GreenWell Power to re-develop oil, gas wells

GreenWell Power (GWP) has agreed to jointly develop an electricity generating project with Houston-b

The agreement calls for the re-development and re-completion of 200 existing oil and gas wells in Mississippi and Texas. The companies will convert them into electrical power producers using GWP's Linear Power Technology.

Free Green Energy will provide required capital costs for this project and GWP will contribute its North American license for the technology. This project is expected to generate base load electrical power of up to 400MW. The total capital cost is estimated to be $280m.

Most of these wells will be end-of-life wells that have exhausted their hydrocarbon reserves. Each well will be re-engineered as productive, high-pressure and high-volume water well. This energy flow passes through the proprietary Linear Driver Engine, which is then harnessed and converted to base-load electric power. Once the energy has been extracted the water is re-injected into a lower pressure rock formation in the earth.