← RING ENERGY, INC.

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income From Continuing Operations — — — — — — $138.6m $104.9m $67.5m ($34.7m)
Net Income (Loss) Attributable to Parent ($37.6m) $1.8m $9.0m $29.5m ($253.4m) $3.3m $138.6m $104.9m $67.5m ($34.7m)
Depreciation, Depletion and Amortization $303k $320k $214k $56.2m $43.0m $37.2m $55.7m $88.6m $98.7m $96.4m
Amortization of Debt Issuance Costs — — — $991k $1.2m $666k $2.7m $4.9m $5.0m $4.5m
Depreciation $303k $320k $214k $334k $376k $433k $206k $364k $406k $409k
Amortization of deferred financing costs — $0 $0 $991k $1.2m $666k $2.7m $4.9m $5.0m $4.5m
Payments to acquire or improve fixed assets subject to depreciation ($9k) ($336k) $0 $0 ($55k) ($569k) ($320k) ($492k) ($186k) ($180k)
Proceeds from sale of fixed assets subject to depreciation — — — — $0 $0 $135k $332k $11k $17k
Depreciation Amortization Depletion — — — — — — $55.7m $88.6m $98.7m $96.4m
Depreciation, Amortization and Accretion, Net $11.5m $20.5m $39.0m $56.2m $43.0m $37.2m $55.7m $88.6m $98.7m $96.4m
Deferred Income Tax Expense (Benefit) ($20.0m) $10.4m $3.4m $13.8m ($6.0m) $90k $8.7m ($425k) $19.9m ($7.9m)
Deferred Income Tax — — — — — — $8.7m ($425k) $19.9m ($7.9m)
Deferred Tax — — — — — — $8.7m ($425k) $19.9m ($7.9m)
Share-based Payment Arrangement, Noncash Expense $2.3m $3.7m $3.9m $3.1m $5.4m $2.4m $7.2m $8.8m $5.5m $6.1m
Payment, Tax Withholding, Share-based Payment Arrangement — — — — — $385k $521k $520k $919k $1.2m
Ceiling test impairment $56.5m $0 $14.2m $0 $277.5m $0 $0 $0 $0 $108.8m
Share-based compensation $2.3m $3.7m $3.9m $3.1m $5.4m $2.4m $7.2m $8.8m $5.5m $6.1m
Excess tax expense (benefit) related to share-based compensation — ($50k) $908k $3.9m ($2.0m) ($175k) ($312k) $478k $104k $31k
Asset Impairment Charge — — — — — — $242k $134k $161k $108.8m
Gain (Loss) on Disposition of Assets — — — — — — $0 $0 $90k $446k
Gain (Loss) on Disposition of Intangible Assets — — — — — — $0 $0 $90k $446k
Gain (Loss) on Disposition of Property Plant Equipment — — — — — — — ($87k) — —
Income Tax Expense (Benefit) ($20.0m) $10.4m $3.4m $13.8m ($6.0m) $90k $8.4m $125k $20.4m ($7.5m)
Interest Expense Nonoperating — — — — — — — — $43.3m $40.4m
Operating Lease, Expense — — — $925k $1.2m $523k $364k $542k $700k $700k
Operating lease assets obtained in exchange for new operating lease liability — $0 $0 $2.3m $824k $840k $755k $1.7m $0 $0
Changes in operating assets and liabilities:
Additional Financial Items
Increase (Decrease) in Accounts Receivable ($229k) $10.0m ($666k) $10.0m ($7.9m) $9.5m $17.2m ($1.2m) ($3.6m) ($4.5m)
Increase (Decrease) in Inventories — — — — — — $5.6m ($3.1m) ($2.1m) $1.3m
Accretion Expense $487k $568k $606k $944k $907k $744k $983k $1.4m $1.4m $1.5m
Asset Retirement Obligation, Accretion Expense $487k $568k $606k $944k $907k $744k $983k $1.4m $1.4m $1.5m
General and Administrative Expense $8.0m $10.5m $12.9m $19.9m $16.9m $16.1m $27.1m $29.2m $29.6m $31.9m
