Well Power, Inc. (WPWR) Positioned to Benefit from
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Posted On: 05/11/2015 4:53:10 PM
Well Power, Inc. (WPWR) Positioned to Benefit from Potential Gas Flaring Regulation Reform
The focus on the wasteful process of gas flaring continues to gain steam in both the private and public sectors. In addition to recently announced agreements from 25 major oil companies and oil producing nations to end the practice at drilling locations around the globe by 2030, UPI reports that democrats from both the House and Senate issued a letter to U.S. Interior Secretary Sally Jewel urging more strict regulations on flaring wastes.
“Eliminating this waste not only would reduce greenhouse gas emissions equal to removing some 3.1 million cars from the road,” the letter read, “but would generate $23 million annual for the [federal government]. “
The push for regulatory changes could spell massive growth opportunities for Well Power, Inc. (OTCQB: WPWR), as the company prepares to commercialize a scalable, mobile and cost efficient way to utilize unwanted natural gas. Through an exclusive licensing arrangement with Canada-based ME Resource Corp., Well Power is currently completing a prototype Micro-Refinery Unit (MRU) that will provide oil and gas producers with an economically viable solution to currently wasted natural gas deposits.
“If no serious costs are imposed by the state for flaring,” the letter continued, “the competitive nature of the industry encourages companies to flare in order to maximize current income at the expense of future energy supplies and future global warming.”
While developing the proper infrastructure to transport excess natural gas to market isn’t always feasible from an economic perspective, Well Power’s MRU solution give the industry more incentive to eliminate the flaring practice. Utilizing the high-yield unit, drilling companies will be able to transform undervalued gas into a variety of more valuable end products, including engineered fuels, electric power and heat. This provides the potential for significant savings on top of the obvious environmental benefits.
According to the Railroad Commission of Texas, approximately 1.3 percent of all gas produced in the state is currently being wasted through flaring practices. This is largely as a result of current flaring regulations, which allow for the issuance of flaring permits for up to 180 consecutive days in some cases. By producing a more fiscally practical method of dealing with this waste, Well Power opens the door for significant growth in the years to come. As the company’s MRU approaches commercialization, it’s an exciting time for investors of Well Power.
For more information, visit www.wellpowerinc.com
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
The focus on the wasteful process of gas flaring continues to gain steam in both the private and public sectors. In addition to recently announced agreements from 25 major oil companies and oil producing nations to end the practice at drilling locations around the globe by 2030, UPI reports that democrats from both the House and Senate issued a letter to U.S. Interior Secretary Sally Jewel urging more strict regulations on flaring wastes.
“Eliminating this waste not only would reduce greenhouse gas emissions equal to removing some 3.1 million cars from the road,” the letter read, “but would generate $23 million annual for the [federal government]. “
The push for regulatory changes could spell massive growth opportunities for Well Power, Inc. (OTCQB: WPWR), as the company prepares to commercialize a scalable, mobile and cost efficient way to utilize unwanted natural gas. Through an exclusive licensing arrangement with Canada-based ME Resource Corp., Well Power is currently completing a prototype Micro-Refinery Unit (MRU) that will provide oil and gas producers with an economically viable solution to currently wasted natural gas deposits.
“If no serious costs are imposed by the state for flaring,” the letter continued, “the competitive nature of the industry encourages companies to flare in order to maximize current income at the expense of future energy supplies and future global warming.”
While developing the proper infrastructure to transport excess natural gas to market isn’t always feasible from an economic perspective, Well Power’s MRU solution give the industry more incentive to eliminate the flaring practice. Utilizing the high-yield unit, drilling companies will be able to transform undervalued gas into a variety of more valuable end products, including engineered fuels, electric power and heat. This provides the potential for significant savings on top of the obvious environmental benefits.
According to the Railroad Commission of Texas, approximately 1.3 percent of all gas produced in the state is currently being wasted through flaring practices. This is largely as a result of current flaring regulations, which allow for the issuance of flaring permits for up to 180 consecutive days in some cases. By producing a more fiscally practical method of dealing with this waste, Well Power opens the door for significant growth in the years to come. As the company’s MRU approaches commercialization, it’s an exciting time for investors of Well Power.
For more information, visit www.wellpowerinc.com
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
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