StockNews.AI
REI
StockNews.AI
56 days

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

1. Ring Energy partners with Veriforce for contractor management. 2. The partnership simplifies contractor oversight and improves safety compliance. 3. Veriforce enhances training capabilities for Ring's expanding contractor network. 4. Ring Energy aims to scale operations efficiently while ensuring safety. 5. This alignment may streamline operations within the competitive oil and gas sector.

6m saved
Insight
Article

FAQ

Why Bullish?

The partnership indicates operational efficiency and safety, which enhances investor confidence. Historically, improvements in safety and operational efficiency have positively correlated with stock performance in the oil and gas sector.

How important is it?

The article presents a key strategic partnership likely to improve REI’s operational capabilities, which can resonate positively with investors.

Why Short Term?

Initial gains from efficiency improvements may manifest soon. Similar partnerships in the industry have led to rapid operational benefits and investor interest.

Related Companies

OXYCVXEOGAPAPXD
Veriforce® brings end-to-end contractor management, safety verification, and workforce training support to leading independent oil and gas producer, /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. Ring Energy Selects Veriforce to Streamline Safety and Compliance Operations "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.comAbout 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 VeriforceVeriforce® 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[email protected]+44 7769671378Photo: https://mma.prnewswire.com/media/2713911/Veriforce.jpgSOURCE Veriforce WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Related News