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Crusoe Energy Systems Reduces Flaring of Natural Gas by 25 Million Cubic Feet Using Oilfield Data Centers in North Dakota, Wyoming and Colorado

August 16, 2019

DENVER--(BUSINESS WIRE)--Aug 16, 2019--

Crusoe Energy Systems, Inc., a technology-driven flare mitigation provider, is now operating five Digital Flare Mitigation (“DFM”) systems in North Dakota, Wyoming and Colorado, and has agreed to provide up to ten additional systems for deployments in Montana, Wyoming and North Dakota by the end of 2019. Across its existing projects, Crusoe has already eliminated more than 25 million cubic feet of natural gas flaring, significantly reducing air emissions for local communities as well as regulatory challenges faced by oil and gas companies.

Crusoe marries technology-empowered solutions with one of the booming oil industry’s greatest environmental challenges. Crusoe uses gas that would have otherwise been burned in the air as a “flare,” and instead powers modular, mobile data centers designed specifically for the oilfield. In addition to reducing waste, this solution can also help both oil companies and pipeline operators to significantly reduce emissions.

Key Points

Crusoe’s operational milestones demonstrate a successful, cost-effective solution for remote natural gas flare mitigation at the wellhead with reliability and scale:

Cully Cavness, President of Crusoe said: “The Crusoe team is passionate about our mission to provide a reliable and scalable solution to routine flaring throughout North America. We are proud of the operational and environmental benefits achieved for our upstream clients as well as local communities, and we are committed to supporting our oil and gas clients in the shared goal of more efficient and clean energy production. The Crusoe team is growing quickly, and together we are focused on scaling this business because each Crusoe project in the field translates into a significant reduction of resource waste and emissions. That is a very motivating mission for our team.”

Terry Eichinger, VP of US Operations and Engineering at Enerplus Corporation said: “At Enerplus, we promote creative and innovative thinking, and leverage technology to drive value. Crusoe’s work is a good fit for our approach. We worked with them to identify a location without gas pipeline service that would potentially benefit from their digital flare mitigation technology. Following a two-well pilot project, Crusoe’s system has increased our ability to capture gas by approximately 400,000 cubic feet per day.”

Scott Nolan, Partner at Founders Fund said: “Crusoe’s digital flare mitigation solution has quickly proven itself as a scalable, reliable, environmental and cost-effective solution. By marrying the power demand of today’s digital computing platforms with the gas glut faced by America’s shale producers, Crusoe creates the type of win-win that we’ve seen change industries before. We’re excited to be backing the Crusoe team as they expand their digital flare mitigation services across the oil and gas industry.”

About Crusoe Energy Systems Inc.

Crusoe Energy Systems provides innovative solutions for the energy industry. By converting natural gas to energy-intensive computing, Crusoe’s Digital Flare Mitigation service delivers an environmentally sound way to create a beneficial use for otherwise wasted natural gas. Crusoe offers solutions to solve the gas flaring challenge for oil producers without upfront cost or operational complexity. Crusoe currently has flare mitigation projects operating in Wyoming’s Powder River Basin oilfield, Colorado’s Denver-Julesburg oilfield and North Dakota’s Bakken oilfield. Systems are scalable up to millions of cubic feet per day and can be deployed anywhere in the United States or Canada.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190816005052/en/

CONTACT: Chase Lochmiller

CEO and ChairmanCully Cavness

Presidentinfo@crusoeenergy.com

KEYWORD: NORTH DAKOTA COLORADO WYOMING UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: DATA MANAGEMENT MANUFACTURING TECHNOLOGY OIL/GAS SOFTWARE ENERGY ENVIRONMENT ENGINEERING

SOURCE: Crusoe Energy Systems, Inc.

Copyright Business Wire 2019.

PUB: 08/16/2019 10:00 AM/DISC: 08/16/2019 10:01 AM

http://www.businesswire.com/news/home/20190816005052/en