Project-Developer Rebellion Energy Solutions Expands Portfolio of U.S.-Based Methane-Abatement Credits With New ACR Issuance, Additional Project Listings

• Projects Provide a Vehicle to Deploy Net-Zero-Focused Capital From Private Sector to Plug Orphan Oil and Gas Wells, an Otherwise Underfunded Public Responsibility
  
  
• Methodology, Private Capital Serve to Focus Projects on Plugging Orphan Wells That Leak Substantial Amounts of Methane, Harm Communities

TULSA, Okla., Oct. 24, 2024 /PRNewswire/ -- Project-developer Rebellion Energy Solutions' portfolio of marketable U.S.-based methane-abatement credits is newly expanded with the addition of 1,891,423 verified, validated carbon credits in its second project. The global carbon-crediting program ACR at Winrock International issued the credits to Rebellion Energy for carbon dioxide equivalent (CO²e) it abated by plugging orphan oil and gas wells in Oklahoma that were leaking methane to the atmosphere.

Rebellion Energy's strategy is to generate high-quality carbon credits by tackling the environmental and health and human safety problem that orphan oil and gas wells create. By plugging orphan oil and gas wells, the company has generated methane-abatement credits with a certain, verified and immediate positive effect that is engineered to endure.

"Our portfolio growth – and market response – strengthens our confidence that the generation and sale of high-quality carbon credits from permanently plugging orphan wells can develop into a sustainable source of private-sector funds for critical methane abatement and land restoration," said Rebellion Energy CEO Staci Taruscio. "We are actively working in the operations phase of other projects and are continuing to expand our portfolio of marketable methane-abatement credits.

"We began this year with a big win, as our initial project earned the first carbon credits that ACR issued under its rigorously enforced new methodology for plugging orphan oil and gas wells. Now, we're seeing our strategy, a newly created industry of professionals and a more educated market come together in support of this important work," she said.

Buyers for Rebellion Energy's credits include entities in energy, technology, consulting, B2C, finance, banking, higher education and architecture. 

The Orphan Well Problem

Orphan wells, a subset of abandoned oil or gas wells, have not been operated or maintained in accordance with regulations and have become wards of the state – with no solvent operator of record. In addition to leaking methane – a potent, fast-acting greenhouse gas – many of these wells are in disrepair and are leaking other toxic chemicals that pollute the air, contaminate groundwater, degrade soil, damage ecosystems and pose human health and well-being risks to the surrounding community.

The orphan-well problem is larger than public funds available to address it. The United States has more than 120,000 documented orphan wells, but the actual figure, including undocumented wells, could be several times higher. The U.S. Environmental Protection Agency estimates that greenhouse gas emissions from both orphaned and abandoned wells range from 7 million to in excess of 20 million metric tons of CO²e per year.

Independently Rated, High-Quality Credits

Beyond the scrutiny of ACR's methodology and the third-party validation of its project, Rebellion Energy Solutions expects to seek and receive independent ratings of its newly issued credits. Carbon credits from Rebellion's initial methane-abatement project earned an A rating on June 12^th from BeZero Carbon. The designation from the independent, global carbon-credits ratings agency ranks Rebellion's project in the top 6% of projects on which BeZero has issued ratings. That project also was rated by Calyx Global, whose non-public ratings it makes available to subscribers.

About Rebellion's Heartland 2 Project

The volume of CO₂e abated in Rebellion's Heartland 2 Project (ACR966) is equivalent to more than 185 million gallons of gasoline consumed, according to the U.S. EPA's greenhouse gas equivalencies calculator. Rebellion's project also ties to key United Nations Sustainable Development Goals and mitigates legacy impacts for landowners and surrounding communities.

Rebellion designed the project, located in a historic oil-and-gas production basin in Oklahoma, to ensure the leaking methane is trapped thousands of feet below the surface. In addition, Rebellion worked with local landowners to restore the surface lands, which is beyond the scope of ACR's methodology.

The wells Rebellion plugged are an average of 44 years old and had been unattended for more than a decade – with no ongoing maintenance or plugging activity to ensure well integrity and no assigned responsibility to complete the lifecycle of the wells. Rebellion assumed operational responsibility for the orphaned wells from the state government and privately funded the plugging and land-restoration. No state or federal funds were available for this work.

Additional Data for Interested Parties

Parties interested in learning more and/or purchasing these methane-abatement credits may contact Rebellion at info@rebellionenergy.com to request access to the Heartland Project data room, which provides a robust level of technical information on the project and the credits.

About Rebellion Energy Solutions https://rebellionenergy.com

Rebellion Energy Solutions, a portfolio company of Grey Rock Investment Partners, is headquartered in Tulsa, Okla. Rebellion is a woman-led business with a multi-disciplinary team of experts committed to creating sustainable solutions through oilfield cleanup and environmental justice in a comprehensive effort to restore the land, reduce harmful carbon emissions, and create taxable revenue streams for communities.

About Grey Rock Investment Partners https://www.grey-rock.com/

Grey Rock Investment Partners is a private equity firm with more than $1 billion in asset value across its private equity fund platform. Grey Rock invests across the energy value chain with private equity funds focusing on investments in natural resources, carbon capture, industrial electrification, and reduction of methane emissions.

Forward-Looking Statement

Certain statements in this article may constitute "forward-looking statements." The forward-looking statements in the article reflect the management team's best judgment at the time they are made, but all such statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those expressed in or implied by the statements herein. Estimates of future performance reflect various assumptions that may or may not prove accurate, as well as the exercise of a substantial degree of judgment by the management team as to the scope and presentation of such information. Readers are cautioned not to place undue reliance on any forward-looking statements that may be contained herein. The company and management team do not intend to, and do not undertake any obligation to, update the forward-looking statements contained herein.

For more information:
Kerry Malone
kerry@schnake.com
918-625-4958

SOURCE Rebellion Energy Solutions