SOUTH WALES, N.Y., Oct. 26, 2023 (GLOBE NEWSWIRE) -- ZEFIRO METHANE CORP. (the “Company”, “Zefiro”, or “ZEFI”) which works to reduce methane emissions by plugging orphaned oil and gas wells across the U.S., yesterday co-hosted U.S. Department of the Interior ("DOI") Infrastructure Coordinator Winnie Stachelberg and several officials from the New York State Department of Environmental Conservation (“NYSDEC”) at an oil well the Company helped successfully plug in South Wales, New York. The visit, which Zefiro co-hosted with oil and gas well plugging operator and Zefiro subsidiary Plants & Goodwin (“P&G”), underscored the Company’s commitment to working with federal and state government partners, along with a variety of key organizations throughout the energy sector, to scale their operations in a manner that can help address this nationwide problem.
According to the latest projections, there are more than four million abandoned wells scattered across 26 U.S. states, including over approximately 23,000 unplugged sites in New York state alone. These unplugged wells often leak methane gas that can be up to 84 times more hazardous than carbon dioxide emissions and have the potential to harm surrounding farmland, drinking water sources, and air quality.
October 25, 2023: Zefiro Founder and Executive Chairman Talal Debs is pictured with DOI Infrastructure Coordinator Winnie Stachelberg at the site of an oil well successfully plugged by Zefiro and P&G in South Wales, NY
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“For too long, government agencies and corporate entities seeking to stem the nationwide proliferation of abandoned oil and gas wells have not had access to the resources needed to address this legacy issue,” said Talal Debs, Founder and Executive Chairman, Zefiro Methane Corp. “The Department of the Interior and the New York State government have shown their resolve to help end this noxious cycle, and our team at Zefiro will continue to do our part to foster the public-private projects needed to get the job done for all affected communities in the Empire State and across the country.”
“From the woods of Appalachia to the swamps of Louisiana, hardworking crews that have the unique capacity to identify and plug orphaned oil and gas wells are calling out for the tools needed to confront this public health threat,” said Luke Plants, Chief Executive Officer, Plants & Goodwin. “This example of federal, state, and industry stakeholders coming together to plug this hazardous well can be replicated at countless sites throughout the nation, and as a third-generation oil well plugger, I could not be more excited to keep building these kinds of partnerships that are already producing meaningful results.”
On behalf of the Board of Directors of the Company,
ZEFIRO METHANE CORP.
“Curt Hopkins”
Curt Hopkins, CEO
For further information, please contact:
Zefiro Investor Relations
1 (800) 274-ZEFI (274-9334)
investor@zefiromethane.com
For media inquiries, please contact:
Rich Myers - Profile Advisors (New York)
media@zefiromethane.com
(347) 774-1125
About Zefiro Methane Corp.
Zefiro develops methodologies to reduce methane emissions by plugging orphaned and abandoned oil/gas wells, while originating carbon offsets. Under executive leadership to include the former carbon market team at J.P. Morgan, Zefiro actively deploys crews to decommission wells throughout the United States. With unprecedented global demand for carbon offsets as corporations and institutions work towards net-zero targets, Zefiro is strategically aligning with industry leaders for a greener future.
Forward-Looking Statements
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