Report
DocumentTransitionReport
false
dei Entity Registrant Name
EntityRegistrantName
Ring Energy, Inc.
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 900
dei Entity Address City Or Town
EntityAddressCityOrTown
The Woodlands
dei Entity Address State Or Province
EntityAddressStateOrProvince
TX
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
77380
dei City Area Code
CityAreaCode
281
dei Local Phone Number
LocalPhoneNumber
397-3699
dei Security12b Title
Security12bTitle
Common Stock, par value $0.001
dei Trading Symbol
TradingSymbol
REI
dei Security Exchange Name
SecurityExchangeName
NYSEAMER
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Small Business
EntitySmallBusiness
false
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
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CY2023Q4 us-gaap Derivative Asset Statement Of Financial Position Extensible Enumeration
DerivativeAssetStatementOfFinancialPositionExtensibleEnumeration
http://fasb.org/us-gaap/2024#DerivativeAssetsCurrent http://fasb.org/us-gaap/2024#DerivativeAssetsNoncurrent
CY2023Q4 us-gaap Derivative Liability Statement Of Financial Position Extensible Enumeration
DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration
http://fasb.org/us-gaap/2024#DerivativeLiabilitiesCurrent http://fasb.org/us-gaap/2024#DerivativeLiabilitiesNoncurrent
CY2024Q3 us-gaap Derivative Asset Statement Of Financial Position Extensible Enumeration
DerivativeAssetStatementOfFinancialPositionExtensibleEnumeration
http://fasb.org/us-gaap/2024#DerivativeAssetsCurrent http://fasb.org/us-gaap/2024#DerivativeAssetsNoncurrent
CY2024Q3 us-gaap Derivative Liability Statement Of Financial Position Extensible Enumeration
DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration
http://fasb.org/us-gaap/2024#DerivativeLiabilitiesCurrent http://fasb.org/us-gaap/2024#DerivativeLiabilitiesNoncurrent
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
CY2024Q3 us-gaap Line Of Credit
LineOfCredit
392000000 usd
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2024Q3 rei Direct Costs Of Lease Operating Expenses
DirectCostsOfLeaseOperatingExpenses
20315282 usd
CY2024Q3 rei Cost Of Goods And Services Sold Including Payout Adjustments
CostOfGoodsAndServicesSoldIncludingPayoutAdjustments
102420 usd
CY2024Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
25662123 usd
CY2023Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
138220 usd
CY2024Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6421567 usd
CY2024Q3 us-gaap Costs And Expenses
CostsAndExpenses
59399091 usd
CY2024Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
24731625 usd
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
793007124 usd
CY2024Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0 usd
CY2024Q3 rei Share Based Payment Arrangement Value Withheld For Tax Withholding Obligation With Restricted Stock Vested
ShareBasedPaymentArrangementValueWithheldForTaxWithholdingObligationWithRestrictedStockVested
0 usd
CY2024Q3 rei Adjustment To Additional Paid In Capital Payment To Cover Tax Withholdings Income Tax Effect
AdjustmentToAdditionalPaidInCapitalPaymentToCoverTaxWithholdingsIncomeTaxEffect
-17273 usd
CY2024Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
32087 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
33878424 usd
CY2024Q3 us-gaap Stockholders Equity
StockholdersEquity
851310143 usd
CY2023Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0 usd
CY2023Q1 rei Share Based Payment Arrangement Value Withheld For Tax Withholding Obligation With Restricted Stock Vested
ShareBasedPaymentArrangementValueWithheldForTaxWithholdingObligationWithRestrictedStockVested
0 usd
CY2023Q1 rei Adjustment To Additional Paid In Capital Payment To Cover Tax Withholdings Income Tax Effect
AdjustmentToAdditionalPaidInCapitalPaymentToCoverTaxWithholdingsIncomeTaxEffect
-134381 usd
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1943696 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
32715779 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
699242426 usd
CY2023Q2 rei Stock Issued During Period Value Common Warrants Exercised
StockIssuedDuringPeriodValueCommonWarrantsExercised
8687655 usd
CY2023Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0 usd
CY2023Q2 rei Share Based Payment Arrangement Value Withheld For Tax Withholding Obligation With Restricted Stock Vested
ShareBasedPaymentArrangementValueWithheldForTaxWithholdingObligationWithRestrictedStockVested
0 usd
CY2023Q2 rei Adjustment To Additional Paid In Capital Payment To Cover Tax Withholdings Income Tax Effect
AdjustmentToAdditionalPaidInCapitalPaymentToCoverTaxWithholdingsIncomeTaxEffect
-141682 usd
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2260312 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
28791605 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
738840316 usd
CY2023Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0 usd
CY2023Q3 rei Share Based Payment Arrangement Value Withheld For Tax Withholding Obligation With Restricted Stock Vested
ShareBasedPaymentArrangementValueWithheldForTaxWithholdingObligationWithRestrictedStockVested
0 usd
CY2023Q3 rei Adjustment To Additional Paid In Capital Payment To Cover Tax Withholdings Income Tax Effect
AdjustmentToAdditionalPaidInCapitalPaymentToCoverTaxWithholdingsIncomeTaxEffect
-18302 usd
CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2170735 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-7539222 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
733453527 usd
us-gaap Net Income Loss
NetIncomeLoss
61812795 usd
