XML 41 R30.htm IDEA: XBRL DOCUMENT
v3.25.1

DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Impact of Company's Contracts on its Balance Sheets | The following presents the impact of the Company’s contracts on its Condensed Balance Sheets for the periods indicated.
| As of
| March 31, 2025 |  | December 31, 2024
Commodity derivative instruments, marked to market: |  |  |
Derivatives assets, current | $ | 5,309,892 |  |  | $ | 5,497,057 |
Derivative assets, noncurrent | $ | 5,020,380 |  |  | $ | 5,473,375 |
Derivative liabilities, current | $ | 5,426,195 |  |  | $ | 6,410,547 |
Derivative liabilities, noncurrent | $ | 3,632,133 |  |  | $ | 2,912,745 |
Schedule of Components of Gain (Loss) on Derivative Contracts | The components of “Gain (loss) on derivative contracts” from the Condensed Statements of Operations are as follows for the respective periods:
|  |  | For the Three Months Ended
|  |  |  |  | March 31, 2025 |  | March 31, 2024
Oil derivatives: |  |  |  |  |  |  |
Realized gain (loss) on oil derivatives |  |  |  |  | $ | (640,267) |  |  | $ | (2,738,970) |
Unrealized gain (loss) on oil derivatives |  |  |  |  | 2,341,425 |  |  | (16,994,322) |
Gain (loss) on oil derivatives |  |  |  |  | $ | 1,701,158 |  |  | $ | (19,733,292) |
Natural gas derivatives: |  |  |  |  |  |  |
Realized gain (loss) on natural gas derivatives |  |  |  |  | $ | 86,673 |  |  | $ | 1,277,455 |
Unrealized gain (loss) on natural gas derivatives |  |  |  |  | (2,716,621) |  |  | (558,658) |
Gain (loss) on natural gas derivatives |  |  |  |  | $ | (2,629,948) |  |  | $ | 718,797 |
Gain (loss) on derivative contracts |  |  |  |  | $ | (928,790) |  |  | $ | (19,014,495) |
Schedule of Components of Cash Received (Paid) for Commodity Derivative Settlements | The components of “Cash received (paid) for derivative settlements, net” within the Condensed Statements of Cash Flows are as follows for the respective periods:
|  |  | For the Three Months Ended
|  |  |  |  | March 31, 2025 |  | March 31, 2024
Cash flows from operating activities |  |  |  |  |  |  |
Cash received (paid) for oil derivatives |  |  |  |  | $ | (640,267) |  |  | $ | (2,738,970) |
Cash received (paid) for natural gas derivatives |  |  |  |  | 86,673 |  |  | 1,277,455 |
Cash received (paid) for derivative settlements, net |  |  |  |  | $ | (553,594) |  |  | $ | (1,461,515) |
Schedule of Current Derivative Contracts | The following tables reflect the details of current derivative contracts as of March 31, 2025 (Quantities are in barrels (Bbl) for the oil derivative contracts and in million British thermal units (MMBtu) for the natural gas derivative contracts):
|  |  |  |  | Oil Hedges (WTI)
|  |  |  |  | Q2 2025 |  | Q3 2025 |  | Q4 2025 |  | Q1 2026 |  | Q2 2026 |  | Q3 2026 |  | Q4 2026 |  | Q1 2027
Swaps: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedged volume (Bbl) |  |  |  |  | 151,763 |  |  | 351,917 |  |  | 141,755 |  |  | 477,350 |  |  | 457,101 |  |  | 59,400 |  |  | 423,000 |  |  | 381,500 |
Weighted average swap price |  |  |  |  | $ | 68.53 |  |  | $ | 71.41 |  |  | $ | 69.13 |  |  | $ | 70.16 |  |  | $ | 69.38 |  |  | $ | 66.70 |  |  | $ | 66.70 |  |  | $ | 63.80 |