Investment Income, Interest $56k $291k $98k $14k $8 $1 $4 $257k $492k $291k
Nonoperating Income (Expense) ($593k) ($3.8m) ($7.5m) ($16.9m) $9.2m ($92.3m) ($44.7m) ($40.8m) ($45.0m) ($7.8m)
Operating Costs and Expenses $87.9m $50.7m — — — — — — — —
Proceeds from Stock Options Exercised $112k $0 $100k $0 $0 $200k $0 $0 — —
Revenue from Contract with Customer, Including Assessed Tax — — $120.1m $195.7m $113.0m $196.3m — — — —
Unrealized Gain (Loss) on Derivatives — ($4.0m) $4.0m ($3.0m) ($1.2m) ($77.9m) ($21.5m) $2.8m ($2.4m) $31.7m
Asset retirement obligation accretion — — — $944k $907k $744k $983k $1.4m $1.4m $1.5m
Credit loss expense — — — — $0 $0 $242k $134k $161k $19k
(Gain) loss on disposal of assets — — — — — — $0 $0 ($90k) ($446k)
(Gain) loss on derivative contracts — — ($4.0m) $3.0m $1.2m $77.9m $21.5m ($2.8m) $2.4m ($31.7m)
Cash received (paid) for derivative settlements, net — — — $63k $22.5m ($52.8m) ($62.5m) ($9.1m) ($5.2m) $5.5m
Accounts receivable $229k ($10.0m) $666k ($10.0m) $7.9m ($9.5m) ($17.2m) $1.2m $3.6m $4.5m
Inventory — — — — $0 $0 ($5.6m) $3.1m $2.1m ($1.3m)
Prepaid expenses and other assets $334k $268k ($318k) ($1.9m) $3.6m ($542k) ($1.2m) $227k $94k ($41k)
Accounts payable ($2.2m) $12.4m $4.4m $12.3m ($8.4m) $15.4m $50.8m ($1.5m) ($5.1m) $475k
Settlement of asset retirement obligation ($241k) ($767k) ($578k) ($1.3m) ($684k) ($2.2m) ($2.7m) ($1.9m) ($1.6m) ($904k)
Payments for acquisitions — $0 $0 ($276.1m) $0 $0 ($177.8m) ($80.7m) $0 ($81.9m)
Payments to purchase oil and natural gas properties ($10.2m) ($28.7m) ($4.7m) ($3.4m) ($1.3m) ($1.4m) ($1.6m) ($2.2m) ($2.2m) ($2.5m)
Payments to develop oil and natural gas properties ($26.6m) ($124.7m) ($198.9m) ($152.1m) ($42.5m) ($51.3m) ($129.3m) ($152.6m) ($153.9m) ($95.2m)
Proceeds from sale of properties — — — — — $0 $0 $11.5m $5.5m $0
Proceeds from sale of New Mexico properties — — — — — — $0 $3.9m ($144k) $0
Insurance proceeds received for damage to oil and natural gas properties — — — — — — — $0 $0 $260k
Proceeds from revolving line of credit $7.0m $0 $39.5m $327.0m $26.5m $60.1m $636.0m $225.0m $130.0m $231.8m
Payments on revolving line of credit ($52.9m) $0 $0 $0 ($80.0m) ($83.2m) ($511.0m) ($215.0m) ($170.0m) ($196.8m)
Payments for taxes withheld on vested restricted shares, net — — — — $0 ($385k) ($521k) ($520k) ($919k) ($1.2m)
Proceeds from notes payable — — — — $0 $1.3m $1.3m $1.6m $1.6m $1.6m
Payments on notes payable — — — — $0 ($711k) ($1.4m) ($1.6m) ($1.6m) ($1.6m)
Payment of deferred financing costs — $0 $0 ($3.8m) ($355k) ($105k) ($18.9m) ($52k) ($88k) ($5.6m)
Reduction of financing lease liabilities — $0 $0 ($153k) ($283k) ($326k) ($495k) ($776k) ($954k) ($484k)
Cash at Beginning of Period $4.4m $71.1m $15.0m $3.4m $10.0m $2.4m $3.7m $296k $1.9m $903k
Asset retirement obligation incurred during development $309k $1.3m $1.3m $632k $99k $171k $353k $440k $696k $90k