us-gaap Net Income Loss
NetIncomeLoss
53968162 usd
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
74153994 usd
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
64053637 usd
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
1057213 usd
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
1073900 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
3670096 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
3699235 usd
us-gaap Share Based Compensation
ShareBasedCompensation
3833697 usd
us-gaap Share Based Compensation
ShareBasedCompensation
6374743 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
187594 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
41865 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
89693 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
0 usd
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-18212075 usd
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
8160712 usd
rei Excess Tax Benefit Expense Related To Share Based Compensation
ExcessTaxBenefitExpenseRelatedToShareBasedCompensation
-95333 usd
rei Excess Tax Benefit Expense Related To Share Based Compensation
ExcessTaxBenefitExpenseRelatedToShareBasedCompensation
-158763 usd
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
3888531 usd
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-26483190 usd
rei Cash Received Paid For Derivative Settlements Net
CashReceivedPaidForDerivativeSettlementsNet
-5938777 usd
rei Cash Received Paid For Derivative Settlements Net
CashReceivedPaidForDerivativeSettlementsNet
-5829728 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3245030 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5671516 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1508955 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-3701882 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
202046 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-68525 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-9538827 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
3500913 usd
us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
-974877 usd
us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
-1025607 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
147144031 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
142437252 usd
us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
787343 usd
us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
1605262 usd
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
117559401 usd
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
112996032 usd
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
185524 usd
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
209798 usd
us-gaap Proceeds From Sale Of Other Productive Assets
ProceedsFromSaleOfOtherProductiveAssets
10605 usd
us-gaap Proceeds From Sale Of Other Productive Assets
ProceedsFromSaleOfOtherProductiveAssets
332230 usd
us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
0 usd
us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
54558 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-113166061 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-170917037 usd
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
108000000 usd
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
179000000 usd
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
141000000 usd
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
166000000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
919249 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
294365 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
1501507 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
1565071 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1122422 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1114883 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
45704 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
688486 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
551579 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-34274354 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
24905840 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-296384 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3573945 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
296384 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3712526 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
0 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
138581 usd
us-gaap Interest Paid Net
InterestPaidNet
30208974 usd
us-gaap Interest Paid Net
InterestPaidNet
27804707 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
72213 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Asset Retirement Obligation Period Increase Decrease
AssetRetirementObligationPeriodIncreaseDecrease
505721 usd
us-gaap Asset Retirement Obligation Period Increase Decrease
AssetRetirementObligationPeriodIncreaseDecrease
261786 usd
us-gaap Settlement Of Asset Retirement Obligations Through Noncash Payments Amount
SettlementOfAssetRetirementObligationsThroughNoncashPaymentsAmount
0 usd
us-gaap Settlement Of Asset Retirement Obligations Through Noncash Payments Amount
SettlementOfAssetRetirementObligationsThroughNoncashPaymentsAmount
2090777 usd
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
133794 usd
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
53824 usd
rei Asset Retirement Obligation Liabilities Properties Sold
AssetRetirementObligationLiabilitiesPropertiesSold
3219651 usd
rei Asset Retirement Obligation Liabilities Properties Sold
AssetRetirementObligationLiabilitiesPropertiesSold
