Thursday, August 14, 2014

Well Power, Inc. (WPWR) Presents Viable Alternative to Costly Consequences of Gas Flaring

Houston-based Well Power is taking a proactive approach to a growing problem within the oil and gas industry: the costly effects of gas flaring. On a global scale, it is estimated there are 150 billion cubic meters of natural gas flared each year. In terms of wasted energy resources and lost revenue potential, that represents 23% of the United States’ natural gas use and around $10 billion in lost revenue. Gas flaring also presents risks to the environment and human health, as it produces millions of metric tons of harmful emissions each year that impact air quality.

There have been growing concerns over gas flaring and its effects in the United States, as seen in recent headlines. For instance, in the resource-rich state of North Dakota, around one-third of natural gas is flared. Each month, it is reported that around two-thirds of the gas flared in North Dakota is at wells that lack the infrastructure for keeping up with on-site production. Since 2000, total flared gas has doubled in the United States, and data from the World Bank shows it increased 223% to 251 billion cubic feet between 2007 and 2011.

It is here that Well Power has an innovative solution to the growing problems caused by gas flaring. In collaboration with ME Resource Corp., Well Power is offering the mobile and scalable Micro Refinery Unit (MRU), which can be deployed close to wellheads for processing waste natural gas into clean power and engineered fuels, including no-sulphur diesel and diluents. Proprietary technology enables this system to be transferred from site-to-site with overall minimal capital expenditure. Well Power holds licensing rights for the MRU in Texas as well as the first right of refusal for the other U.S. states.

On top of the MRU, Well Power intends to offer a full suite of complementary services. These offerings will include: full-service engineering, design, construction, modular fabrication, maintenance, and construction management services. The company will also provide other value-laden services spanning consulting services, process assessments, facility appraisals, feasibility studies, technology evaluations, project finance structuring and support, and multi-client subscription services.

As this hotbutton issue grows and captures more attention from the public, oil and gas industry players, policy-makers, and more, Well Power is working to bring this innovative, clean energy solution forward as an economical alternative to the costly process of flaring excess gas. It is anticipated that the deployment of the first test unit will come at some point later this year.

For more information, visit: www.wellpowerinc.com

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