A prominent Gulf Coast oil and gas producer, who chose to stay anonymous for this case study, faced a common challenge in the oil and gas industry – an isolated well with associated natural gas and no existing gas pipeline infrastructure. The well produces 300+ barrels of oil per day and, without a pipeline, the produced gas was flared. Without a solution for the natural gas and with facility emissions at their limit, the producer was unable to drill addition wells at the location.
360 Energy deployed its Apex Gas Offtake system at this producer's well site. This modular solution captures produced natural gas directly at the source and transforms into a valuable digital data center output.
Eliminated Flaring: 360 Energy's technology eliminated the need for flaring, significantly reducing the producer's environmental footprint.
Emissions Reduction: By capturing gas that would have otherwise been flared, 360 Energy is helping this producer avoid ~25,000 metric tons of CO2e emissions per year from a single well.
Drilled New Well: By eliminating flaring and the associated emissions, the producer was able to drill an addition well at the location bringing on an additional 400+ barrels of oil per day.
New Revenue Stream: By enabling the utilization of previously wasted gas, 360 Energy created a new revenue stream for the producer and turned a liability gas stream into a cash generating asset.
Scalability: 360 Energy's modular design allowed for multiple expansions at the producers site as additional gas volumes came online.
"360 Energy's gas offtake technology provided a win-win-win solution for our company. We were able to eliminate flaring, drill a new well, and create a new revenue stream at this well site. This innovative solution has proven itself as a reliable, continuous gas offtake option that we will be rolling out more broadly across our portfolio", said an asset leader at the company.
This case study exemplifies the numerous benefits 360 Energy offers to oil and gas producers:
Reduced Environmental Impact: Eliminate flaring and its associated greenhouse gas emissions.
Increased Revenue: Generate new revenue streams by monetizing previously wasted natural gas.
Increased Oil Production: Produce oil from shut-in wells are drill new wells sooner without having to worry about gas offtake
Scalability: Easily adapt to changing production needs with rapid deploying modular solutions.
360 Energy's collaboration with this oil and gas producer demonstrates the power of Apex Gas Offtake in transforming the oil and gas industry. By creating a sustainable and economically viable solution, 360 Energy is helping producers achieve their environmental and financial goals.
