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:
The natural gas that’s wasted each year through flaring at global production sites is equivalent to the emissions from 70 million cars, according to a recent report from EcoWatch. Environmentalists around the globe are coming together as the natural gas production industry continues to waste an estimated 140 billion cubic meters of gas every year as a result of dated, inefficient production methods. Well Power, Inc. (OTCQB: WPWR), through a proprietary technological solution to the flaring issue, is in a great position to capitalize on the growing global health and climate concerns.
Well Power’s Micro Refinery Unit (MRU) is designed to dramatically reduce harmful CO2 emissions while creating significant revenue streams by turning excess natural gas into a source of Green Fuel and clean power. The company’s MRU is scalable, modular, mobile and cost effective, making it a viable solution for gas production companies around the globe. Currently, Well Power has secured the licensing rights to its revolutionary technology in Texas, as well as first right of refusal in all other U.S. states.
The company’s potential for growth is seemingly limitless, as the global energy production market, as well as governmental and environmental agencies, looks for feasible solutions to the industry’s massive wastes.
The call for change can be seen clearly in North Dakota, home of the massive drilling hub surrounding the Bakken formation. In recent weeks, state senate hearings have focused on the high amounts of natural gas currently being flared into the atmosphere. According to State Senator Jim Dotzenrod, as much as 24 percent of the produced natural gas is currently being wasted through flaring practices.
The Bakken formation’s numbers are hardly an anomaly. Gulf News recently reported that more than 700 million cubic feet of gas is flared each day in Iraq, which has an approximate annual value of $1.8 billion.
The global oil and gas industry is being put under the microscope in brand new ways, and inefficient production methods are being contested daily by environmentalists, politicians and investors. With its cost efficient, mobile MRU, Well Power is currently positioned on the cutting edge of a massive global shift in drilling techniques. As both domestic and international drilling firms search for more efficient ways to process excess gas, the company’s growth potential could be effectively limitless.
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