Tradewater US - Plugging Orphaned Oil and Gas Wells 2

Tradewater is a B Corp and mission-based project development company that is strategically focused on the collection, control, and destruction of potent non-CO₂ greenhouse gases. Tradewater searches around the world for canisters of antiquated refrigerants and fire suppressants that are up to 10,000 times more potent than CO₂ and destroys them before they rust and leak. Tradewater also plugs orphaned oil and gas wells that are actively spewing methane and carcinogens. By using technology available at scale today to prevent emissions of some of the world’s most potent greenhouse gases, Tradewater is rapidly reducing global emissions and “hitting the emergency brake” on climate change. To date, Tradewater has permanently prevented over 7.5 million tons of CO₂e from reaching the atmosphere and has set a bold new goal of collecting, controlling, and destroying at least 3 million tons of CO₂e annually moving forward.

For this project, Tradewater is plugging 1 orphaned gas well in Greene County, Indiana to prevent methane emissions, remediate land, and improve local air and water quality. Over a 20-year period, methane has a global warming potential that is 84 times greater than CO₂. Since the Industrial Revolution, methane has caused 30% of global warming.

Orphaned wells are those where the company that drilled and operated them is either bankrupt or otherwise insolvent, leaving no company liable to plug the wells. While some federal funding has been allocated to plug these wells, it is nowhere near enough to cover the cost of plugging all existing orphaned wells in the US, making Tradewater's work highly additional. These wells are located on farms, public land, and even in backyards, leaking methane and toxic gases like hydrogen sulfide and the known carcinogen benzene. Tradewater conducts field tests to directly measure methane releases, then coordinates with landowners and state agencies to plan plugging activities. Tradewater hires qualified local contractors to remove surface equipment, plug wells per state regulations, and remediate the land, permanently stopping current and future methane leaks and returning the land to its rightful state.

Credits were generated from the plugging of orphan wells in accordance with the protocols set forth by the leading carbon registry American Carbon Registry (ACR). All ACR projects are third-party verified to ensure compliance and quality.