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 higher than 74% 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 reported total carbon emissions of approximately 191,090,000 kg CO2e from Scope 1 and 62,915,000 kg CO2e from Scope 2, resulting in a combined total of about 253,005,000 kg CO2e. This marked an increase from 2021, where emissions were approximately 121,739,000 kg CO2e for Scope 1 and 59,914,000 kg CO2e for Scope 2, totalling around 181,653,000 kg CO2e. In 2020, the company emitted about 113,690,000 kg CO2e from Scope 1 and 60,423,000 kg CO2e from Scope 2, leading to a total of approximately 174,113,000 kg CO2e. Despite these figures, Ring Energy has not disclosed any specific reduction targets or initiatives aimed at decreasing their carbon footprint. The absence of Scope 3 emissions data indicates a potential area for future reporting and improvement. The company operates within the mineral fuels and oils sector, where emissions intensity is a critical metric; in 2022, their Scope 1 and 2 emissions intensity was reported at approximately 33,500 metric tons CO2e per million barrels of oil equivalent (Mboe). Overall, while Ring Energy has made strides in emissions reporting, the lack of defined reduction targets suggests an opportunity for enhanced climate commitments moving forward.
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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.
