Zefiro Methane Corp., which plugs orphaned and abandoned oil and gas wells in North America to create carbon credits, has pre-sold some of the portfolio to trader Mercuria Energy America LLC. 

Zefiro’s current projects include plugging abandoned or orphaned wells in the Appalachian Basin and Texas-Louisiana-Mississippi Salt Basins.

“For too long, investors have not had routine access to reduction activities that display proven pathways to reducing harmful oil and gas emissions,” said Mercuria Energy’s Adam Raphaely, managing director for Trading. The transaction with Zefiro allows Mercuria to align “with the core principles of many of our customers,” while also “fostering innovative projects.”

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