Ring Energy (REI) 10-K15 Mar 182017 FY Annual reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2017	Mar. 14, 2018	Jun. 30, 2017
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Entity Registrant Name	RING ENERGY, INC.
Entity Central Index Key	1,384,195
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 586,591,070
Trading Symbol	REI
Entity Common Stock, Shares Outstanding		60,388,029

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Current Assets
Cash	$ 15,006,581	$ 71,086,381
Accounts receivable	12,833,883	3,453,238
Joint interest billing receivable	1,054,022	454,461
Prepaid expenses and retainers	229,438	226,835
Total Current Assets	29,123,924	75,220,915
Properties and Equipment
Oil and natural gas properties subject to amortization	433,591,134	250,133,965
Inventory for property development	0	1,582,427
Fixed assets subject to depreciation	1,884,818	1,549,311
Total Properties and Equipment	435,475,952	253,265,703
Accumulated depreciation, depletion and amortization	(61,864,932)	(41,347,152)
Net Properties and Equipment	373,611,020	211,918,551
Deferred Income Taxes	11,232,200	20,051,908
Deferred Financing Costs	135,342	406,025
Total Assets	414,102,486	307,597,399
Current Liabilities
Accounts payable	44,475,163	9,099,391
Derivative liabilities	3,968,286	0
Total Current Liabilities	48,443,449	9,099,391
Asset retirement obligations	9,055,697	7,957,035
Total Liabilities	57,499,146	17,056,426
Stockholders' Equity
Preferred stock - $0.001 par value; 50,000,000 shares authorized; no shares issued or outstanding	0	0
Common stock - $0.001 par value; 150,000,000 shares authorized; 54,224,029 shares and 49,113,063 shares issued and outstanding, respectively	54,224	49,113
Additional paid-in capital	397,904,769	335,197,845
Accumulated deficit	(41,355,653)	(44,705,985)
Total Stockholders' Equity	356,603,340	290,540,973
Total Liabilities and Stockholders' Equity	$ 414,102,486	$ 307,597,399

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2017	Dec. 31, 2016
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	50,000,000	50,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, Shares Authorized	150,000,000	150,000,000
Common Stock, Shares, Issued	54,224,029	49,113,063
Common Stock, Shares, Outstanding	54,224,029	49,113,063

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
STATEMENTS OF OPERATIONS - USD ($)	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Oil and Gas Revenues	$ 66,699,700	$ 30,850,248	$ 31,013,892
Costs and Operating Expenses
Oil and gas production costs	15,978,362	9,867,800	9,958,380
Oil and gas production taxes	3,152,562	1,504,620	1,468,073
Depreciation, depletion and amortization	20,517,780	11,483,314	15,175,791
Ceiling test impairment	0	56,513,016	9,312,203
Asset retirement obligation accretion	567,968	487,182	418,384
General and administrative expense	10,515,887	8,027,077	7,995,395
Total Costs and Operating Expenses	50,732,559	87,883,009	44,328,226
Income (Loss) from Operations	15,967,141	(57,032,761)	(13,314,334)
Other Income (Expense)
Interest income	291,083	56,498	6,984
Interest expense	0	(649,009)	(749,134)
Realized loss on derivatives	(119,897)	0	0
Unrealized loss on change in fair value of derivatives	(3,968,287)	0	0
Net Other Income (Expense)	(3,797,101)	(592,511)	(742,150)
Income (Loss) Before Provision for Income Taxes	12,170,040	(57,625,272)	(14,056,484)
(Provision for) Benefit from Income Taxes	(10,416,171)	19,987,585	5,003,713
Net Income (Loss)	$ 1,753,869	$ (37,637,687)	$ (9,052,771)
Basic Earnings (Loss) per share	$ 0.03	$ (0.97)	$ (0.32)
Diluted Earnings (Loss) per share	$ 0.03	$ (0.97)	$ (0.32)

STATEMENTS OF STOCKHOLDERS_ EQU

STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings (AccumulatedDeficit) [Member]
Balance at Dec. 31, 2014	$ 142,542,530	$ 25,734	$ 140,532,323	$ 1,984,473
Balance (in shares) at Dec. 31, 2014		25,734,467
Share-based compensation	2,566,716	$ 0	2,566,716	0
Options exercised (cashless exercise)	0	$ 17	(17)	0
Options exercised (cashless exercise) (in shares)		16,875
Options exercised	134,800	$ 41	134,759	0
Options exercised (in shares)		40,000
Common stock issued for cash, net	50,039,853	$ 4,600	50,035,253	0
Common stock issued for cash, net (in shares)		4,600,000
Net income (loss)	(9,052,771)	$ 0	0	(9,052,771)
Balance at Dec. 31, 2015	186,231,128	$ 30,392	193,269,034	(7,068,298)
Balance (in shares) at Dec. 31, 2015		30,391,342
Share-based compensation	2,267,053	$ 0	2,267,053	0
Options exercised (cashless exercise)	0	$ 0	0	0
Options exercised (cashless exercise) (in shares)		734
Options exercised	112,500	$ 26	112,474	0
Options exercised (in shares)		25,600
Common stock issued for cash, net	139,567,979	$ 18,695	139,549,284	0
Common stock issued for cash, net (in shares)		18,695,387
Net income (loss)	(37,637,687)	$ 0	0	(37,637,687)
Balance at Dec. 31, 2016	290,540,973	$ 49,113	335,197,845	(44,705,985)
Balance (in shares) at Dec. 31, 2016		49,113,063
Modified Retrospective adjustment	1,596,463			1,596,463
Share-based compensation	3,685,079	$ 0	3,685,079	0
Options exercised (cashless exercise)	0	$ 133	(133)	0
Options exercised (cashless exercise) (in shares)		133,308
Options exercised	0	$ 0	0	0
Options exercised (in shares)		0
Common stock issued for cash, net	59,026,956	$ 4,978	59,021,978	0
Common stock issued for cash, net (in shares)		4,977,658
Net income (loss)	1,753,869	$ 0	0	1,753,869
Balance at Dec. 31, 2017	$ 356,603,340	$ 54,224	$ 397,904,769	$ (41,355,653)
Balance (in shares) at Dec. 31, 2017		54,224,029

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash Flows From Operating Activities
Net income (loss)	$ 1,753,869	$ (37,637,687)	$ (9,052,771)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation, depletion and amortization	20,517,780	11,483,314	15,175,791
Ceiling test impairment	0	56,513,016	9,312,203
Accretion expense	567,968	487,182	418,384
Share-based compensation	3,685,079	2,267,053	2,566,716
Deferred income tax expense (benefit)	3,862,827	(19,987,585)	(5,003,713)
Excess tax benefit related to share-based compensation	(49,896)	0	0
Adjustment to deferred tax asset for change in effective tax rate	6,603,240
Change in fair value of derivative instruments	3,968,286	0	0
Changes in assets and liabilities:
Accounts receivable	(9,980,206)	229,324	2,163,440
Prepaid expenses	268,080	334,162	(806,422)
Accounts payable	12,375,772	(2,233,776)	(4,929,884)
Settlement of asset retirement obligation	(766,595)	(240,606)	(446,192)
Net Cash Provided by Operating Activities	42,806,204	11,214,397	9,397,552
Cash Flows From Investing Activities
Payments to purchase oil and natural gas properties	(28,682,298)	(10,193,927)	(77,902,553)
Payments to develop oil and natural gas properties	(124,680,469)	(26,554,171)	(31,430,355)
Purchase of inventory for development	(4,214,686)	(1,582,427)	0
Purchase of equipment, vehicles and leasehold improvements	(335,507)	(9,320)	(330,182)
Net Cash Used in Investing Activities	(157,912,960)	(38,339,845)	(109,663,090)
Cash Flows From Financing Activities
Proceeds from revolving line of credit	0	7,000,000	45,900,000
Proceeds from issuance of common stock	59,026,956	139,567,979	50,039,853
Principal payments on revolving line of credit	0	(52,900,000)	0
Proceeds from option exercise	0	112,500	134,800
Net Cash Provided by Financing Activities	59,026,956	93,780,479	96,074,653
Net Increase (Decrease) in Cash	(56,079,800)	66,655,031	(4,190,885)
Cash at Beginning of Period	71,086,381	4,431,350	8,622,235
Cash at End of Period	15,006,581	71,086,381	4,431,350
Supplemental Cash Flow Information
Cash paid for interest	0	649,010	426,742
Noncash Investing and Financing Activities
Asset retirement obligation incurred during development	1,297,289	308,509	171,635
Asset retirement obligation acquired	0	0	3,361,634
Use of inventory in property development	5,797,113	0	0
Capitalized expenditures attributable to drilling projects financed through current liabilities	$ 23,000,000	$ 0	$ 0

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Significant Accounting Policies [Text Block]	Concentration of Credit Risk and Accounts Receivable 70,836,381 14,756,581 Substantially all of the Company’s accounts receivable is from purchasers of oil and gas. Oil and gas sales are generally unsecured. The Company has not had any significant credit losses in the past and believes its accounts receivable are fully collectable. Accordingly, no allowance for doubtful accounts has been provided at December 31, 2017 and 2016. The Company also has a joint interest billing receivable. Joint interest billing receivables are collateralized by the pro rata revenue attributable to the joint interest holders and further by the interest itself. The Company records a liability in the period in which an asset retirement obligation (“ARO”) is incurred, in an amount equal to the discounted estimated fair value of the obligation that is capitalized. Thereafter this liability is accreted up to the final retirement cost. An ARO is a future expenditure related to the disposal or other retirement of certain assets. The Company’s ARO relates to future plugging and abandonment expenses of its oil and gas properties and related facilities disposal. All capitalized costs of oil and gas properties, including the estimated future costs to develop proved reserves and estimated future costs to plug and abandon wells and costs of site restoration, less the estimated salvage value of equipment associated with the oil and gas properties, are amortized on the unit-of-production method using estimates of proved reserves as determined by independent engineers. If the results of an assessment indicate that the properties are impaired, the amount of the impairment is offset to the capitalized costs to be amortized. For the Years Ended December 31, 2017 2016 2015 Depletion $ 20,197,690 $ 11,179,858 $ 14,889,487 Depletion rate, per barrel-of-oil-equivalent (BOE) $ 13.92 $ 12.73 $ 20.03 In addition, capitalized costs less accumulated amortization and related deferred income taxes shall not exceed an amount (the full cost ceiling) equal to the sum of: 1) the present value of estimated future net revenues discounted ten percent computed in compliance with SEC guidelines; 2) plus the cost of properties not being amortized; 3) plus the lower of cost or estimated fair value of unproven properties included in the costs being amortized; 4) less income tax effects related to differences between the book and tax basis of the properties. For the years ended December 31, 2016 and 2015, the Company took write downs on oil and gas properties as a result of the ceiling test in the amount of $ 56,513,016 9,312,203 Leasehold improvements 3-10 years Office equipment and software 3-7 years Machinery and equipment 5-10 years Depreciation expense was $ 320,090 303,456 286,304 On December 22, 2017, the President of the United States signed into law the Tax Cuts and Jobs Act of 2017 (the “Tax Act”). The SEC subsequently issued a Staff Accounting Bulletin No. 118, “Income tax Accounting Implications of the Tax Cuts and Jobs Act” (“SAB 118”), which provides guidance on accounting for the tax effects of the Tax Act. Under SAB 118, companies are able to record a reasonable estimate of the impacts of the Tax Act if one is able to be determined and report it as a provisional amount during the measurement period. The measurement period is not to extend beyond one year from the enactment date. Impacts of the Tax Act that a company is not able to make a reasonable estimate for should not be recorded until a reasonable estimate can be made during the measurement period. The Company continued to use our historical effective tax rate of 35 21 6,603,240 Major Customers 76 18 88 10 50 42 59 32 48 23 20 30 53 0 Stock-Based Employee and Non-Employee Compensation Stock-based employee compensation incurred for the years ended December 31, 2017, 2016 and 2015 was $ 3,685,079 2,267,053 2,566,716 Compensation Stock Compensation (Topic 718.) Recent Accounting Pronouncements In August 2016, the FASB issued Accounting Standards Update (ASU) 2016-15, Statement of Cash Flows (Topic 230). ASU 2016-15 seeks to reduce the existing diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. This update is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years, with early adoption permitted. The adoption of this guidance will not have a material impact on the Company’s statement of cash flows. In February 2016, FASB issued ASU No. 2016-02, Leases (Topic 841). For lessees, the amendments in this update require that for all leases not considered to be short term, a company recognize both a lease liability and right-of-use asset on its balance sheet, representing the obligation to make payments and the right to use or control the use of a specified asset for the lease term. The amendments in this update are effective for annual periods beginning after December 15, 2018. Upon adoption the Company will begin reflecting long-term future lease payments as both an asset and a liability on its balance sheet. The adoption of this guidance will not have a material impact on the Company’s financial statements. In May 2014, the FASB and the International Accounting Standards Board (IASB) issued a joint revenue recognition standard, ASU 2014-09. The new standard removes inconsistencies in existing standards, changes the way companies recognize revenue from contracts with customers, and increases disclosure requirements. The codification was amended through additional ASUs and, as amended, requires companies to recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. The guidance is effective for annual and interim periods beginning after December 15, 2017. The standard is required to be adopted using either the full retrospective approach, with all prior periods presented adjusted, or the modified retrospective approach, with a cumulative adjustment to retained earnings on the opening balance sheet. The Company will adopt the new standard utilizing the modified retrospective approach. Upon preliminary evaluation, the Company does not expect the adoption of this ASU to have a material impact on its financial statements. In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business.