4717507 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1713677 usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
341218 usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
305052 usd
rei Capital Expenditures Incurred But Not Yet Paid1
CapitalExpendituresIncurredButNotYetPaid1
-4034975 usd
rei Capital Expenditures Incurred But Not Yet Paid1
CapitalExpendituresIncurredButNotYetPaid1
-1394081 usd
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> – 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 </span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Credit Risk and Receivables</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> – Financial instruments that potentially subject the Company to a concentration of credit risk consist principally of cash and receivables.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Cash and cash equivalents - </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company had cash in excess of federally insured limits of $0 and $46,384 as of September 30, 2024 and December 31, 2023, respectively. The Company places its cash with a high credit quality financial institution. The Company has not experienced any losses in such accounts and believes it is not exposed to significant credit risk in this area.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Accounts receivable - </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Substantially all of the Company’s accounts receivable is from purchasers of oil and natural gas. Oil and natural gas sales are generally unsecured. Accounts receivable from purchasers outstanding longer than the contractual </span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">payment terms are considered past due. The Company has not had any significant credit losses in the past and believes its accounts receivable are fully collectable. During the nine months ended September 30, 2024, sales to three purchasers represented 61%, 14% and 13%, respectively, of total oil, natural gas, and natural gas liquids sales. As of September 30, 2024, receivables outstanding from these three purchasers represented 69%, 11% and 13%, respectively, of accounts receivable. </span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Production imbalances</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">- </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company accounts for natural gas production imbalances using the sales method, which recognizes revenue on all natural gas sold even though the natural gas volumes sold may be more or less than the Company's ownership entitles it to sell. Liabilities are recorded for imbalances greater than the Company’s proportionate share of remaining estimated natural gas reserves.</span><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company recorded no imbalances as of September 30, 2024 or December 31, 2023.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Joint interest billing receivables, net - </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company also has joint interest billing receivables. Joint interest billing receivables are collateralized by the pro rata revenue attributable to the joint interest holders and further by the interest itself. Receivables from joint interest owners outstanding longer than the contractual payment terms are considered past due. The following table indicates the Company's provisions for bad debt expense associated with its joint interest billing receivables during the three and nine months ended September 30, 2024 and September 30, 2023.</span></div><div style="margin-top:12pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:35.415%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.466%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.054%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">For the Three Months Ended</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">For the Nine Months Ended</span></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">September 30, 2024</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">September 30, 2023</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">September 30, 2024</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">September 30, 2023</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Bad debt expense</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">8,817 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19,656 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">187,594 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">41,865 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>
CY2024Q3 us-gaap Fair Value Concentration Of Risk Cash And Cash Equivalents
FairValueConcentrationOfRiskCashAndCashEquivalents
0 usd
CY2023Q4 us-gaap Fair Value Concentration Of Risk Cash And Cash Equivalents
FairValueConcentrationOfRiskCashAndCashEquivalents
46384 usd
CY2024Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
8817 usd
CY2023Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
19656 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
187594 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
41865 usd
CY2024Q3 rei Oil And Gas Joint Interest Billing Receivables Before Allowance For Credit Loss
OilAndGasJointInterestBillingReceivablesBeforeAllowanceForCreditLoss
1552281 usd
CY2023Q4 rei Oil And Gas Joint Interest Billing Receivables Before Allowance For Credit Loss
OilAndGasJointInterestBillingReceivablesBeforeAllowanceForCreditLoss
2480843 usd
CY2024Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
