Blackfire is positioned to turn liabilities into resources.
The Current State of The Market
The methods and technologies used to prospect for hydrocarbons, then drill, log, complete and produce wells, continue to advance rapidly. Wells drilled 15 years or more ago, were not monetized as thoroughly as they could be today.
In a study conducted in 2018 by the United States Environmental Protection Agency (EPA), to study greenhouse gas emissions from oil and gas wells, the EPA estimated that nationwide, there were 3.11 million abandoned oil and gas wells. Sixty-nine percent — or 2.15 million — of these wells are not even plugged.
These abandoned/orphaned wells are now the property of the State and so have become both a defined liability and a potential resource.
The BLACKFIRE team members have all been at the cutting edge of oilfield technology throughout their careers and continue to profit by updating legacy thinking, processes and technologies.
BLACKFIRE is positioned to turn these liabilities into resources.
With Our expertise we work through appropriate use of capital, technology, expertise and industry best practices to return your assets from brownfields to greenfields again.