Zefiro Announces Membership in Canadian Public-Private Working Group Addressing Alberta’s Orphaned and Marginal Oil & Gas Wells
Zefiro Methane Corp (ZEFIF) has joined Alberta's Drilling and Completion Committee's 'Mature Asset Strategy Working Group', a collaborative initiative addressing orphaned and marginal oil & gas wells in the province. The company will work alongside public, private, and non-profit stakeholders to tackle an estimated 170,000 sites that can leak methane gas, which is 25 to 85 times more potent than carbon dioxide in trapping atmospheric heat.
Zefiro's involvement was announced by CEO Dr. Talal Debs during a presentation at the UN's COP29 in Baku. The company will contribute its expertise in well plugging operations and carbon credit portfolio management to support well remediation and management projects throughout Alberta.
Zefiro Methane Corp (ZEFIF) si è unita al 'Gruppo di lavoro sulla strategia per gli asset maturi' del Comitato di perforazione e completamento dell'Alberta, un'iniziativa collaborativa che affronta i pozzi petroliferi e di gas orfani e marginali nella provincia. L'azienda lavorerà insieme a stakeholder pubblici, privati e senza scopo di lucro per affrontare circa 170.000 siti che possono rilasciare gas metano, il quale è da 25 a 85 volte più potente della anidride carbonica nel trattenere il calore atmosferico.
Il coinvolgimento di Zefiro è stato annunciato dal CEO Dr. Talal Debs durante una presentazione alla COP29 delle Nazioni Unite a Baku. L'azienda contribuirà con la propria esperienza nelle operazioni di insonorizzazione dei pozzi e nella gestione del portafoglio di crediti di carbonio per supportare progetti di bonifica e gestione dei pozzi in tutto l'Alberta.
Zefiro Methane Corp (ZEFIF) se ha unido al 'Grupo de trabajo sobre la estrategia de activos maduros' del Comité de perforación y completación de Alberta, una iniciativa colaborativa que aborda los pozos de petróleo y gas huérfanos y marginales en la provincia. La empresa trabajará junto a partes interesadas del sector público, privado y sin fines de lucro para abordar aproximadamente 170,000 sitios que pueden filtrar gas metano, el cual es entre 25 y 85 veces más potente que el dióxido de carbono en atrapar el calor atmosférico.
La participación de Zefiro fue anunciada por el CEO Dr. Talal Debs durante una presentación en la COP29 de la ONU en Bakú. La empresa contribuirá con su experiencia en operaciones de sellado de pozos y gestión de carteras de créditos de carbono para apoyar proyectos de remediación y gestión de pozos en toda Alberta.
제피로 메탄 주식회사 (ZEFIF)는 알버타의 드릴링 및 완공 위원회의 '성숙 자산 전략 작업 그룹'에 합류했습니다. 이 협력 이니셔티브는 주 내 유기적이고 한계가 있는 석유 및 가스 우물을 다루고 있습니다. 회사는 공공, 민간 및 비영리 이해관계자들과 함께 일할 것입니다 알버타에서 메탄 가스를 누출할 수 있는 약 170,000곳을 다루는 작업으로, 메탄은 대기 열을 가두는 데 있어 이산화탄소보다 25배에서 85배 더 강력합니다.
제피로의 참여는 CEO인 Dr. Talal Debs가 바쿠에서 열린 유엔 COP29에서 발표하였습니다. 이 회사는 알버타 전역의 우물 복구 및 관리 프로젝트를 지원하기 위해 우물 밀봉 작업 및 탄소 신용 포트폴리오 관리의 전문성을 기여할 것입니다.
Zefiro Methane Corp (ZEFIF) a rejoint le 'Groupe de travail sur la stratégie pour les actifs matures' du Comité de forage et de finition de l'Alberta, une initiative collaborative visant à traiter les puits de pétrole et de gaz orphelins et marginaux dans la province. La société travaillera aux côtés des parties prenantes publiques, privées et à but non lucratif pour s'attaquer à environ 170 000 sites pouvant fuir du gaz méthane, qui est 25 à 85 fois plus puissant que le dioxyde de carbone pour piéger la chaleur atmosphérique.
