(SGY-T) Kineticor Resource July 9, '15 is pleased to announce that they have entered into an agreement with Surge Energy (SGY-T) to convert flare gas into power for sale to SaskPower in SW Saskatchewan. Under the terms of this agreement, Kineticor will develop and own the power generation facility which will capture associated gas that is currently being flared from Surge’s Shaunavon oil play.
Due to recent regulations imposed under the Saskatchewan Energy and Resource Directive S-10, strict guidelines have been imposed for reducing flaring, incinerating, and venting of associated gas in Saskatchewan. Kineticor’s power generation solution allows for an economical solution for producers to eliminate flaring while creating electricity for the residents of Saskatchewan.
This project is the first of its kind under these new regulations which is a testament to Surge’s forward-thinking business strategy. Kineticor is focused on assisting oil & gas producers reduce their flaring through innovative and economical initiatives.
About Kineticor Resource Corp.
Kineticor is a Calgary, Alberta based Energy Services Company, focused on providing customized and reliable on-site power generation solutions for the resources sector. Kineticor develops and finances power projects which create economic advantages for their clients. With a focus on flare gas to power, baseload power and cogeneration, Kineticor assists in identifying effective power generation strategies that will improve the growth and development of their client’s strategic and operational goals.
For further information:
Andrew Plaunt, President & CEO,
Kineticor Resource Corp.
Phone: (403) 460 – 2489 (ext. 203),
Email: andrew.plaunt@kineticor.ca
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/kineticorresources07092015_1.pdf
Source: Kineticor Resource Corp. |
