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ACQUISITIONS & DIVESTITURES - Stronghold Acquisition - Preliminary Allocation of the Total Cost of the Stronghold Acquisition (Details) - USD ($) |  | 12 Months Ended |
--- | --- | --- | ---
Aug. 31, 2022 | Dec. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021
Fair value of assets acquired: |  |  |  |  |
Oil and natural gas properties |  | $ 1,809,309,848 | $ 1,663,548,249 |  |
Fair value of liabilities assumed: |  |  |  |  |
Asset retirement obligations |  | 26,382,517 | 28,248,084 | $ 30,226,306 | $ 15,292,054
Stronghold Acquisition |  |  |  |  |
Consideration: |  |  |  |  |
Shares of Common Stock issued (in shares) | 21,339,986 |  |  |  |
Ring Common Stock Price (in dollars per share) | $ 3.24 |  |  |  |
Common Stock Consideration | $ 69,141,555 |  |  |  |
Shares of Preferred Stock issued (in shares) | 153,176 |  |  |  |
Aggregate Liquidation Preference | $ 153,176,000 |  |  |  |
Conversion Price (in dollars per share) | $ 3.60 |  |  |  |
As-Converted Shares of Ring Common Stock (in shares) | 42,548,892 |  |  |  |
Preferred Stock Consideration | $ 137,858,446 |  |  |  |
Cash consideration: |  |  |  |  |
Closing amount paid to Stronghold | 121,392,455 | 0 | 0 | 121,392,455 |
Escrow deposit paid | 46,500,000 |  |  |  |
Cash paid for inventory and fixed assets | 4,527,103 |  |  |  |
Cash paid for realized losses on August oil derivatives | 1,777,925 |  |  |  |
Cash received for post-close adjustments, net | (5,535,839) | $ 0 | $ 0 | $ (5,535,839) |
Total cash consideration | 168,661,644 |  |  |  |
Fair value of deferred payment liability | 14,807,276 |  |  |  |
Post-close settlement paid to Stronghold | 3,511,170 |  |  |  |
Fair value of consideration paid to seller | 393,980,091 |  |  |  |
Direct transaction costs | 9,162,143 |  |  |  |
Total consideration | 403,142,234 |  |  |  |
Fair value of assets acquired: |  |  |  |  |
Oil and natural gas properties | 439,589,683 |  |  |  |
Inventory and fixed assets | 4,527,103 |  |  |  |
Amount attributable to assets acquired | 444,116,786 |  |  |  |
Fair value of liabilities assumed: |  |  |  |  |
Suspense liability | 1,651,596 |  |  |  |
Derivative liabilities, marked to market | 24,784,406 |  |  |  |
Asset retirement obligations | 14,538,550 |  |  |  |
Amount attributable to liabilities assumed | 40,974,552 |  |  |  |
Net assets acquired | $ 403,142,234 |  |  |  |

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