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National Nonprofit Offers Its First Certified High-Integrity Carbon Credits from Orphan Oil and Gas Wells to Reduce Carbon Footprint and Offset Taxpayer Burden BOZEMAN, Mont. , Dec. 10, 2024 /PRNewswire/ -- Well Done Foundation (WDF), a national nonprofit whose mission is to plug orphaned oil and gas wells across the United States , announced today it is going to market with the release of 778,000 high-integrity carbon credits.
In 2019, WDF had the vision of developing a market-based solution to help tackle the need for funding the overwhelming task of plugging orphan oil and gas wells in the United States . WDF initially worked with Verra and the American Carbon Registry (ACR) and was the original sponsor of the ACR's methodology for the quantification and verification of greenhouse gas emissions reductions and removals from plugging orphaned oil and gas wells in the U.S.
and Canada , published in May 2023 . WDF is the first nonprofit organization to offer high-integrity certified carbon credits for orphan well plugging, providing a unique opportunity for businesses, organizations, and individuals to take meaningful action against climate change. As part of this initiative, WDF has partnered with Carbon Path and Cloverly , two leaders in the environmental and sustainability sectors, to ensure that the high-integrity carbon credits meet rigorous standards for certification, transparency, traceability and permanence.
"By bringing these certified high-integrity carbon credits to the marketplace, Well Done Foundation is not only addressing the urgent environmental issue of orphan oil and gas wells but also empowering businesses and individuals to play an active role in reducing carbon emissions through a market-based approach. This is a win-win for the climate, communities, and taxpayers," said Curtis Shuck , Founder and Chairman of WDF. "We are proud to be the first nonprofit to offer these high-integrity credits, and we are excited to work alongside our partners to expand and scale our impact.
" Through this market-based approach, WDF is providing a valuable opportunity for carbon offset buyers to reduce their carbon footprint while simultaneously reducing the financial burden on taxpayers who would otherwise pay for orphan well remediation. The proceeds from the sale of these high-integrity certified carbon credits will be reinvested in WDF's ongoing efforts to plug more orphaned wells nationwide, continuing the cycle of making a difference and leaving things better, one well at a time. "CarbonPath is focused on holding project developers to high scientific standards while providing buyers with the most advanced and fully transparent digital measurement, reporting and verification for all CarbonPath registered projects," said Tyler Crabtree , CEO of CarbonPath.
"We are proud to act as the registry for the Well Done Foundation in their quest to permanently stop methane pollution from the over 2 million orphaned and abandoned wells in the United States , and we hope to see awareness and support grow for tackling this critical problem." The first two projects that are listed for purchase as part of this release are: Palmer Bow Island 1-4 : 128,555 credits Palmer Bow Island 2-2 : 140,071 credits As of the December 10, 2024 , release date, a total of 268,626 credits are available for purchase out of the total 778,000 credits to be issued as part of WDF's 2023 Montana Legacy Project. These high- integrity credits represent immediate, impactful steps in the ongoing effort to reduce methane emissions and mitigate the environmental impacts of orphan wells.
"At Cloverly, we are thrilled to partner with the Well Done Foundation to advance their mission of tackling methane emissions from abandoned wells," said Jason Rubottom , CEO of Cloverly. "By leveraging our purpose-built commerce software, we aim to empower innovative project developers like the Well Done Foundation to maximize the impact of their carbon credits, making it easier than ever to drive meaningful climate action." Project Details and Additional Partners: Project Technology : Ventbuster Instruments, ABB and Sensors, Inc.
, Well Intel w/ Wildcat AI Project Team : 360 Environmental Engineering & Consulting / Precision Well Servicing Project Verifier : ALL Consulting Carbon Registry : CarbonPath Commerce Software Platform : Cloverly Project Funder : SVS Family Foundation Project Sales Partners : Youth Climate Exchange (YCX) WDF is committed to continuing its work with local, state, and federal agencies to address the critical environmental issue of orphan wells. To learn more about purchasing carbon credits and supporting Well Done Foundation's efforts to plug orphan wells, please visit welldonefoundation.org .
About the Well Done Foundation A nonprofit formed in 2019, the Well Done Foundation's mission is to fight climate change by plugging the estimated 2.15 million orphaned oil and gas wells in the United States . The WDF works with farmers and landowners, local and state government, corporations, and other nonprofits to locate the orphaned wells, measure and document methane and CO 2 emissions, plug the wells, and restore the surface areas to their original state.
For more information visit welldonefoundation.org. Media Contact: Interdependence PR [email protected] 281.
770.9084 SOURCE Well Done Foundation.