Asset retirement obligation acquired $0 $0 $2.6m $40k $0 $663k $14.5m $2.1m $0 $2.8m
Asset retirement obligation revision of estimate — — $88k — $34k $435k $0 $54k $134k ($78k)
Asset retirement obligation sold — — — — $0 ($2.9m) $0 ($5.3m) ($3.2m) ($65k)
Financing lease assets obtained in exchange for new financing lease liability, net — $0 $0 $859k $0 $0 $952k $895k $738k $708k
Change in capitalized expenditures attributable to drilling projects financed through current liabilities — — — $15.2m $1.4m $309k $9.2m ($2.2m) ($3.9m) $1.0m
Cash paid — $0 $0 $276.1m $0 $0 $121.4m $42.5m $0 $63.6m
Deposit in escrow — — — — $0 $0 $46.5m $7.5m $0 $5.0m
Interest from escrow deposit — — — — — $0 $0 $2k $0 $0
Direct transaction costs — — — — $0 $0 $9.2m $1.4m $0 $2.6m
Cash paid for fixed assets acquired — — — — — — — $0 $0 ($34k)
Purchase price adjustments paid to third parties — — — — — — — $0 $0 $1.4m
Post-close adjustments — — — — — $0 $0 ($4.1m) $0 ($706k)
Payment of deferred cash payment — — — — — $0 $0 $30.0m $0 $10.0m
Payment of post-close settlement — — — — — $0 $0 $3.5m $0 $0
Payment for acquisition — — — — $0 $0 $177.8m $80.7m $0 $81.9m
Assumption of suspense liability — — — — $0 $0 $1.7m $677k $0 $459k
Assumption of ad valorem tax liability — — — — — $0 $0 $234k $0 $0
Assumption of asset retirement obligation — — — — $0 $0 $14.5m $2.1m $0 $2.6m
Deferred cash payment at fair value — — — — $0 $0 $14.8m $14.7m $0 $9.4m
Beginning Cash Position — — — — — — $2.4m $3.7m $296k $1.9m
Cash Flow From Continuing Financing Activities — — — — — — $113.2m $21.0m ($42.0m) $27.7m
Cash Flow From Continuing Investing Activities — — — — — — ($308.9m) ($222.6m) ($150.9m) ($179.5m)
Change In Account Payable — — — — — — $50.8m ($1.5m) ($5.1m) $475k
Change In Inventory — — — — — — ($5.6m) $3.1m $2.1m ($1.3m)
Change In Payable — — — — — — $50.8m ($1.5m) ($5.1m) $475k
Change In Payables And Accrued Expense — — — — — — $50.8m ($1.5m) ($5.1m) $475k
Change In Prepaid Assets — — — — — — ($1.2m) $227k $94k ($41k)
Change In Receivables — — — — — — ($17.2m) $1.2m $3.6m $4.5m
Change In Working Capital — — — — — — $26.8m $3.0m $700k $3.6m
Changes In Account Receivables — — — — — — ($17.2m) $1.2m $3.6m $4.5m
Changes In Cash — — — — — — $1.3m ($3.4m) $1.6m ($963k)
End Cash Position — — — — — — $3.7m $296k $1.9m $903k
Excess Tax Benefit From Stock Based Compensation — — — — — — ($312k) $478k $104k $31k
Financing Cash Flow — — — — — — $113.2m $21.0m ($42.0m) $27.7m
Free Cash Flow — — — — — — $65.8m $43.0m $37.9m ($28.9m)
Gain Loss On Investment Securities — — — — — — $21.5m ($2.8m) $2.4m ($31.7m)
Investing Cash Flow — — — — — — ($308.9m) ($222.6m) ($150.9m) ($179.5m)
Issuance Of Capital Stock — — — — — — $8.2m $12.3m $0 $0
Net Business Purchase And Sale — — — — — — ($177.8m) ($80.7m) $0 $0
Net PPE Purchase And Sale — — — — — — ($131.1m) ($141.8m) ($150.9m) ($179.8m)
Operating Gains Losses — — — — — — $21.5m ($2.8m) $2.3m ($32.1m)
Other Non Cash Items — — — — — — ($61.6m) ($4.6m) ($433k) $10.5m