EARNINGS (LOSS) PER SHARE INFOR

EARNINGS (LOSS) PER SHARE INFORMATION	12 Months Ended
EARNINGS (LOSS) PER SHARE INFORMATION	Dec. 31, 2017
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	NOTE 2 EARNINGS (LOSS) PER SHARE INFORMATION For the years ended December 31, 2017 2016 2015 Net Income (Loss) $ 1,753,869 $ (37,637,687) $ (9,052,771) Basic Weighted-Average Shares Outstanding 51,383,008 38,710,626 28,176,924 Effect of dilutive securities: Stock options 1,413,932 - - Restricted stock 9,772 - - Diluted Weighted-Average Shares Outstanding 52,806,712 38,710,626 28,176,924 Basic Earnings (Loss) per Share $ 0.03 $ (0.97) $ (0.32) Diluted Earnings (Loss) per Share $ 0.03 $ (0.97) $ (0.32) Stock options to purchase 603,500 3,358,250 2,881,150 As disclosed in Note 15 below, subsequent to December 31, 2017, the Company issued 6,164,000

ACQUISITIONS

ACQUISITIONS	12 Months Ended
ACQUISITIONS	Dec. 31, 2017
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	NOTE 3 ACQUISITIONS In June 2015, Ring completed the acquisition of oil and gas assets and properties in the Ford West Field and Ford Geraldine Unit in Reeves and Culberson Counties, Texas. The acquired properties consist of 19,983 19,679 98 79 75,000,000 286,563 742,332 129,896 The acquisition was recognized as a business combination whereby Ring recorded the assets acquired and the liabilities assumed at their fair values as of May 1, 2015, which is the date the Company obtained control of the properties and was the acquisition date for financial reporting purposes. The estimated fair value of the acquired properties approximated the consideration paid, which the Company concluded approximated the fair value that would be paid by a typical market participant. Assets acquired Proved oil and natural gas properties $ 78,361,634 Accounts receivable 400,629 Liabilities assumed Accounts payable (1,562,147) Asset retirement obligations (3,361,634) Total Identifiable Net Assets $ 73,838,482 For the year ended December 31, 2015 Oil and Gas Revenues $ 37,253,437 Net Income (Loss) $ (9,097,288) Basic Earnings (Loss) per Share $ (0.32) Diluted Earnings (Loss) per Share $ (0.32)

OIL AND GAS PRODUCING ACTIVITIE

OIL AND GAS PRODUCING ACTIVITIES	12 Months Ended
OIL AND GAS PRODUCING ACTIVITIES	Dec. 31, 2017
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Oil and Gas Exploration and Production Industries Disclosures [Text Block]	NOTE 4 OIL AND GAS PRODUCING ACTIVITIES Set forth below is certain information regarding the aggregate capitalized costs of oil and gas properties and costs incurred by the Company for its oil and gas property acquisitions, development and exploration activities: Capitalized Costs Relating to Oil and Natural Gas Producing Activities As of December 31, 2017 2016 Proved oil and natural gas properties $ 433,591,134 $ 250,133,965 Inventory for property development - 1,582,427 Fixed assets subject to depreciation 1,884,818 1,549,311 Total capitalized costs 435,475,952 253,265,703 Accumulated depletion, depreciation and amortization (61,864,932) (41,347,152) Net Capitalized Costs $ 373,611,020 $ 211,918,551 Net Costs Incurred in Oil and Gas Producing Activities For the years Ended December 31, 2017 2016 Acquisition of proved properties $ 28,682,298 $ 10,193,927 Development costs 125,977,758 26,862,680 Total Net Costs Incurred $ 154,660,056 $ 37,056,607

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	12 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS	Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	NOTE 5 DERIVATIVE FINANCIAL INSTRUMENTS The Company is exposed to fluctuations in crude oil and natural gas prices on its production. We can utilize derivative strategies that consist of either a single derivative instrument or a combination of instruments to manage the variability in cash flows associated with the forecasted sale of our future domestic oil and natural gas production. While the use of derivative instruments may limit or partially reduce the downside risk of adverse commodity price movements, their use also may limit future income from favorable commodity price movements. On September 25, 2017, the Company entered into new derivative contracts in the form of costless collars of WTI Crude Oil prices in order to protect the Company’s cash flow from price fluctuation and maintain its capital programs. “Costless collars” are the combination of two options, a put option (floor) and call option (ceiling) with the options structured so that the premium paid for the put option will be offset by the premium received from selling the call option. The trades are for 1,000 49.00 55.35 49.00 54.60 On October 27, 2017, the Company entered in additional costless collars of WTI Crude Oil. This trade is for the period January 1, 2018 through December 31, 2018 for 1,000 51.00 54.80 Derivative financial instruments are recorded at fair value and included as either assets or liabilities in the accompanying balance sheets. Any gains or losses resulting from changes in fair value of outstanding derivative financial instruments and from the settlement of derivative financial instruments are recognized in earnings and included as a component of other income in the accompanying statements of operations. The use of derivative transactions involves the risk that the counterparties, which generally are financial institutions, will be unable to meet the financial terms of such transactions. At December 31, 2017, 100% of our volumes subject to derivative instruments are with lenders under our credit facility.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
FAIR VALUE MEASUREMENTS	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value, Measurement Inputs, Disclosure [Text Block]	NOTE 6 FAIR VALUE MEASUREMENTS Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The authoritative guidance requires disclosure of the framework for measuring fair value and requires that fair value measurements be classified and disclosed in one of the following categories: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. We consider active markets as those in which transactions for the assets or liabilities occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2: Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability. This category includes those derivative instruments that we value using observable market data. Substantially all of these inputs are observable in the marketplace throughout the full term of the derivative instrument, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace. Level 3: Measured based on prices or valuation models that require inputs that are both significant to the fair value measurement and less observable from objective sources (i.e., supported by little or no market activity). Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy. We continue to evaluate our inputs to ensure the fair value level classification is appropriate. When transfers between levels occur, it is our policy to assume that the transfer occurred at the date of the event or change in circumstances that caused the transfer. The fair values of the Company’s derivatives are not actively quoted in the open market. The Company uses a market approach to estimate the fair values of its derivative instruments on a recurring basis, utilizing commodity futures pricing for the underlying commodities provided by a reputable third party, a Level 2 fair value measurement. Fair Value Measurement Classification Quoted prices in Significant Other Significant Total As of December 31, 2017 Oil and gas derivative contracts $ - $ (3,968,286) $ - $ (3,968,286) Total $ - $ (3,968,286) $ - $ (3,968,286)

REVOLVING LINE OF CREDIT

REVOLVING LINE OF CREDIT	12 Months Ended
REVOLVING LINE OF CREDIT	Dec. 31, 2017
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	NOTE 7 REVOLVING LINE OF CREDIT On July 1, 2014, the Company entered into a Credit Agreement with SunTrust Bank, as lender, issuing bank and administrative agent for several banks and other financial institutions and lenders (“Administrative Agent”), which was amended on May 18, 2016, June 26, 2015 and July 24, 2014 (as amended, the “Credit Facility”). The Credit Facility provides for a senior secured revolving credit facility with a maximum borrowing amount of $ 500 June 26, 2020 In May 2016, the borrowing base (the “Borrowing Base”) was reduced from the initial $ 100 60 The Borrowing Base will be redetermined semi-annually on each May 1 and November 1, beginning November 1, 2015. The Credit Facility allows for Eurodollar Loans and Base Rate Loans (each as defined in the Credit Facility). The interest rate on each Eurodollar Loan will be the adjusted LIBOR for the applicable interest period plus a margin between 1.75 2.75 The annual interest rate on each Base Rate Loan is (a) the greatest of (i) the Administrative Agent’s prime lending rate, (ii) the federal funds rate plus 0.5% per annum or the (iii) adjusted LIBOR determined on a daily basis for an interest period of one-month, plus 1.00% per annum, plus (b) a margin between 2.75% and 3.75% (depending on the then-current level of borrowing base usage). The Credit Facility contains certain covenants, which, among other things, require the maintenance of (i) a total leverage ratio of not more than 4.0 to 1.0 1.0 to 1.0

ASSET RETIREMENT OBLIGATION

ASSET RETIREMENT OBLIGATION	12 Months Ended
ASSET RETIREMENT OBLIGATION	Dec. 31, 2017
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligation Disclosure [Text Block]	NOTE 8 ASSET RETIREMENT OBLIGATION Balance, December 31, 2014 $ 3,896,489 Liabilities acquired 3,361,634 Liabilities incurred 171,635 Liabilities settled (446,192) Accretion expense 418,384 Balance, December 31, 2015 $ 7,401,950 Liabilities incurred 308,509 Liabilities settled (240,606) Accretion expense 487,182 Balance, December 31, 2016 $ 7,957,035 Liabilities incurred 1,297,289 Liabilities settled (766,595) Accretion expense 567,968 Balance, December 31, 2017 $ 9,055,697

