Crusoe Energy Systems Inc., a technology-driven flare mitigation provider, is now operating five Digital Flare Mitigation (DFM) systems in North Dakota, Wyoming and Colorado, and has agreed on Aug. 16 to provide up to ten additional systems for deployments in Montana, Wyoming and North Dakota by the end of 2019.
Across its existing projects, Crusoe has already eliminated more than 25 million cubic feet (MMcf) of natural gas flaring, significantly reducing air emissions for local communities as well as regulatory challenges faced by oil and gas companies.
Crusoe marries technology-empowered solutions with one of the oil industry’s greatest environmental challenges. Crusoe uses gas that would have otherwise been burned in the air as a “flare,” and instead powers modular, mobile data centers designed specifically for the oil field. In addition to reducing waste, this solution can also help both oil companies and pipeline operators to significantly reduce emissions.
“Crusoe’s digital flare mitigation solution has quickly proven itself as a scalable, reliable, environmental and cost-effective solution. By marrying the power demand of today's digital computing platforms with the gas glut faced by America’s shale producers, Crusoe creates the type of win-win that we’ve seen change industries before. We’re excited to be backing the Crusoe team as they expand their digital flare mitigation services across the oil and gas industry,” Scott Nolan, partner at Founders Fund, said.
The expansion comes closely after the discovery of new proven oil reserves in and around the Banyu Urip Field, which is estimated to be more than double the previous one.
In a securities filing, the company said it produced 3.025 MMboe/d, up 5.1% from the third quarter and 13.7% from fourth-quarter 2019.
Eni has made a gas and condensate discovery in the Mahani exploration prospect located onshore in the Area B Concession of Sharjah (UAE) on Jan. 27, which was awarded to Eni in the first International Competitive Exploration Licensing Round conducted by the Petroleum Council of Sharjah.