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

ACQUISITIONS & DIVESTITURES	6 Months Ended
ACQUISITIONS & DIVESTITURES	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS & DIVESTITURES	NOTE 5 — ACQUISITIONS & DIVESTITURES Delaware Basin Sale On May 11, 2023, the Company completed the divestiture of its Delaware Basin assets to an unaffiliated party for preliminary cash consideration of approximately $8.0 million, subject to customary final purchase price adjustments. As part of the divestiture, the Company was relieved of an asset retirement obligation balance of approximately $2.3 million. Stronghold Acquisition On July 1, 2022, Ring, as buyer, and Stronghold Energy II Operating, LLC, a Delaware limited liability company (“Stronghold OpCo”) and Stronghold Energy II Royalties, LP, a Delaware limited partnership (“Stronghold RoyaltyCo”, together with Stronghold OpCo, collectively, “Stronghold”), as seller, entered into a purchase and sale agreement (the “Purchase Agreement”). Pursuant to the Purchase Agreement, Ring acquired (the “Stronghold Acquisition”) interests in oil and gas leases and related property of Stronghold consisting of approximately 37,000 net acres located in the Central Basin Platform of the Texas Permian Basin. On August 31, 2022, Ring completed the Stronghold Acquisition.