Page 16 - NorthAmOil Week 29 2021

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Completion Services, LLC (ECS) and Nations Oil and Gas New Energy Freedom
Chaparral Rental Services, LLC (CRS),
onshore and offshore rental suppliers for Methane Partnership and refinery to produce
the oil & gas industry. Founded in 2013,
ECS provides safe and dependable pressure scheduled to achieve a Gold carbon-negative fuel from
control for both onshore and offshore wireline
projects, as well as hydraulic latch assemblies Standard emission rating America’s ag wastes
(HLA). Going forward, both entities will
operate under the ECS name. Jonah Energy has taken the industry-leading New Energy Blue announced its planned
With the acquisition, Tim Ping will join step of becoming the first US oil and gas construction in Iowa of a biomass refinery
ECS as chief executive officer. Mr. Ping has producer to submit methane emissions data designed to produce renewable carbon-
served in various positions for more than and is on track to earn a “Gold Standard” negative automotive fuel, which replaces
40 years in the oil country tubular goods emissions rating from the United Nations- gasoline.
(OCTG) distribution business. “I am excited sponsored Oil and Gas Methane Partnership “Our Iowa project can keep 1mn tons of
to join ECS as we venture into this new (OGMP). Jonah Energy was also the first US CO2 out of the atmosphere every year–like
chapter for the company. As part of the K-Solv company to join OGMP in late 2020. taking 200,000 cars off the road,” says Thomas
Group, we anticipate growing the business The Oil and Gas Methane Partnership Corle, CEO. “Future refineries are expected to
with the synergies created between the (OGMP) is an initiative launched by the be twice the size of the first.”
companies. We look forward to the challenges UN Environment Programme and the The company is developing New Energy
ahead.” Tim Ping, CEO ECS. Climate and Clean Air Coalition as the only Freedom biomass refinery on a 155-acre site
“The acquisition of ECS complements our broad multi-national and multi-stakeholder near Mason City, Iowa. 275,000 tons of crop
full suite of K-Solv Group service offerings, partnership working on methane emissions residue (cornstalks and wheat straw) will be
adding to our capacity and geographic measurement and reporting protocols. OGMP locally sourced, then converted into 20mn
presence. We see this as an opportunity to creates a credible platform to help member gallons of cellulosic ethanol and 95 tons of
expand our existing energy sector services and companies demonstrate actual emission lignin, a solid biofuel and natural binder. Half
welcome ECS into the K-Solv Group,” said reductions. the greenhouse-gas reduction comes from
Russell Allen, CEO and Owner of the K-Solv OGMP’s Gold Standard rating is replacing petroleum products, the other half
Group. predicated on establishing a pathway to from sequestering soil carbons through best
THE K-SOLV GROUP, July 21, 2021 verified emissions measurement at both a farming practices.
source and an overall site level. Measurement “Our cellulosic fuel can exceed California’s
is conducted with a variety of technologies, Low Carbon Fuel Standard policy and its
MOVES including ground-based fixed measurement rigorous air quality requirements,” says
devices, drone-based sensors, aerial laser Corle. “Other states continue to adopt similar
MEG Energy announces scanning, and satellite-based asset-wide policies, which drive the growing global
measurement. These tools provide a far more
demand for carbon-negative transportation
$100mn debt repayment accurate accounting of a company’s emissions fuels.”
profile, allowing for continuous reduction and
Strong demand is also expected for the
MEG Energy announced today that it has elimination of emission sources. refinery’s lignin. Produced by a clean process,
issued a notice to redeem $100mn aggregate “We believe that natural gas will play an it can replace oil-derived bitumen as the
principal amount of its 6.50% senior secured important role in the reduction of greenhouse binder in asphalt. “A greener way to pave
second lien notes due 2025 at a redemption gas emissions from the global energy value roads and shingle roofs,” Corle says.
price of 103.25%, plus accrued and unpaid chain, but the industry must be transparent Besides being one of America’s first
interest to, but not including, the redemption for natural gas to achieve its full potential,” carbon-negative refineries, New Energy
date. The redemption is expected to be said Tom Hart, Jonah Energy’s president Freedom represents the first large-scale use
completed on or about August 23, 2021. and CEO. “The OGMP 2.0 framework is the of Inbicon bioconversion technology outside
Inclusive of the redemption, MEG will have leading example of an independent, verifiable of Denmark. New Energy Blue’s team is a
redeemed $354mn of the original $750mn and measured performance standard that will spin-off of the technology’s development.
principal balance of the Second Lien help create that transparency.” The company purchased exclusive rights to
Notes, leaving $396mn principal balance “Jonah Energy’s participation in OGMP license and build-out refineries from Ørsted
outstanding. 2.0 is just one component of our Responsibly in 2019. Freedom’s CapEx is about $200mn,
MEG ENERGY, July 22, 2021 Produced Gas initiative, which seeks to about the same amount invested in Inbicon’s
make us a leading low emission producer 15-year development. Ørsted built and
and preferred partner for utilities and their operated a demonstration refinery for five
ENERGY TRANSITION customers concerned about the impacts of years, supplying 2G ethanol to Danish petrol
climate change,” Hart continued. stations.
Jonah Energy joins United JONAH ENERGY, July 22, 2021 NEW ENERGY BLUE, July 20, 2021

P16 www. NEWSBASE .com Week 29 22•July•2021