Gas flares are the
flames that angrily belch out the top of oil wells to burn off excess natural
gas in the oil wells. Gas flaring, as the actual process is called, is a heavy
contributor to carbon dioxide emissions, fatally affects birds and insects that
migrate toward the flames, and has also been the blame of prairie fires.
Approximately 2.4 million barrels of oil equivalent is wasted each day by gas
flaring alone, resulting in $10 billion of lost revenue and 400 million metric
tons of CO2 equivalent global greenhouse gas emissions each year.
Houston, Texas-based
Well Power aims to reduce the waste natural gas through its licensing rights to
Texas and first right of refusal on the other U.S. states to a proprietary
technology solution that converts waste natural gas into “clean power” and
engineered fuels.
Well Power plans to
provide its technology to clients in the upstream areas of exploration and
production as a means to reduce CO2 emissions while creating revenue streams
with minimal capital expenditure. By pairing its technology with consulting
services, process assessments, facility appraisals, feasibility studies,
technology evaluations, project finance structuring and support, and
multi-client subscription services, the company hopes to create value from a
wasted resource while simultaneously enabling wider access to energy, improved
environmental conditions, and economic development for local populations.
The company’s Micro
Refinery Unit (MRU) has the ability to process raw natural gas flows between 75
Mcf-250 Mcf, which is then converted into Syngas (CO and hydrogen). This is
followed by a Fischer-Tropsch reaction to produce Green Fuel™ and power, which
is produced from heat generated by exothermic reactions and combustion.
Well Power recognizes
that gas flaring reduction has the potential to be one of the great energy and
environmental success stories, and that it has the potential to be achieved
within the next five years.
For more information
about Well Power, visit: www.wellpowerinc.com
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