Well
Power is the exclusive license holder of ME Resource Corp.’s (“MEC”) Wellhead
Micro-Refinery Units (MRUs). MEC is creating mobile and scalable MRUs that are
deployable at the wellhead to process the raw natural gas into liquid fuels and
clean power.
Gas
flaring is a method of incinerating impurities in raw natural gas and carbon
dioxide, but without the proper equipment in place, much of the wasted fossil
fuel is expelled directly into the atmosphere. The result is billions of wasted
dollars and a “black eye” for the surrounding environment.
Stemming
from its license with MEC, Well Power is able to distribute the MRUs solution
in the State of Texas, North Dakota and Wyoming, where other growing flared gas
concerns exist. The agreement becomes even more pertinent as the rate of
drilling across these states has long outpaced the equipment, supplies,
manpower and services necessary to construct gas gathering pipelines.
Development
of the MRU is active and ongoing. In a shareholder update this last fall, Well
Power announced that an area has been chosen to build the MRUs prototype unit,
from which the commercial units will be molded, and that process engineers have
been recruited to design the unit and its various components. Validating the
need for such a solution, World Bank data shows that U.S. gas flaring has
increased 223% in the last five years and experts and civilians both have cited
the need to reverse this environmentally detrimental trend.
Well
Power’s plan is to be able to provide its licensed technology in conjunction
with full-service engineering, design, construction, modular fabrication, and
maintenance and construction management services. The company also intends to
offer feasibility studies, consulting services, process assessments, technology
evaluation and project finance structuring to clients in the upstream areas of
exploration and production.
Gas
flaring reduction potentially is an industry ‘game-changer’ for the
environment. WPWR is focused on assembling the right partnerships to eliminate
flaring as well as efforts to lessen new flaring. The challenge offers the
industry an opportunity to take a leadership role on sustainable resource
development and energy efficiency.
For
more information on the company, visit www.wellpowerinc.com
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