Business
American Power Group's Trident NGL Services Division Secures Flare Capture Agreement With Another Major Oil Company in the North Dakota Bakken Region
American Power Group's Trident NGL Services Division Secures Flare Capture Agreement With Another Major Oil Company in the North Dakota Bakken Region.
About this update from American Power Group Corp.
[{"type":"text","content":"\n \n \n American Power Group's Trident NGL Services Division Secures Flare Capture Agreement With Another Major Oil Company in the North Dakota Bakken Region\n \n \nAmerican Power Group's Trident NGL Services Division Secures Flare Capture Agreement With Another Major Oil Company in the North Dakota Bakken Region\n \n LYNNFIELD, MA--(Marketwired - Sep 14, 2015) - American Power Group Corporation (OTCQB: APGI) announced today that its Trident NGL Services Division has secured its second flare capture services relationship with one of the largest oil companies in the world whose identity has not been disclosed due to non-disclosure and competitive reasons. APG's Trident Services Division will be up-fitting two of the customer's well sites with Trident's Modular Flare To Fuel™ Capture and Recovery System in the North Dakota Bakken oil and gas region. Installation of both systems is scheduled to occur in the next thirty to sixty days allowing Trident to begin monetizing the captured flare by converting the gas to saleable Natural Gas Liquids (\"NGL's\").\n APG recently announced a license agreement with Trident Resources, LLC (\"Trident\") for the exclusive worldwide right to commercialize Trident's proprietary NGL processing technology. APG purchased certain of Trident's operating assets including two existing mobile NGL processing systems and recently announced a commitment for the financing of two additional systems in response to strong demand from oil and gas operators looking for an effective solution to capture their flare on existing remote and stranded well sites. An average remote or stranded well site producing one to two million cubic feet of flared gas per day has the capacity to produce several million gallons of NGL per year making this a multi-billion dollar regulatory-driven market. \n What is the NGL market and where does APG's Trident NGL Services Division fit? When oil is extracted from shale, a mixture of hydrocarbon gases (methane, ethane, propane, butane, pentane and other heavy gases) reach the surface at each well site. These gases are either gathered in low-pressure pipelines for downstream NGL extraction by mid-stream processing companies or flared into the atmosphere when the gas-gathering infrastructure is too far away (remote well sites) or the pipeline is insufficient to accommodate the volumes ...