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

Annual report pursuant to Section 13 and 15(d)

DERIVATIVE FINANCIAL INSTRUMENTS - Current Derivative Contracts (Details)

DERIVATIVE FINANCIAL INSTRUMENTS - Current Derivative Contracts (Details)	12 Months Ended
	Dec. 31, 2023 MMBTU $ / MMBTU $ / bbl bbl
Oil \| Swap \| Q1 2024
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (Bbl) \| bbl	170,625
Weighted average swap price	67.40
Oil \| Swap \| Q2 2024
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (Bbl) \| bbl	156,975
Weighted average swap price	66.40
Oil \| Swap \| Q3 2024
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (Bbl) \| bbl	282,900
Weighted average swap price	65.49
Oil \| Swap \| Q4 2024
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (Bbl) \| bbl	368,000
Weighted average swap price	68.43
Oil \| Swap \| Q1 2025
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (Bbl) \| bbl	0
Weighted average swap price	0
Oil \| Swap \| Q2 2025
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (Bbl) \| bbl	0
Weighted average swap price	0
Oil \| Swap \| Q3 2025
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (Bbl) \| bbl	184,000
Weighted average swap price	73.35
Oil \| Swap \| Q4 2025
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (Bbl) \| bbl	0
Weighted average swap price	0
Oil \| Argus Basis Swaps \| Q1 2024
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (MMBtu) \| MMBTU	240,000
Weighted average swap price \| $ / MMBTU	1.15
Oil \| Argus Basis Swaps \| Q2 2024
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (MMBtu) \| MMBTU	364,000
Weighted average swap price \| $ / MMBTU	1.15
Oil \| Argus Basis Swaps \| Q3 2024
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (MMBtu) \| MMBTU	368,000
Weighted average swap price \| $ / MMBTU	1.15
Oil \| Argus Basis Swaps \| Q4 2024
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (MMBtu) \| MMBTU	368,000
Weighted average swap price \| $ / MMBTU	1.15
Oil \| Argus Basis Swaps \| Q1 2025
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (MMBtu) \| MMBTU	270,000
Weighted average swap price \| $ / MMBTU	1.00
Oil \| Argus Basis Swaps \| Q2 2025
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (MMBtu) \| MMBTU	273,000
Weighted average swap price \| $ / MMBTU	1.00
Oil \| Argus Basis Swaps \| Q3 2025
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (MMBtu) \| MMBTU	276,000
Weighted average swap price \| $ / MMBTU	1.00
Oil \| Argus Basis Swaps \| Q4 2025
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (MMBtu) \| MMBTU	276,000
Weighted average swap price \| $ / MMBTU	1.00
Oil \| Deferred premium puts \| Q1 2024
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (Bbl) \| bbl	45,500
Weighted average strike price	84.70
Weighted average deferred premium price	17.15
Oil \| Deferred premium puts \| Q2 2024
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (Bbl) \| bbl	45,500
Weighted average strike price	82.80
Weighted average deferred premium price	17.49
Oil \| Deferred premium puts \| Q3 2024
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (Bbl) \| bbl	0
Weighted average strike price	0
Weighted average deferred premium price	0
Oil \| Deferred premium puts \| Q4 2024
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (Bbl) \| bbl	0
Weighted average strike price	0
Weighted average deferred premium price	0
Oil \| Deferred premium puts \| Q1 2025
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (Bbl) \| bbl	0
Weighted average strike price	0
Weighted average deferred premium price	0
Oil \| Deferred premium puts \| Q2 2025
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (Bbl) \| bbl	0
Weighted average strike price	0
Weighted average deferred premium price	0
Oil \| Deferred premium puts \| Q3 2025
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (Bbl) \| bbl	0
Weighted average strike price	0
Weighted average deferred premium price	0
Oil \| Deferred premium puts \| Q4 2025
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (Bbl) \| bbl	0
Weighted average strike price	0
Weighted average deferred premium price	0
Oil \| Two-way collars \| Q1 2024
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (Bbl) \| bbl	371,453
Weighted average put price	64.27
Weighted average call price	79.92
Oil \| Two-way collars \| Q2 2024
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (Bbl) \| bbl	334,947
Weighted average put price	64.32
Weighted average call price	79.16
Oil \| Two-way collars \| Q3 2024
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (Bbl) \| bbl	230,000
Weighted average put price	64.00
Weighted average call price	76.50
Oil \| Two-way collars \| Q4 2024
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (Bbl) \| bbl	128,800
