Houston, Texas and Tulsa, Oklahoma – June 26, 2024 – Occlusion Solutions, a leading provider of decommissioning operations for the oil and gas industry, is shaping the future for oil and gas well retirement by strategically incorporating Envana Software Solutions emissions management into their retirement solution. Occlusion focuses on innovation to provide a safe, efficient, and environmentally responsible end-to-end solution for end-of-life assets. This collaboration with Envana helps Occlusion meet increasing expectations for emissions reporting from well retirement services and ensures compliance with state emissions management requirements.
"We're moving beyond outdated methods, ensuring safe and economically feasible operations. With the integration of Envana, we're not just plugging wells, we're optimizing our clients’ sustainability outcomes," says Michael Orr, Founder and CEO of Occlusion Solutions.
The Occlusion Solutions team differentiates itself from traditional decommissioning providers by applying modern technology toward the retirement of oil and gas assets. Leveraging Envana helps support a robust data collection and analytics process that maximizes emissions reduction and enhances economics for Occlusion and its customers. Occlusion utilizes emissions data to quantify, then prioritize, the emissions impact of abandoning any set of wells. Once abandoned, Occlusion applies post-remediation monitoring to validate the successful plugging operation. Finally, operational data is captured, analyzed, and distributed for regulatory compliance and commercialization via carbon credits.
"Our industry is ripe for disruption, and our collaboration with Envana enables us not only to meet but exceed market expectations in emissions management. Our profitability is now intrinsically tied to our commitment to sustainability," added Orr.
Occlusion Solutions leverages its deep industry knowledge and the latest digital solutions, including Envana emissions management SaaS (Software as a Service), to create long-term value. Envana’s comprehensive solution enhances the productivity of plugging operations, optimizes costs, and streamlines end-to-end processes to align with market expectations and emissions management requirements.
"We are thrilled to support Occlusion Solutions in their innovative approach to well retirement. Envana's emissions management SaaS not only ensures compliance but also gives companies a competitive edge, ultimately contributing to their profitability," stated Nagaraj Srinivasan, Lead Board Director of Envana and SVP of Halliburton Landmark, Halliburton Consulting and Halliburton Digital Solutions.
“We’re excited to help tackle the problem of retiring late-life and abandoned oil and gas wells,” stated PR Panigrahi, Managing Director and Head of Energy and Decarbonization Investments Siguler Guff and Lead Board Director of Envana. “The EPA estimates there are 3.7 million abandoned oil and gas wells in the USA; these wells emit a material amount of methane. Envana is proud to partner with Occlusion which is working to address this challenge right in our backyard.”
Occlusion Solutions is a decommissioning service provider comprised of oil and gas industry professionals with extensive global experience. The Occlusion innovative Go2Green™ process revolutionizes well retirement, offering efficiency, predictability, and real-time adaptability. For more information about Occlusion, please visit https://occlusion.solutions.
Envana provides emissions management Software-as-a-Service (SaaS) solutions to measure, track, forecast, and report auditable greenhouse gas emissions data in the oil and gas industry and beyond. Formed as a joint venture between Halliburton and Siguler Guff—a leading private markets investment firm—Envana is committed to providing industry with the solutions to understand their emissions, help meet their reduction goals, and unlock the value of sustainable operations. For more information about Envana’s oil and gas emissions management solutions, visit www.Envana.com.
###
Contact: S. Lechin