Quarterly report pursuant to Section 13 or 15(d)

ACQUISITIONS AND DIVESTITURES - Narrative (Details)

v3.23.3
ACQUISITIONS AND DIVESTITURES - Narrative (Details)
$ / shares in Units, a in Thousands
 3 Months Ended 9 Months Ended
Sep. 27, 2023
USD ($)
Jul. 10, 2023
USD ($)
May 11, 2023
USD ($)
Aug. 31, 2022
USD ($)
a
$ / shares
shares
Sep. 30, 2023
USD ($)
$ / shares
Sep. 30, 2023
USD ($)
$ / shares
Sep. 30, 2022
USD ($)
Dec. 31, 2022
USD ($)
$ / shares
Aug. 30, 2022
USD ($)
ACQUISITIONS & DIVESTITURES                  
Preferred stock, par value (in dollars per share) | $ / shares         $ 0.001 $ 0.001   $ 0.001  
Asset retirement obligations         $ 28,762,663 $ 28,762,663   $ 30,226,306  
Revolving Credit Facility | Truist Securities, Citizens Bank, KeyBanc Capital Markets, And Mizuho Bank Credit Facility | Line of Credit                  
ACQUISITIONS & DIVESTITURES                  
Line of credit facility, current borrowing capacity       $ 600,000,000         $ 350,000,000
Delaware Basin                  
ACQUISITIONS & DIVESTITURES                  
Proceeds from divestiture of businesses     $ 8,300,000            
Purchase price, net of post close adjustments     7,600,000            
Decrease in asset retirement obligation     $ 2,300,000            
New Mexico Divestiture                  
ACQUISITIONS & DIVESTITURES                  
Proceeds from divestiture of businesses $ 4,500,000                
Purchase price, net of post close adjustments 3,800,000                
Decrease in asset retirement obligation $ 2,300,000                
Stronghold Acquisition                  
ACQUISITIONS & DIVESTITURES                  
Area of land | a       37          
Fair value of consideration paid to seller       $ 394,000,000          
Closing amount paid to Founders       165,900,000          
Contingent consideration       $ 15,000,000          
Payment period       6 months          
Inventory and fixed assets       $ 4,500,000          
Cash paid for realized oil derivative losses       $ 1,800,000          
Equity interest issued and issuable (in shares) | shares       21,339,986          
Shares of Preferred Stock issued (in shares) | shares       153,176          
Preferred stock, par value (in dollars per share) | $ / shares       $ 0.001          
As-Converted Shares of Ring Common Stock (in shares) | shares       42,548,892          
Commodity Derivatives - Liabilities       $ 24,800,000          
Suspense Liability       1,700,000          
Asset retirement obligations       $ 14,500,000          
Decrease in asset retirement obligation           0 $ (14,538,550)    
Deposit in escrow           0 46,500,000    
Founders Acquisition                  
ACQUISITIONS & DIVESTITURES                  
Closing amount paid to Founders   $ 42,502,799              
Asset retirement obligations   2,090,777              
Decrease in asset retirement obligation           (2,090,777) 0    
Deposit in escrow   7,500,000       $ 7,500,000 $ 0    
Purchase price adjustments   10,000,000              
Deferred cash payment   $ 15,000,000              
Deferred cash payment term   4 months              
Revenues         6,300,000        
Operating expenses         $ 1,700,000