Ring Energy, Inc. General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

Schedule of asset retirement obligation (Tables)

Schedule of asset retirement obligation (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2014

Dec. 31, 2012

Schedule of asset retirement obligation:

Schedule of assets retirement obligation.

Changes in the asset retirement obligation were as follows:

Balance, December 31, 2013		$	1,182,410
Liabilities acquired			294,772
Liabilities incurred			737,969
Accretion expense			61,694
Balance, June 30, 2014		$	2,276,845

Reconciliation of the asset retirement obligation

A reconciliation of the asset retirement obligation for the years ended December 31, 2011 and 2012 is as follows:

Balance, December 31, 2010	$	-
Liabilities incurred		269,241
Accretion expense		5,547
Balance, December 31, 2011	$	274,788
Liabilities incurred		200,593
Accretion expense		20,906
Balance, December 31, 2012	$	496,286