FOR IMMEDIATE RELEASE

Oil and Gas Operator to Partner with Conservation NGO to Identify and Plug Additional Orphaned Oil Wells

Shelby, MT – July 7, 2021 – The Well Done Foundation (“WDF”) today announced the expansion of its existing initiative with Alpine CapH4, LLC (“Alpine CapH4”), a wholly owned subsidiary of Nashville-based HB2 Origination LLC (“Origination”), to identify and remediate up to 30 or more abandoned wells identified as super-emitters of harmful methane gas, according to WDF chairman and CEO Curtis Shuck.

“We are excited to grow this program with Alpine CapH4 by working together to identify a group of 30 or more significant methane-emitting wells across the U.S. that we anticipate plugging over the next 12-18 months,” Shuck said. “We are grateful to collaborate with industry innovators that recognize how important it is to take action now because each well we address yields an immediate pollution-offsetting result. Through this joint undertaking, Origination has again demonstrated its commitment to developing a sustainable approach to mitigate legacy sources of pollution in the industry.”

Craig Perry, CEO of Origination, elaborated, “Curtis and his team at WDF are at the forefront of this important effort to curb methane pollution.  Additionally, we are eager for Alpine CapH4 to establish a foothold in the emerging carbon credit business by leveraging Origination’s existing platform and industry relationships alongside WDF’s established mitigation process.”

The “Well Done Process” is a multi-step initiative built upon public and private partnerships: the Well Done Foundation identifies a high-emitting orphaned and abandoned oil or gas well and qualifies it through a rigorous measurement and monitoring regiment, bonds it with the regulatory body, and then launches a campaign to raise funds to plug the well and restore the impacted surface areas. Working closely with the surface landowners, WDF develops a “plugging plan” and obtains a permit from the state for the project. Next, WDF identifies and designates a corporate or individual sponsor, selects a team for the downhole and surface work, and executes the project to successful completion.

About the Well Done Foundation

Formed in 2019, the Well Done Foundation enables the oil and gas industry to partner with the conservation community to create an alternative pathway to success that benefits all. The Well Done Process, which does not include any public funding, creates a strategic partnership among regulators, surface owners and adoptive parties, leading to a safe and seamless system that provides cost-effective and lasting results that improve the environment while working with the industry in a transparent structure that delivers value to its Triple Bottom Line: community partnerships (people), environmental responsibility (planet), and economic benefits (profit). Montana’s Golden Triangle Region is home to some of the richest soil and most productive growing acres in the United States. The Well Done Foundation works with its partners to transition the orphaned well sites into their next levels of service. For more information, visit https://welldonefoundation.com/.

About Origination

HB2 Origination LLC is a Nashville, TN-based company with offices in Houston, TX, that operates oil and gas assets in the Austin Chalk and Eagle Ford formations in the Giddings Field near Austin, Texas.

 

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