Drill Less, Extract More: This Just Announced Merger Unlocks ...

Drill Less, Extract More: This Just Announced Merger Unlocks Profits

Drill Less, Extract More: This Just Announced Merger Unlocks Profits By: Tomas Ronolski - News

Thursday, May 16, 2024

Wall Street whispers are growing louder around a hidden gem in the energy sector. A small, innovative oil and gas company has just gone public, and investors are taking notice.

Investors are drawn to mergers that bring promising companies public for several reasons. Importantly, a merger with a publicly traded company offers the private company immediate access to a larger pool of capital. Mergers with established firms not only offer these companies a fast track to funding, but also can boost their credibility through association with a respected brand. 

This creates a win-win where both parties gain valuable resources and exposure.

This just announced public company isn't drilling for new reserves; it's pioneering a method to extract abandoned reserves and also capture methane, a potent greenhouse gas typically flared as waste, and transform it into valuable resources.

Metawells Oil & Gas Inc. (OTCPK: KOSK) is making waves in the energy sector with its just announced merger having both environmental and economic benefits. The company recently signed a Letter of Intent with Global Oil and Gas Recovery Corp. (“GLOBAL”), paving the way for a formal agreement that just hit the news wires a few moments ago.

This merger marks a significant step towards revitalizing "zombie wells," abandoned oil and gas wells that continue to leak harmful methane gas.

This business model opens the door to Metawells working with giant oil and gas producers like Exxon Mobil (NYSE: XOM) and ConocoPhillips (NYSE: COP), major oil sands player Canadian Natural Resources Limited (TSX: CNQ), or a smaller producer like Coterra Energy (NYSE: CTRA), which was actually formed through a merger itself.

Optimizing Production & Combating Climate Change, One Well at a Time

First and foremost, GLOBAL aims to combat declining North American oil and gas production by capturing and maximizing previously discovered, but incompletely extracted, reserves. This will be achieved through the deployment of enhanced secondary oil and methane gas recovery (EOMR) methods across the US and Canada.

The company prioritizes deploying its EOMR technology in abandoned oil and gas wells, with a first wave targeting oil-rich areas like Kansas, Colorado, Oklahoma, Missouri, New Mexico, Texas, Arkansas, and Louisiana.

Furthermore, leaking methane will be captured. 

Methane contributes significantly to climate change. GLOBAL’s partner, PeNG is pioneering a green solution with its Mobile Refining Unit (MRU). This innovative technology captures harmful methane gas leaks from abandoned wells, often referred to as "zombie wells," and transforms it into usable fuel. While still under development, the MRU has the potential to be a game-changer in the fight against climate change and could be ready for production by the end of 2024.

This environmentally friendly approach aligns perfectly with both companies’ commitment to responsible resource management.

Turning Abandoned Assets into Assets

“Bringing in a company of this magnitude gives us the ability to use a strong technology company that can enhance oil recovery techniques to existing abandoned wells in the United States,” said the Metawells President in a recent press release on the merger agreement. 

GLOBAL’s technology doesn't just address environmental concerns; it offers substantial economic benefits. By utilizing PeNG’s technology, the merged company can extract additional resources from previously tapped reserves, breathing new life into dormant wells and generating revenue streams.

This strategic partnership is a win-win-win-win for the company, investors, industry, and environment. The result of implementing the technology is extracting old wells to capacity and reducing emissions, resulting in a more sustainable future for the energy sector.

Eyes on the Horizon

As mentioned above, with the formal merger agreement just hitting the press wires a few moments ago, Metawells is poised to announce specific project initiatives across the U.S.  This partnership signifies a crucial step towards a greener future, one that balances economic prosperity with environmental responsibility to the benefit of investors that are taking notice now.


Metawells Oil & Gas Inc. (OTCPK: KOSK) Full Corporate Write-Up: Click Here


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