Annual report pursuant to Section 13 and 15(d)

ACQUISITIONS & DIVESTITURES - Stronghold Acquisition - Preliminary Allocation of the Total Cost (Details)

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ACQUISITIONS & DIVESTITURES - Stronghold Acquisition - Preliminary Allocation of the Total Cost (Details) - USD ($)
 12 Months Ended
Aug. 31, 2022
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash consideration:          
Closing amount paid to Stronghold   $ 121,392,455 $ 0 $ 0  
Cash received for post-close adjustments, net   (5,535,839) 0 0  
Fair value of assets acquired:          
Oil and natural gas properties   1,463,838,595 883,844,745    
Fair value of liabilities assumed:          
Asset retirement obligations   $ 30,226,306 $ 15,292,054 $ 17,117,135 $ 16,787,219
Stronghold Acquisition          
Consideration:          
Shares of Common Stock issued (in shares) 21,339,986        
Ring Common Stock Price (in dollars per share) $ 3.24        
Common Stock Consideration $ 69,141,555        
Shares of Preferred Stock issued (in shares) 153,176        
Aggregate Liquidation Preference $ 153,176,000        
Conversion Price (in dollars per share) $ 3.60        
As-Converted Shares of Ring Common Stock (in shares) 42,548,892        
Preferred Stock Consideration $ 137,858,446        
Cash consideration:          
Closing amount paid to Stronghold 121,392,455        
Escrow deposit paid 46,500,000        
Cash paid for inventory and fixed assets 4,527,103        
Cash paid for realized losses on August oil derivatives 1,777,925        
Cash received for post-close adjustments, net (5,535,839)        
Total cash consideration 168,661,644        
Fair value of deferred payment liability 14,807,276        
Post-close settlement to be paid to Stronghold 3,511,170        
Fair value of consideration paid to seller 393,980,091        
Direct transaction costs 9,162,143        
Total consideration 403,142,234        
Fair value of assets acquired:          
Oil and natural gas properties 439,589,683        
Inventory and fixed assets 4,527,103        
Amount attributable to assets acquired 444,116,786        
Fair value of liabilities assumed:          
Suspense liability 1,651,596        
Derivative liabilities, marked to market 24,784,406        
Asset retirement obligations 14,538,550        
Amount attributable to liabilities assumed 40,974,552        
Net assets acquired $ 403,142,234