208480 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
58569 usd
CY2024Q3 us-gaap Oil And Gas Joint Interest Billing Receivables Current
OilAndGasJointInterestBillingReceivablesCurrent
1343801 usd
CY2023Q4 us-gaap Oil And Gas Joint Interest Billing Receivables Current
OilAndGasJointInterestBillingReceivablesCurrent
2422274 usd
us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
-149911 usd
CY2024Q3 us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
25302058 usd
CY2023Q3 us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
21711123 usd
us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
73056856 usd
us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
63203473 usd
CY2024Q3 rei Depletion Rate Per Barrel Of Oil Equivalents
DepletionRatePerBarrelOfOilEquivalents
13.68 usd
CY2023Q3 rei Depletion Rate Per Barrel Of Oil Equivalents
DepletionRatePerBarrelOfOilEquivalents
13.48 usd
rei Depletion Rate Per Barrel Of Oil Equivalents
DepletionRatePerBarrelOfOilEquivalents
13.57 usd
rei Depletion Rate Per Barrel Of Oil Equivalents
DepletionRatePerBarrelOfOilEquivalents
13.09 usd
CY2024Q3 us-gaap Depreciation
Depreciation
102043 usd
CY2023Q3 us-gaap Depreciation
Depreciation
80690 usd
us-gaap Depreciation
Depreciation
306752 usd
us-gaap Depreciation
Depreciation
277420 usd
CY2024Q3 rei Notes Payable Current For Obtaining External Insurance
NotesPayableCurrentForObtainingExternalInsurance
912819 usd
CY2023Q4 rei Notes Payable Current For Obtaining External Insurance
NotesPayableCurrentForObtainingExternalInsurance
533734 usd
CY2024Q3 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
9637849 usd
CY2023Q3 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-3381104 usd
us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
17617436 usd
us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-8492595 usd
CY2024Q3 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
74899 usd
CY2023Q3 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
165780 usd
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
329917 usd
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
264261 usd
CY2024Q3 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
375206 usd
CY2023Q3 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-196012 usd
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
689972 usd
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
490646 usd
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10087954 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-3411336 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
18637325 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-7737688 usd
CY2024Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.2294
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.3115
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.2317
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.1674
rei Income Tax Expense Benefit Discrete Item
IncomeTaxExpenseBenefitDiscreteItem
-10500000 usd
CY2024Q3 us-gaap Share Based Compensation
ShareBasedCompensation
32087 usd
CY2023Q3 us-gaap Share Based Compensation
ShareBasedCompensation
2170735 usd
us-gaap Share Based Compensation
ShareBasedCompensation
3833697 usd
us-gaap Share Based Compensation
ShareBasedCompensation
6374743 usd
CY2024Q3 rei Oil Revenue
OilRevenue
90416363 usd
CY2023Q3 rei Oil Revenue
OilRevenue
90392004 usd
rei Oil Revenue
OilRevenue
282000446 usd
rei Oil Revenue
OilRevenue
252020403 usd
CY2024Q3 rei Natural Gas Revenue
NaturalGasRevenue
-3859603 usd
CY2023Q3 rei Natural Gas Revenue
NaturalGasRevenue
562374 usd
rei Natural Gas Revenue
NaturalGasRevenue
-7650645 usd
rei Natural Gas Revenue
NaturalGasRevenue
526161 usd
CY2024Q3 rei Natural Gas Liquids Revenue
NaturalGasLiquidsRevenue
2687623 usd
CY2023Q3 rei Natural Gas Liquids Revenue
NaturalGasLiquidsRevenue
2727420 usd
rei Natural Gas Liquids Revenue
NaturalGasLiquidsRevenue
8537067 usd
rei Natural Gas Liquids Revenue
NaturalGasLiquidsRevenue
8566719 usd
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
89244383 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
93681798 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
282886868 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
261113283 usd
CY2024Q3 us-gaap Lessee Finance Lease Term Of Contract1
LesseeFinanceLeaseTermOfContract1
P36M
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
177466 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
727460 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
636649 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
460497 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
250606 usd
CY2024Q3 rei Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
149628 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
255854 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
821792 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
367872 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
23914 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0 usd
CY2024Q3 rei Finance Lease Liability To Be Paid After Year Four
FinanceLeaseLiabilityToBePaidAfterYearFour
0 usd
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0450
rei Operating Lease Imputed Interest Expense
OperatingLeaseImputedInterestExpense
195057 usd
CY2024Q3 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P3Y7M28D
CY2024Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0715
rei Finance Lease Imputed Interest Expense
FinanceLeaseImputedInterestExpense
92880 usd
CY2024Q3 us-gaap Lessee Finance Lease Remaining Lease Term
LesseeFinanceLeaseRemainingLeaseTerm
P1Y9M