L'implication de Zefiro a été annoncée par le PDG Dr. Talal Debs lors d'une présentation à la COP29 de l'ONU à Bakou. L'entreprise contribuera avec son expertise dans les opérations de colmatage des puits et la gestion de portefeuille de crédits carbone pour soutenir les projets de remédiation et de gestion des puits à travers l'Alberta.
Zefiro Methane Corp (ZEFIF) hat sich der 'Arbeitsgruppe zur Strategie reifer Vermögenswerte' des Bohr- und Fertigstellungs-Ausschusses von Alberta angeschlossen, eine kollaborative Initiative, die sich mit verwaisten und marginalen Erdöl- und Erdgasbohrungen in der Provinz befasst. Das Unternehmen wird gemeinsam mit öffentlichen, privaten und gemeinnützigen Interessengruppen arbeiten, um etwa 170.000 Standorte anzugehen, die Methangas ausstoßen können, das 25 bis 85 Mal potenter ist als Kohlendioxid in Bezug auf die Bindung von atmosphärischer Wärme.
Die Beteiligung von Zefiro wurde von CEO Dr. Talal Debs während einer Präsentation auf der COP29 der Vereinten Nationen in Baku bekannt gegeben. Das Unternehmen wird seine Expertise in der Bohrverschlussoperation und im Management des Kohlenstoffguthabenportfolios einbringen, um Projekte zur Sanierung und zum Management von Bohrungen in ganz Alberta zu unterstützen.
- Strategic participation in Alberta's Working Group positions the company to expand its methane abatement services in a key market
- Company demonstrates growing industry recognition through participation in high-profile climate events and forums
- None.
Zefiro’s membership in the Alberta-based Drilling and Completion Committee’s “Mature Asset Strategy Working Group” will entail working alongside public, private, and non-profit sector stakeholders to promote the retirement of orphaned wells and proper management of marginal wells across the province.
FORT LAUDERDALE, Fla., Dec. 10, 2024 (GLOBE NEWSWIRE) -- ZEFIRO METHANE CORP. (Cboe Canada: ZEFI) (Frankfurt: Y6B) (OTCQB: ZEFIF) (the “Company”, “Zefiro”, or “ZEFI”) today announced that the Company has secured a membership position within the Alberta, Canada-based Drilling and Completion Committee’s “Mature Asset Strategy Working Group” (the “Working Group”), a collection of public, private, and non-profit sector stakeholders that are seeking to stem the proliferation of orphaned and marginal oil and gas wells throughout the province. Zefiro Founder and Chief Executive Officer Dr. Talal Debs first acknowledged the Company’s involvement in the Working Group while appearing alongside Government of Alberta Assistant Deputy Minister for Air, Climate, and Clean Technology Patrick McDonald as a presenter and panelist at the International Emissions Trading Association’s (“IETA”) event at the United Nations’ 2024 Climate Change Conference (“COP29”) in Baku, Azerbaijan.
As part of Zefiro’s efforts within the Working Group, Dr. Debs and CEO of Zefiro Services and Senior Vice President for Business Development Luke Plants will lend their expertise and determine how the company can help promote the acceleration of abandoned oil and gas well remediation and marginal well management projects throughout Alberta. Specifically, Zefiro’s unique ability to forge an expanding oil and gas well plugging operation that is partly funded by a diverse, in-demand carbon credit portfolio will be an integral part of the high-level discussions regarding confronting the estimated 170,000 sites throughout Alberta that can leak methane gas. Methane gas is capable of being 25 to 85 times as potent as carbon dioxide emissions in terms of trapping heat in the atmosphere.
