Capping Methane Leaks

This project provides a verified carbon credit that can be retired on purchase.

Tradewater permanently stops methane emissions by finding and plugging leaking orphaned oil and gas wells. Methane is a potent non-C02 gas with a global warming potential of 84 times that of C02 over 20 years and is responsible for at least 25% of the global warming we are experiencing today. It is also a short-term climate pollutant, with non-C02 gases accounting for nearly half of all global warming from human activity since 1970, which is why preventing the release of such gases is crucial to mitigating climate change alongside C02 reduction and removal.

A significant root cause of methane leaks is abandoned oil and gas wells, with an estimated 1 million in the US alone. While regulation requires companies to plug these wells after production, many companies go bankrupt or abandon their wells before doing so. Tradewater meets a critical and unmet need by finding these wells, quantifying their methane emissions, and permanently plugging them to stop current leaks and prevent future methane releases. Their credits are highly credible and in line with the American Carbon Registry.

Tradewater conducts two rounds of field tests to confirm methane releases and then coordinates with landowners and agencies to plan plugging activities. Tradewater hires qualified local contractors to remove surface equipment, fill wells with cement, and remediate the land, permanently stopping current and future methane leaks. Tradewater conducts all the work and provides all the necessary financing. It is additional to government funded plugging programs and thus extends the use of government funding to plug more wells.

Tradewater conducts its work using a carbon offset protocol established by the American Carbon Registry (ACR) for orphaned oil and gas wells. Independent verification bodies verify their work, resulting in carbon offset credits issued by ACR. Because they directly measure the methane coming from each well, the environmental benefit is accurate.

15 Jul 2024

USA