Rebellion Opens New Frontier For Methane-Emissions Abatement With ACR Issuance, ACX Listing Of Carbon Credits From Plugging Orphan Oil And Gas Wells

Rebellion Opens New Frontier For Methane-Emissions Abatement With ACR Issuance, ACX Listing Of Carbon Credits From Plugging Orphan Oil And Gas Wells - Carbon Herald

Rebellion Energy Solutions has opened a new frontier for methane-emissions abatement with the verified, validated creation and regulated exchange listing of carbon credits derived from permanently plugging orphan oil and gas wells.

Rebellion’s standard carbon credits are the first issued under carbon-credit leader ACR at Winrock International’s rigorous orphan-well plugging methodology. And, on Jan. 15, the credits became the first ACR-standard carbon credits listed on the ACX Carbon Market Board.

“The issuance and listing of Rebellion’s methane-abatement credits represents important progress in the approach to tackling methane emissions from what the U.S. Environmental Protection Agency estimates are millions of abandoned, derelict oil and gas wells – most of which lack any solvent owner or responsible party for regulators to assign plugging and cleanup,” said Staci Taruscio, Rebellion Energy Solutions chief executive officer.

“With this first project as an example, we believe that the generation and sale of high-quality carbon credits from permanently plugging orphan wells can develop into a sustainable source of private financing for critical methane abatement and land restoration,” Taruscio said. “We are actively working in the operations phase of other projects and expect to have an inventory of methane-abatement credits available this year. And ACR earlier this month listed Rebellion’s Heartland 2 Project for methane-abatement from plugging orphan wells.”

Rebellion on Jan. 12 received 80,782 metric tons CO2 equivalent (CO2 e) of methane-abatement credits issued by the global carbon-crediting program, ACR at Winrock International. Rebellion’s credits – for its Heartland Methane Abatement and Land Restoration Project – are the first that ACR has issued under its rigorous methodology for plugging orphan oil and gas wells.

ACR in 2023 published the world’s first methodology to leverage carbon markets to finance the plugging of orphan oil and gas wells.

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The volume of CO2 e abated in Rebellion’s Heartland Project is equivalent to more than 9 million gallons of gasoline consumed, according to the U.S. EPA’s greenhouse gas equivalencies calculator. Rebellion’s project also ties to key United Nations Sustainable Development Goals and mitigates legacy impacts for landowners and surrounding communities.

“These are the kind of high-quality carbon credits that the voluntary carbon market demands,” Rebellion’s Taruscio said. “With our above-and-beyond project rigor and ACR’s methodology, we have generated methane-abatement credits with a certain, verified and immediate positive effect that will endure.”

Maris Densmore, director of the Industrial Program at ACR, said: “This first-of-its-kind issuance is a powerful example of the positive impacts of carbon markets to reduce potent, fast-acting, short-lived climate pollutants, such as methane. The Heartland Project also demonstrates the added environmental co-benefits of preventing water and soil pollution and providing other health benefits for the community living nearby.”

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Rebellion this week listed credits from its Heartland Methane Abatement and Land Restoration Project on the ACX Carbon Market Board for trading and settlement. Rebellion’s credits constitute the inaugural listing of ACR-standard carbon credits on ACX Ltd., a leading environmental markets exchange.

“As Rebellion opens this important frontier for real methane-abatement projects, it is important to understand the global market for these ACR-issued credits and to do so in a regulated environment. Listing our credits with ACX offered us the best forum to accomplish those objectives,” said Rebellion’s Taruscio. “We believe these steps we’re taking with this first-of-its kind, orphan-well plugging project are consistent with what it takes to drive greater worldwide demand for high-quality carbon credits that are transparent, have an immediate impact and are socially conscious.”

William Pazos, co-CEO and co-Founder at ACX said, “We are honored to be the platform of choice for Rebellion Energy Solutions in bringing ACR carbon credits to the market. This collaboration strengthens our commitment to providing unparalleled access to high-quality carbon credits. Rebellion’s choice reaffirms our role as the preferred market venue for leading project developers.”

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