Ring Energy
Ring Energy, Inc., a prominent player in the oil and gas industry, is headquartered in the United States, with significant operations in the Permian Basin and the Central Basin Platform. Founded in 2011, the company has rapidly established itself as a key operator in the exploration and production of oil and natural gas, focusing on enhancing production through innovative techniques and strategic acquisitions. Specialising in the development of oil reserves, Ring Energy is recognised for its efficient drilling practices and commitment to sustainability. The company’s unique approach to resource management has positioned it favourably within the competitive landscape, allowing it to achieve notable milestones in production growth and operational efficiency. With a strong emphasis on maximising shareholder value, Ring Energy continues to solidify its reputation as a reliable and forward-thinking entity in the energy sector.
DitchCarbon Score
How does Ring Energy's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Electricity Transmission industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Ring Energy's score of 18 is lower than 53% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Ring Energy's reported carbon emissions
In 2022, Ring Energy, headquartered in the US, reported total carbon emissions of approximately 191,090,000 kg CO2e for Scope 1 and 62,915,000 kg CO2e for Scope 2. This represents a significant increase from 2021, where emissions were about 121,739,000 kg CO2e for Scope 1 and 59,914,000 kg CO2e for Scope 2. The company has not disclosed any Scope 3 emissions data. Despite the increase in emissions, Ring Energy has not set specific reduction targets or initiatives as part of their climate commitments. There are no reported commitments to the Science Based Targets initiative (SBTi) or other climate pledges. The absence of reduction targets suggests that the company may be in the early stages of developing a comprehensive climate strategy. The emissions intensity for Scope 1 and 2 in 2022 was approximately 33,500 metric tons CO2e per million barrels of oil equivalent (Mboe), a decrease from about 42,300 metric tons CO2e per Mboe in 2021. This indicates a potential improvement in operational efficiency, although the overall emissions have increased. Ring Energy's emissions data is not cascaded from any parent organisation, and all figures are sourced directly from Ring Energy, Inc. As the company continues to navigate its environmental impact, further commitments and strategies may be anticipated in the future.
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| 2020 | 2021 | 2022 | |
|---|---|---|---|
| Scope 1 | 113,690,000 | 000,000,000 | 000,000,000 |
| Scope 2 | 60,423,000 | 00,000,000 | 00,000,000 |
| Scope 3 | - | - | - |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Ring Energy is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
