Regulatory Drivers Impacting Major Oil & Gas Producers in Canada Create Growth Opportunity for MV Technologies' Patented Oilfield Fugitive Emission Capture Systems
GOLDEN, CO -- (Marketwired) -- 05/04/17 -- Strategic Environmental & Energy Resources, Inc. (SEER) (OTCQB: SENR), a provider of environmental, renewable fuels and industrial waste stream management services, has partnered with a Canadian company, Innovative Energy Technologies (IET), to market its MV Technology division's patented and proprietary Variable Volume Vapor Recovery Unit (V3RU™) and V3RU Plus™ technologies. SEER and its partner will be operating through a newly formed joint venture Canadian company owned 90% by SEER and 10% by IET. Working closely with IET, the Company intends to leverage the experience of its REGS services division with over 20 years of oil field services, as well as the V3RU's proven results and domestic operating history in the Colorado and Wyoming oil fields. Initially, the collective efforts will be focused to deploy the fugitive emission capture technologies in major oil and gas fields located in Western Canada, particularly the Lloydminster area. Phase I will be to deploy its V3RU systems and Phase II will be to introduce the V3RU Plus system that not only captures emissions, but also produces natural gas liquids for resale or beneficial uses in oil field operations. In the Colorado and Wyoming oil fields, the technology has been demonstrated to cost effectively reduce or completely eliminate harmful green-house-gas (GHG) and volatile organic compound (VOC) emissions at smaller wells (200-500 m3/day) without the need for electricity.
The patented MV system is designed as an economic solution for oil and gas producers that are confronted by ever increasing air emission regulations while, at the same time, create an attractive way to take advantage of GHG/carbon credit programs and incentives. In Canada, these programs are currently much more developed and economically rewarding when compared to the U.S.
The principals of IET contribute over 50 years of industry experience working on GHG reduction projects and technologies in the Western Canadian oil and gas industry. Having worked with industry, technology and government agencies, the IET team has relationships with key decision makers and stakeholders across the Canadian O&G industry and environmental groups. The valuable associations and broad experience brought by the newly established partnership with IET will accelerate commercialization of SEER's V3RU and V3RU-Plus technologies in Canada with major oil and gas producers.
Wayne Hillier, former director of the greenhouse gas and water environmental priority areas for Canada's Oil Sands Innovation Alliance (COSIA), will lead IET's partnership with SEER and spearhead the V3RU deployments in Western Canada. Hillier has more than 30 years of Canadian oil and gas sector experience, and spent 12 years at Husky Energy, most recently as Director of Climate Change and Sustainability Services, where he designed and implemented Husky's climate change and air pollution management framework.
Hillier commented, "Given the new GHG regulations in Alberta, and emerging regulations regarding odors, the patented SEER technologies offer an economic and compelling commercial solution for Western Canadian oil and gas producers. The systems are well suited to address the challenges with which the producers in the Lloydminster fields are being confronted as part of the growing cold heavy oil production with sand, or CHOPS," said Hillier. In addition to being an obvious benefit to the environment and making regulatory compliance immediately achievable, these solutions provide an opportunity at thousands of smaller and stranded wells to capture the low volume and intermittent methane and other VOC releases for beneficial use -- including recovering the entrained liquids. They also present a source for sustained economic upside to the industry in the form of GHG credits."
Other principals at IET leading the commercial rollout of the technologies are Keith Driver and Cooper Robinson. Keith Driver has been involved in the development of a wide range of innovative projects that require an understanding of the emerging environmental credit markets (GHG, LCFS, RPS, RFS) to maximize their value to the technology developer and the industry. Mr. Driver is one of Canada's foremost experts on quantifying and reporting carbon emission reductions, and related project development. He has been a key contributor, and developer of Alberta's provincial offset quantification and trading system.
Driver commented, "The V3RU and V3RU-Plus systems certainly address one of the key opportunities for capturing methane and other harmful fugitive emissions that would otherwise be vented to the atmosphere. It will also support beneficial use of many of the otherwise flared or emitted gases while the GHG reductions provide a significant incentive for project implementation."
Cooper Robinson, Managing Director of Cap-Op Energy, a Canadian energy sustainability company whose mission is to make sustainability profitable, is a recognized sustainability expert specializing in the oil and gas industry, among others. With a passion for innovative entrepreneurship, he is working to build and support companies that embed sustainable development in their business models.
Robinson commented, "We were excited to discover SEER and its portfolio of oil field solutions. The reductions in GHG emissions from the implementation of the V3RU and V3RU-Plus provide a significant opportunity for oil and gas producers in Western Canada. The GHG reduction programs in British Columbia and Alberta are designed to bolster this type of technology and can, in many cases, unlock very attractive returns for methane venting reductions."
"This partnership with IET demonstrates new revenue opportunities for MV and REGS in providing cost-effective solutions for major oil and gas producers in Canada," said Richard Robertson, President of MV Technologies. "Based only on the GHG offsets, the economic benefits to our clients are immense given a projected return of less than one year on a basic V3RU implementation in Alberta on a site venting 300 m3 of methane per day," explained Robertson.
"After extensive due diligence, our team was thoroughly impressed with IET's experience, relationships and knowledge in the sector and region. Our new partnership represents a tremendous step forward in bringing to market MV's patented technology," said John Combs, SEER's CEO.
"Moreover, given the strict and more progressive Canadian regulations governing methane and volatile organic compound emissions in the oilfields, as well as the aggressive Canadian incentive programs centered around greenhouse gas and carbon credits, we believe this market represents an imminent and potentially very lucrative opportunity for the Company and our new Canadian partners. The partnership is a perfect fit of our technologies and service capabilities with their proven, industry-specific experience and expertise. We will continue to push forward in the western U.S. fields and are optimistic our anticipated success in Canada will accelerate the domestic sales cycle," concluded Combs.
About Strategic Environmental & Energy Resources, Inc.
Strategic Environmental & Energy Resources, Inc. (SEER) (OTCQB: SENR), identifies, secures, and commercializes patented and proprietary environmental clean technologies in several multibillion dollar sectors (including oil & gas, renewable fuels, and all types of waste management, both solid and gaseous) for the purpose of either destroying/minimizing hazardous waste streams more safely and at lower cost than any competitive alternative, and/or processing the waste for use as a renewable fuel for the benefit of the customers and the environment. SEER has four wholly-owned operating subsidiaries: REGS, LLC; Tactical Cleaning Company, LLC; MV Technologies, LLC and SEER Environmental Materials, LLC; and two majority-owned subsidiaries: Paragon Waste Solutions, LLC; and ReaCH4biogas ("Reach"). For more information about the Company visit: www.seer-corp.com.
Forward Looking Statements
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Source: Strategic Environmental & Energy Resources, Inc.
Released May 4, 2017