Page 16 - NorthAmOil Week 06 2021

NorthAmOil NEWS IN BRIEF NorthAmOil

explore, will improve the competitiveness of 30 orphaned oil wells in Northern Montana, Both organisations recognise the
our refining system going forward.” while creating a template to expand the WDF significant environmental benefits of
PBF ENERGY, February 11, 2021 model to a much larger scale, according to completing this work: there are currently
WDF founder and Chairman Curtis Shuck. 3.2mn nonproducing oil and gas wells in the
Radicle will underpin the plugging of the US alone, all open and emitting thousands of
SERVICES wells and the restoration of land surrounding metric tonnes of carbon and methane each
them in advance through the sale of carbon year. To put it in perspective, each open well
Radicle and Well Done offsets; the scale of the project will provide can emit as much carbon annually as 1,500
cars.
a template to expand WDF’s mission
Foundation partner to plug throughout North America. As part of the planet better than we found it, and this is why
“At Radicle, we are motivated to leave the
agreement, Radicle will have the exclusive
30 orphaned oil wells in rights to market and sell carbon credits that we partnered with Well Done Foundation,”
fund the WDF’s projects.
Radicle President Alastair Handley said. “This
Montana this year, setting the Well Done Foundation with the game- partnership is solving a critical environmental
“This strategic partnership will provide
threat at scale in an entrepreneurial way. By
the stage to expand the changing resources to scale up more quickly,” leveraging the value of carbon credits, we
support the Well Done Foundation to succeed
Shuck said. “We are currently expanding
WDF initiative throughout our operations to Kansas, Texas, Colorado, in its cause. This financing of ‘plugging plans’
California, Pennsylvania, New York and West
and orphan well adoption is a key innovative
North America Virginia. What may have been seen as a drop step in our journey together.”
in the bucket initially is proving to be making
RADICLE GROUP AND WELL DONE
Today, Radicle Group and Well Done a real difference, one well at a time, because FOUNDATION, February 08, 2021
Foundation (WDF) signed an agreement that every little bit counts in the bigger picture and
helps finance and complete the plugging of actions deliver results.”

P16 www. NEWSBASE .com Week 06 11•February•2021