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
STOCKHOLDERS' EQUITY	Dec. 31, 2017
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	NOTE 9 STOCKHOLDERS’ EQUITY The Company is authorized to issue 150,000,000 0.001 50,000,000 Common Stock Issued in Public Offering 4,500,000 11.50 51,750,000 100,000 11.50 1,150,000 50,039,853 2,860,147 In April 2016, the Company closed on an underwritten public offering of 11,500,000 1,500,000 5.60 64,400,000 61,063,497 3,336,503 In December 2016, the Company closed on an underwritten public offering of 7,195,387 670,387 11.50 82,746,951 78,485,787 4,261,164 In July 2017, the Company closed on an underwritten public offering of 4,977,658 477,658 12.50 62,220,725 59,026,956 3,193,769 Common Stock Issued for option exercises 56,875 26,334 133,308 Stock price on Aggregate value Options Exercise Shares Shares Cash paid at date of exercise of shares retained exercised price ($) issued retained exercise ($) ($) ($) 2015 10,000 $ 2.00 8,115 1,885 $ - $ 10.61 $ 20,000 5,000 4.50 5,000 - 22,500 10.00 - 20,000 2.00 20,000 - 40,000 10.14 - 10,000 4.50 6,127 3,873 - 11.62 45,000 5,000 5.50 2,633 2,367 - 11.62 27,500 15,000 4.50 15,000 - 67,500 11.06 - 600 8.00 600 - 4,800 8.07 - 2015 Totals 65,600 57,475 8,125 $ 134,800 $ 92,500 2015 Weighted Averages $ 3.46 $ 10.73 Stock price on Aggregate value Options Exercise Shares Shares Cash paid at date of exercise of shares retained exercised price ($) issued retained exercise ($) ($) ($) 2016 5,000 $ 4.50 5,000 - $ 22,500 $ 4.72 $ - 20,000 4.50 20,000 - 90,000 7.29 - 150 2.00 119 31 - 9.72 300 350 2.00 276 74 - 9.46 700 400 2.00 339 61 - 13.05 800 2016 Totals 25,900 25,734 166 $ 112,500 $ 1,800 2016 Weighted Averages $ 4.41 $ 6.93 Stock price on Aggregate value Options Exercise Shares Shares Cash paid at date of exercise of shares retained exercised price ($) issued retained exercise ($) ($) ($) 2017 4,100 $ 2.00 3,491 609 $ - $ 13.47 $ 8,200 60,000 2.00 50,156 9,844 - 12.19 120,000 200 8.00 116 84 - 13.75 1,600 1,500 10.89 1,188 312 - 13.75 16,335 600 5.25 229 371 - 13.75 3,150 20,000 5.50 11,953 8,047 - 13.67 110,000 2,000 8.00 830 1,170 - 13.67 16,000 2,000 5.25 1,232 768 - 13.67 10,500 15,000 2.00 12,875 2,125 - 14.12 30,000 60,000 2.00 51,238 8,762 - 13.70 120,000 2017 Totals 165,400 133,308 32,092 $ - $ 435,785 2017 Weighted Averages $ 2.63 $ 13.18

EMPLOYEE STOCK OPTIONS AND REST

EMPLOYEE STOCK OPTIONS AND RESTRICTED STOCK AWARD PLAN	12 Months Ended
EMPLOYEE STOCK OPTIONS AND RESTRICTED STOCK AWARD PLAN	Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	NOTE 10 EMPLOYEE STOCK OPTIONS AND RESTRICTED STOCK AWARD PLAN In 2011, the Company’s Board of Directors approved and adopted a long term incentive plan, which was subsequently approved and amended by the shareholders. There were 1,040,200 Grant date # of options Exercise price April 1, 2015 3,750 $ 10.89 December 9, 2015 291,000 8.25 January 13, 2016 (1) 241,000 $ 5.25 May 3, 2016 15,000 6.42 December 13, 2016 582,500 11.75 April 20, 2017 7,500 $ 11.70 1,140,750 (1) On December 9, 2015, Ring issued option awards to its named executive officers and directors. On January 13, 2016, upon the recommendation of the Compensation Committee, Ring rescinded the option awards granted to its employees and directors (other than Messrs. McCabe and Rochford, who are the members of the Compensation Committee) as the result of a significant decline in the stock price and re-issued the option awards as of that date to meet the goals and objectives of the Company’s equity based compensation program. The amounts shown as Option Awards include the additional fair value of the new options over the original grant. All granted options vest at the rate of 20 2017 2016 2015 Weighted- Weighted- Weighted- Average Average Average Options Exercise Price Options Exercise Price Options Exercise Price Outstanding at beginning of the year 3,362,350 $ 5.90 2,881,750 $ 5.07 2,684,500 $ 4.67 Issued 7,500 11.70 838,500 9.79 294,750 8.28 Forfeited or rescinded (11,450) 10.12 (331,400) 8.62 (32,500) 4.47 Exercised (165,400) 2.63 (26,500) 4.41 (65,000) 3.46 Outstanding at end of year 3,193,000 $ 6.07 3,362,350 $ 5.90 2,881,750 $ 5.07 Exercisable at end of year 2,091,900 $ 4.85 1,722,850 $ 4.01 1,214,000 $ 3.85 Weighted average fair value of options granted during the year $ 9.14 $ 9.72 $ 6.55 The Company uses the Black-Scholes option pricing model to calculate the fair-value of each option grant. The expected volatility is based on the historical price volatility of the Company’s common stock. We elected to use the simplified method for estimating the expected term as allowed by generally accepted accounting principles for options granted during the years ended December 31, 2017, 2016 and 2015. Under the simplified method, the expected term is equal to the midpoint between the vesting period and the contractual term of the stock option. The risk-free interest rate represents the U.S. Treasury bill rate for the expected life of the related stock options. The dividend yield represents the Company’s anticipated cash dividend over the expected life of the stock options. Risk free interest rate Expected life (years) Dividend yield Volatility April 1, 2015 1.32 % 6.5 - 103 % December 9, 2015 1.64 % 6.5 - 100 % January 13, 2016 1.51 % 6.5 - 100 % May 3, 2016 1.25 % 6.5 - 99 % December 13, 2016 1.92 % 6.5 - 96 % April 20, 2017 1.78 % 6.5 - 94 % For the years ended December 31, 2017, 2016 and 2015, the Company incurred stock based compensation expense related to stock options of $ 3,618,309 2,267,053 2,566,716 3,741,997 2.5 25,126,363 19,884,600 13.90 Options exercised of 165,400 26,500 65,000 1,744,047 65,089 476,642 The following table summarizes information related to the Company’s stock options outstanding at December 31, 2017: Options Outstanding Exercise price Number Weighted- Number 2.00 555,000 4.17 555,000 4.50 1,340,000 5.24 1,080,000 5.50 5,000 5.45 - 7.50 29,000 5.73 23,000 10.00 90,000 6.21 72,000 14.54 20,000 6.99 12,000 8.00 282,500 7.17 168,700 8.25 50,000 8.19 20,000 5.25 223,000 8.28 45,000 6.42 15,000 8.59 3,000 11.75 576,000 9.20 115,200 11.70 7,500 9.30 - 3,193,000 6.27 2,093,900 Any excess tax benefits from the exercise of stock options will not be recognized in paid-in capital until the Company is in a current tax paying position. Presently, the company has a net loss and therefore not yet subject to income taxes. Accordingly, no excess tax benefits have been recognized for the years ended December 31, 2017, 2016 or 2015. Grant date # of shares of December 19, 2017 330,900 All restricted stock grants vest at the rate of 20 2017 Restricted stock Weighted- Outstanding at beginning of the year - $ - Granted 330,900 13.44 Forfeited or rescinded - - Vested - - Outstanding at end of year 330,900 $ 13.44 No restricted stock was granted prior to 2017. No restricted stock vested during 2017. For the year ended December 31, 2017, the Company incurred stock based compensation expense related to restricted stock grants of $ 66,770 4,380,526 2.0

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Dec. 31, 2017
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	NOTE 11 RELATED PARTY TRANSACTIONS The Company is leasing office space from Arenaco, LLC, a company that is owned by two of stockholders’ of the Company, Mr. Rochford, Chairman of the Board of the Company, and Mr. McCabe, a Director of the Company. During the years ended December 31, 2017, 2016 and 2015, the Company paid $ 60,000 60,000 60,000

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	12 Months Ended
COMMITMENTS AND CONTINGENT LIABILITIES	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	NOTE 12 COMMITMENTS AND CONTINGENT LIABILITIES Standby Letters of Credit 280,000 Operating leases 15,000 3,700 2,000 543,770 527,582 526,658 Year Lease Obligation 2018 $ 531,550 2019 $ 539,675 2020 37,725 $ 1,108,950

INCOME TAXES

INCOME TAXES	12 Months Ended
INCOME TAXES	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	NOTE 13 INCOME TAXES Provision for Income Taxes 2017 2016 2015 Deferred taxes $ 10,416,171 $ (19,987,585) $ (5,003,713) Provision for (Benefit from) Income Taxes $ 10,416,171 $ (19,987,585) $ (5,003,713) Rate Reconciliation 2017 2016 2015 Tax at federal statutory rate (34%) $ 4,194,556 $ (19,592,592) $ (4,779,205) Non-deductible expenses 6,158 2,558 6,599 Excess tax benefit from stock option exercises (453,217) 15,055 (89,597) Adjust prior estimates to tax return (58,766) 167,526 - States taxes, net of Federal benefit 124,200 (580,132) (141,510) Effect of departure from State of Kansas (350,059) - - Adjustment for change in future effective tax rate (1) 6,953,299 - - Provision for (Benefit from) Income Taxes $ 10,416,171 $ (19,987,585) $ (5,003,713) (1) The enactment of the Tax Cuts and Jobs Act provided for a decrease in the corporate tax rate to 21 35 6.95 The net deferred taxes consisted of the following at December 31, 2017 and 2016: Deferred Taxes: 2017 2016 Deferred tax liabilities Property and equipment $ 27,563,290 $ 10,092,289 Deferred tax assets Stock-based compensation 6,667,643 3,814,909 Operating loss and IDC carryforwards 32,127,847 26,329,288 Deferred tax assets 38,795,490 30,144,197 Net deferred income tax asset $ (11,232,200) $ (20,051,908) As of December 31, 2017, the Company had net operating loss carry forwards for federal income tax reporting purposes of approximately $ 106.9 2027 2037

