System captures 100% of gas lift methane emissions and provides extra revenue from captured gas.
Eliminating methane emissions from gas lift is priceless, but QuickSet™ by Liftrock puts a monthly value on it. In a recent month, the company reports that the captured gas value on one 3-well pad in the Permian was $12,327 as a result of using the QuickSet skid for gas lift control.
The QuickSet system captures methane emissions from gas lift operations and repurposes them as fuel gas and or injection gas. At current prices, revenue from the captured gas is making a big difference for operators. On the Permian location, the revenue increase represented a double-digit boost in profits.
“We have a great ‘well economics’ story even at $50 oil and $3 gas, but with today’s prices, the extra income being generated is really catching peoples’ eye,” says BJ Ellis, president of Liftrock. “Eliminating emissions and getting paid for it is a win-win.”
QuickSet’s Monthly Methane Capture Report shows the volumes and values of mitigated emissions for each well. All wells are different. The report allows operators to document the mitigated methane emissions at their wells, and details fuel gas, fuel makeup gas, and captured gas on a daily basis.
On the aforementioned well in the Permian, the value of captured gas added about $400 per day in revenue. 18.26 tons of VOCs and .3620 tons of HAPs were mitigated over the month.
There are other economic benefits to the QuickSet story, including downtime avoidance, according to Ellis. QuickSet reduces maintenance events, does away with the need for liquid storage and liquid transport, and prevents compressor dump freeze-ups. The Permian location in the report saw an additional estimated savings of $3,251.25 in monthly downtime avoidance in eliminating downtime associated with dump freeze-ups.
To learn more about the economic and environmental advantages of QuickSet, visit liftrock-co.com/quickset.