Orphan-Well Plugging Project in Oklahoma Scores in Top 6% of 430+ Projects BeZero Has Rated Globally

TULSA, Oklahoma (June 20, 2024) – Rebellion Energy Solutions’ initial methane-abatement project on June 12 received a BeZero Carbon Rating of “A.”

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.

The A rating represents agency’s opinion at publication of a “high likelihood” that each carbon credit generated by Rebellion’s project will avoid one metric ton of CO2e. BeZero’s review assesses various factors, such as additionality, crediting accuracy and permanence.

“This A rating of Rebellion’s initial methane-abatement project is additional validation of our strategy to generate high-quality carbon credits by tackling the environmental and health and human safety problem that orphan oil and gas wells create,” said Rebellion CEO Staci Taruscio. “By plugging orphan oil and gas wells, we have generated methane-abatement credits with a certain, verified and immediate positive effect that will endure.

“We believe that the generation and sale of high-quality carbon credits from permanently plugging orphan wells can develop into a sustainable source of private financing for critical methane abatement and land restoration.”

For this BeZero-rated project, Rebellion in January received 80,792 metric tons CO2 equivalent (CO2e) of methane-abatement credits issued by the global carbon-crediting program, ACR at Winrock International.

Rebellion’s credits for its initial project – Heartland Methane Abatement and Land Restoration Project (ACR890) – are the first and only, to date, that ACR has issued under its rigorous methodology for plugging orphan oil and gas wells.

In addition to its initial project, Rebellion has two similar projects (ACR966 and ACR1023) listed with ACR.

ACR in 2023 published the world’s first methodology to leverage carbon markets to finance the plugging of orphan oil and gas wells.

About Rebellion’s A-Rated Project

The volume of CO2e abated in Rebellion’s Heartland Project (ACR890) is equivalent to more than 9 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 more than 40 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.

The project credits are listed on the ACX Carbon Market Board for trading and settlement. Rebellion’s credits constitute the inaugural listing of ACR-standard carbon credits on ACX Ltd., a leading environmental-markets exchange.

The Orphan Well Problem

Orphan wells are abandoned, unplugged, inactive oil and gas wells that are wards of the state – with no solvent owner 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.

Additional Data for Interested Parties

Parties interested in learning more and/or purchasing these methane-abatement credits may contact Rebellion at data@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.

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