Last year was one of recovery and growth for both the oil and gas industry and EcoVapor. Driving our record growth in 2021 was a combination of improved prices for oil and gas combined with a rapidly growing focus on ESG and environmental performance.
As the world economy began to open up in the wake of the pandemic, demand for transportation fuels increased and helped buoy oil and natural gas prices across the industry, improving business conditions in general.
More specifically to EcoVapor’s value proposition, nearly every major U.S. oil and gas producer has committed to achieving net-zero emissions within the next few decades and eliminating routine flaring is a key part of those plans.
We have never been more excited about the future!
New Customer Growth
Our customer base increased by 75% in 2021, as we added small independents to supermajors and made our first sale into the growing Renewable Natural Gas industry. Installations of our equipment increased significantly from the prior year and included deployments into new regions such as the Barnett Shale, Bakken, and Uinta Basin.
Significantly Improving Environmental Performance
Our ZerO2 technology offers upstream producers a reliable solution for substantially reducing tank flaring and emissions. Installed capacity reached 51 million standard cubic feet of gas daily with the capability of removing 8,000 metric tonnes of CO2e each day. Annualized, the potential reduction in CO2e of 2.5 million metric tonnes is the equivalent of removing 540,000 vehicles from the roads!
To put things in perspective, the E300 ZerO2 units operating last year in Colorado alone could help capture enough tank vapor gas to heat half the homes in Denver and Arapahoe counties! Keeping natural gas and energy-rich tank vapors in the pipe is not just good business, but it represents a significant reduction in emissions.
Clearly, our solutions are helping operators meet their ESG targets, increase profitability from capturing and selling tank vapors instead of flaring them and make significant improvements in air quality.
New Growth Initiatives Bearing Fruit
We also focused on two specific growth initiatives. In late 2021, we entered the Bakken Shale market through our partnership with Nodak Oilfield Services, a Williston-based service provider to oil and gas operators in the region. As a result, the first ZerO2 units in the Bakken were commissioned in the fourth quarter.
The second initiative was our entry into fast-growing Renewable Natural Gas (RNG) / biogas market, where EcoVapor’s gas treating solutions are used to purify methane generated from animal and landfill waste into commercial natural gas. We are excited about the potential of this new application of EcoVapor’s technology in the very active and growing RNG market.
More information on this initial project and market opportunity is available on our website.
ZerO2 Model E100 Unit
ZerO2 Model E100
We also released a smaller ZerO2 model called the E100. The smaller capacity model provides a life-of-well solution for gas capture, allowing operators to right-size the equipment as production naturally declines to continue the profitable capture of tank vapor over the long-term. Nearly twenty new E100 units were commissioned in the fourth quarter of 2021! The E100 gives EcoVapor a true “Life of Well” solution for cost-effectively eliminating tank flaring and emissions from first production to the end of a well’s economic life.
Check out the E100 Launch Webinar for more information.
New Product Introductions
Emissions Scout – Site Assessment Tool
Emissions Scout
The Emissions Scout is a mobile and inexpensive method for gathering operating data on environmental conditions at tank batteries.
If you do not measure it, you cannot manage it. The diagnostic tool measures pressures, flared volume and gas quality at tank batteries, allowing operators to assess and baseline actual site conditions as a part of emissions planning. Emissions Scout helps us inform and educate customers and prospects how they can eliminate all tank flaring from their production sites and facilities.
More information on the Emissions Scout is available on our website.
EcoVapor Mobile Gas Treatment Unit for Wellsite Emission Reduction
Mobile Gas Treating Unit
Finally, we delivered our first mobile gas treating trailer late in 2021. This new product allows operators to remove hydrogen sulfide and oxygen from natural gas in temporary applications such as during flowback operations, tank cleaning and well testing.
Stay tuned! More information on our mobile gas treating trailer will be coming out in early 2022.
Looking Forward
As we look forward into 2022, we are excited about our growth potential. Demand for our solutions continues to build in the upstream oil and gas sector from operators of all sizes and our recent entry into RNG opens up an entirely new market opportunity. There are several other products in the pipeline for release later this year as well.
Importantly, our team continues to grow, both in terms of expertise and size. EcoVapor has earned the enviable reputation of being a problem solver, leading companies to approach us to help them solve some of their more vexing challenges. This has led to new product ideas and innovative applications of our technology in new markets.
We credit our achievements to the dedication, adaptability and focus of our employees and partners on what is important to customers. We want to express our deep gratitude to everyone from Headquarters to our field locations for making 2021 a great year.
Happy New Year from your friends at EcoVapor!
About EcoVapor
EcoVapor Recovery Systems provides solutions to pressing oil and natural gas production problems. EcoVapor’s technical team has extensive expertise in vapor recovery processes and includes world-class engineers with an innovative approach to industry challenges. In over 120 installations in all major US basins, our patented ZerO2 solution helps oil and gas producers meet their air emissions and regulatory compliance goals. EcoVapor is headquartered in Denver, Colorado and has field locations in Greeley, Colorado and Midland, Texas.
Contact
EcoVapor Recovery Systems
1422 Delgany Street, Suite 100
Denver, CO 80202
Email: Info@EcoVaporRS.com
Phone: 844-NOFLARE (844-663-5273)
