Texas oil and natural gas regulators have surpassed legislative targets for fiscal year (FY) 2023, which included plugging 75% more orphaned wells than required with the support of federal funding. The Texas legislature sets annual targets for the Railroad Commission of Texas (RRC) to carry out a certain number of pipeline inspections and wellhead inspections,…
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Tulsa’s Rebellion, Legacy Well Plugging Specialist, Snags Grey Rock Investment
Private equity (PE) firm Grey Rock Investment Partners has agreed to invest in Rebellion Energy Solutions, a Tulsa-based specialist in decommissioning legacy oil and gas wells. “Grey Rock believes there is an underserved market of opportunities in the oil and gas well remediation space to offer near term solutions for positive environmental impacts,” said Grey…
Idle Oil, Natural Gas Wells Said to Need Proper Monitoring, Maintenance
The Interstate Oil and Gas Compact Commission (IOGCC) recently released its latest counts of documented idle and orphan oil and gas wells in the United States and Canada. “Many idle wells have potential for future oil or gas production or associated uses,” stated IOGCC. “If not properly monitored and maintained, however, they may pose a…
Appalachia NGL Feedstock Looking to Support Region’s Petrochemical Growth In 2022
A long awaited petrochemical project is set to begin operations in the Appalachian Basin in 2022, and a second major investment in the region could get the green light this year.
BC Faces Growing Backlog of Orphan Natural Gas Well Cleanups After Ranch Energy Failure
A two-year corporate bankruptcy case has resulted in a 110% jump in discarded orphan natural gas wells and production facilities awaiting cleanups, according to the British Columbia Oil and Gas Commission (BCOGC). A court-supervised distress auction in the province only sold 414 sites or one-half the BC assets of defunct Ranch Energy Corp. to Erikson…