According to a report by Fox
Business, natural gas flaring in one the country’s most active drilling regions
– the Eagle Ford Shale in South Texas – continued to increase in 2014. The
Railroad Commission of Texas reported that more than 20 billion cubic feet of
natural gas were burned in the first seven months of the year, and experts
suggest that the industry has shown little capability of slowing down. Instead,
oil and gas production companies have insisted that there is no feasible
alternative to flaring, but Well Power, Inc. (OTCQB: WPWR) is closing in on an
economically viable solution.
“Gas flaring is a wasteful industry
practice that deserves more attention,” stated Zubin Bamji, an energy and
extractives industry spokesman for the World Bank. “Governments and oil
companies need to work together to identify solutions, whether technical,
regulatory, financial, or a combination of all.”
Through an exclusive licensing
agreement with ME Resource Corp., Well Power gained distribution rights for the
development and commercialization of Micro-Refinery Units (MRUs) throughout the
Lone Star State. The technology behind the MRU could provide drilling companies
with a financially sound alternative to the wasteful practice of flaring. The
scalable unit converts undervalued gas, including flared gas, into more
valuable end products on-site, without the need for time-intensive
infrastructure installation.
As of Well Power’s latest quarterly
report, development is underway, with the first MRU expected to be completed
within a year. The company expects to obtain financing, select an applicable
site and begin construction of the unit by the end of the calendar year. The
prototype MRU is expected to be fully transportable, providing the company with
the opportunity to work with oil and gas landowners and operators to showcase
the prototype and promote future sales.
“[The] Well Power management and
consulting team are diligently working towards getting units tested and built
for the field,” stated Cristian Neagoe, Chief Executive Officer of Well Power.
Well Power’s MRU design is flexible,
scalable, modular, mobile, cost effective, energy efficient, high yield, single
vessel, skid mounted and custom configured. With increasing regulatory
attention on gas flaring, the company is in a strong strategic position to
capitalize on the industry’s evolving landscape. As Well Power continues to
navigate the hurdles involved with the construction and commercialization of
its technology, it is an exciting time for investors of this growing company.
For more information, visit
www.wellpowerinc.com
About QualityStocks
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to find, evaluate, and learn more about investing in these companies.
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to find, evaluate, and learn more about investing in these companies.
Sign up for “The QualityStocks Daily Newsletter” at www.QualityStocks.net
The Quality Stocks Daily Blog http://blog.qualitystocks.net
The Quality Stocks Daily Videos http://videocharts.qualitystocks.net
The Quality Stocks “Ones to Watch” http://gotstocks.qualitystocks.net
Please see disclaimer on the QualityStocks website: http://disclaimer.qualitystocks.net
No comments:
Post a Comment