QualityStocks would like to highlight
Well Power Inc. (
OTCQB: WPWR). The company has secured the licensing rights to Texas with the first right of refusal on the other US states to a new technology solution to process waste natural gas, such as vented, flared or stranded gas, into “clean power” and engineered fuels, including no-sulphur diesel and diluents. Based on proprietary technology, this solution is mobile, high-yield and can be deployed with minimum capital expenditure.
In the company’s news,
Well Power uses proprietary, mobile technology that can be deployed with minimal capital expense to process waste natural gas, such as vented, flared or stranded gas into “clean power” and engineered fuels. The license will allow Well Power to provide its technology with full-service engineering, design, construction, modular fabrication, maintenance and construction management services to clients in the demanding areas of exploration and production. Other noteworthy offerings include consulting services, process assessments, facility appraisals, feasibility studies, technology evaluations, project finance structuring, and multi-client subscription services.
In partnership developing economical, mobile, and scalable Micro-Refinery Units (MRU’s) to process raw, natural gas into Green Fuel and clean power, Well Power uses this assembly of proven commercial technologies with a proprietary micro-reactor system for hydrocarbon processing and catalytic reactions. This unique system is vital for enabling the MRU to be an economical and transportable solution. MRU’s are flexible, scalable, modular, mobile, cost effective, and energy efficient.
With 5% of global gas production being wasted, gas flaring reduction promises to be a great energy and environmental success story within the next five years. Well Power is on the verge of leveraging its position to be a central player in this arena. For the oil and gas industry, environmental scrutiny is on the rise as a result of recent events like the BP spill in the Gulf of Mexico. Finding the right partnerships to eliminate legacy flaring and minimize new flaring is a chance for the industry to take a leadership role on sustainable resource development and energy efficiency. For producer governments, flare reduction is an opportunity to create value from a wasted resource and enable wider access to energy, improved environmental conditions, and economic development for local populations. Successful efforts to reduce flaring will benefit local communities, provincial and national governments, and the entire planet.
Approximately 2.4 million barrels of oil equivalent is wasted each day by gas flaring alone, resulting in $10 billion of lost revenue and 400 million metric tons of CO2 equivalent global greenhouse gas emissions each year. Further, environmental degradation associated with gas flaring shows indications of having a significant impact on local populations, often resulting in loss of livelihood and severe health issues. Well Power is eager to leverage its market leadership position to provide common-sense solutions to this problem.
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