Ring Energy Announces Issuance of 2023 Sustainability Report
2023年12月28日 - 8:45PM
Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”)
today announced that it has issued its 2023 Sustainability Report
(the “2023 Report”), which is available on the Company’s website at
www.ringenergy.com under the “Sustainability” tab.
The report provides updated and comprehensive
information about Ring’s Environmental, Social and Governance
(“ESG”) initiatives and related key performance indicators. In the
creation of the document, the Company primarily consulted the
Sustainability Accounting Standards Board’s (“SASB”) Oil and Gas
Exploration and Production Sustainability Accounting Standard and
the Global Sustainability Standards Board’s Global Reporting
Initiative (“GRI”) and associated Oil & Gas Sector Standards.
In addition, the Company considered the recommendations of the Task
Force on Climate-related Financial Disclosures (“TCFD”), the
Sustainable Development Goals (“SDGs”) promulgated by the United
Nations, and guidance from other industry frameworks and the
various ESG ratings agencies, as appropriate.
During 2022 and into 2023, the Company has
executed a number of its targeted ESG initiatives, and these
projects are discussed in the 2023 Report. This includes the
Company’s:
-
Thorough review and related capital investment in industry-leading
technologies designed to reduce emissions across its
operations;
-
Continued and important progress on its targeted TARGET ZERO-365
program focused on health, safety and environmental
excellence;
-
Pro-active outreach to the Company’s top shareholders concerning
say-on-pay and other governance matters, as well as other ESG
topics that were of interest to investors;
-
The Company appreciated the feedback and incorporated
recommendations in the development of the 2023 Report;
-
Introduction of reporting Greenhouse Gas (“GHG”) emissions
intensity metrics; and
-
Expanded the Company’s ESG reporting frameworks to now include
GRI’s global and oil and gas sector standards.
Paul D. McKinney, Chairman of the Board and
Chief Executive Officer, commented, “We are pleased to release our
2023 Sustainability Report, which provides an update on our ESG
performance and continued efforts to enhance the long-term
sustainability of our business. During 2022 and 2023, we continued
to make substantial progress planning and executing our
sustainability initiatives. This includes significant capital
investment in further enhancement of our GHG and other air
emissions reduction efforts and the continued advancement of our
TARGET ZERO-365 program focused on building an HSE culture that
empowers employees and contractors to naturally achieve an incident
free environment. In addition, we expanded our disclosure of
important ESG metrics and relevant reporting
frameworks.”
Mr. McKinney continued, “Further enhancing our
long-term sustainability from the release of our last
sustainability report, we followed the transformative acquisition
of Stronghold Energy's assets in 2022 by further consolidating our
core position in the Central Basin Platform – or CBP – via the
immediately accretive acquisition of the assets of privately held
Founders Oil & Gas IV, LLC (“Founders”), which closed in August
2023. The acquired Founders operations in the CBP are located in
Ector County, Texas – near our existing CBP operations – and
focused on the development of approximately 3,600 net leasehold
acres that are 100% operated with an average 99% working interest,
and 100% held by production. During the third quarter of 2023,
these two acquisitions helped Ring to generate record financial
performance. We continue to believe a financially sustainable
company depends on having a corporate culture that strives for
continuous improvement in environmental, operational and safety
performance, and governance-related matters. We are confident our
2023 Report showcases our progress on these important fronts.”
About Ring Energy, Inc.
Ring Energy, Inc. is an oil and gas exploration,
development, and production company with current operations focused
on the development of its Permian Basin assets. For additional
information, please visit www.ringenergy.com.
Safe Harbor Statement
This release contains forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements involve a wide variety of risks
and uncertainties, and include, without limitation, statements with
respect to the Company’s strategy and prospects. The
forward-looking statements include statements about the expected
future reserves, production, financial position, business strategy,
revenues, earnings, costs, capital expenditures and debt levels of
the Company; plans and objectives of management for future
operations; and the Company’s goals and expectations regarding
emissions, safety performance and other ESG matters.
Forward-looking statements are based on current expectations and
assumptions and analyses made by Ring and its management in light
of their experience and perception of historical trends, current
conditions and expected future developments, as well as other
factors appropriate under the circumstances. However, whether
actual results and developments will conform to expectations is
subject to a number of material risks and uncertainties, including
but not limited to: declines in oil, natural gas liquids or natural
gas prices; the level of success in exploration, development and
production activities; adverse weather conditions that may
negatively impact development or production activities; the timing
of exploration and development expenditures; inaccuracies of
reserve estimates or assumptions underlying them; revisions to
reserve estimates as a result of changes in commodity prices;
impacts to financial statements as a result of impairment
write-downs; risks related to level of indebtedness and periodic
redeterminations of the borrowing base and interest rates under the
Company’s credit facility; Ring’s ability to generate sufficient
cash flows from operations to meet the internally funded portion of
its capital expenditures budget; the impacts of hedging on results
of operations; and Ring’s ability to replace oil and natural gas
reserves. Such statements are subject to certain risks and
uncertainties which are disclosed in the Company’s reports filed
with the Securities and Exchange Commission (“SEC”), including its
Form 10-K for the fiscal year ended December 31, 2022, and its
other SEC filings. Ring undertakes no obligation to revise or
update publicly any forward-looking statements except as required
by law.
Contact Information
Al Petrie Advisors
Al Petrie, Senior Partner
Phone: 281-975-2146
Email: apetrie@ringenergy.com
Ring Energy (AMEX:REI)
過去 株価チャート
から 5 2024 まで 6 2024
Ring Energy (AMEX:REI)
過去 株価チャート
から 6 2023 まで 6 2024