RING ENERGY, INC. REI Cash Flow

Ring energy, inc. (REI)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Apr'11	Mar'11
Cash Flows From Operating Activities
Net income
69,031	29,496	26,273	22,079	7,603	8,999	11,569	8,949	6,140	1,753	5,786	-3,231	-21,083	-37,637	-44,633	-39,827	-23,352	-9,052	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	71	0	0	0	-
Net income (loss)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-2,004	-1,669	0	0	0	-	0	0	-	0
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation, depletion and amortization
56,958	56,204	52,108	48,923	43,452	39,024	35,660	29,552	25,545	20,517	16,374	14,119	11,562	11,483	12,190	14,290	14,916	15,175	13,832	13,659	13,931	11,807	10,129	6,551	3,470	2,284	1,871	1,071	769	506	381	263	170	89	0	0	0	0
Ceiling test impairment
-	-	-	-	-	-	-	-	-	-	-	-	-	56,513	65,825	56,176	30,724	9,312	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accretion expense
959	943	794	725	661	606	640	583	591	567	547	563	514	487	528	506	460	418	300	239	197	154	120	92	66	53	0	0	0	-	-	-	-	-	-	-	0	-
Amortization of deferred financing costs
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accretion expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-
Accretion expenses.
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-
Share-based compensation
2,921	3,082	3,215	3,430	3,624	3,870	4,013	3,965	3,775	3,685	3,382	2,978	2,673	2,267	2,252	2,347	2,496	2,566	2,549	2,528	2,512	2,517	2,821	3,086	3,332	3,489	2,835	2,201	1,469	944	0	0	0	-	-	0	0	0
Deferred income tax provision
-19,610	-9,500	-5,646	-4,518	-2,646	-2,537	-4,869	-5,143	-4,749	-3,862	-5,220	-357	10,093	19,987	25,977	23,395	13,401	5,003	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax deficiency related to share-based compensation
-1,330	-3,855	4,672	4,722	-2,695	-907	-299	-797	-691	49	-84	-310	-416	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in fair value of derivative instruments
44,427	-3,000	9,491	7,047	4,418	3,968	-6,490	-5,858	-4,758	-3,968	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-
Gain on derivative put options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-
Gain on change in value of Ring Energy, Inc. common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-
Interest expense on advances from Ring Energy, Inc.
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-
Provision for incomes taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-
Changes in assets and liabilities:
Accounts receivable
-12,688	10,035	6,864	10,393	14,946	-666	4,940	3,819	9,055	9,980	4,935	5,136	1,795	-229	-1,807	-2,929	-2,622	-2,163	1,017	1,867	2,973	2,412	5,252	4,408	2,529	3,470	-937	280	363	326	25	-5	-141	-34	0	0	0	-
Write-off of website costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0
Management fees.
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0
Interest expense.
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Loss on impairment.
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
(Increase) in note interest receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
(Increase) in oil production receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Prepaid expenses and retainers
-1,525	1,878	5,869	6,068	303	318	343	312	-272	-268	-274	-273	-308	-334	-260	-211	629	806	847	916	102	94	164	231	-10	5	-123	-42	-69	-87	-74	-199	-142	-121	0	0	0	0
(Increase) decrease in deposits
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0
Accounts payable
0	-	-	-	0	-	-	-	-25,039	12,375	8,790	12,969	6,614	-2,233	-89	-3,444	316	-4,929	-1,632	-1,655	-2,739	9,031	0	0	0	-	-	-	-	-	-	-	-	0	0	0	-	0
Settlement of asset retirement obligation
-1,481	-1,295	-741	-697	-535	-577	-613	-722	-907	-766	-838	-548	-248	-240	0	0	0	-	-	-	-	-39	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	1,348	352	481	75	0	0	0	-
Accrued compensation.
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	0	-	-
Increase (decrease) in operating costs payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Net Cash Provided by Operating Activities
124,324	106,616	80,941	72,491	93,851	70,357	66,507	57,962	18,125	42,806	34,621	32,305	23,971	11,214	11,708	9,346	13,705	9,397	14,304	17,758	20,134	33,708	25,055	19,778	16,015	8,116	4,507	1,847	-288	-31	266	-434	-85	0	0	0	0	0
Cash Flows From Investing Activities
Payments to purchase oil and natural gas properties
-9,477	3,400	263,827	269,507	16,953	4,656	5,857	7,224	25,819	28,682	30,954	33,116	13,475	10,193	6,865	3,023	77,591	77,902	79,808	80,764	7,887	15,054	13,505	14,415	13,428	5,192	7,934	5,464	3,582	3,684	0	0	0	-	-	0	0	0
Payments to develop oil and natural gas properties
134,359	152,125	162,804	166,414	206,017	198,870	195,174	189,004	139,965	124,680	97,939	69,122	43,092	26,554	26,171	25,231	26,021	31,430	50,671	65,651	84,968	90,160	72,685	60,903	44,330	29,103	28,601	12,531	5,277	6,532	0	0	0	-	-	0	0	-
Proceeds from disposal of fixed assets subject to depreciation
-	-	-	-	-	105	105	105	14	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of fixed assets subject to depreciation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	330	682	1,028	992	951	0	0	0	-	-	-	-	159	0	0	0	-	-	-	0	-
Purchase of inventory for development
-	-	-	-	-	-	-	-	-	4,214	4,398	4,398	4,398	1,582	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payables assumed.
