Well Power, Inc. (OTCQB: WPWR) is preparing to revolutionize
the oil and gas industry through the continued development of its innovative
micro refinery unit (MRU). The MRU is an assembly of proven commercial
technologies with a proprietary micro-reactor system designed to address the
massive global waste currently associated with natural gas flaring. The company
has already secured exclusive licensing rights for this platform in Texas, as
well as first right of refusal for the remaining states, from Canada-based ME
Resource Corporation.
According to a report by the Railroad Commission of Texas,
approximately 0.8 percent of natural gas produced in the state is wasted via
flaring or venting practices. With an average of 19.7 billion cubic feet of
natural gas produced in Texas each day, this wasted product is a significant
concern from both economic and environmental perspectives.
Economically, gas flaring is a result of the significant
expense and scheduling impact required to install the necessary infrastructure
to transport natural gas to market. Well Power’s MRU addresses this issue by
allowing for on-site utilization of undervalued gas, effectively transforming
it into a selection of valued end products, including electric power, heat and
engineered fuels.
Environmentally, the impact of flared gas is a growing
concern for legislators around the globe. In the Bakken formation of North
Dakota, an estimated two million tons of carbon dioxide are released into the
atmosphere annually as a result of flared gas. In addition to effectively
minimizing this waste, Well Power’s MRU is expected to provide oil and gas
producers with an energy efficient method to generate vital resources.
Moving forward, the company will continue to push toward the
completion of its MRU prototype and future commercialization of its MRU
technology in the extensive oil and gas industry of Texas. For prospective
investors, this progress, in addition to recent regulatory focus on the
wastefulness of gas flaring, could provide a strong platform for sustainable
returns in the years to come.
For more information, visit www.wellpowerinc.com
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