CY2024Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
633132 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
568176 usd
CY2024Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1574117 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2054041 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2207249 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
2622217 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2402306 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2900050 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
195057 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
277833 usd
CY2024Q3 rei Lessee Operating Lease Liability Payments Due Net Of Imputed Interest
LesseeOperatingLeaseLiabilityPaymentsDueNetOfImputedInterest
2207249 usd
CY2023Q4 rei Lessee Operating Lease Liability Payments Due Net Of Imputed Interest
LesseeOperatingLeaseLiabilityPaymentsDueNetOfImputedInterest
2622217 usd
CY2024Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
879598 usd
CY2023Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
956254 usd
CY2024Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
496954 usd
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
906330 usd
CY2024Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
1376552 usd
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
1862584 usd
CY2024Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
1469432 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
2006453 usd
CY2024Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
92880 usd
CY2023Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
143869 usd
CY2024Q3 rei Finance Lease Liability To Be Paid Net Of Imputed Interest
FinanceLeaseLiabilityToBePaidNetOfImputedInterest
1376552 usd
CY2023Q4 rei Finance Lease Liability To Be Paid Net Of Imputed Interest
FinanceLeaseLiabilityToBePaidNetOfImputedInterest
1862584 usd
CY2024Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
175091 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
138220 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
525272 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
366711 usd
CY2024Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1225729 usd
CY2023Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1012525 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
3311077 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
4042160 usd
CY2024Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
258022 usd
CY2023Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
197221 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
790386 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
572744 usd
CY2024Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
27224 usd
CY2023Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
23416 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
89963 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
73115 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
33878424 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-7539222 usd
us-gaap Net Income Loss
NetIncomeLoss
61812795 usd
us-gaap Net Income Loss
NetIncomeLoss
53968162 usd
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
198177046 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
195361476 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
197850538 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
188865752 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
200723863 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
195361476 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
200139478 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
194583215 shares
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.17
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.04
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.31
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.29
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.17
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.31
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.28
CY2024Q3 us-gaap Derivative Instruments And Hedges
DerivativeInstrumentsAndHedges
8605087 usd
CY2023Q4 us-gaap Derivative Instruments And Hedges
DerivativeInstrumentsAndHedges
7768697 usd
CY2024Q3 rei Derivative Instruments And Hedges Assets Discounted Deferred Premiums Current
DerivativeInstrumentsAndHedgesAssetsDiscountedDeferredPremiumsCurrent
229103 usd
CY2023Q4 rei Derivative Instruments And Hedges Assets Discounted Deferred Premiums Current
DerivativeInstrumentsAndHedgesAssetsDiscountedDeferredPremiumsCurrent
1553323 usd
CY2024Q3 rei Derivative Instruments And Hedges Assets Net Of Discounted Deferred Premiums Current
DerivativeInstrumentsAndHedgesAssetsNetOfDiscountedDeferredPremiumsCurrent
8375984 usd
CY2023Q4 rei Derivative Instruments And Hedges Assets Net Of Discounted Deferred Premiums Current
DerivativeInstrumentsAndHedgesAssetsNetOfDiscountedDeferredPremiumsCurrent
6215374 usd
CY2024Q3 us-gaap Derivative Instruments And Hedges Noncurrent
DerivativeInstrumentsAndHedgesNoncurrent
8735674 usd
CY2023Q4 us-gaap Derivative Instruments And Hedges Noncurrent
DerivativeInstrumentsAndHedgesNoncurrent
11634714 usd
CY2024Q3 us-gaap Derivative Instruments And Hedges Liabilities
DerivativeInstrumentsAndHedgesLiabilities
3929188 usd
CY2023Q4 us-gaap Derivative Instruments And Hedges Liabilities
DerivativeInstrumentsAndHedgesLiabilities
7520336 usd
CY2024Q3 us-gaap Derivative Instruments And Hedges Liabilities Noncurrent
DerivativeInstrumentsAndHedgesLiabilitiesNoncurrent
4535777 usd