Two-way collars: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedged volume (Bbl) |  |  |  |  | 464,100 |  |  | 225,400 |  |  | 404,800 |  |  | — |  |  | — |  |  | 379,685 |  |  | — |  |  | — |
Weighted average put price |  |  |  |  | $ | 60.00 |  |  | $ | 65.00 |  |  | $ | 60.00 |  |  | $ | — |  |  | $ | — |  |  | $ | 60.00 |  |  | $ | — |  |  | $ | — |
Weighted average call price |  |  |  |  | $ | 69.85 |  |  | $ | 78.91 |  |  | $ | 75.68 |  |  | $ | — |  |  | $ | — |  |  | $ | 72.50 |  |  | $ | — |  |  | $ | — |
|  |  |  |  | Gas Hedges (Henry Hub)
|  |  |  |  | Q2 2025 |  | Q3 2025 |  | Q4 2025 |  | Q1 2026 |  | Q2 2026 |  | Q3 2026 |  | Q4 2026 |  | Q1 2027
NYMEX Swaps: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedged volume (MMBtu) |  |  |  |  | 513,900 |  |  | 455,250 |  |  | 128,400 |  |  | 140,600 |  |  | 662,300 |  |  | 121,400 |  |  | 613,300 |  |  | — |
Weighted average swap price |  |  |  |  | $ | 3.60 |  |  | $ | 3.88 |  |  | $ | 4.25 |  |  | $ | 4.20 |  |  | $ | 3.54 |  |  | $ | 4.22 |  |  | $ | 3.83 |  |  | $ | — |
Two-way collars: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedged volume (MMBtu) |  |  |  |  | 18,300 |  |  | 308,200 |  |  | 598,000 |  |  | 553,500 |  |  | — |  |  | 515,728 |  |  | — |  |  | 700,000 |
Weighted average put price |  |  |  |  | $ | 3.00 |  |  | $ | 3.00 |  |  | $ | 3.00 |  |  | $ | 3.50 |  |  | $ | — |  |  | $ | 3.00 |  |  | $ | — |  |  | $ | 4.00 |
Weighted average call price |  |  |  |  | $ | 4.15 |  |  | $ | 4.75 |  |  | $ | 4.15 |  |  | $ | 5.03 |  |  | $ | — |  |  | $ | 3.93 |  |  | $ | — |  |  | $ | 5.20 |
|  |  |  |  | Oil Hedges (basis differential)
|  |  |  |  | Q2 2025 |  | Q3 2025 |  | Q4 2025 |  | Q1 2026 |  | Q2 2026 |  | Q3 2026 |  | Q4 2026 |  | Q1 2027
Argus basis swaps: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedged volume (Bbl) |  |  |  |  | 183,000 |  |  | 276,000 |  |  | 276,000 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Weighted average spread price (1) |  |  |  |  | $ | 1.00 |  |  | $ | 1.00 |  |  | $ | 1.00 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
|  |  |  |  | Gas Hedges (basis differential)
|  |  |  |  | Q2 2025 |  | Q3 2025 |  | Q4 2025 |  | Q1 2026 |  | Q2 2026 |  | Q3 2026 |  | Q4 2026 |  | Q1 2027
El Paso Permian Basin basis swaps: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedged volume (MMBtu) |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 700,000 |
Weighted average spread price (2) |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 0.74 |
(1) The oil basis swap hedges are calculated as the fixed price (weighted average spread price above) less the difference between WTI Midland and WTI Cushing, in the issue of Argus Americas Crude. (2) The gas basis swap hedges are calculated as the Henry Hub natural gas price less the fixed amount specified as the weighted average spread price above.

X
- Definition Tabular disclosure of components of cash (paid) received for commodity derivative settlements. + References No definition available. + Details
Name: | rei_ScheduleOfComponentsOfCashPaidReceivedForCommodityDerivativeSettlementsTableTextBlock
Namespace Prefix: | rei_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 4CC -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CC + Details
Name: | us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration