Wyoming Patent of the Month – January 2024
The oil and gas industry has long grappled with the challenges of associated gas and produced water management at extraction sites. Ecopwrs, LLC designs the technologies needed to effectively manage and stop flaring, revolver wasted resources, and create electricity. Recently, the company has been granted a patent for the integrated management of associated gas and produced water at oil well extraction sites.
At the heart of Ecopwrs’ invention is a comprehensive solution for managing the complex mixture extracted from oil wells. This system incorporates a slurry pipe, a liquid-gas separator, and an electricity generator into a seamless workflow.
The liquid-gas separator plays a pivotal role, segregating gas, liquids, and solids. The conditioned gas undergoes a dual fate – it either fuels an electricity generator, contributing to on-site power needs, or it heads to a gas control valve and flare stack, mitigating the environmental impact of excess gas. This dynamic allocation is orchestrated by a sophisticated controller, intelligently responding to real-time conditions.
Produced water, a byproduct laden with environmental challenges, finds its resolution in Ecopwrs’ system. The produced water holding tank channels liquids to a produced water reduction system. Here, the ingenious use of waste heat from the generator comes into play, efficiently evaporating the water. The result is twofold: water vapor for further utilization and concentrated wastewater for responsible disposal.
But Ecopwrs doesn’t stop there. The system introduces a freshwater recovery mechanism, collecting water vapor and condensate to replenish a freshwater holding tank. This not only addresses the water scarcity concerns in arid regions but also promotes sustainable water use in oil extraction.
The invention doesn’t just solve the immediate challenges; it anticipates the fluctuating nature of gas and water volumes in oil extraction. The controller dynamically adjusts gas routing, ensuring continuous efficiency over the well’s operational life. The system even adapts electricity generation rates based on demand, diverting excess power to cryptocurrency mining, data processing operations, grid contribution, or storage battery charging.
Ecopwrs’ creation is not just a technological marvel; it’s an eco-friendly powerhouse. By transforming waste into valuable resources, it propels the oil and gas industry towards sustainability and efficiency, setting a new standard for responsible extraction practices.
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The Research & Experimentation Tax Credit (or R&D Tax Credit), is a general business tax credit under Internal Revenue Code section 41 for companies that incur research and development (R&D) costs in the United States. The credits are a tax incentive for performing qualified research in the United States, resulting in a credit to a tax return. For the first three years of R&D claims, 6% of the total qualified research expenses (QRE) form the gross credit. In the 4th year of claims and beyond, a base amount is calculated, and an adjusted expense line is multiplied times 14%. Click here to learn more.
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