The natural gas that’s
wasted each year through flaring at global production sites is equivalent to
the emissions from 70 million cars, according to a recent report from EcoWatch.
Environmentalists around the globe are coming together as the natural gas production
industry continues to waste an estimated 140 billion cubic meters of gas every
year as a result of dated, inefficient production methods. Well Power, Inc.
(OTCQB: WPWR), through a proprietary technological solution to the flaring
issue, is in a great position to capitalize on the growing global health and
climate concerns.
Well Power’s Micro
Refinery Unit (MRU) is designed to dramatically reduce harmful CO2 emissions
while creating significant revenue streams by turning excess natural gas into a
source of Green Fuel and clean power. The company’s MRU is scalable, modular,
mobile and cost effective, making it a viable solution for gas production
companies around the globe. Currently, Well Power has secured the licensing
rights to its revolutionary technology in Texas, as well as first right of
refusal in all other U.S. states.
The company’s potential
for growth is seemingly limitless, as the global energy production market, as
well as governmental and environmental agencies, looks for feasible solutions
to the industry’s massive wastes.
The call for change can be
seen clearly in North Dakota, home of the massive drilling hub surrounding the
Bakken formation. In recent weeks, state senate hearings have focused on the
high amounts of natural gas currently being flared into the atmosphere.
According to State Senator Jim Dotzenrod, as much as 24 percent of the produced
natural gas is currently being wasted through flaring practices.
The Bakken formation’s
numbers are hardly an anomaly. Gulf News recently reported that more than 700
million cubic feet of gas is flared each day in Iraq, which has an approximate
annual value of $1.8 billion.
The global oil and gas
industry is being put under the microscope in brand new ways, and inefficient
production methods are being contested daily by environmentalists, politicians
and investors. With its cost efficient, mobile MRU, Well Power is currently
positioned on the cutting edge of a massive global shift in drilling
techniques. As both domestic and international drilling firms search for more
efficient ways to process excess gas, the company’s growth potential could be
effectively limitless.
For more information,
visit www.wellpowerinc.com
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