Ring Energy Sustainability Profile
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 21 is lower than 62% 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 2023, Ring Energy reported total carbon emissions of approximately 111,920,000 kg CO2e for Scope 1 and 81,623,000 kg CO2e for Scope 2, resulting in a combined total of about 193,551,000 kg CO2e. This marks a significant reduction from 2022, where emissions were approximately 272,367,000 kg CO2e for Scope 1 and 62,842,000 kg CO2e for Scope 2, leading to a total of about 335,282,000 kg CO2e. The company has disclosed emissions data for both Scope 1 and Scope 2, with no data available for Scope 3 emissions. Notably, the Scope 1 emissions include fugitive emissions of about 2,310,000 kg CO2e in 2023, while Scope 2 emissions primarily stem from purchased electricity. Despite the substantial emissions figures, Ring Energy has not set specific reduction targets or initiatives as part of their climate commitments. The absence of SBTi (Science Based Targets initiative) reduction targets indicates a potential area for future development in their climate strategy. Overall, Ring Energy's emissions data reflects their operational impact, and while they have made progress in reducing emissions year-on-year, further commitments and targets could enhance their climate action efforts.
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| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Scope 1 | 113,690,000 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 2 | 60,423,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | - | - | - | - |
How Carbon Intensive is Ring Energy's Industry?
How Carbon Intensive is Ring Energy's Location?
Ring Energy's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Ring Energy has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
