Gas flaring is one of the most challenging energy and environmental
problems facing the world today. Each year, approximately 150 billion cubic
meters of natural gas are flared around the world, effectively wasting about
five percent of global gas production. The problem goes beyond wasted energy,
however, as the flaring processes also contribute about 400 million metric tons
of carbon dioxide equivalent global greenhouse gas emissions. Well Power, Inc.
(OTCQB: WPWR), through its licensing arrangement with ME Resource Corp., is
closing in on a way to turn this waste into one of the world’s greatest energy
and environmental success stories in the coming years.
Through the continued development of its prototype Micro
Refinery Unit (MRU), Well Power is creating a better solution for processing
unwanted natural gas. Using proprietary technologies, the MRU is designed to
provide the oil and gas industry with a financially viable solution to
undervalued natural gas deposits. The unit is flexible, scalable, modular and
fully mobile, meaning that it has the potential to reach oil fields in areas
where the transport of natural gas to market simply isn’t feasible. Instead,
the MRU can transform these natural gas deposits into a variety of valued end
products – including Engineered Fuels, electric power and heat – on-site, through
cost-effective and environmentally friendly processes.
Currently, Well Power has exclusive licensing rights for the
MRU in the state of Texas, with first right of refusal for the remaining
states. That gives the company significant opportunity to grow when its
prototype unit is completed and ready for market. With a current pipeline
shortage in rural South Texas, the Eagle Ford Shale is one of the country’s
biggest hotspots for gas flaring, according to a report by the San Antonio
Express-News. Pipelines, the principle method of transporting natural gas to
market, are a costly and time-intensive endeavor, which increases the potential
demand for Well Power’s unique system.
“When they have to move into a booming area, [installing
pipelines] takes a while,” stated James Mann, a Texas attorney that specializes
in pipeline cases. “You have to find welders. You have to see if a construction
company is available. The schedule is filled with things that the pipeline
company may have no control over.”
In one example, flaring was used while waiting for a nearby
processing plant and pipeline to be constructed. Before the infrastructure was
completed in January 2014, a total of 245 million cubic feet of natural gas had
been flared on the property, and this case is far from an isolated incident.
Through the development of a mobile solution to the gas flaring crisis, Well
Power is creating a better method of enduring delays in pipeline construction.
As the company continues towards marketization of its proprietary system, look
for Well Power to make a significant impact on the booming oil market of the
Lone Star State in the years to come.
For more information, visit www.wellpowerinc.com
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