QUARTERLY FINANCIAL DATE (UNAUD

QUARTERLY FINANCIAL DATE (UNAUDITED)	12 Months Ended
QUARTERLY FINANCIAL DATE (UNAUDITED)	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information [Text Block]	NOTE 14 QUARTERLY FINANCIAL DATE (UNAUDITED) 2015 Three Months Ended March 31 June 30 September 30 December 31 Revenues $ 6,045,701 $ 8,976,790 $ 8,629,007 $ 7,362,394 Operating Income (Loss) (1,549,389) 1,019,686 (1,473,514) (11,311,117) Net Income (Loss) (975,624) 534,167 (1,138,268) (7,473,046) Basic Net Income (Loss) Per Share $ (0.04) $ 0.02 $ (0.04) $ (0.25) Diluted Net Income (Loss) Per Share (0.04) 0.02 (0.04) (0.25) 2016 Three Months Ended March 31 June 30 September 30 December 31 Revenues $ 6,092,388 $ 7,104,609 $ 7,822,543 $ 9,830,709 Operating Income (Loss) (23,833,480) (25,516,087) (9,121,201) 1,438,007 Net Income (Loss) (15,275,044) (15,941,500) (5,944,137) (477,006) Basic Net Income (Loss) Per Share $ (0.50) $ (0.41) $ (0.14) $ (0.01) Diluted Net Income (Loss) Per Share (0.50) (0.41) (0.14) (0.01) 2017 Three Months Ended March 31 June 30 September 30 December 31 Revenues $ 12,243,793 $ 14,503,309 $ 16,643,930 $ 23,308,668 Operating Income 2,502,852 2,621,612 4,292,081 6,550,596 Net Income (Loss) 1,279,281 1,910,763 3,073,760 (4,509,935) Basic Net Income (Loss) Per Share $ 0.03 $ 0.04 $ 0.06 $ (0.08) Diluted Net Income (Loss) Per Share 0.03 0.04 0.06 (0.08)

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2017
Subsequent Events [Abstract]
Subsequent Events [Text Block]	NOTE 15 SUBSEQUENT EVENTS Subsequent to December 31, 2017, the Company drew $ 10 Subsequent to December 31, 2017, the Company closed on an underwritten public offering of 6,164,000 804,000 14.00 86,296,000 81.8 4.5

ORGANIZATION AND SUMMARY OF S22

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization And Nature Of Operations [Policy Text Block]	Organization and Nature of Operations
Use of Estimates, Policy [Policy Text Block]	Use of Estimates
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Values of Financial Instruments
Fair Value Measurement, Policy [Policy Text Block]	Fair Value of Non-financial Assets and Liabilities
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of Credit Risk and Accounts Receivable 70,836,381 14,756,581 Substantially all of the Company’s accounts receivable is from purchasers of oil and gas. Oil and gas sales are generally unsecured. The Company has not had any significant credit losses in the past and believes its accounts receivable are fully collectable. Accordingly, no allowance for doubtful accounts has been provided at December 31, 2017 and 2016. The Company also has a joint interest billing receivable. Joint interest billing receivables are collateralized by the pro rata revenue attributable to the joint interest holders and further by the interest itself.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash
Oil and Gas Properties Policy [Policy Text Block]	The Company records a liability in the period in which an asset retirement obligation (“ARO”) is incurred, in an amount equal to the discounted estimated fair value of the obligation that is capitalized. Thereafter this liability is accreted up to the final retirement cost. An ARO is a future expenditure related to the disposal or other retirement of certain assets. The Company’s ARO relates to future plugging and abandonment expenses of its oil and gas properties and related facilities disposal. All capitalized costs of oil and gas properties, including the estimated future costs to develop proved reserves and estimated future costs to plug and abandon wells and costs of site restoration, less the estimated salvage value of equipment associated with the oil and gas properties, are amortized on the unit-of-production method using estimates of proved reserves as determined by independent engineers. If the results of an assessment indicate that the properties are impaired, the amount of the impairment is offset to the capitalized costs to be amortized. For the Years Ended December 31, 2017 2016 2015 Depletion $ 20,197,690 $ 11,179,858 $ 14,889,487 Depletion rate, per barrel-of-oil-equivalent (BOE) $ 13.92 $ 12.73 $ 20.03 In addition, capitalized costs less accumulated amortization and related deferred income taxes shall not exceed an amount (the full cost ceiling) equal to the sum of: 1) the present value of estimated future net revenues discounted ten percent computed in compliance with SEC guidelines; 2) plus the cost of properties not being amortized; 3) plus the lower of cost or estimated fair value of unproven properties included in the costs being amortized; 4) less income tax effects related to differences between the book and tax basis of the properties. For the years ended December 31, 2016 and 2015, the Company took write downs on oil and gas properties as a result of the ceiling test in the amount of $ 56,513,016 9,312,203
Property, Plant and Equipment, Policy [Policy Text Block]	Land, Buildings, Equipment and Leasehold Improvements Leasehold improvements 3-10 years Office equipment and software 3-7 years Machinery and equipment 5-10 years Depreciation expense was $ 320,090 303,456 286,304
Revenue Recognition, Policy [Policy Text Block]	Revenue recognition
Income Tax, Policy [Policy Text Block]	On December 22, 2017, the President of the United States signed into law the Tax Cuts and Jobs Act of 2017 (the “Tax Act”). The SEC subsequently issued a Staff Accounting Bulletin No. 118, “Income tax Accounting Implications of the Tax Cuts and Jobs Act” (“SAB 118”), which provides guidance on accounting for the tax effects of the Tax Act. Under SAB 118, companies are able to record a reasonable estimate of the impacts of the Tax Act if one is able to be determined and report it as a provisional amount during the measurement period. The measurement period is not to extend beyond one year from the enactment date. Impacts of the Tax Act that a company is not able to make a reasonable estimate for should not be recorded until a reasonable estimate can be made during the measurement period. The Company continued to use our historical effective tax rate of 35 21 6,603,240
Accounting for Uncertainty in Income Taxes [Policy Text Block]	Accounting for Uncertainty in Income Taxes
Earnings Per Share, Policy [Policy Text Block]	Earnings (Loss) Per Share
Major Customers, Policy [Policy Text Block]	Major Customers 76 18 88 10 50 42 59 32 48 23 20 30 53 0
Stock-Based Employee And Non-Employee Compensation [Policy Text Block]	Stock-Based Employee and Non-Employee Compensation Stock-based employee compensation incurred for the years ended December 31, 2017, 2016 and 2015 was $ 3,685,079 2,267,053 2,566,716
Reclassification, Policy [Policy Text Block]	Reclassifications
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Pronouncements Compensation Stock Compensation (Topic 718.) Recent Accounting Pronouncements In August 2016, the FASB issued Accounting Standards Update (ASU) 2016-15, Statement of Cash Flows (Topic 230). ASU 2016-15 seeks to reduce the existing diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. This update is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years, with early adoption permitted. The adoption of this guidance will not have a material impact on the Company’s statement of cash flows. In February 2016, FASB issued ASU No. 2016-02, Leases (Topic 841). For lessees, the amendments in this update require that for all leases not considered to be short term, a company recognize both a lease liability and right-of-use asset on its balance sheet, representing the obligation to make payments and the right to use or control the use of a specified asset for the lease term. The amendments in this update are effective for annual periods beginning after December 15, 2018. Upon adoption the Company will begin reflecting long-term future lease payments as both an asset and a liability on its balance sheet. The adoption of this guidance will not have a material impact on the Company’s financial statements. In May 2014, the FASB and the International Accounting Standards Board (IASB) issued a joint revenue recognition standard, ASU 2014-09. The new standard removes inconsistencies in existing standards, changes the way companies recognize revenue from contracts with customers, and increases disclosure requirements. The codification was amended through additional ASUs and, as amended, requires companies to recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. The guidance is effective for annual and interim periods beginning after December 15, 2017. The standard is required to be adopted using either the full retrospective approach, with all prior periods presented adjusted, or the modified retrospective approach, with a cumulative adjustment to retained earnings on the opening balance sheet. The Company will adopt the new standard utilizing the modified retrospective approach. Upon preliminary evaluation, the Company does not expect the adoption of this ASU to have a material impact on its financial statements. In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business.

ORGANIZATION AND SUMMARY OF S23

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Schedule Of Depletion and Depletion Rate Per Barrel Of Oil Equivalents [Table Text Block]	The following table shows total depletion and depletion per barrel-of-oil-equivalent rate, for the years ended December 31, 2017, 2016 and 2015. For the Years Ended December 31, 2017 2016 2015 Depletion $ 20,197,690 $ 11,179,858 $ 14,889,487 Depletion rate, per barrel-of-oil-equivalent (BOE) $ 13.92 $ 12.73 $ 20.03
Schedule Of Property Plant And Equipment Estimated Useful Lives [Table Text Block]	Depreciation of buildings and equipment is calculated using the straight-line method based upon the following estimated useful lives: Leasehold improvements 3-10 years Office equipment and software 3-7 years Machinery and equipment 5-10 years

EARNINGS (LOSS) PER SHARE INF24

EARNINGS (LOSS) PER SHARE INFORMATION (Tables)	12 Months Ended
EARNINGS (LOSS) PER SHARE INFORMATION (Tables)	Dec. 31, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	For the years ended December 31, 2017 2016 2015 Net Income (Loss) $ 1,753,869 $ (37,637,687) $ (9,052,771) Basic Weighted-Average Shares Outstanding 51,383,008 38,710,626 28,176,924 Effect of dilutive securities: Stock options 1,413,932 - - Restricted stock 9,772 - - Diluted Weighted-Average Shares Outstanding 52,806,712 38,710,626 28,176,924 Basic Earnings (Loss) per Share $ 0.03 $ (0.97) $ (0.32) Diluted Earnings (Loss) per Share $ 0.03 $ (0.97) $ (0.32)

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	12 Months Ended
ACQUISITIONS (Tables)	Dec. 31, 2017
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Assets acquired Proved oil and natural gas properties $ 78,361,634 Accounts receivable 400,629 Liabilities assumed Accounts payable (1,562,147) Asset retirement obligations (3,361,634) Total Identifiable Net Assets $ 73,838,482
Business Acquisition, Pro Forma Information [Table Text Block]	The following unaudited pro forma information is presented to reflect the operations of the Company as if the Ford West Field and Ford Geraldine Unit acquisition had been completed on January 1, 2015. For the year ended December 31, 2015 Oil and Gas Revenues $ 37,253,437 Net Income (Loss) $ (9,097,288) Basic Earnings (Loss) per Share $ (0.32) Diluted Earnings (Loss) per Share $ (0.32)

OIL AND GAS PRODUCING ACTIVIT26

OIL AND GAS PRODUCING ACTIVITIES (Tables)	12 Months Ended
OIL AND GAS PRODUCING ACTIVITIES (Tables)	Dec. 31, 2017
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Capitalized Costs Relating to Oil and Gas Producing Activities Disclosure [Table Text Block]	Capitalized Costs Relating to Oil and Natural Gas Producing Activities As of December 31, 2017 2016 Proved oil and natural gas properties $ 433,591,134 $ 250,133,965 Inventory for property development - 1,582,427 Fixed assets subject to depreciation 1,884,818 1,549,311 Total capitalized costs 435,475,952 253,265,703 Accumulated depletion, depreciation and amortization (61,864,932) (41,347,152) Net Capitalized Costs $ 373,611,020 $ 211,918,551
Cost Incurred in Oil and Gas Property Acquisition, Exploration, and Development Activities Disclosure [Table Text Block]	Net Costs Incurred in Oil and Gas Producing Activities For the years Ended December 31, 2017 2016 Acquisition of proved properties $ 28,682,298 $ 10,193,927 Development costs 125,977,758 26,862,680 Total Net Costs Incurred $ 154,660,056 $ 37,056,607

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
FAIR VALUE MEASUREMENTS (Tables)	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	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 Significant Other Significant Total As of December 31, 2017 Oil and gas derivative contracts $ - $ (3,968,286) $ - $ (3,968,286) Total $ - $ (3,968,286) $ - $ (3,968,286)

