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

Quarterly report pursuant to Section 13 or 15(d)

REVENUE RECOGNITION (Details)

REVENUE RECOGNITION (Details) - USD ($)	3 Months Ended		6 Months Ended
REVENUE RECOGNITION (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
REVENUE RECOGNITION
Oil	$ 45,653,189	$ 10,414,374	$ 81,037,770	$ 49,051,574
Natural gas	2,106,913	222,219	6,224,864	1,155,347
Oil and natural gas revenues	$ 47,760,102	$ 10,636,593	$ 87,262,634	$ 50,206,921

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

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+ Details