Well Power, Inc. (WPWR) Prepares to Provide a Better Solutio Well Power, Inc. (WPWR) Prepares to Provide a Better Solution to Undervalued Natural Gas
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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