ASSET RETIREMENT OBLIGATION (Ta

ASSET RETIREMENT OBLIGATION (Tables)	12 Months Ended
ASSET RETIREMENT OBLIGATION (Tables)	Dec. 31, 2017
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Asset Retirement Obligations [Table Text Block]	A reconciliation of the asset retirement obligation for the years ended December 31, 2015, 2016 and 2017 is as follows: Balance, December 31, 2014 $ 3,896,489 Liabilities acquired 3,361,634 Liabilities incurred 171,635 Liabilities settled (446,192) Accretion expense 418,384 Balance, December 31, 2015 $ 7,401,950 Liabilities incurred 308,509 Liabilities settled (240,606) Accretion expense 487,182 Balance, December 31, 2016 $ 7,957,035 Liabilities incurred 1,297,289 Liabilities settled (766,595) Accretion expense 567,968 Balance, December 31, 2017 $ 9,055,697

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	12 Months Ended
STOCKHOLDERS' EQUITY (Tables)	Dec. 31, 2017
Stockholders' Equity Note [Abstract]
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]	Stock price on Aggregate value Options Exercise Shares Shares Cash paid at date of exercise of shares retained exercised price ($) issued retained exercise ($) ($) ($) 2015 10,000 $ 2.00 8,115 1,885 $ - $ 10.61 $ 20,000 5,000 4.50 5,000 - 22,500 10.00 - 20,000 2.00 20,000 - 40,000 10.14 - 10,000 4.50 6,127 3,873 - 11.62 45,000 5,000 5.50 2,633 2,367 - 11.62 27,500 15,000 4.50 15,000 - 67,500 11.06 - 600 8.00 600 - 4,800 8.07 - 2015 Totals 65,600 57,475 8,125 $ 134,800 $ 92,500 2015 Weighted Averages $ 3.46 $ 10.73 Stock price on Aggregate value Options Exercise Shares Shares Cash paid at date of exercise of shares retained exercised price ($) issued retained exercise ($) ($) ($) 2016 5,000 $ 4.50 5,000 - $ 22,500 $ 4.72 $ - 20,000 4.50 20,000 - 90,000 7.29 - 150 2.00 119 31 - 9.72 300 350 2.00 276 74 - 9.46 700 400 2.00 339 61 - 13.05 800 2016 Totals 25,900 25,734 166 $ 112,500 $ 1,800 2016 Weighted Averages $ 4.41 $ 6.93 Stock price on Aggregate value Options Exercise Shares Shares Cash paid at date of exercise of shares retained exercised price ($) issued retained exercise ($) ($) ($) 2017 4,100 $ 2.00 3,491 609 $ - $ 13.47 $ 8,200 60,000 2.00 50,156 9,844 - 12.19 120,000 200 8.00 116 84 - 13.75 1,600 1,500 10.89 1,188 312 - 13.75 16,335 600 5.25 229 371 - 13.75 3,150 20,000 5.50 11,953 8,047 - 13.67 110,000 2,000 8.00 830 1,170 - 13.67 16,000 2,000 5.25 1,232 768 - 13.67 10,500 15,000 2.00 12,875 2,125 - 14.12 30,000 60,000 2.00 51,238 8,762 - 13.70 120,000 2017 Totals 165,400 133,308 32,092 $ - $ 435,785 2017 Weighted Averages $ 2.63 $ 13.18

EMPLOYEE STOCK OPTIONS AND RE30

EMPLOYEE STOCK OPTIONS AND RESTRICTED STOCK AWARD PLAN (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block]	Following is a table reflecting the issuances during 2015, 2016 and 2017 and their related exercise prices: Grant date # of options Exercise price April 1, 2015 3,750 $ 10.89 December 9, 2015 291,000 8.25 January 13, 2016 (1) 241,000 $ 5.25 May 3, 2016 15,000 6.42 December 13, 2016 582,500 11.75 April 20, 2017 7,500 $ 11.70 1,140,750 (1) On December 9, 2015, Ring issued option awards to its named executive officers and directors. On January 13, 2016, upon the recommendation of the Compensation Committee, Ring rescinded the option awards granted to its employees and directors (other than Messrs. McCabe and Rochford, who are the members of the Compensation Committee) as the result of a significant decline in the stock price and re-issued the option awards as of that date to meet the goals and objectives of the Company’s equity based compensation program. The amounts shown as Option Awards include the additional fair value of the new options over the original grant.
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	A summary of the status of the stock options as of December 31, 2017, 2016 and 2015 and changes during the years ended December 31, 2017, 2016 and 2015 is as follows: 2017 2016 2015 Weighted- Weighted- Weighted- Average Average Average Options Exercise Price Options Exercise Price Options Exercise Price Outstanding at beginning of the year 3,362,350 $ 5.90 2,881,750 $ 5.07 2,684,500 $ 4.67 Issued 7,500 11.70 838,500 9.79 294,750 8.28 Forfeited or rescinded (11,450) 10.12 (331,400) 8.62 (32,500) 4.47 Exercised (165,400) 2.63 (26,500) 4.41 (65,000) 3.46 Outstanding at end of year 3,193,000 $ 6.07 3,362,350 $ 5.90 2,881,750 $ 5.07 Exercisable at end of year 2,091,900 $ 4.85 1,722,850 $ 4.01 1,214,000 $ 3.85 Weighted average fair value of options granted during the year $ 9.14 $ 9.72 $ 6.55
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	The following are the Black-Scholes weighted-average assumptions used for options granted during the periods ended December 31, 2017, 2016 and 2015: Risk free interest rate Expected life (years) Dividend yield Volatility April 1, 2015 1.32 % 6.5 - 103 % December 9, 2015 1.64 % 6.5 - 100 % January 13, 2016 1.51 % 6.5 - 100 % May 3, 2016 1.25 % 6.5 - 99 % December 13, 2016 1.92 % 6.5 - 96 % April 20, 2017 1.78 % 6.5 - 94 %
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]	Options Outstanding Exercise price Number Weighted- Number 2.00 555,000 4.17 555,000 4.50 1,340,000 5.24 1,080,000 5.50 5,000 5.45 - 7.50 29,000 5.73 23,000 10.00 90,000 6.21 72,000 14.54 20,000 6.99 12,000 8.00 282,500 7.17 168,700 8.25 50,000 8.19 20,000 5.25 223,000 8.28 45,000 6.42 15,000 8.59 3,000 11.75 576,000 9.20 115,200 11.70 7,500 9.30 - 3,193,000 6.27 2,093,900
Nonvested Restricted Stock Shares Activity [Table Text Block]	Following is a table reflecting the restricted stock grants during 2017. No restricted stock was granted during 2015 or 2016. Grant date # of shares of December 19, 2017 330,900
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]	A summary of the status of restricted stock grants as of December 31, 2017 and changes during the years ended December 31, 2017 is as follows: 2017 Restricted stock Weighted- Outstanding at beginning of the year - $ - Granted 330,900 13.44 Forfeited or rescinded - - Vested - - Outstanding at end of year 330,900 $ 13.44

COMMITMENTS AND CONTINGENT LI31

COMMITMENTS AND CONTINGENT LIABILITIES (Tables)	12 Months Ended
COMMITMENTS AND CONTINGENT LIABILITIES (Tables)	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	The following table reflects the future minimum lease payments under the operating lease as of December 31, 2017. Year Lease Obligation 2018 $ 531,550 2019 $ 539,675 2020 37,725 $ 1,108,950

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
INCOME TAXES (Tables)	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	For the years ended December 31, 2017, 2016 and 2015, components of our provision for income taxes are as follows: Provision for Income Taxes 2017 2016 2015 Deferred taxes $ 10,416,171 $ (19,987,585) $ (5,003,713) Provision for (Benefit from) Income Taxes $ 10,416,171 $ (19,987,585) $ (5,003,713)
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Rate Reconciliation 2017 2016 2015 Tax at federal statutory rate (34%) $ 4,194,556 $ (19,592,592) $ (4,779,205) Non-deductible expenses 6,158 2,558 6,599 Excess tax benefit from stock option exercises (453,217) 15,055 (89,597) Adjust prior estimates to tax return (58,766) 167,526 - States taxes, net of Federal benefit 124,200 (580,132) (141,510) Effect of departure from State of Kansas (350,059) - - Adjustment for change in future effective tax rate (1) 6,953,299 - - Provision for (Benefit from) Income Taxes $ 10,416,171 $ (19,987,585) $ (5,003,713) (1) The enactment of the Tax Cuts and Jobs Act provided for a decrease in the corporate tax rate to 21 35 6.95
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	The net deferred taxes consisted of the following at December 31, 2017 and 2016: Deferred Taxes: 2017 2016 Deferred tax liabilities Property and equipment $ 27,563,290 $ 10,092,289 Deferred tax assets Stock-based compensation 6,667,643 3,814,909 Operating loss and IDC carryforwards 32,127,847 26,329,288 Deferred tax assets 38,795,490 30,144,197 Net deferred income tax liability (asset) $ (11,232,200) $ (20,051,908)

QUARTERLY FINANCIAL DATE (UNA33

QUARTERLY FINANCIAL DATE (UNAUDITED) (Tables)	12 Months Ended
QUARTERLY FINANCIAL DATE (UNAUDITED) (Tables)	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information [Table Text Block]	2015 Three Months Ended March 31 June 30 September 30 December 31 Revenues $ 6,045,701 $ 8,976,790 $ 8,629,007 $ 7,362,394 Operating Income (Loss) (1,549,389) 1,019,686 (1,473,514) (11,311,117) Net Income (Loss) (975,624) 534,167 (1,138,268) (7,473,046) Basic Net Income (Loss) Per Share $ (0.04) $ 0.02 $ (0.04) $ (0.25) Diluted Net Income (Loss) Per Share (0.04) 0.02 (0.04) (0.25) 2016 Three Months Ended March 31 June 30 September 30 December 31 Revenues $ 6,092,388 $ 7,104,609 $ 7,822,543 $ 9,830,709 Operating Income (Loss) (23,833,480) (25,516,087) (9,121,201) 1,438,007 Net Income (Loss) (15,275,044) (15,941,500) (5,944,137) (477,006) Basic Net Income (Loss) Per Share $ (0.50) $ (0.41) $ (0.14) $ (0.01) Diluted Net Income (Loss) Per Share (0.50) (0.41) (0.14) (0.01) 2017 Three Months Ended March 31 June 30 September 30 December 31 Revenues $ 12,243,793 $ 14,503,309 $ 16,643,930 $ 23,308,668 Operating Income 2,502,852 2,621,612 4,292,081 6,550,596 Net Income (Loss) 1,279,281 1,910,763 3,073,760 (4,509,935) Basic Net Income (Loss) Per Share $ 0.03 $ 0.04 $ 0.06 $ (0.08) Diluted Net Income (Loss) Per Share 0.03 0.04 0.06 (0.08)

ORGANIZATION AND SUMMARY OF S34

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
	Dec. 31, 2017USD ($)$ / BarrelofOilEquivalent-Boe	Dec. 31, 2016USD ($)$ / BarrelofOilEquivalent-Boe	Dec. 31, 2015USD ($)$ / BarrelofOilEquivalent-Boe
Organization And Summary Of Significant Accounting Policies [Line Items]
Depletion \| $	$ 20,197,690	$ 11,179,858	$ 14,889,487
Depletion rate, per barrel-of-oil-equivalent (BOE) \| $ / BarrelofOilEquivalent-Boe	13.92	12.73	20.03

