Houston-based
Well Power has committed itself to curbing the economic and environmental
downsides of gas flaring. In October, the company issued a shareholder letter
which chronicled its progress up to this point. This included an important
update on efforts to commercialize the Wellhead Micro-Refinery Units (MRUs)
being developed.
Industry
processes such as fracking have done wonders for energy resource recovery
efforts. But with the increased activity have come greater amounts of gas
flaring; especially in the United States. According to the World Bank, gas
flaring increased 223% in the United States between 2007 and 2011. This
activity is even more pronounced at the state level. In the resource-rich state
of North Dakota, which has surpassed Alaska as the second-largest oil-producing
state behind Texas, almost one-third of all gas produced last year was flared.
Given that gas flaring is expected to grow, this translates into tremendous
lost revenue opportunities; not to mention the environmental effects to which
gas flaring gives rise.
In its bid
to overcome these challenges, Well Power has been making progress. In the
shareholder letter, the company shared that an area has been chosen to build
the MRU prototype after which commercial units will be modeled. Negotiations
are currently underway to determine a site for prototype unit building and
testing, and process engineers have been tapped for unit design. Meanwhile,
Well Power’s management and consulting team continues to work diligently toward
having the units ready for field testing and implementation.
Given how
much fracking has strengthened production operations – in North Dakota, for
instance, fracking has led to production almost quadrupling in the last four
years, and the expected increase in gas flaring along with it – Well Power has
a tremendous opportunity for profit potential here. With its arrangement with
ME Resource, the company has secured licensing rights for unit distribution in
Texas, and it also has first right of refusal for other U.S. states.
For more
information, visit: www.wellpowerinc.com
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