Technology To Reduce Natural Gas Flaring At Remote Bakken Sites On Schedule -- October 3, 2015

Some folks might remember this post from just a couple of weeks ago:

American Power Group Corporation announced today that its Trident NGL Services Division has secured its second flare capture services relationship with one of the largest oil companies in the world whose identity has not been disclosed due to non-disclosure and competitive reasons.

APG's Trident Services Division will be up-fitting two of the customer's well sites with Trident's Modular Flare To Fuel™ Capture and Recovery System in the North Dakota Bakken oil and gas region.

Installation of both systems is scheduled to occur in the next thirty to sixty days allowing Trident to begin monetizing the captured flare by converting the gas to saleable Natural Gas Liquids (NGL).

Here's the update -- press release (there seems to be something missing in third paragraph from the press release (see below, it almost looks like the press release was drafted before the commission met):

American Power Group Corporation announced today that its Trident NGL Services Division is on schedule for an October installation of its latest Modular Flare To Fuel™ Capture and Recovery System.

This milestone will mark the third Trident Natural Gas Liquids system to be deployed on remote well sites for two of the top oil and gas companies in the Bakken Region of North Dakota.

Last week the North Dakota Industrial Commission rejected a requested two year delay in meeting tougher 2016 flare requirements and established the following revised requirements for the capture of well site associated gases:

Something missing at this point from the press release? Also, this seems at odds from what I understood the Commission to have actually done. Maybe I'm misreading something, but clearly something is missing from the press release. The press release goes on:

The Commission also passed a gas capture credit system, crediting oil & gas companies who have exceeded their capture goals with up to ninety (90) days of credit if they were to fall below future goals.

APG's proprietary Trident NGL capture and recovery process is the emerging leader in capturing and converting a higher percent of the gases at these remote and stranded well sites with its mobile and modular design when compared to other competitive capture technologies that cannot currently meet the 80% to 91% capture regulations.

And again, the CEO's statement seems contradictory to what the commission did but maybe I misread it:

Lyle Jensen, CEO of American Power Group stated, "Last week's unanimous vote by the North Dakota Industrial Commission to retain, and in some cases, accelerate or increase the percentage of flare capture sends a strong signal to the industry that investment in both mid-stream gas gathering pipelines and options to capture associated gases on remote and stranded well sites have become an important priority.

The Bakken region has an estimated 2,500 well sites classified as remote or stranded where we intend to initially market and expand our Flare to Fuel™ capabilities."  

For me, regardless of new/old requirements regarding flaring, this is a nice update regarding technology to manage flaring at remote sites.