ORGANIZATION AND SUMMARY OF S35

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1)	12 Months Ended
	Dec. 31, 2017
Leasehold improvements [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Leasehold improvements [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Office Equipment And Software [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Office Equipment And Software [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	7 years
Machinery and Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Machinery and Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years

ORGANIZATION AND SUMMARY OF S36

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Organization And Summary Of Significant Accounting Policies [Line Items]
Fair Value, Concentration of Risk, Cash and Cash Equivalents		$ 14,756,581	$ 70,836,381
Depreciation		320,090	303,456	$ 286,304
Share-based Compensation		3,685,079	2,267,053	2,566,716
Impairment of Oil and Gas Properties		$ 56,513,016	9,312,203
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		35.00%
Adjustment to Deferred Tax Asset for Change in Effective Tax Rate		$ 6,603,240
Cumulative Effect on Retained Earnings, Net of Tax		1,596,463
Excess Tax Benefit from Share-based Compensation, Operating Activities		$ 49,896	$ 0	$ 0
Scenario, Plan [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%
Sales Revenue, Net [Member] \| Customer One [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Concentration Risk, Percentage		76.00%	50.00%	48.00%
Sales Revenue, Net [Member] \| Customer Two [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Concentration Risk, Percentage		18.00%	42.00%	23.00%
Sales Revenue, Net [Member] \| Customer Three [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Concentration Risk, Percentage				20.00%
Accounts Receivable [Member] \| Customer One [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Concentration Risk, Percentage		88.00%	59.00%	30.00%
Accounts Receivable [Member] \| Customer Two [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Concentration Risk, Percentage		10.00%	32.00%	53.00%
Accounts Receivable [Member] \| Customer Three [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Concentration Risk, Percentage				0.00%

EARNINGS (LOSS) PER SHARE INF37

EARNINGS (LOSS) PER SHARE INFORMATION (Details) - USD ($)	3 Months Ended												12 Months Ended
EARNINGS (LOSS) PER SHARE INFORMATION (Details) - USD ($)	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net Income (Loss)	$ (4,509,935)	$ 3,073,760	$ 1,910,763	$ 1,279,281	$ (477,006)	$ (5,944,137)	$ (15,941,500)	$ (15,275,044)	$ (7,473,046)	$ (1,138,268)	$ 534,167	$ (975,624)	$ 1,753,869	$ (37,637,687)	$ (9,052,771)
Basic Weighted-Average Shares Outstanding													51,383,008	38,710,626	28,176,924
Effect of dilutive securities:
Diluted Weighted-Average Shares Outstanding													52,806,712	38,710,626	28,176,924
Basic Earnings (Loss) per Share	$ (0.08)	$ 0.06	$ 0.04	$ 0.03	$ (0.01)	$ (0.14)	$ (0.41)	$ (0.5)	$ (0.25)	$ (0.04)	$ 0.02	$ (0.04)	$ 0.03	$ (0.97)	$ (0.32)
Diluted Earnings (Loss) per Share	$ (0.08)	$ 0.06	$ 0.04	$ 0.03	$ (0.01)	$ (0.14)	$ (0.41)	$ (0.5)	$ (0.25)	$ (0.04)	$ 0.02	$ (0.04)	$ 0.03	$ (0.97)	$ (0.32)
Employee Stock Option [Member]
Effect of dilutive securities:
Weighted Average Number Diluted Shares Outstanding Adjustment													1,413,932	0	0
Restricted Stock [Member]
Effect of dilutive securities:
Weighted Average Number Diluted Shares Outstanding Adjustment													9,772	0	0

EARNINGS (LOSS) PER SHARE INF38

EARNINGS (LOSS) PER SHARE INFORMATION (Details Textual) - shares	Mar. 15, 2018	Mar. 14, 2018	Jul. 31, 2017	Dec. 31, 2016	Apr. 30, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Underwritten Public Offering [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock Issued During Period, Shares, New Issues			4,977,658	7,195,387	11,500,000
Underwritten Public Offering [Member] \| Subsequent Event [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock Issued During Period, Shares, New Issues	6,164,000	6,164,000
Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount						603,500	3,358,250	2,881,150
Stock Issued During Period, Shares, New Issues						4,977,658	18,695,387	4,600,000

ACQUISITIONS (Details)

ACQUISITIONS (Details)	Dec. 31, 2017USD ($)
Assets acquired
Proved oil and natural gas properties	$ 78,361,634
Accounts receivable	400,629
Liabilities assumed
Accounts payable	(1,562,147)
Asset retirement obligations	(3,361,634)
Total Identifiable Net Assets	$ 73,838,482

ACQUISITIONS (Details 1)

ACQUISITIONS (Details 1)	12 Months Ended
ACQUISITIONS (Details 1)	Dec. 31, 2015USD ($)$ / shares
Business Acquisition [Line Items]
Oil and Gas Revenues \| $	$ 37,253,437
Net Income (Loss) \| $	$ (9,097,288)
Basic Earnings (Loss) per Share \| $ / shares	$ (0.32)
Diluted Earnings (Loss) per Share \| $ / shares	$ (0.32)

ACQUISITIONS (Details Textual)

ACQUISITIONS (Details Textual)	1 Months Ended	12 Months Ended
ACQUISITIONS (Details Textual)	Jun. 30, 2015USD ($)a	Dec. 31, 2015USD ($)
Business Acquisition [Line Items]
Gas and Oil Area, Developed, Net \| a	19,679
Gas and Oil Area, Developed, Gross \| a	19,983
Payments to Acquire Businesses, Net of Cash Acquired, Total	$ 75,000,000
Noncash or Part Noncash Acquisition, Accounts Receivable Acquired	286,563
Noncash or Part Noncash Acquisition, Payables Assumed	$ 742,332
Business Combination, Acquisition Related Costs		$ 129,896
Average Working Interest [Member]
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	98.00%
Average Net Revenue Interest [Member]
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	79.00%

OIL AND GAS PRODUCING ACTIVIT42

OIL AND GAS PRODUCING ACTIVITIES (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Capitalized Costs Relating to Oil and Gas Producing Activities, by Geographic Area [Line Items]
Proved oil and natural gas properties	$ 433,591,134	$ 250,133,965
Inventory for property development	0	1,582,427
Fixed assets subject to depreciation	1,884,818	1,549,311
Total capitalized costs	435,475,952	253,265,703
Accumulated depletion, depreciation and amortization	(61,864,932)	(41,347,152)
Net Capitalized Costs	$ 373,611,020	$ 211,918,551

OIL AND GAS PRODUCING ACTIVIT43

OIL AND GAS PRODUCING ACTIVITIES (Details 1) - USD ($)	12 Months Ended
OIL AND GAS PRODUCING ACTIVITIES (Details 1) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities [Line Items]
Acquisition of proved properties	$ 28,682,298	$ 10,193,927
Development costs	125,977,758	26,862,680
Total Net Costs Incurred	$ 154,660,056	$ 37,056,607

DERIVATIVE FINANCIAL INSTRUME44

DERIVATIVE FINANCIAL INSTRUMENTS (Details Textual)	Dec. 31, 2018$ / Rate	Dec. 31, 2017$ / Rate	Oct. 31, 2017	Sep. 30, 2017
Number Of Barrels Per Day				1,000
Addititional Derivative Contracts [Member]
Number Of Barrels Per Day			1,000
Call Option [Member]
Derivative, Price Risk Option Strike Price		55.35
Call Option [Member] \| Scenario, Forecast [Member]
Derivative, Price Risk Option Strike Price	54.60
Call Option [Member] \| Addititional Derivative Contracts [Member] \| Scenario, Forecast [Member]
Derivative, Price Risk Option Strike Price	54.80
Put Option [Member]
Derivative, Price Risk Option Strike Price		49
Put Option [Member] \| Scenario, Forecast [Member]
Derivative, Price Risk Option Strike Price	49
Put Option [Member] \| Addititional Derivative Contracts [Member] \| Scenario, Forecast [Member]
Derivative, Price Risk Option Strike Price	51

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details)	Dec. 31, 2017USD ($)
Fair Value, Measurements, Recurring [Member]
Oil and gas derivative contracts	$ (3,968,286)
Total	(3,968,286)
Fair Value, Inputs, Level 1 [Member]
Oil and gas derivative contracts	0
Fair Value, Inputs, Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Total	0
Fair Value, Inputs, Level 2 [Member]
Oil and gas derivative contracts	(3,968,286)
Fair Value, Inputs, Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Total	(3,968,286)
Fair Value, Inputs, Level 3 [Member]
Oil and gas derivative contracts	0
Fair Value, Inputs, Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Total	$ 0

REVOLVING LINE OF CREDIT (Detai

REVOLVING LINE OF CREDIT (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	May 01, 2016
Line of Credit Facility [Line Items]
Line of Credit Facility, Interest Rate Description	The annual interest rate on each Base Rate Loan is (a) the greatest of (i) the Administrative Agents prime lending rate, (ii) the federal funds rate plus 0.5% per annum or the (iii) adjusted LIBOR determined on a daily basis for an interest period of one-month, plus 1.00% per annum, plus (b) a margin between 2.75% and 3.75% (depending on the then-current level of borrowing base usage).
Leverage Ratio, Total	4.0 to 1.0
Minimum Leverage Ratio Current	1.0 to 1.0
Debt Instrument, Redemption, Description	The Borrowing Base will be redetermined semi-annually on each May 1 and November 1, beginning November 1, 2015.
Minimum [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 60
Debt Instrument, Basis Spread on Variable Rate	1.75%
Maximum [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 100
Debt Instrument, Basis Spread on Variable Rate	2.75%
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 500
Line of Credit Facility, Expiration Date	Jun. 26, 2020

ASSET RETIREMENT OBLIGATION (De

ASSET RETIREMENT OBLIGATION (Details) - USD ($)	12 Months Ended
ASSET RETIREMENT OBLIGATION (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Asset Retirement Obligation [Line Items]
Balance	$ 7,957,035	$ 7,401,950	$ 3,896,489
Liabilities acquired			3,361,634
Liabilities incurred	1,297,289	308,509	171,635
Liabilities settled	(766,595)	(240,606)	(446,192)
Accretion expense	567,968	487,182	418,384
Balance	$ 9,055,697	$ 7,957,035	$ 7,401,950

