HillTex Operating Company

The latest from the Payne Institute for Public Policy on plugging orphan and abandoned #oilandgas wells. Colorado School of Mines Professor of Practice Jim Crompton, P.E. master's candidate and student researcher Vandan Bhalala and I compare existing #carboncredit methodologies and consider how standards in the practice may evolve. Entities mentioned: ACR at Winrock International, BCarbon, CarbonPath, The Integrity Council for the Voluntary Carbon Market (ICVCM) #carbonoffsets #orphanedwells #decarbonization #sustainablefinance #wellplugging #oott #carbonfinance https://lnkd.in/ehsqYNC8

One Tonne Capital (1TC) is pleased to announce the launch of the "Cross Timbers Reclamation Project (CTRP) and issuance of the first well plugging and site reclamation Carbon Credits issued in Texas utilized the BCarbon Registry's Methane Capture & Reclamation (MCR) methodology. As the Project Developer of the CTRP, One Tonne Capital has identified within the 26,000 square mile Cross Timbers & Prairies Ecological Region of North Central Texas exists thousands of idle & orphan wells that clearly pose both environmental & climate risks to the region. After years of study and evaluation, we chose the HillTex River Ranch #180 well located in the Cross Timbers Region to be the first of many abandoned well locations to remediate methane from leaking into the atmosphere as well as reclaiming the land. According to Texas Parks and Wildlife historical data, the Cross Timbers & Prairies Ecological Region was noted by early travelers as one of the richest and most beautiful districts in the country! (https://lnkd.in/gen8TPbV). Although this is our first MCR Well Plugging Project to complete, we have many more in the pipeline, but have chosen to be extremely selective to areas where we can make a significant positive impact to the local environment as well as removing harmful & uncontrolled emissions from being emitted. The combination that Steve Hillmer and I bring to the table, along with that of ALL Consulting and HillTex Operating Company spans a combined 80 years of experience that has not only included well plugging, but also includes farming & ranching, site clean-up & reclamation, wildlife conservation, community enhancement, and active participation in a variety of social & charitable causes. It is important to note that this process of well plugging for MCR does not include any funding from state or federal agencies. The #180 well would not have been plugged had it not been for the presence of the private sector carbon market, with this being the first well in Texas to be plugged for carbon credits in Texas and BCarbon's first issuance of credits under their MCR Protocol. This puts One Tonne Capital in a unique position as a leader in this arena, not only addressing old wells that need plugged, but also in regards to focusing on all the co-benefits that also come into play. I hope this project demonstrates that we are not only focused on addressing uncontrolled well emissions, but doing so where the combined impacts can be extremely positive for both the environment and all the people that either live in these areas or rely on them. And thanks also to BCarbon, @Ean Garvin, PhD (Willowstick Carbon), ALL Consulting, HillTex Operating Company, Railroad Commission of Texas,