Well Power has
secured exclusive licensing and distribution rights in Texas, as well as rights
of first-refusal in the other states, to a continually developing and extremely
flexible/scalable Micro-Refinery Unit (MRU) technology that lets upstream oil
and gas operators simultaneously address the environmental impact/inevitably
increasing regulatory costs of gas flaring and process the otherwise burned-off
gas down into highly saleable fuel products or clean energy on-site.
The initial target
market for this technology couldn’t be richer, with activity in the Permian
Basin, Barnett Shale, and Eagle Ford Shale alone representing a huge customer
base for the MRU roll out, with operators all keen to immediately begin
deriving revenue from otherwise wasted resources, including flared, shut-in,
stranded, and vented gas. The ability to simply slap in an MRU on some existing
production architecture and subsequently generate a range of valuable
Engineered Fuel™, from no-sulphur diesel, diluents, and drop-in diesel to
pipeline-quality synthetic crude, is a game-changer for revenue hungry
operators with their eyes fixed on expanding production.
The MRU, an
ingeniously scaled-down and mobile assembly of already proven technologies,
represents a small capital outlay to upstream operators, yet kills two birds
with one stone, reducing CO2 emissions (which face continual regulatory
pressure both at home and abroad) and simultaneously producing what can be
construed from a market standpoint as a kind of LNG export-aligned product
series. The ramp up to monetize abundant U.S. shale gas and export it to Europe
or the Asia-Pacific region is accelerating rapidly, with the U.S. DOE and its
equivalent in the home country of MRU licensor ME Resource Corp. (CNSX:MEC),
the Canadian National Energy Board, approving a total of 14 applications (27
more pending) to export LNG to non-Free Trade Agreement countries as of this
March.
Able to handle 75
Mcf to 250 Mcf flows, the MRU conditions/converts the methane and condensates
into a syngas, which is then chemically liquefied via the Fischer-Tropsch
process into Green Fuel™, while electricity is optionally derived from
associated combustion and exothermic reactions. This technology isn’t just
designed for high yields, slashed emissions, and usability though (modularity
is essential here), it’s also designed for energy efficiency and safety, with extremely
good heat transfer, an integrated heat exchanger, and a single-vessel gauze
reactor plus fluidized bed design that makes for an optimally robust piece of
hardware which can also really get the job done in terms of throughput. WPWR
stands to do very well providing the full-service engineering, as well as
modular fabrication, implementation, and maintenance associated with
distributing this innovative technology in the U.S. and as markets come to
their senses regarding the underlying logistical realities inherent in the
story, investors will have learned about this micro-reactor solution what
upstream operators already know. When the MRU’s finally impact the market, they
are going to hit big.
The company closed
their initial, successful round of funding back in March and subsequently
delivered the initial licensing fee on the MRU technology to MEC and WPWR is
currently seeking to expand their MRU license territory to other states where
the environmental impacts of flaring and obvious economics of the technology
dovetail. With some 150B and growing cubic meters of natural gas flared
worldwide each year, we are wasting an enormous amount of energy, around $10B
worth (at $2.00 per MMBtu), or roughly 23% of our natural gas consumption here
in the U.S. Meanwhile we are needlessly generating roughly 400M metric tons of
CO2-equivalent emissions and those emissions will have to be addressed, one way
or the other. WPWR is well-positioned as a development-stage company to grow
into a major leader in the flare gas capture/processing space.
To learn more about
Well Power, please visit www.wellpowerinc.com
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