Well Power Inc. (WPWR) Offers Solution to a $10 Billion Problem

One of the often stated concerns regarding world dependence upon fossil fuels is that the oil and gas will eventually run out. It’s clear now that fossil fuels will never actually run out, but will simply become harder and more expensive to locate and bring to the surface. That has certainly already been the case over the past several decades as the oil and gas industry has been forced to engage increasingly elaborate technologies, with swelling costs passed on to consumers. In spite of short-term fluctuations, the price of oil and gas continues to trend upward over the long haul, and the drive to engineer ever more efficient use of fossil fuels has gotten intense.

That’s why it’s so surprising to hear that every day approximately 2.4 million barrels of oil equivalent are essentially thrown away. Worse than being simply discarded, it’s intentionally burned up as waste, releasing 400 million metric tons of carbon dioxide equivalent into the atmosphere. Beyond environmental impact, it represents an estimated $10 billion in lost potential revenue. How could this happen?

The problem is what is known as gas flaring, and it effectively wastes 5% of the world’s gas production. During the production of crude oil, natural gas is produced as a byproduct. But remote oil production sites, or any site that doesn’t have the complex pipeline infrastructure necessary to transport this gas, will often just burn the gas off in what are called gas flares. The net result is environmental pollution, and with no productive energy use to show for it.

Well Power has secured the licensing rights to a new technology that is able to process this waste natural gas into usable fuels, such as no-sulfur diesel and diluents. It’s a proprietary solution that is both high-yield and fully mobile, able to be deployed with minimum capital expenditure. The company intends to provide the technology with a range of associated engineering services, including design, construction, fabrication, maintenance, and even construction management, targeting clients in the upstream areas of exploration and production.

For more information, visit www.WellPowerInc.com

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