Ring Energy, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

ACQUISITIONS & DIVESTITURES - Narrative (Details)

ACQUISITIONS & DIVESTITURES - Narrative (Details) $ / shares in Units, a in Thousands							4 Months Ended	5 Months Ended	12 Months Ended
	Dec. 29, 2023 USD ($)	Sep. 27, 2023 USD ($)	Jul. 10, 2023 USD ($)	May 11, 2023 USD ($)	Aug. 31, 2022 USD ($) a $ / shares shares	Jan. 01, 2021 USD ($)	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2023 USD ($) $ / shares	Dec. 31, 2023 USD ($) $ / shares	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2021 USD ($)	May 24, 2023 $ / shares	Aug. 30, 2022 USD ($)	Dec. 31, 2020 USD ($)	Jul. 01, 2014 USD ($)
Business Acquisition [Line Items]
Asset retirement obligation sold						$ 2,934,126			$ 5,340,211	$ 0	$ 2,934,126
Asset retirement obligations for wells acquired									$ 2,090,777	$ 14,538,550	662,705
Line of credit facility, maximum borrowing capacity					$ 600,000,000										$ 1,000,000,000
Preferred stock, par value (in dollars per share) \| $ / shares							$ 0.001	$ 0.001	$ 0.001	$ 0.001		$ 0.001
Asset retirement obligations							$ 30,226,306	$ 28,248,084	$ 28,248,084	$ 30,226,306	15,292,054			$ 17,117,135
Delaware Basin
Business Acquisition [Line Items]
Proceeds from divestiture of businesses				$ 8,300,000
Proceeds from divestiture of business				7,600,000
Decrease in asset retirement obligation				$ 2,300,000
New Mexico Divestiture
Business Acquisition [Line Items]
Proceeds from divestiture of businesses		$ 4,500,000
Proceeds from divestiture of business		3,700,000
Decrease in asset retirement obligation		$ 2,400,000
Gaines County Texas Sale
Business Acquisition [Line Items]
Proceeds from divestiture of businesses	$ 1,500,000
Proceeds from divestiture of business	1,400,000
Decrease in asset retirement obligation	500,000
Commission fees	$ 100,000
Revolving Credit Facility \| Line of Credit \| Credit Facility
Business Acquisition [Line Items]
Line of credit facility, maximum borrowing capacity					1,000,000,000
Line of credit facility, current borrowing capacity					$ 600,000,000								$ 350,000,000
Stronghold Acquisition
Business Acquisition [Line Items]
Area of land \| a					37
Fair value of consideration paid to seller					$ 393,980,091
Payments for asset acquisition					165,900,000
Contingent consideration					$ 15,000,000
Payment period					6 months
Inventory and fixed assets					$ 4,527,103
Cash paid for realized losses on August oil derivatives					$ 1,777,925
Shares of Common Stock issued (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					$ 24,784,406
Suspense liability					1,651,596
Asset retirement obligations					$ 14,538,550
Deposit in escrow									0	46,500,000	0
Decrease in asset retirement obligation									0	(14,538,550)	0
Founders Acquisition
Business Acquisition [Line Items]
Payments for asset acquisition			$ 42,502,799
Asset retirement obligations			2,090,777
Deposit in escrow			7,500,000						7,500,000	0	0
Purchase price adjustments			10,000,000
Deferred cash payment			$ 11,900,000
Revenue of acquiree								18,000,000
Expenses of acquiree								$ 5,000,000
Decrease in asset retirement obligation									$ (2,090,777)	$ 0	$ 0
Vin Fisher Operating Inc
Business Acquisition [Line Items]
Cash consideration						2,000,000
Asset retirement obligations for wells acquired						$ 662,705
Stronghold Energy II Operating LLC
Business Acquisition [Line Items]
Revenues							40,400,000
Operating expenses							$ 13,600,000