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($)	12 Months Ended
STOCKHOLDERS' EQUITY (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Options exercised	165,400	25,900	65,600
Exercise price	$ 2.63	$ 4.41	$ 3.46
Shares issued	133,308	25,734	57,475
Shares retained	32,092	166	8,125
Cash paid at exercise	$ 0	$ 112,500	$ 134,800
Stock price on date of exercise	$ 13.18	$ 6.93	$ 10.73
Aggregate value of shares retained	$ 435,785	$ 1,800	$ 92,500
Exercised Option 1 [Member]
Options exercised	4,100	5,000	10,000
Exercise price	$ 2	$ 4.50	$ 2
Shares issued	3,491	5,000	8,115
Shares retained	609	0	1,885
Cash paid at exercise	$ 0	$ 22,500	$ 0
Stock price on date of exercise	$ 13.47	$ 4.72	$ 10.61
Aggregate value of shares retained	$ 8,200	$ 0	$ 20,000
Exercised Option 2 [Member]
Options exercised	60,000	20,000	5,000
Exercise price	$ 2	$ 4.50	$ 4.50
Shares issued	50,156	20,000	5,000
Shares retained	9,844	0	0
Cash paid at exercise	$ 0	$ 90,000	$ 22,500
Stock price on date of exercise	$ 12.19	$ 7.29	$ 10
Aggregate value of shares retained	$ 120,000	$ 0	$ 0
Exercised Option 3 [Member]
Options exercised	200	150	20,000
Exercise price	$ 8	$ 2	$ 2
Shares issued	116	119	20,000
Shares retained	84	31	0
Cash paid at exercise	$ 0	$ 0	$ 40,000
Stock price on date of exercise	$ 13.75	$ 9.72	$ 10.14
Aggregate value of shares retained	$ 1,600	$ 300	$ 0
Exercised Option 4 [Member]
Options exercised	1,500	350	10,000
Exercise price	$ 10.89	$ 2	$ 4.50
Shares issued	1,188	276	6,127
Shares retained	312	74	3,873
Cash paid at exercise	$ 0	$ 0	$ 0
Stock price on date of exercise	$ 13.75	$ 9.46	$ 11.62
Aggregate value of shares retained	$ 16,335	$ 700	$ 45,000
Exercised Option 5 [Member]
Options exercised	600	400	5,000
Exercise price	$ 5.25	$ 2	$ 5.50
Shares issued	229	339	2,633
Shares retained	371	61	2,367
Cash paid at exercise	$ 0	$ 0	$ 0
Stock price on date of exercise	$ 13.75	$ 13.05	$ 11.62
Aggregate value of shares retained	$ 3,150	$ 800	$ 27,500
Exercised Option 6 [Member]
Options exercised	20,000		15,000
Exercise price	$ 5.50		$ 4.50
Shares issued	11,953		15,000
Shares retained	8,047		0
Cash paid at exercise	$ 0		$ 67,500
Stock price on date of exercise	$ 13.67		$ 11.06
Aggregate value of shares retained	$ 110,000		$ 0
Exercised Option 7 [Member]
Options exercised	2,000		600
Exercise price	$ 8		$ 8
Shares issued	830		600
Shares retained	1,170		0
Cash paid at exercise	$ 0		$ 4,800
Stock price on date of exercise	$ 13.67		$ 8.07
Aggregate value of shares retained	$ 16,000		$ 0
Exercised Option 8 [Member]
Options exercised	2,000
Exercise price	$ 5.25
Shares issued	1,232
Shares retained	768
Cash paid at exercise	$ 0
Stock price on date of exercise	$ 13.67
Aggregate value of shares retained	$ 10,500
Exercised Option 9 [Member]
Options exercised	15,000
Exercise price	$ 2
Shares issued	12,875
Shares retained	2,125
Cash paid at exercise	$ 0
Stock price on date of exercise	$ 14.12
Aggregate value of shares retained	$ 30,000
Exercised Option 10 [Member]
Options exercised	60,000
Exercise price	$ 2
Shares issued	51,238
Shares retained	8,762
Cash paid at exercise	$ 0
Stock price on date of exercise	$ 13.70
Aggregate value of shares retained	$ 120,000

STOCKHOLDERS' EQUITY (Details T

STOCKHOLDERS' EQUITY (Details Textual) - USD ($)	1 Months Ended					12 Months Ended
STOCKHOLDERS' EQUITY (Details Textual) - USD ($)	Jul. 31, 2017	Dec. 31, 2016	Apr. 30, 2016	Jul. 31, 2015	Jun. 30, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Class of Stock [Line Items]
Common Stock, Shares Authorized		150,000,000				150,000,000	150,000,000
Common Stock, Par or Stated Value Per Share		$ 0.001				$ 0.001	$ 0.001
Preferred Stock, Shares Authorized		50,000,000				50,000,000	50,000,000
Stock Issued During Period, Value, New Issues						$ 59,026,956	$ 139,567,979	$ 50,039,853
Share Price		$ 6.93				$ 13.18	$ 6.93	$ 10.73
Proceeds from issuance of common stock						$ 59,026,956	$ 139,567,979	$ 50,039,853
Payments of Stock Issuance Costs								$ 2,860,147
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period						133,308	25,734	57,475
Underwritten Public Offering [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues	4,977,658	7,195,387	11,500,000
Stock Issued During Period, Value, New Issues	$ 62,220,725	$ 82,746,951	$ 64,400,000
Share Price	$ 12.50	$ 11.50	$ 5.60				$ 11.50
Proceeds from issuance of common stock	$ 59,026,956	$ 78,485,787	$ 61,063,497
Payments of Stock Issuance Costs	$ 3,193,769	$ 4,261,164	$ 3,336,503
Over-Allotment Option [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues	477,658	670,387	1,500,000
Common Stock [Member] \| Public Offering [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues				100,000	4,500,000
Proceeds from issuance of common stock				$ 1,150,000	$ 51,750,000
Sale of Stock, Price Per Share				$ 11.50	$ 11.50

EMPLOYEE STOCK OPTIONS AND RE50

EMPLOYEE STOCK OPTIONS AND RESTRICTED STOCK AWARD PLAN (Details)	12 Months Ended
	Dec. 31, 2017$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuances of options	1,140,750
April 1, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuances of options	3,750
Exercise price of options \| $ / shares	$ 10.89
December 9, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuances of options	291,000
Exercise price of options \| $ / shares	$ 8.25
January 13, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuances of options	241,000	[1]
Exercise price of options \| $ / shares	$ 5.25	[1]
May 3, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuances of options	15,000
Exercise price of options \| $ / shares	$ 6.42
December 13, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuances of options	582,500
Exercise price of options \| $ / shares	$ 11.75
April 20, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuances of options	7,500
Exercise price of options \| $ / shares	$ 11.70

[1]	On December 9, 2015, Ring issued option awards to its named executive officers and directors. On January 13, 2016, upon the recommendation of the Compensation Committee, Ring rescinded the option awards granted to its employees and directors (other than Messrs McCabe and Rochford, who are the members of the Compensation Committee) as the result of a significant decline in the stock price and re-issued the the option awards as of that date to meet the goals and objectives of the Company’s equity based compensation program. The amounts shown as Option Awards includes the additional fair value of the new options over the original grant.

EMPLOYEE STOCK OPTIONS AND RE51

EMPLOYEE STOCK OPTIONS AND RESTRICTED STOCK AWARD PLAN (Details 1) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Issued	1,140,750
Options Outstanding at end of year	3,193,000
Options Exercisable at end of year	2,093,900
Weighted Average Exercise Price, Exercised	$ 2.63	$ 4.41	$ 3.46
Equity Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding at beginning of the year	3,362,350	2,881,750	2,684,500
Options Issued	7,500	838,500	294,750
Forfeited or rescinded	(11,450)	(331,400)	(32,500)
Options Exercised	(165,400)	(26,500)	(65,000)
Options Outstanding at end of year	3,193,000	3,362,350	2,881,750
Options Exercisable at end of year	2,091,900	1,722,850	1,214,000
Weighted Average Exercise Price, Outstanding at beginning of the year	$ 5.9	$ 5.07	$ 4.67
Weighted Average Exercise Price, Issued	11.7	9.79	8.28
Weighted Average Exercise Price, Forfeited or rescinded	10.12	8.62	4.47
Weighted Average Exercise Price, Exercised	2.63	4.41	3.46
Weighted Average Exercise Price, Outstanding at end of year	6.07	5.9	5.07
Weighted Average Exercise Price, Exercisable at end of year	4.85	4.01	3.85
Weighted average fair value of options granted during the year	$ 9.14	$ 9.72	$ 6.55

EMPLOYEE STOCK OPTIONS AND RE52

EMPLOYEE STOCK OPTIONS AND RESTRICTED STOCK AWARD PLAN (Details 2)	12 Months Ended
	Dec. 31, 2017
April 1, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate	1.32%
Expected life (years)	6 years 6 months
Dividend yield	0.00%
Volatility	103.00%
December 9, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate	1.64%
Expected life (years)	6 years 6 months
Dividend yield	0.00%
Volatility	100.00%
January 13, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate	1.51%
Expected life (years)	6 years 6 months
Dividend yield	0.00%
Volatility	100.00%
May 3, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate	1.25%
Expected life (years)	6 years 6 months
Dividend yield	0.00%
Volatility	99.00%
December 13, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate	1.92%
Expected life (years)	6 years 6 months
Dividend yield	0.00%
Volatility	96.00%
April 20, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate	1.78%
Expected life (years)	6 years 6 months
Dividend yield	0.00%
Volatility	94.00%

EMPLOYEE STOCK OPTIONS AND RE53

EMPLOYEE STOCK OPTIONS AND RESTRICTED STOCK AWARD PLAN (Details 3)	12 Months Ended
	Dec. 31, 2017$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding - Number Outstanding	3,193,000
Options Outstanding - Weighted-Average Remaining Contractual Life (in years)	6 years 3 months 7 days
Options Outstanding - Number Exercisable	2,093,900
Exercise Price One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding - Exercise price \| $ / shares	$ 2
Options Outstanding - Number Outstanding	555,000
Options Outstanding - Weighted-Average Remaining Contractual Life (in years)	4 years 2 months 1 day
Options Outstanding - Number Exercisable	555,000
Exercise Price Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding - Exercise price \| $ / shares	$ 4.50
Options Outstanding - Number Outstanding	1,340,000
Options Outstanding - Weighted-Average Remaining Contractual Life (in years)	5 years 2 months 26 days
Options Outstanding - Number Exercisable	1,080,000
Exercise Price Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding - Exercise price \| $ / shares	$ 5.50
Options Outstanding - Number Outstanding	5,000
Options Outstanding - Weighted-Average Remaining Contractual Life (in years)	5 years 5 months 12 days
Options Outstanding - Number Exercisable	0
Exercise Price Four [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding - Exercise price \| $ / shares	$ 7.50
Options Outstanding - Number Outstanding	29,000
Options Outstanding - Weighted-Average Remaining Contractual Life (in years)	5 years 8 months 23 days
Options Outstanding - Number Exercisable	23,000
Exercise Price Five [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding - Exercise price \| $ / shares	$ 10
Options Outstanding - Number Outstanding	90,000
Options Outstanding - Weighted-Average Remaining Contractual Life (in years)	6 years 2 months 16 days
Options Outstanding - Number Exercisable	72,000
Exercise Price Six [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding - Exercise price \| $ / shares	$ 14.54
Options Outstanding - Number Outstanding	20,000
Options Outstanding - Weighted-Average Remaining Contractual Life (in years)	6 years 11 months 26 days
Options Outstanding - Number Exercisable	12,000
Exercise Price Seven [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding - Exercise price \| $ / shares	$ 8
Options Outstanding - Number Outstanding	282,500
Options Outstanding - Weighted-Average Remaining Contractual Life (in years)	7 years 2 months 1 day
Options Outstanding - Number Exercisable	168,700
Exercise Price Eight [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding - Exercise price \| $ / shares	$ 8.25
Options Outstanding - Number Outstanding	50,000
Options Outstanding - Weighted-Average Remaining Contractual Life (in years)	8 years 2 months 8 days
Options Outstanding - Number Exercisable	20,000
Exercise Price Nine [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding - Exercise price \| $ / shares	$ 5.25
Options Outstanding - Number Outstanding	223,000
Options Outstanding - Weighted-Average Remaining Contractual Life (in years)	8 years 3 months 11 days
Options Outstanding - Number Exercisable	45,000
Exercise Price Ten [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding - Exercise price \| $ / shares	$ 6.42
Options Outstanding - Number Outstanding	15,000
Options Outstanding - Weighted-Average Remaining Contractual Life (in years)	8 years 7 months 2 days
Options Outstanding - Number Exercisable	3,000
Exercise Price Eleven [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding - Exercise price \| $ / shares	$ 11.75
Options Outstanding - Number Outstanding	576,000
Options Outstanding - Weighted-Average Remaining Contractual Life (in years)	9 years 2 months 12 days
Options Outstanding - Number Exercisable	115,200
Exercise Price Twelve [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Outstanding - Exercise price \| $ / shares	$ 11.70
Options Outstanding - Number Outstanding	7,500
Options Outstanding - Weighted-Average Remaining Contractual Life (in years)	9 years 3 months 18 days
Options Outstanding - Number Exercisable	0

