According to a report from National
Geographic, the Obama administration recently announced measures to significantly
slash U.S. emissions of methane gas produced by the oil and gas industry. The
potent greenhouse gas is often intentionally released directly into the
atmosphere or ignited, particularly in areas where transport to the market
isn’t feasible from a financial perspective. Well Power, Inc. (OTCQB: WPWR),
through its exclusive licensing agreement for a scalable Micro-Refinery Unit
(MRU), is focused on providing the industry with a financially-viable
alternative to the wasteful flaring practices.
Well Power’s MRU is designed to allow
companies operating in the oil and gas industries to turn excess natural gas
into valued end products such as engineered fuels, electric power and heat.
Using a propriety micro-reactor system and a collection of proven commercial
technologies, the company is developing an environmentally-friendly solution to
stranded, shut-in, flared and vented gas.
In a letter to shareholders released in
October, Cristian Neagoe, Chief Executive Officer of Well Power, outlined the
company’s plans of building an MRU prototype before moving forward with
commercialization. When completed, Well Power should be in a strong position to
capitalize on the new environmental mandates throughout the country.
According to reports from the U.S. Energy
Information Administration, gas flaring in the oil and gas production hotbed of
North Dakota peaked in 2014, accounting for over 35 percent of total natural
gas production throughout the state. With the White House aiming for a decrease
of 40 to 45 percent in the next ten years, the market for new technologies that
make use of excess natural gas is at an all-time high.
As Well Power approaches
commercialization of its revolutionary MRU, look for the company to encounter
opportunities for significant growth in the years to come. With the oil and gas
industry on the edge of noteworthy, government-mandated environmental reform,
Well Power is strategically positioned to capitalize on the changing market and
provide a substantial boost to its overall market share.
For more information, visit
www.wellpowerinc.com
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