Weighted average put price	60.00
Weighted average call price	73.24
Oil \| Two-way collars \| Q1 2025
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (Bbl) \| bbl	474,750
Weighted average put price	57.06
Weighted average call price	75.82
Oil \| Two-way collars \| Q2 2025
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (Bbl) \| bbl	464,100
Weighted average put price	60.00
Weighted average call price	69.85
Oil \| Two-way collars \| Q3 2025
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (Bbl) \| bbl	225,400
Weighted average put price	65.00
Weighted average call price	78.91
Oil \| Two-way collars \| Q4 2025
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (Bbl) \| bbl	404,800
Weighted average put price	60.00
Weighted average call price	75.68
Natural Gas \| NYMEX Swaps \| Q1 2024
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (MMBtu) \| MMBTU	101,615
Weighted average swap price \| $ / MMBTU	3.62
Natural Gas \| NYMEX Swaps \| Q2 2024
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (MMBtu) \| MMBTU	138,053
Weighted average swap price \| $ / MMBTU	3.61
Natural Gas \| NYMEX Swaps \| Q3 2024
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (MMBtu) \| MMBTU	121,587
Weighted average swap price \| $ / MMBTU	3.59
Natural Gas \| NYMEX Swaps \| Q4 2024
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (MMBtu) \| MMBTU	644,946
Weighted average swap price \| $ / MMBTU	4.45
Natural Gas \| NYMEX Swaps \| Q1 2025
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (MMBtu) \| MMBTU	616,199
Weighted average swap price \| $ / MMBTU	3.78
Natural Gas \| NYMEX Swaps \| Q2 2025
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (MMBtu) \| MMBTU	591,725
Weighted average swap price \| $ / MMBTU	3.43
Natural Gas \| NYMEX Swaps \| Q3 2025
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (MMBtu) \| MMBTU	285,200
Weighted average swap price \| $ / MMBTU	3.73
Natural Gas \| NYMEX Swaps \| Q4 2025
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (MMBtu) \| MMBTU	0
Weighted average swap price \| $ / MMBTU	0
Natural Gas \| Two-way collars \| Put Option \| Q1 2024
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (MMBtu) \| MMBTU	417,000
Weighted average put price \| $ / MMBTU	3.94
Natural Gas \| Two-way collars \| Put Option \| Q2 2024
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (MMBtu) \| MMBTU	605,150
Weighted average put price \| $ / MMBTU	3.94
Natural Gas \| Two-way collars \| Put Option \| Q3 2024
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (MMBtu) \| MMBTU	584,200
Weighted average put price \| $ / MMBTU	3.94
Natural Gas \| Two-way collars \| Put Option \| Q4 2024
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (MMBtu) \| MMBTU	27,600
Weighted average put price \| $ / MMBTU	3.00
Natural Gas \| Two-way collars \| Put Option \| Q1 2025
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (MMBtu) \| MMBTU	27,000
Weighted average put price \| $ / MMBTU	3.00
Natural Gas \| Two-way collars \| Put Option \| Q2 2025
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (MMBtu) \| MMBTU	27,300
Weighted average put price \| $ / MMBTU	3.00
Natural Gas \| Two-way collars \| Put Option \| Q3 2025
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (MMBtu) \| MMBTU	308,200
Weighted average put price \| $ / MMBTU	3.00
Natural Gas \| Two-way collars \| Put Option \| Q4 2025
Derivative Instruments, Gain (Loss) [Line Items]
Hedged volume (MMBtu) \| MMBTU	598,000
Weighted average put price \| $ / MMBTU	3.00
Natural Gas \| Two-way collars \| Call Option \| Q1 2024
Derivative Instruments, Gain (Loss) [Line Items]
Weighted average call price \| $ / MMBTU	6.15
Natural Gas \| Two-way collars \| Call Option \| Q2 2024
Derivative Instruments, Gain (Loss) [Line Items]
Weighted average call price \| $ / MMBTU	6.16
Natural Gas \| Two-way collars \| Call Option \| Q3 2024
Derivative Instruments, Gain (Loss) [Line Items]
Weighted average call price \| $ / MMBTU	6.17
Natural Gas \| Two-way collars \| Call Option \| Q4 2024
Derivative Instruments, Gain (Loss) [Line Items]
Weighted average call price \| $ / MMBTU	4.15
Natural Gas \| Two-way collars \| Call Option \| Q1 2025
Derivative Instruments, Gain (Loss) [Line Items]
Weighted average call price \| $ / MMBTU	4.15
Natural Gas \| Two-way collars \| Call Option \| Q2 2025
Derivative Instruments, Gain (Loss) [Line Items]
Weighted average call price \| $ / MMBTU	4.15
Natural Gas \| Two-way collars \| Call Option \| Q3 2025
Derivative Instruments, Gain (Loss) [Line Items]
Weighted average call price \| $ / MMBTU	4.75
Natural Gas \| Two-way collars \| Call Option \| Q4 2025
Derivative Instruments, Gain (Loss) [Line Items]
Weighted average call price \| $ / MMBTU	4.15