Greka Set to Lead the Way as Popularity of CBM Continues Mounting across the Industry
As energy independence becomes more and more important, an increasing number of companies have started turning towards CBM as a new, clean and viable source of fuel. On June 26, 2012, Canadian Energy Partners has announced that it has added approximately 230 bcf of potential CBM source to its reserves. At the same time, CBM Asia has reported that its second test well has confirmed that the gas content at the Kutai West CBM well is capable of generating an average of 178 scf/ton on an as-received basis. Taking into account that CNPC (China National Petroleum Corporation) has also announced of its intentions to push for more CBM exploration and acquisition, it is obvious that the energy industry is finally starting to embrace CBM as both a viable and an extremely lucrative field to expand into.
CBM, or coalbed methane, is the cleanest burning fossil fuel known to man. While in the past, it was the bane of miners, now it is the energy source of the future. It is found in various quantities in coalbeds around the world and could very well
be the answer to solving many environmental concerns that world leaders are striving to address.
The CBM extraction process differs from region to region. In China, where Greka has been operating since signing the production sharing contract at the Great Wall in 1997, CBM is often located in brittle coalbeds that previously were inaccessible. Now, with advanced drilling technology from Greka, this massive source of energy can finally be tapped.
Greka’s sets a pioneer example of other companies to look to this amazing source of energy as a long-term future investment.
Randeep Grewal, Greka Chairman and CEO quoted Greka “has a significant first mover advantage in the application of specialist LiFaBriC horizontal drilling methodology in the exploitation of CBM in China.”
The first mover advantage proved to be instrumental in helping Greka retain a powerful competitive advantage in the industry and remain as the industry leader. At the same time, with more and more companies devoting resources towards CBM, Greka will be able to enter into a new era of cooperation with more partners and seek out new opportunities wherever they may arise.