Climate Transformed Ventures
SOLVING ORPHANED OIL AND GAS WELL METHANE LEAKAGE AT SCALE
3.8 million
Orphaned / Idle Oil and Gas wells
$200bn+
Unfunded Liability for Government
80 times
Methane's Potency v CO2
What We Do
Work with State Government
We are currently in discussions with CalGEM, California's Oil and Gas regulator, which faces growing liabilities from orphaned wells and insolvency risks from non-compliant operators.
Cap Oil and Gas Wells
CTV has partners with WSP, the world's largest environmental engineering firm to provide scalable solutions to cap 1000 wells per year by 2028
Sell Carbon Credits
Our revenue is generated by the private capping of orphaned oil and gas wells, funded by offtake agreements from companies looking to purchase Methane Abatement Credits.
California Case Study
California faces budget pressure not only from its existing inventory of orphaned wells but also from potential liabilities from insolvent operators who cannot manage their commitments to cap their portfolio of idle wells. Increased bonding requirements will be essential to ensure that future Californian taxpayers are not burdened with the cost of capping, but it does create the risk that struggling operators do not have the financial resources to meet these commitments. Finding ways to encourage private capital to acquire dle wells for capping would prevent these wells from becoming the responsibility of CalGEM and the California taxpayers.
