Ring Energy, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of put and call prices of those contracts

During May 2020, the Company unwound the costless collars for June 2020 and July 2020, resulting in the receipt of a cash payment of $5,435,136. Concurrently, the Company entered into swap contracts at $33.24 for 5,500 barrels per day for June and July 2020, equal to the barrels for which the costless collars were unwound. Similar to costless collars, there is no cost to enter into the swap contracts. On swap contracts, there is no spread and payments will be made or received based on the difference between WTI and the swap contract price. The following table reflects the prices of those contracts:


Date entered into	Barrels per day	Put price		Call price
2020 costless collars, in place for August through December 2020
04/01/19	1,000	$	50.00	$	65.83
04/01/19	1,000		50.00		65.40
11/05/19	1,000		50.00		58.40
11/07/19	1,000		50.00		58.25
11/11/19	1,500		50.00		58.65

2021 costless collars, in place for January through December 2021
02/25/20	1,000	$	45.00	$	54.75
02/25/20	1,000		45.00		52.71
02/27/20	1,000		40.00		55.08
03/02/20	1,500		40.00		55.35


2020 Swap, in place for July 2020			Swap price
05/29/20	5,500	$	33.24