Proceeds From Stock Option Exercised — — — — — $200k $0 $0 — —
Purchase Of Business — — — — — — ($177.8m) ($80.7m) $0 $0
Purchase Of PPE — — — — — — ($131.2m) ($155.2m) ($156.5m) ($179.8m)
Sale Of PPE — — — — — — $158k $13.4m $5.6m $17k
Stock Based Compensation — — — — — — $7.2m $8.8m $5.5m $6.1m
Derivative, Gain (Loss) on Derivative, Net — ($4.0m) $4.0m ($3.0m) $22.5m ($77.9m) ($21.5m) $2.8m ($2.4m) $31.7m
Net Cash Provided by (Used in) Operating Activities $11.2m $42.8m $70.4m $106.6m $72.2m $72.7m $197.0m $198.2m $194.4m $150.8m
Cash flows from investing activities:
Capital Expenditure — — — — — — ($131.2m) ($155.2m) ($156.5m) ($179.8m)
Payments to Acquire Businesses, Net of Cash Acquired — — — $276.1m $0 — $177.8m — — —
Proceeds from divestiture of oil and natural gas properties — $0 $0 $8.5m $0 $2.0m $24k $1.6m $121k $100
Net Cash Provided by (Used in) Investing Activities ($38.3m) ($157.9m) ($203.4m) ($423.0m) ($43.8m) ($51.2m) ($308.9m) ($222.6m) ($150.9m) ($179.5m)
Cash flows from financing activities:
Issuance Of Debt — — — — — — $637.3m $226.6m $131.6m $233.5m
Long Term Debt Issuance — — — — — — $636.0m $225.0m $130.0m $231.8m
Net Issuance Payments Of Debt — — — — — — $124.4m $9.3m ($41.0m) $34.5m
Net Long Term Debt Issuance — — — — — — $124.5m $9.2m ($41.0m) $34.5m
Net Short Term Debt Issuance — — — — — — ($87k) $34k ($37k) $9k
Short Term Debt Issuance — — — — — — $1.3m $1.6m $1.6m $1.6m
Long Term Debt Payments — — — — — — ($511.5m) ($215.8m) ($171.0m) ($197.3m)
Repayment Of Debt — — — — — — ($512.9m) ($217.4m) ($172.6m) ($198.9m)
Short Term Debt Payments — — — — — — ($1.4m) ($1.6m) ($1.6m) ($1.6m)
Proceeds from Issuance of Common Stock $139.6m $59.0m $81.8m $0 $19.4m $368k $8.2m $12.3m $0 $0
Proceeds from issuance of common stock and warrants $139.6m $59.0m $81.8m $0 $19.4m $368k $8.2m $12.3m $0 $0
Common stock issued for acquisition — — — — $0 $0 $69.1m $0 $0 $7.4m
Common Stock Issuance — — — — — — $8.2m $12.3m $0 $0
Net Common Stock Issuance — — — — — — $8.2m $12.3m $0 $0
Net Other Financing Charges — — — — — — ($19.4m) ($572k) ($1.0m) ($6.8m)
Net Cash Provided by (Used in) Financing Activities $93.8m $59.0m $121.4m $323.1m ($34.8m) ($22.7m) $113.2m $21.0m ($42.0m) $27.7m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect $66.7m ($56.1m) ($11.6m) $6.6m ($6.4m) ($1.2m) $1.3m ($3.4m) $1.6m ($963k)
Net Increase (Decrease) in Cash $66.7m ($56.1m) ($11.6m) $6.6m ($6.4m) ($1.2m) $1.3m ($3.4m) $1.6m ($963k)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — — — — $2.4m $3.7m $296k $1.9m $903k
Supplemental disclosure of cash flow information:
Change In Cash Supplemental As Reported — — — — — — $1.3m ($3.4m) $1.6m ($963k)
Interest Paid, Excluding Capitalized Interest, Operating Activities $649k $0 $324k $10.4m $16.9m $14.1m $19.8m $38.0m $39.2m $32.4m
Income Taxes Paid, Net — — — — — $0 $0 $72k $72k $347k

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.