Prometheus Energy has pioneered the use of LNG as an economically and environmentally favorable alternative to diesel fuel for various drilling applications. Prometheus deploys mobile LNG storage and vaporization adjacent to a rig's dedicated natural gas or bi-fuel gen-set, providing a reliable, clean and consistent source of natural gas. This LNG project provides the same mobility as diesel, while also providing significant economic savings and material emission reductions (NOx, CO, VOC). Prometheus Energy has been the dedicated LNG fueling supply solution for over 800 wells throughout North America.
Drill rigs are often powered by crude oil-based fuels despite being located directly over natural gas resources. As wells are tested, natural gas is produced and flared into the atmosphere. Regulatory flaring limits render off-grid exploration expensive and the well tests short-lived. This challenge often leads to deferred exploration and development of such fields and hence deferred revenue.
The LNG process allows for the creation of virtuous circles - using the natural gas produced by E&P activities to power the production cycle and continuing operations. This closed-loop system reduces the need to truck in expensive diesel and propane fuels. It also creates a natural hedge for gas producers.
Annually, natural gas equivalent to 42 billion gallons of diesel fuel is produced during oil and gas operations and flared (or vented) into the atmosphere globally, according to World Bank estimates.
Without a means to capture, transport and market the gas, this potential revenue stream is wasted, creating considerable environmental impact in the process. Prometheus works to capture this wasted gas and turn it into a viable revenue source for our partners. In doing so we reduce a major source of global green house gas emissions.
We work with natural gas producers in order to reduce flaring during production testing by capturing, cleaning and liquefying gas produced during well testing. We take gas that would otherwise have been flared and utilize our proprietary designs and technical know-how to clean and liquefy the gas, creating a high-value product from a wasted resource.
Prometheus Energy designed and installed a semi-portable liquefaction facility in New Mexico in a project jointly developed with a major oil and gas producer. The facility captured gas that traditionally would have been flared into the atmosphere. The LNG produced was marketed, transported and delivered by Prometheus to our customers. Our gas production partner enjoyed the benefit of an improved emissions profile and streamlined emissions permitting, as well as a new and incremental revenue stream. Our industrial customers enjoyed the benefits of a low-cost, environmentally friendly fuel.
The result? Helping energy producers and consumers unlock new revenue streams, lower the costs of their current fuel supply and move towards a more sustainable environmental footprint. An approach with clear benefits.