Though
gas flaring creates pollution and bleeds millions of dollars in lost taxes and
royalties, Houston-based Well Power sees the havoc as an incredible
opportunity. As the environmental and economic concerns linked to gas flaring
become more apparent, the demand and need for flare reduction is steadily on
the rise.
Gas
flaring is the burning of natural gas released in oil fracking. Natural gas is
carried through the pipelines along with the flow of crude, but increases in
drilling easily outpace the equipment, supplies, manpower and services needed
to construct gas gathering pipelines. The solution is to flare the gas and
convert the waste methane into carbon dioxide, polluting the air with
carcinogenic toxins such as benzene. The National Oceanic Administration
Association (NOAA) estimates that gas flares pump 400 million tons of carbon
dioxide into the atmosphere worldwide each year – the equivalent of emissions
from 77 million cars. Obviously, gas flaring is linked to adverse impact on
local populations of human and wildlife, often resulting in loss of livelihood
and severe health issues.
Then,
there’s the economics. While gas flaring takes place worldwide, the performance
of oil producers in North Dakota, which flared 96 million cubic feet of natural
gas in 2013, are disturbing. Oil producers in North Dakota are permitted to
flare tax-free during the first year of a well’s operations, which results in
approximately $17 million in lost tax revenue between 2009 and 2012, according
to the Center for Effective Government.
Taking
into consideration these environmental and economic impacts, gas flaring
reduction has the potential to be one of energy and environmental success.
Reducing the amount of flared gas will not only benefit local communities,
provincial and national governments, but also provides opportunity for the
companies offering reduction technologies.
This
is where Well Power steps in. The company has the licensing rights to Texas
with the first right of refusal on the other U.S. states (including North
Dakota) to a new technology solution to process waste natural gas into “clean
power” and engineered fuels. The license will allow Well Power to provide the
Micro Refinery Unit (MRU) technology, along with engineering, design,
construction, maintenance, etc., to clients in the upstream areas of
exploration and production.
The
MRU is flexible, scalable, modular, mobile, cost effective, energy efficient,
high yield, and offers a way to turn waste gas into revenue, making it an
attractive solution to oil and gas companies facing federal and civilian
pressure to reduce gas flaring.
For
more information, visit www.wellpowerinc.com
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