Zefiro Methane Corp. Joins Gas & Oil Association of West Virginia
The Company’s membership in the trade association follows recent operational capacity investments in the Appalachia region.
VANCOUVER, JULY 27, 2023 - 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., is pleased to announce that it has been granted membership in the Gas & Oil Association of West Virginia (“GO-WV”). A trade organization representing approximately 600 companies operating in the state, GO-WV provides advocacy resources, employee benefit support, and a host of other commercial growth focused benefits to their members. This announcement also comes after a series of investments by Zefiro to bolster its operational capacity throughout Appalachia, highlighted by its recent acquisition of a leading regional oil and gas well plugging operation.
According to the latest expert projections, there are more than 4,600 abandoned wells throughout West Virginia, which often leak methane gas that can be up to 84 times more hazardous than carbon dioxide emissions. Following a recent $25 million federal grant from the Infrastructure Investment and Jobs Act to help more communities in the state plug these sites, Zefiro’s membership in the GO-WV association will help the Company connect with key stakeholders and share ideas on how both government agencies and private entities can effectively tap into increased levels of available funding to plug more sites.
“For too long, uncapped oil and gas wells have threatened the farmland, water sources, and air quality of hardworking West Virginians,” said Curt Hopkins, CEO, Zefiro Methane Corp. “Zefiro is committed to helping end this toxic cycle, and we look forward to engaging with other GO-WV members to help more communities throughout the state tackle this long-standing problem.”
Zefiro’s efforts to join GO-WV were led by Jeff Frase, Zefiro’s President of Corporate Development, and carried out due to West Virginia’s status as an innovation hub for the energy sector and the strategic importance of fortifying the Company’s presence in the Marcellus and Utica shale regions. Mr. Frase joined Zefiro in 2021 to launch a new chapter in a distinguished career that has seen him lead banking and oil trading divisions at several of the world’s most prominent financial institutions, including serving as Goldman Sachs’ Managing Director of Global Crude Oil and Derivatives and as J.P. Morgan’s Managing Director and Head of Global Oil. Mr. Frase also previously served as co-CEO of Noble Group, a commodity trading firm that sold its oil sector portfolio to Vitol in 2018 for $1.4 billion.
“As an increasing number of our oil and gas industry partners seek to remediate the orphaned oil and gas wells on their balance sheets, it is critical that Zefiro strives to work with committed government and private sector partners to help address this ongoing public health concern,” said Jeff Frase, President of Corporate Development, Zefiro Methane Corp. “GO-WV members have long been on the frontlines of the movement to confront this unique threat to our natural resources, and we are excited to help make progress on this complex issue with our industry partners in the years ahead.”
On behalf of the Board of Directors of the Company,
ZEFIRO METHANE CORP.
Curt Hopkins, CEO
For further information, please contact:
Zefiro Investor Relations
About Zefiro Methane Corp.
Zefiro develops methodologies and originates carbon credits to reduce methane emissions, working with corporations and government agencies to plug orphaned oil and gas wells across the United States. With an executive leadership team including members of the former carbon market unit at J.P. Morgan and a decommissioning crew of approximately 100 persons, Zefiro partners with key stakeholders to protect natural resources and service the unprecedented global demand amongst organizations striving for net zero.
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