$WPWR Well Power, Inc. (WPWR) Offers Comprehensive Solution to Growing Gas Flaring Concerns Worldwide WPWR
When oil is produced, associated gas is also produced from the reservoir together with the oil. A large amount of this gas is used due to the fact governments and oil companies have made sizeable investments to capture it. As a result, some of it is flared because of technical, regulatory, or economic constraints. Subsequently, thousands of gas flares at oil production sites worldwide burn in the range of 140 billion cubic meters of natural gas per year resulting in more than 300 million tons of CO2 getting pushed into a once pristine atmosphere.
Gas flaring is an adverse component in climate change and impacts the environment through emission of black carbon, CO2 and a myriad of other pollutants. It also wastes a valuable energy resource that could be used to advance the sustainable development of producing countries. For example, if this amount of gas were used for power generation, it could provide about 750 billion kWh of electricity, which amounts to more than the African continent’s current annual electricity consumption.
Well Power (OTCQB: WPWR) is focused on ways it can help curb gas flaring, a gnawing and growing problem in the United States. As evidence of its endeavors, the company has acquired an exclusive license to distribute ME Resources’ micro refinery unit (MRU) and has been persistent in promoting this flare-reducing technology to interested investors.
The company is active in adding talented, human capital its operations. Earlier this year, WPWR increased the seats on its board of directors to include Robert V. Shields. Mr. Shields’ impressive skill set is derived from entrepreneurship, professional engineering of more than three decades as well as tenure within the petroleum industry veteran. Specifically, Mr. Shields’ petroleum industry experience comes from the economic evaluations, drilling, production operations, and identifying and securing international exploration mineral leases.
Well Power is a development stage company that focuses on distributing micro-refinery units in Texas and internationally. The company intends to provide oil and gas producers solutions to process wasted natural gas, including stranded, shut-in, flared, and vented gas; and produce engineered fuel and electrical power.