Long, cold winter emphasizes need for energy transition plan
Energy prices skyrocket going into winter as the U.S. energy industry is experiencing another market swing. While there is no clear-cut plan moving forward, there are things that can be done in the near-term.
Once again, the demand for energy is exceeding supply resulting in increased energy prices in the U.S. Demand for energy is up due to several reasons including disruptions in the supply chain, an economy emerging from 18 months of Covid, weather extremes and plan old poor planning. But the main cause may be the decreased investing in oil and gas companies resulting in a supply shortage.
Whenever there is an increase in energy demand, the question ultimately arises on renewables verses oil and gas. According to this recent article from Fareed Zakaria, in the Washington Post, there is no current overall plan for a transition to a renewables-based energy supply. The result is a confusing U.S. energy policy where we are now asking OPEC to increase production when we have some of the world’s largest reserves of oil and gas!
While more domestic drilling will help with supply, we can also look at reducing emissions in the short-term. For example, convert the 5% of older fossil-fuel plants responsible for 73% of emissions. And decrease the 70% of methane leakage from O&G wells that can be stopped by using existing technology.
Renegade is expertly positioned to help stop the methane leakage problem. These flow paths to the surface typically occur in older and abandoned wells and compromise wellbore integrity. This has long plagued oil and gas wells, especially in abandoned wells where methane leaks are common and present an environmental risk. This includes the thousands of ‘orphan’ wells seeping methane that will need to be treated in the future before they are plugged and abandoned.
Local Expander™ technology from Renegade can safely and effectively seal the annulus without damaging the casing and stop methane from escaping to the surface. The key to this innovation is a set of expanding fingers that open outward once the tool is actuated downhole. This unique technology expands the casing into the cement, densifying the cement and blocking the path of any unwanted gas flow.
Renegade Wireline Services is the largest independent provider of cased-hole electric wireline services and is recognized as the premier cased-hole completions service provider in the North American oil and gas industry. Renegade offers professional, experienced personnel with a cased-hole and radioactive tagging focus working in an efficient and safe manner to produce operational excellence and customer satisfaction.