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

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2020

The following table summarizes the valuation of our assets and liabilities that are measured at fair value on a recurring basis.


	Fair Value Measurement Classification
	Quoted prices in
	Active Markets
	for Identical Assets		Significant Other		Significant
	or (Liabilities)		Observable Inputs		Unobservable
	(Level 1)		(Level 2)		Inputs (Level 3)		Total
As of December 31, 2018

Oil and gas derivative contracts	$	—	$	—	$	—	$	—

Total	$	—	$	—	$	—	$	—

As of December 31, 2019

Oil and gas derivative contracts	$	—	$	(3,000,078)	$	—	$	(3,000,078)

Total	$	—	$	(3,000,078)	$	—	$	(3,000,078)

As of December 31, 2020

Oil and gas derivative contracts	$	—	$	(4,156,601)	$	—	$	(4,156,601)

Total	$	—	$	(4,156,601)	$	—	$	(4,156,601)