We are committed to protecting the environment in a manner that follows or goes beyond compliance with all federal, state, and local regulations. Our efforts to minimize our operational impact are multi-faceted, including reducing greenhouse gas (“GHG”) and air emissions, minimizing the use of freshwater, preventing spills, safeguarding local water supplies, and minimizing waste. Our ongoing environmental programs not only reduce our operational impacts but also improve efficiency, lower costs, and reduce risk. Some of the steps we take to safeguard the environment include:
- Continuous and active monitoring of emissions
- Daily well checks to help detect and prevent leaks and emission events
- Prioritize local sourcing of sand and water for development activities, which reduces transportation-related emissions
- Minimizing flaring, which is assisted by the high oil-to-gas ratio of our product mix
- Leveraging the use of longer laterals to reduce the surface impact of our development activities
- Minimizing the use of chemical additives in our well completion and fracking operations
- Leveraging best-in-class equipment at our facilities to reduce vented emissions, including not using high-bleed pneumatic controllers, which is a major source of vented emissions
- Utilizing the best industry practices for drilling, well design, and well casing to protect groundwater resources
Health & Safety
We are committed to building a safety culture that empowers employees and contractors to act as needed to work safely and to stop the job, without retribution, if conditions are deemed unsafe. We strive to be incident-free every day across our operations. We are focused on building and maintaining a safe workplace for all employees and contractors. The oil and gas industry has a number of inherent risks and our workers are often outdoors, in all seasons and all types of weather. In addition, our field personnel spend significant time driving on a daily basis, putting them at risk for driving incidents. A strong safety culture is essential to the Company’s success, and we emphasize the important role that all personnel play in creating and maintaining a safe work environment.
We offer a wide range of training opportunities for employees and contractors to help them develop their skills and understanding of our health and safety policy and programs. In addition to teaching specific skills, these training opportunities encourage personal responsibility for safe operating conditions and help to build a culture of individual accountability for conducting job tasks in a safe and responsible manner.
We strive to attract, develop, and retain the best workforce in the industry as we
recognize our future success is a direct result of their efforts. As such, we provide an attractive compensation and comprehensive benefits program, as well as a positive
work environment designed to drive a culture of innovation. We support both Company-identified and employee-identified educational opportunities for employees to advance in their technical and managerial skills and to help provide opportunities to advance throughout our Company. Our support comes in the form of full or partial funding of educational programs and opportunities, including time off work to attend and/or prepare for such programs.
We will continue to promote honesty and integrity in all interactions with our employees and actively support the communities in which we operate with both our time and resources. We are also committed to continuously providing an inclusive work environment where all of our employees can be respected, valued, and successful in achieving their goals, all while contributing to the Company’s success.
As of December 31, 2020, we had 41 full-time employees as well as a diverse group of independent contractors who assist our full-time staff in a range of areas including geology, engineering, land, accounting, and field operations, as needed. None are represented by labor unions or covered by any collective bargaining agreements.
Diversity and Inclusion
The unique backgrounds and experiences of our employees help to develop a wide range of perspectives that lead to better solutions. Our staff’s diversity is reflected in our full-time employees where 22% are women and nearly one-third represent minorities. The majority of our employees are citizens of the United States, with a few retaining dual citizenships in other countries. The employees who are not U.S. citizens are legally registered to live and work here and the Company is committed to helping those employees retain their ability to remain in the U.S. and continue their employment.
We leverage sound corporate governance practices that promote accountability and
good decision-making, which is a key tenet to our long-term success. Ring is focused on conducting its business and interactions with all stakeholders in a responsible and ethical manner. To promote these goals, we have adopted a Code of Business Conduct and Ethics that is available on our website along with other key governance documents and related information.
Ring acknowledges the importance of and is committed to providing further transparency on ESG matters. In 2021, we changed the name of our “Nominating & Corporate Governance Committee” to “Nominating, Environmental, Social, and Governance Committee” to accurately reflect these priorities. We also began a thorough review process that will result in a robust sustainability report that includes quantitative and qualitative analysis reflecting the Sustainability Accounting Standards Board’s (“SASB”) Oil and Gas Exploration and Production Sustainability Accounting Standard, the recommendations of the Task Force on Climate-related Financial Disclosures (“TCFD”), the Sustainable Development Goals (“SDG’s”) promulgated by the United Nations, and other reporting guidance from industry frameworks and standards. We also changed our bylaws and charters to affect these changes.
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