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-
Website costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0
Note receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Purchase of office equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0
Net Cash Used in Investing Activities
-392,396	-423,040	-426,632	-435,921	-222,879	-203,421	-202,350	-197,670	-167,504	-157,912	-133,602	-106,833	-60,975	-38,339	-32,859	-28,268	-103,778	-109,663	-131,311	-147,444	-93,848	-106,166	-86,887	-75,646	-55,060	-34,439	-26,927	-17,026	-11,564	-10,377	-6,334	-4,064	-5,768	-5,472	0	0	0	0
Cash Flows From Financing Activities
Amounts paid for registration statement for future offerings
-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Plugging and abandonment cost incurred
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from revolving line of credit
282,000	327,000	349,500	360,500	84,500	39,500	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-
Proceeds from borrowings from Ring Energy, Inc.
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,000	1,375	850	0	0	0	-
Proceeds from borrowings under revolving line of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	-
Proceeds from issuance of common stock
-	-	-	-	-	81,821	81,737	140,846	140,849	59,026	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	73,201	0	0	0	-	-	-	-	0	0	0	0	-
Proceeds from option exercise
-	-	-	-	-	-	-	-	-	-	-	-	-	112	117	184	94	134	130	255	255	215	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Reduction of financing lease liabilities
221	153	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of notes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments on revolving line of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-
Capital contributions from shareholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	100	0	0	0	-
Capital distributions to owners
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-
Proceeds from related party payables
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Payments on related party payables
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Issuance of common stock, net of costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Net Cash Provided by (Used in) Financing Activities
277,997	323,064	349,519	360,577	84,599	121,421	98,737	141,003	140,996	59,026	137,607	78,335	88,610	93,780	20,281	21,483	91,034	96,074	91,058	89,918	38,831	28,729	83,031	82,971	72,779	73,269	20,441	26,996	15,727	15,802	15,808	11,092	5,947	5,422	0	0	0	0
Net Change in Cash
9,924	6,640	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Change in Cash
-	-	-	-	-	-	-	-	-8,382	-	38,627	3,807	51,606	66,655	-869	2,561	961	-4,190	-25,948	-39,767	-34,882	-43,728	21,199	27,103	33,735	46,946	-1,978	11,817	3,873	5,392	9,740	6,592	94	-49	0	0	0	0
Supplemental Cash Flow Information
Cash paid for interest
13,867	10,364	6,090	1,212	988	323	54	44	44	0	84	180	296	649	973	895	779	426	0	0	0	-	-	-	-	-	-	-	-	221	184	175	184	91	0	0	0	0
Noncash Investing and Financing Activities
Asset retirement obligation incurred during development
522	631	855	1,052	1,106	1,311	1,509	1,521	1,433	1,297	906	697	513	308	295	213	179	171	926	1,329	1,754	2,022	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Less: Elimination of note payable to Ring Energy, Inc.
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	-
Less: Prepaid expenses acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	-
Proceeds from issuance of common stock to Ring Energy, Inc. shareholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-
Principal payments on revolving line of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	-
Asset retirement obligations assumed
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-269	0	0	0	-
Payments with Ring Energy, Inc. shares
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-360	0	0	0	-
Derivative put option incurred
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-350	0	0	0	-
Cash payments for oil and natural gas properties acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,144	0	0	0	-
Issuance of common stock to Ring Energy, Inc. shareholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	-
Cash at Beginning of Period
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-
Oil and natural gas properties acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,104	0	0	0	-
Accounts receivable acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-
Deferred tax liability assumed (net)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-
Accounts payable assumed
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-32	0	0	0	-
Less: Tax benefit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0
Asset retirement obligation revision of estimate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	211	211	211	211	0	0	0	0	-	-	-	-	-
Capitalized expenditures attributable to drilling projects financed through current liabilities
-13,235	15,170	28,958	48,800	47,605	26,000	42,000	34,000	31,300	23,000	5,000	8,000	4,700	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Use of inventory in property development
-	-	-	-	-	-	-	-	-	5,797	3,364	2,521	687	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of oil and gas properties
Acquisition payable to be settled through equity
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition payable to be settled through cash payment
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Less: Property and equipment acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	-
Proceeds from issuance of common stock to Ring Energy, Inc. shareholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-
Capital contribution of Ring Energy, Inc. common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	200	0	0	0	-
Imputed interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0
Forgiveness of related party payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0