EMPLOYEE STOCK OPTIONS AND RE54

EMPLOYEE STOCK OPTIONS AND RESTRICTED STOCK AWARD PLAN (Details 4)	12 Months Ended
	Dec. 31, 2017shares
Restricted Stock [Member]
December 19, 2017	330,900

EMPLOYEE STOCK OPTIONS AND RE55

EMPLOYEE STOCK OPTIONS AND RESTRICTED STOCK AWARD PLAN (Details 5) - Restricted Stock [Member]	12 Months Ended
	Dec. 31, 2017$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock, Outstanding at beginning of the year \| shares	0
Restricted stock, Granted \| shares	330,900
Restricted stock, Forfeited or rescinded \| shares	0
Restricted stock, Vested \| shares	0
Restricted stock, Outstanding at end of year \| shares	330,900
Weighted-Average Grant Date Fair Value, Outstanding at beginning of the year \| $ / shares	$ 0
Weighted-Average Grant Date Fair Value, Granted \| $ / shares	13.44
Weighted-Average Grant Date Fair Value, Forfeited or rescinded \| $ / shares	0
Weighted-Average Grant Date Fair Value, Vested \| $ / shares	0
Weighted-Average Grant Date Fair Value, Outstanding at end of year \| $ / shares	$ 13.44

EMPLOYEE STOCK OPTIONS AND RE56

EMPLOYEE STOCK OPTIONS AND RESTRICTED STOCK AWARD PLAN (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		1,040,200
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	20.00%
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	$ 3,741,997
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 6 months
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value	$ 25,126,363
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	$ 19,884,600
Share-based Compensation Arrangement by Share-based Payment Award, Per Share Weighted Average Price of Shares Purchased	$ 13.90
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 1,744,047	$ 65,089	$ 476,642
Share-based Compensation	$ 3,685,079	$ 2,267,053	$ 2,566,716
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	165,400	26,500	65,000
Share-based Compensation	$ 3,618,309	$ 2,267,053	$ 2,566,716
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	20.00%
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	5 years
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	$ 4,380,526
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years
Share-based Compensation	$ 66,770

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Textual) - USD ($)	12 Months Ended
RELATED PARTY TRANSACTIONS (Details Textual) - USD ($)	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Operating Leases, Rent Expense, Net	$ 60,000	$ 60,000	$ 60,000

COMMITMENTS AND CONTINGENT LI58

COMMITMENTS AND CONTINGENT LIABILITIES (Details)	Dec. 31, 2017USD ($)
Loss Contingencies [Line Items]
2,018	$ 531,550
2,019	539,675
2,020	37,725
Total	$ 1,108,950

COMMITMENTS AND CONTINGENT LI59

COMMITMENTS AND CONTINGENT LIABILITIES (Details Textual)	12 Months Ended
COMMITMENTS AND CONTINGENT LIABILITIES (Details Textual)	Dec. 31, 2017USD ($)ft²	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net \| $	$ 60,000	$ 60,000	$ 60,000
Corporate Headquarters In Midland, Texas [Member]
Loss Contingencies [Line Items]
Area of Land \| ft²	15,000
Former Corporate Headquarters In Midland, Texas [Member]
Loss Contingencies [Line Items]
Area of Land \| ft²	3,700
Field Office In Andrews, Texas [Member]
Loss Contingencies [Line Items]
Area of Land \| ft²	2,000
Standby Letters of Credit [Member]
Loss Contingencies [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity \| $	$ 280,000
Capital Lease Obligations [Member]
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net \| $	$ 543,770	$ 527,582	$ 526,658

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
INCOME TAXES (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Provision for Income Taxes
Deferred taxes	$ 10,416,171	$ (19,987,585)	$ (5,003,713)
Provision for (Benefit from) Income Taxes	$ 10,416,171	$ (19,987,585)	$ (5,003,713)

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	12 Months Ended
INCOME TAXES (Details 1) - USD ($)	Dec. 31, 2017		Dec. 31, 2016		Dec. 31, 2015
Rate Reconciliation
Tax at federal statutory rate (34%)	$ 4,194,556		$ (19,592,592)		$ (4,779,205)
Non-deductible expenses	6,158		2,558		6,599
Excess tax benefit from stock option exercises	(453,217)		15,055		(89,597)
Adjust prior estimates to tax return	(58,766)		167,526		0
States taxes, net of Federal benefit	124,200		(580,132)		(141,510)
Effect of departure from State of Kansas	(350,059)	[1]	0	[1]	0
Adjustment for change in future effective tax rate	6,953,299	[1]	0	[1]	0
Provision for (Benefit from) Income Taxes	$ 10,416,171		$ (19,987,585)		$ (5,003,713)

[1]	The enactment of the Tax Cuts and Jobs Act provided for a decrease in the corporate tax rate to 21% from 35%, resulting in a net $6.95 million reduction to our net deferred tax asset as of December 31, 2017.

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Deferred tax liabilities
Property and equipment	$ 27,563,290	$ 10,092,289
Deferred tax assets
Stock-based compensation	6,667,643	3,814,909
Operating loss and IDC carryforwards	32,127,847	26,329,288
Deferred tax assets	38,795,490	30,144,197
Net deferred income tax asset	$ (11,232,200)	$ (20,051,908)

INCOME TAXES (Details Textual)

INCOME TAXES (Details Textual) - USD ($)	12 Months Ended
INCOME TAXES (Details Textual) - USD ($)	Dec. 31, 2018	Dec. 31, 2017		Dec. 31, 2016	[1]	Dec. 31, 2015
Income Tax Contingency [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		35.00%
Company Had Net Operating Loss Carry Forwards For Federal Income Tax Reporting Purposes Of Approximately In Millions		$ 106,900,000
Operating Loss Carry Forwards Expiration Starting Year		2,027
Operating Loss Carry Forwards Expiration Ending Year		2,037
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount		$ 6,953,299	[1]	$ 0		$ 0
Scenario, Plan [Member]
Income Tax Contingency [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%

[1]	The enactment of the Tax Cuts and Jobs Act provided for a decrease in the corporate tax rate to 21% from 35%, resulting in a net $6.95 million reduction to our net deferred tax asset as of December 31, 2017.

QUARTERLY FINANCIAL DATE (UNA64

QUARTERLY FINANCIAL DATE (UNAUDITED) (Details) - USD ($)	3 Months Ended												12 Months Ended
QUARTERLY FINANCIAL DATE (UNAUDITED) (Details) - USD ($)	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Effect of Fourth Quarter Events [Line Items]
Revenues	$ 23,308,668	$ 16,643,930	$ 14,503,309	$ 12,243,793	$ 9,830,709	$ 7,822,543	$ 7,104,609	$ 6,092,388	$ 7,362,394	$ 8,629,007	$ 8,976,790	$ 6,045,701	$ 66,699,700	$ 30,850,248	$ 31,013,892
Operating Income (Loss)	6,550,596	4,292,081	2,621,612	2,502,852	1,438,007	(9,121,201)	(25,516,087)	(23,833,480)	(11,311,117)	(1,473,514)	1,019,686	(1,549,389)	15,967,141	(57,032,761)	(13,314,334)
Net Income (Loss)	$ (4,509,935)	$ 3,073,760	$ 1,910,763	$ 1,279,281	$ (477,006)	$ (5,944,137)	$ (15,941,500)	$ (15,275,044)	$ (7,473,046)	$ (1,138,268)	$ 534,167	$ (975,624)	$ 1,753,869	$ (37,637,687)	$ (9,052,771)
Basic Net Income (Loss) Per Share	$ (0.08)	$ 0.06	$ 0.04	$ 0.03	$ (0.01)	$ (0.14)	$ (0.41)	$ (0.5)	$ (0.25)	$ (0.04)	$ 0.02	$ (0.04)	$ 0.03	$ (0.97)	$ (0.32)
Diluted Net Income (Loss) Per Share	$ (0.08)	$ 0.06	$ 0.04	$ 0.03	$ (0.01)	$ (0.14)	$ (0.41)	$ (0.5)	$ (0.25)	$ (0.04)	$ 0.02	$ (0.04)	$ 0.03	$ (0.97)	$ (0.32)

SUBSEQUENT EVENTS (Details Text

SUBSEQUENT EVENTS (Details Textual) - USD ($)	Mar. 15, 2018	Mar. 14, 2018	Jul. 31, 2017	Dec. 31, 2016	Apr. 30, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Subsequent Event [Line Items]
Proceeds from Lines of Credit						$ 0	$ 7,000,000	$ 45,900,000
Share Price				$ 6.93		$ 13.18	$ 6.93	$ 10.73
Stock Issued During Period, Value, New Issues						$ 59,026,956	$ 139,567,979	$ 50,039,853
Payments of Stock Issuance Costs								$ 2,860,147
Over-Allotment Option [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues			477,658	670,387	1,500,000
Underwritten Public Offering [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues			4,977,658	7,195,387	11,500,000
Share Price			$ 12.50	$ 11.50	$ 5.60		$ 11.50
Stock Issued During Period, Value, New Issues			$ 62,220,725	$ 82,746,951	$ 64,400,000
Payments of Stock Issuance Costs			$ 3,193,769	$ 4,261,164	$ 3,336,503
Subsequent Event [Member]
Subsequent Event [Line Items]
Proceeds from Lines of Credit	$ 10,000,000
Subsequent Event [Member] \| Over-Allotment Option [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues	804,000
Subsequent Event [Member] \| Underwritten Public Offering [Member]
Subsequent Event [Line Items]
Proceeds From Issuance Of Common Stock Gross	$ 81,800,000
Stock Issued During Period, Shares, New Issues	6,164,000	6,164,000
Share Price	$ 14
Stock Issued During Period, Value, New Issues	$ 86,296,000
Payments of Stock Issuance Costs	$ 4,500,000