CY2023Q4 us-gaap Derivative Instruments And Hedges Liabilities Noncurrent
DerivativeInstrumentsAndHedgesLiabilitiesNoncurrent
11510368 usd
CY2024Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
24731625 usd
CY2023Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-39222755 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
3888531 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-26483190 usd
CY2024Q3 rei Derivative Cost Of Hedge Net Of Cash Paid And Received
DerivativeCostOfHedgeNetOfCashPaidAndReceived
-1882765 usd
CY2023Q3 rei Derivative Cost Of Hedge Net Of Cash Paid And Received
DerivativeCostOfHedgeNetOfCashPaidAndReceived
-5350798 usd
rei Derivative Cost Of Hedge Net Of Cash Paid And Received
DerivativeCostOfHedgeNetOfCashPaidAndReceived
-5938777 usd
rei Derivative Cost Of Hedge Net Of Cash Paid And Received
DerivativeCostOfHedgeNetOfCashPaidAndReceived
-5829728 usd
CY2014Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
1000000000 usd
CY2022Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
600000000 usd
CY2024Q3 rei Debt Instrument Covenant Pro Forma Leverage Ratio Maximum Threshold
DebtInstrumentCovenantProFormaLeverageRatioMaximumThreshold
2.00
CY2024Q3 rei Debt Instrument Borrowing Base Utilization Maximum Threshold Percentage
DebtInstrumentBorrowingBaseUtilizationMaximumThresholdPercentage
0.80
CY2022Q3 rei Company Required To Maintaining Rolling Basis
CompanyRequiredToMaintainingRollingBasis
P24M
CY2022Q3 rei Minimum Percentage Of Projected Production To Be Hedged
MinimumPercentageOfProjectedProductionToBeHedged
0.50
CY2022Q3 rei Company Required To Maintaining Rolling Basis
CompanyRequiredToMaintainingRollingBasis
P24M
CY2022Q3 rei Hedge Testing Percentage
HedgeTestingPercentage
0
CY2022Q3 rei Minimum Percentage Of Projected Production To Be Hedged
MinimumPercentageOfProjectedProductionToBeHedged
0.50
CY2022Q3 rei Company Required To Maintaining Rolling Basis
CompanyRequiredToMaintainingRollingBasis
P24M
CY2024Q3 us-gaap Line Of Credit
LineOfCredit
392000000 usd
us-gaap Line Of Credit Facility Unused Capacity Commitment Fee Percentage
LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
0.005
us-gaap Line Of Credit Facility Commitment Fee Amount
LineOfCreditFacilityCommitmentFeeAmount
208000000.0 usd
CY2024Q3 us-gaap Line Of Credit
LineOfCredit
392000000 usd
CY2022Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
600000000 usd
CY2023Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
28248084 usd
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
505721 usd
rei Asset Retirement Obligation Liabilities Properties Sold
AssetRetirementObligationLiabilitiesPropertiesSold
3219651 usd
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
492167 usd
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
133794 usd
us-gaap Accretion Expense
AccretionExpense
1057213 usd
CY2024Q3 us-gaap Asset Retirement Obligation
AssetRetirementObligation
26232994 usd
CY2024Q3 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
836421 usd
CY2023Q4 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
165642 usd
CY2024Q3 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
25396573 usd
CY2023Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
28082442 usd
CY2024Q3 us-gaap Asset Retirement Obligation
AssetRetirementObligation
26232994 usd
CY2023Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
28248084 usd
CY2023Q1 rei Class Of Warrant Or Right Exercise Price Of Warrants Or Rights Exercised
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRightsExercised
0.80
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
3613941 usd
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
8997543 usd
CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
0 usd
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
0 usd
CY2024Q3 rei Class Of Warrant Or Right Number Of Warrants Exercised During Period
ClassOfWarrantOrRightNumberOfWarrantsExercisedDuringPeriod
0 shares
CY2024Q3 rei Class Of Warrant Or Right Exercise Price Of Warrants Or Rights Exercised
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRightsExercised
0
CY2024Q3 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
0 usd
CY2024Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
78200 shares
CY2024Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.80
CY2023Q2 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
8997543 usd
CY2023Q2 rei Stock Issued During Period Value Common Warrants Exercised
StockIssuedDuringPeriodValueCommonWarrantsExercised
8687655 usd
CY2023Q2 rei Payment Of Stock Issuance Costs Advisory Fees
PaymentOfStockIssuanceCostsAdvisoryFees
309888 usd
CY2024Q3 us-gaap Share Based Compensation
ShareBasedCompensation
32087 usd
CY2023Q3 us-gaap Share Based Compensation
ShareBasedCompensation
2170735 usd
us-gaap Share Based Compensation
ShareBasedCompensation
3833697 usd
us-gaap Share Based Compensation
ShareBasedCompensation
6374743 usd
CY2023Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2023Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0
CY2023Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
CY2024Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2024Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0
CY2024Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
CY2024Q3 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
25000 usd
CY2024Q1 rei Number Of Guarantors Issuing Instruments On Behalf Of The Company
NumberOfGuarantorsIssuingInstrumentsOnBehalfOfTheCompany
2 insurancecompany
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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