There is a
fast-emerging challenge within the global energy industry today, and it poses
not only serious implications for the environmental and human health, but also
tremendous economic downsides. This challenge is gas flaring, or the burning of
excess natural gas in oil fracking. With obstacles posed by industry
regulations, approval processes, lacking pipeline infrastructure, and more,
oilfield operators have found it better to “flare off” this excessive gas at
the wellhead.
On a
global scale, approximately 150 billion cubic meters of natural gas are flared
each year. In terms of wasted resources and lost revenue opportunities, it
represents 2.4 million barrels of oil lost each day, or $10 billion of lost
revenues every year. In turn, that comes out to 23% of the United States’
natural gas use and 5% of global natural gas production. And with the 400
million metric tons of greenhouse gases it produces annually, gas flaring
greatly impacts air quality — which contributes to environmental degradation,
human health issues, and decreases in overall quality of human life.
In the
United States, gas flaring has been increasing, as well. According to recent
data from the World Bank, United States-based gas flaring grew 223% between
2007 and 2011. Furthermore, since 2000 totaled flared gas in the United States
has doubled. In more recent times, fieldwork struggles posed by lacking
infrastructure can be seen in resource-rich states such as North Dakota, where
two-thirds of flared gas is at oil wells which lack the infrastructure for
keeping up with on-site production.
Enter Well
Power, a Houston-based firm with a viable clean energy solution for turning
these issues into footnotes of the past. Well Power is engaged to handle
distribution for the Micro-Refinery Unit (MRU), which will enable the
processing of raw natural gas into clean power and engineered fuels, including
no-sulphur diesel and diluents. The MRU will be deployable close to wellheads
where it can convert excess natural gas into clean energy resource solutions,
and it will be transferable from site-to-site with minimal capital expenditure.
Needless to say, the positive economic and environmental after-effects which
this powerful system is slated to produce will be tremendous. Well Power’s
dedicated partner MEC Resources is the innovator behind this system, and it has
granted Well Power licensing rights for the MRU in Texas as well as the first
right of refusal for other states.
For
investors, Well Power represents a not-often-seen opportunity to be at the
forefront of solving burdensome challenges in mainstream energy, realizing
viable clean energy solutions, and engaging in sustainable resource allocation.
As gas flaring continues to pose these challenges on national and global
scales, Well Power is working diligently to reverse this trend and offer a real
alternative to the current practices used.
For more
information, visit: www.wellpowerinc.com
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