This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Ring Energy, Inc. is an independent oil and gas exploration, development, and production company whose operations are focused exclusively on the Permian Basin. Its business strategy is centered on the acquisition and development of oil and liquids-rich assets, as demonstrated by its 2025 acquisition of the Central Basin Platform assets. The company's core activity is the upstream extraction of fossil fuels.
The Texas Railroad Commission documented an environmental violation by Ring Energy in Andrews County for the unpermitted disposal of oil and gas wastes in December 2018. This regulatory failure fits within a pattern of operational misconduct, including a separate 2017 legal dispute where a permit was contested in part due to allegations of fresh water contamination.
Ring Energy, Inc. is an independent oil and gas exploration and production company focused on acquiring and developing assets in the Permian Basin. Its entire business model and revenue are derived from the upstream extraction of fossil fuels. In 2025, the company reported record oil sales of approximately 14,511 barrels per day and detailed significant production tax expenses directly tied to its oil and natural gas output. Its corporate materials explicitly state its focus is on the "acquisition, exploration, and development" of oil and gas reserves to generate positive cash flow.
The company holds proved reserves totaling approximately 77.8 million barrels of oil equivalent. Its operational and financial disclosures are exclusively centered on hydrocarbon production, with no announced plans to transition its business away from fossil fuel extraction or to develop renewable energy assets.
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A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.