Ring Energy Selects Veriforce® as Exclusive Contractor Management Partner to Streamline Safety and Compliance Operations

Rhea-AI Summary

Ring Energy (NYSE:REI) has selected Veriforce as its exclusive contractor management provider to enhance safety and compliance operations. The partnership aims to streamline Ring Energy's contractor oversight processes as the company experiences significant growth.

Through this collaboration, Ring Energy will utilize Veriforce's centralized solution for managing its contractor base, including compliance management capabilities and expert-led workforce training. The training programs encompass SafeLand and Hydrogen Sulfide (H2S) awareness courses to ensure contractor safety compliance before site access.

Positive

• Partnership with Veriforce provides scalable contractor management solution
• Implementation of centralized compliance and safety verification system
• Access to expert-led workforce training programs

Negative

• None.

News Market Reaction

-3.14%

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-3.14% News Effect

On the day this news was published, REI declined 3.14%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Veriforce® brings end-to-end contractor management, safety verification, and workforce training support to leading independent oil and gas producer

THE WOODLANDS, Texas, June 24, 2025 /PRNewswire/ -- Veriforce, the largest global provider of contractor management and workforce qualification solutions, announced today that Ring Energy Inc., a rapidly growing oil and gas exploration and production company, has selected Veriforce as its exclusive contractor management provider. Through this partnership, Veriforce will support Ring Energy in simplifying its contractor oversight processes and elevating its safety and compliance capabilities amid recent growth.

"Over the last few years, Ring Energy has expanded significantly, and so has our network of contractors," said Chris Gafford, HSE Manager for Ring Energy. "It was becoming challenging to handle contractor management internally. We needed a partner with the tools and expertise to help us scale safely, and that's why we chose Veriforce."

Through Veriforce, Ring Energy gains a centralized solution to manage its entire contractor base efficiently. In addition to core compliance management capabilities, Ring is leveraging Veriforce's expert-led workforce training, including SafeLand and Hydrogen Sulfide (H2S) awareness courses, to ensure contractors meet critical safety training requirements before stepping on site.

"Our goal was to free up time with our field and office personnel, improving how we verify contractor insurance and MSAs," Chris added. "More importantly, we needed a better way to understand how our contractors are handling safety. Veriforce provides that insight."

"Ring Energy's commitment to building a scalable and safety-focused contractor program aligns perfectly with Veriforce's mission to empower high-performing, risk-ready operations across the energy sector," said Carlos Ramon, VP, US and Global at Veriforce. "We're proud to support their growth and provide the tools they need to operate more efficiently and with greater confidence in their contractor network."

For more information on Veriforce's contractor management solutions and safety training programs, visit veriforce.com

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 https://www.ringenergy.com.

About Veriforce

Veriforce® is a global leader in contractor management, helping companies build safe, qualified, and compliant workforces. Through our integrated SaaS platform we combine contractor qualification, training, evaluation, and compliance tracking to reduce risk and improve workforce performance across industries.

With a network spanning over 3,200 hiring companies in 140+ countries and supporting more than 130,000 contractors and millions of workers, Veriforce connects organizations with trusted third-party labor to get the job done safely and efficiently. We also support a robust community of over 7,000 authorized instructors and evaluators.

Veriforce is the partner of choice for companies committed to ensuring workforce readiness and safety. We operate globally with offices in the U.S., Canada, South Africa, the U.K., and Australia. For more information, visit www.veriforce.com.

Media contact:
Emma Keates, Senior Director PR & Communications
Emma.keates@veriforce.com
+44 7769671378

Photo: https://mma.prnewswire.com/media/2713911/Veriforce.jpg

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SOURCE Veriforce

FAQ

What is the new partnership between Ring Energy (REI) and Veriforce?

Ring Energy has selected Veriforce as its exclusive contractor management provider to streamline safety and compliance operations, offering centralized contractor management and workforce qualification solutions.

How will Veriforce's services benefit Ring Energy's operations?

Veriforce will help Ring Energy simplify contractor oversight processes, provide centralized compliance management, and deliver expert-led workforce training including SafeLand and H2S awareness courses.

Why did Ring Energy (REI) choose Veriforce for contractor management?

Ring Energy chose Veriforce due to recent company growth and the need for better contractor management tools, specifically to scale safely and improve verification of contractor insurance, MSAs, and safety practices.

What specific training programs does Veriforce provide to Ring Energy contractors?

Veriforce provides expert-led workforce training programs including SafeLand and Hydrogen Sulfide (H2S) awareness courses to ensure contractors meet safety training requirements before accessing sites.