Zefiro Founder & CEO Dr. Talal Debs (pictured furthest on the left) speaks at IETA’s COP29 event on November 15, 2024. Also pictured (center-right), Government of Alberta Assistant Deputy Minister for Air, Climate, and Clean Technology Patrick McDonald
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Zefiro Founder and Chief Executive Officer Dr. Talal Debs commented, "From site identification to gas leak testing to permanent well plugging projects, the demand for our unique suite of methane abatement services continues to increase in key markets across North America. Our investment in forging a dedicated team of experts has provided us with decades’ worth of institutional knowledge across the entire Zefiro operation, and I look forward to collaborating with our colleagues in the Working Group to bolster ambitious new initiatives that can help more communities throughout Alberta address this legacy issue.”
Zefiro’s contribution to the Working Group is the latest in a series of high-profile appearances, speaking engagements, and trade association memberships that have bolstered the Company’s position as a methane abatement sector thought leader. These opportunities and initiatives have ranged from Dr. Debs serving as a featured speaker at the UN COP29 ‘Sustainable Innovation Forum’, to members of Zefiro’s senior leadership team hosting an event and participating in a number of sanctioned panel discussions at NYC Climate Week 2024, to Zefiro Chief Commercial Officer Tina Reine the 2024 Argus Europe Carbon Conference, to Zefiro Board Member Catherine Flax addressing attendees of the 2024 Wall Street Green Summit.
About Zefiro Methane Corp.
Zefiro is an environmental services company, specializing in methane abatement. Zefiro strives to be a key commercial force towards Active Sustainability. Leveraging decades of operational expertise, Zefiro is building a new toolkit to clean up air, land, and water sources directly impacted by methane leaks. The Company has built a fully integrated ground operation driven by an innovative monetization solution for the emerging methane abatement marketplace. As an originator of high-quality U.S.-based methane offsets, Zefiro aims to generate long-term economic, environmental, and social returns.
On behalf of the Board of Directors of the Company,
ZEFIRO METHANE CORP.
“Talal Debs”
Talal Debs, Founder & CEO
For further information, please contact:
Zefiro Investor Relations
1 (800) 274-ZEFI (274-9334)
investor@zefiromethane.com
For media inquiries, please contact:
Rich Myers - Profile Advisors (New York)
media@zefiromethane.com
+1 (347) 774-1125
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information is often, but not always, identified by the use of words such as “seeks”, “believes”, “plans”, “expects”, “intends”, “estimates”, “anticipates” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. In particular, this news release contains forward-looking information including statements regarding: the Company’s intention to reduce emissions from end-of-life oil and gas wells and eliminate methane gas; the Company’s partnerships with industry operators, state agencies, and federal governments; the Company’s expectations for continued increases in revenues and EBITDA growth as a result of these partnerships; the Company’s intentions to build out its presence in the United States; the anticipated federal funding for orphaned well site plugging, remediation and restoring activities; the Company’s expectations to become a growing environmental services company; the Company’s ability to provide institutional and retail investors alike with the opportunity to join the Active Sustainability movement; the Company’s ability to generate long-term economic, environmental, and social returns; and other statements regarding the Company’s business and the industry in which the Company operates. The forward-looking information reflects management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking information. Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed timeframes or at all. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to: (i) adverse general market and economic conditions; (ii) changes to and price and volume volatility in the carbon market; (iii) changes to the regulatory landscape and global policies applicable to the Company's business; (iv) failure to obtain all necessary regulatory approvals; and (v) other risk factors set forth in its Prospectus dated April 8, 2024 under the heading “Risk Factors”. The Company operates in a rapidly evolving environment where technologies are in the early stage of adoption. New risk factors emerge from time to time, and it is impossible for the Company’s management to predict all risk factors, nor can the Company assess the impact of all factors on Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking information. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that general business and economic conditions will not change in a materially adverse manner. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The forward-looking information included in this news release is made as of the date of this news release and the Company expressly disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.
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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1a24f5be-cd96-4fc5-85c5-a69f0e5a14d8
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