The Oklahoman featured a guest column authored by Rebel CEO Staci Taruscio where she shared her expert insight on how states like Oklahoma can leverage the existing orphan well dilemma and turn it into a profitable opportunity for taxpayers, landowners and the environment.
An excerpt: “Experts estimate 16,000 documented orphaned wells in Oklahoma and another 100,000-plus across the nation. Each of these wells has the potential for complex environmental problems, including dangerous chemical leaks, methane and other greenhouse gas emissions, and hazardous equipment on site. This puts natural resources and human health and well-being at risk, often in the most vulnerable communities. It can cost anywhere from $5,000 to over $100,000 to plug a well and comes with a labyrinth of government paperwork and fiduciary requirements.
But there is a solution, and it doesn’t require taxpayer dollars.
By utilizing the emerging voluntary carbon market, Oklahoma can monetize the cleanup process. In other words, by incentivizing companies to invest in the reclamation of orphan wells, Oklahoma can create a taxable revenue stream and high-quality jobs within the state.”
Here is a link to the full editorial: There are about 16,000 documented orphaned wells in Oklahoma – and a solution.
