FORT LAUDERDALE, Fla. — Zefiro Methane Corp., which works to reduce methane emissions by plugging orphaned oil and gas wells across the country, announced that Plants & Goodwin, a leading Bradford, Pa.-based orphaned well plugging organization and a subsidiary of the company, has acquired Appalachian Well Surveys Inc., a Cambridge, Ohio-based wireline company.
As a result of this transaction, Zefiro will become the energy sector’s first comprehensive ‘end-of-life’ provider for entities seeking to meet their well retirement targets. This acquisition is the latest in a series of strategic investments by Zefiro to bolster its nationwide operational capacity.
Financial terms of the transaction were not disclosed.
The agreement specifically cements Plants & Goodwin’s incorporation of Appalachian’s current assets and experienced personnel throughout its existing operations. This includes, but is not limited to, the activation of fourteen wireline units capable of deploying various downhole tools, two mast trucks that are designed to bolster abandonment projects, and current certifications to operate explosives in every Appalachian Basin state.
“Reversing the unchecked proliferation of leaking oil and gas wells will require private sector plugging operations to optimize efficiency at each stage of their operations,” said Talal Debs, founder & chief executive officer, Zefiro Methane Corp. “This transaction is critical to helping P&G-led crews bolster their effectiveness in the field, and we could not be more excited to welcome AWS into the Zefiro family.”
His comments were echoed by Luke Plants, chief executive officer of Plants & Goodwin/ senior vice president of business development at Zefiro Methane.
“As demand for our well-plugging expertise continues to increase, it has never been more important that we invest in the resources needed to properly complete these unique projects,” said Plants. “The infusion of AWS’ talent and technical expertise will make P&G a full-spectrum service provider and ensure that our dedicated well plugging specialists can do their part to help address this public health threat.”
