Well Power, Inc. (WPWR) Takes on Gas Flaring

Well Power is in talks with MEC Resources to distribute the Micro-Refinery Unit (MRU) it has licensed from the company to territories beyond Texas, specifically, North Dakota, Oklahoma, Wyoming, New Mexico and Colorado. Well Power wants this arrangement because the amount of flared gas is on the rise in many of these regions, and an opportunity exists for it to use the rising concerns of gas flaring to position the MRU as an answer to the problem.

Well Power and MEC continue to develop the MRU and, later this year, plan to deploy the first test unit. While this is happening, the amount of expelled gas in states like Texas, North Dakota and Wyoming is now accounting for over half of the flared gas in the entire country. All of this wasted gas pollutes the air, which of course causes health concerns. It also results in the loss of billions of dollars as undervalued gases (vented, stranded, shut-in and associated gases) that could be captured and repurposed as valuable end products (electric power, engineered fuels, heat, ammonia, reduced GHG, and other end products) simply disappear into thin air.

Why are oil and gas companies flaring gas instead of trapping or using it? The simple answer is economics. It is more cost-effective to burn off the gas than to construct the necessary infrastructure to get it to consumers. Many oil and gas companies also operate wells in out-of-the-way places, and erecting pipelines to reach these wells is, well, costly.

Certain states are taking steps to alleviate some of their gas flaring concerns. North Dakota, for example, is looking into offering a tax-royalty to companies that would use green methods to trap and lessen the amount of gas being flared. Should leading oil and gas producing states succeed at executing such proposals, Well Power plans to be in place to offer them a way to transform flared gas into green energy.

For more information, visit www.wellpowerinc.com

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