Well Power, Inc. (WPWR) Micro-Refinery Unit Techno
Post# of 77
Posted On: 03/23/2015 6:15:04 PM
Well Power, Inc. (WPWR) Micro-Refinery Unit Technology Needed to Offset Impact of Looming Emission Regulations, Maintain Energy Independence
Well Power has exclusive rights to license a proprietary single vessel Micro-Refinery Unit (MRU) technology for the state of Texas (as well as first right of refusal in the remaining states), which promises to turn flared, shut-in, stranded, vented, or otherwise wasted raw natural gas at petroleum drilling sites into value-added end products like diluents, on-site electricity, low sulfur drop-in diesel, and pipeline-quality synthetic crude. This skid mounted, component architecture system is designed to have its overall configuration customized on a site-by-site basis. The MRU represents a cost effective, easily integrated, flexible, high-yield, modular, scalable and readily transportable solution for turning waste gas (which is more and more likely to become a major capital sink for oil developers as new emission regulations come down the pipe), straight into savings and/or profit, right at the wellhead.
Assembled from already commercially proven technologies, the Well Power MRU system’s core component is a unique, proprietary micro-reactor designed to perform the necessary catalytic reactions, allowing the overall system to be both highly economical and highly mobile. This platform is ideal for processing gas into saleable fuel or useable electricity and the platform can also harness the same heat used to generate electricity for immediate combined heat and power (CHP) applications. Able to handle large gas flows ranging from 75 Mcf, up to as much as 250 Mcf, the MRU is able to rapidly condition and convert methane and condensates into syngas, before performing a chemical Fischer-Tropsch process in order to condense the gas into liquid. The natural byproduct of the exothermic and combustion reactions is salvageable heat, which can be converted directly into electricity or used for CHP.
Given already tight restrictions on gas flaring statewide in Texas, imposed via The Railroad Commission of Texas’ Rule 32 requirements, which allow flaring only by costly permits after an initial 10-day grace period following well completion, a solution like the MRU is just the ticket for the state’s numerous operators to potentially save money and generate additional revenue streams at the same time. The majority of permitting is for flaring casinghead gas produced at oil wells, where either the necessary regional gas pipeline infrastructure is lacking, or where tie-ins have yet to be completed. This is especially taxing for smaller wildcat operators who often get caught in the bite by a mixture of difficult logistics, time constraints, and permitting fees.
With a total domestic rig count of 1,069 as of March 20 according to RigData, 43.5% of which is in Texas (465), where over 900 million barrels oil crude oil and nearly 2 billion Mcf of casinghead gas was produced last year, the market for WPWR’s technology is indeed considerable. Moreover, the recent forward momentum created by the Obama Administration on the Climate Action Plan is a clear shot across the bow of the petroleum industry, with aims to achieve an overall methane emission reduction from the oil and gas industry over the next decade by as much as 45% (from 2012 levels). Subsequent regulatory changes will likely mean steep fees and fines on flaring that are likely to demolish many of the smaller players, while cutting deeply into the profitability of the majors.
Until the advent of such technologies as WPWR’s MRU, the horizon looked pretty grim for the industry when facing such daunting regulatory changes. But with Well Power in prototyping as of October last year, things are now looking up, especially for the little guys, who may soon be able to roll out cost-effective MRUs and keep pace with the broader industry. With emissions from the oil and gas industry set to rise by roughly 25% over the next decade, the goals set by the Obama Administration are seemingly impossible to hit without some kind of technology like the MRU coming into play. Otherwise the U.S. potentially stands to lose the title gained last year of the world’s biggest oil producer and our independence from foreign oil may hang in the balance as well.
Visit the company’s website to learn more: www.wellpowerinc.com
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
Well Power has exclusive rights to license a proprietary single vessel Micro-Refinery Unit (MRU) technology for the state of Texas (as well as first right of refusal in the remaining states), which promises to turn flared, shut-in, stranded, vented, or otherwise wasted raw natural gas at petroleum drilling sites into value-added end products like diluents, on-site electricity, low sulfur drop-in diesel, and pipeline-quality synthetic crude. This skid mounted, component architecture system is designed to have its overall configuration customized on a site-by-site basis. The MRU represents a cost effective, easily integrated, flexible, high-yield, modular, scalable and readily transportable solution for turning waste gas (which is more and more likely to become a major capital sink for oil developers as new emission regulations come down the pipe), straight into savings and/or profit, right at the wellhead.
Assembled from already commercially proven technologies, the Well Power MRU system’s core component is a unique, proprietary micro-reactor designed to perform the necessary catalytic reactions, allowing the overall system to be both highly economical and highly mobile. This platform is ideal for processing gas into saleable fuel or useable electricity and the platform can also harness the same heat used to generate electricity for immediate combined heat and power (CHP) applications. Able to handle large gas flows ranging from 75 Mcf, up to as much as 250 Mcf, the MRU is able to rapidly condition and convert methane and condensates into syngas, before performing a chemical Fischer-Tropsch process in order to condense the gas into liquid. The natural byproduct of the exothermic and combustion reactions is salvageable heat, which can be converted directly into electricity or used for CHP.
Given already tight restrictions on gas flaring statewide in Texas, imposed via The Railroad Commission of Texas’ Rule 32 requirements, which allow flaring only by costly permits after an initial 10-day grace period following well completion, a solution like the MRU is just the ticket for the state’s numerous operators to potentially save money and generate additional revenue streams at the same time. The majority of permitting is for flaring casinghead gas produced at oil wells, where either the necessary regional gas pipeline infrastructure is lacking, or where tie-ins have yet to be completed. This is especially taxing for smaller wildcat operators who often get caught in the bite by a mixture of difficult logistics, time constraints, and permitting fees.
With a total domestic rig count of 1,069 as of March 20 according to RigData, 43.5% of which is in Texas (465), where over 900 million barrels oil crude oil and nearly 2 billion Mcf of casinghead gas was produced last year, the market for WPWR’s technology is indeed considerable. Moreover, the recent forward momentum created by the Obama Administration on the Climate Action Plan is a clear shot across the bow of the petroleum industry, with aims to achieve an overall methane emission reduction from the oil and gas industry over the next decade by as much as 45% (from 2012 levels). Subsequent regulatory changes will likely mean steep fees and fines on flaring that are likely to demolish many of the smaller players, while cutting deeply into the profitability of the majors.
Until the advent of such technologies as WPWR’s MRU, the horizon looked pretty grim for the industry when facing such daunting regulatory changes. But with Well Power in prototyping as of October last year, things are now looking up, especially for the little guys, who may soon be able to roll out cost-effective MRUs and keep pace with the broader industry. With emissions from the oil and gas industry set to rise by roughly 25% over the next decade, the goals set by the Obama Administration are seemingly impossible to hit without some kind of technology like the MRU coming into play. Otherwise the U.S. potentially stands to lose the title gained last year of the world’s biggest oil producer and our independence from foreign oil may hang in the balance as well.
Visit the company’s website to learn more: www.wellpowerinc.com
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
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