Well Power Inc. (WPWR) Observes State and Federal
Post# of 77
Posted On: 02/28/2015 10:13:34 AM
Well Power Inc. (WPWR) Observes State and Federal Pressure to Reduce Flaring – Plays to Company’s Strength
Well Power, a development-stage company focused on distributing micro-refinery units in Texas and around the world, is seeing growing pressure from environmental groups at the state and federal levels concerning the sore topic of gas flaring. Analysts within the oil and gas production industry anticipate what they refer to as the forthcoming, increasingly tighter restrictions in an effort to curtail the practice.
Just this month, several new items have become apparent. In North Dakota, a new Senate bill designed to levy taxes and royalties on wasted natural gas within 14 days after a well begins production has been put forth, representing a sharp reduction from the 12 months which companies are currently being afforded.
Wyoming is also watching the introduction of a House bill calling for gas flaring taxes with lost revenues for the state being promoted as a primary justification. North Dakota legislators argue some $11.5 million in gross production tax revenues could be collected if their legislation is passed. In Wyoming’s Powder River Basin, a nearly identical dollar total was flared in the first ten months of 2014 alone, according to analysis by Casper’s Star-Tribune.
Essential to WPWR’s strategic operating position in the market, the company leverages its license to integrate technologies such as the Micro-Refinery Unit (MRU) system developed by Canada-based ME Resource Corp. The MRU technology, a unique combination of proven commercial technologies and a proprietary micro-reactor system to handle the hydrocarbon processing and catalytic reactions, converts flared, stranded, or vented gas into either on-site clean electricity, or readily saleable Engineered Fuels™ like diluents, no-sulfur drop-in diesel, and pipeline-quality synthetic crude.
Well Power focuses on distributing micro-refinery units in Texas and internationally. The company also intends to provide oil and gas producers and operators a solution to process wasted natural gas, including stranded, shut-in, flared, and vented gas; and produce engineered fuel and electrical power.
For more information on the company, visit www.wellpowerinc.com
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
Well Power, a development-stage company focused on distributing micro-refinery units in Texas and around the world, is seeing growing pressure from environmental groups at the state and federal levels concerning the sore topic of gas flaring. Analysts within the oil and gas production industry anticipate what they refer to as the forthcoming, increasingly tighter restrictions in an effort to curtail the practice.
Just this month, several new items have become apparent. In North Dakota, a new Senate bill designed to levy taxes and royalties on wasted natural gas within 14 days after a well begins production has been put forth, representing a sharp reduction from the 12 months which companies are currently being afforded.
Wyoming is also watching the introduction of a House bill calling for gas flaring taxes with lost revenues for the state being promoted as a primary justification. North Dakota legislators argue some $11.5 million in gross production tax revenues could be collected if their legislation is passed. In Wyoming’s Powder River Basin, a nearly identical dollar total was flared in the first ten months of 2014 alone, according to analysis by Casper’s Star-Tribune.
Essential to WPWR’s strategic operating position in the market, the company leverages its license to integrate technologies such as the Micro-Refinery Unit (MRU) system developed by Canada-based ME Resource Corp. The MRU technology, a unique combination of proven commercial technologies and a proprietary micro-reactor system to handle the hydrocarbon processing and catalytic reactions, converts flared, stranded, or vented gas into either on-site clean electricity, or readily saleable Engineered Fuels™ like diluents, no-sulfur drop-in diesel, and pipeline-quality synthetic crude.
Well Power focuses on distributing micro-refinery units in Texas and internationally. The company also intends to provide oil and gas producers and operators a solution to process wasted natural gas, including stranded, shut-in, flared, and vented gas; and produce engineered fuel and electrical power.
For more information on the company, visit www.wellpowerinc.com
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
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