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Zefiro Subsidiary P&G Secures Award for Well-Plugging Project Near Columbus, Ohio
Globenewswireยท 2025-07-24 11:30
Core Insights - Zefiro's subsidiary, Plants & Goodwin, Inc. (P&G), has secured multiple state-funded contracts in Ohio, including a recent project worth USD $522,233 for orphan well remediation in Morrow County [1][2][4] - The company has been awarded a total of USD $20.02 million in contracts this year, including a USD $19.6 million contract for plugging and abandonment management [1][4] - Zefiro's growth in environmental remediation services is a key driver for shareholder value, with ongoing initiatives in emission offset credits [3] Contract Awards - P&G was awarded a USD $522,233 contract for the Morrow 8 project, which involves plugging four orphan wells and excavating two others [2] - Earlier in 2025, P&G received a USD $19.6 million contract for a similar project in Belmont County, further solidifying its position in Ohio [4] - The company has remediated 28 wells in 2025 and has 23 additional wells under contract [5] Market Context - The Ohio Department of Natural Resources (ODNR) reported a significant increase in orphan well plugging, from 15 wells in the 2017 fiscal year to 478 in 2025 [5] - Zefiro's P&G has over 100 crew members and is recognized as a leader in oil and gas well remediation in the Appalachia region [5][6] - The Columbus metro area, with a population of over 2.1 million, highlights the urgency of addressing the unplugged well crisis [7] Company Overview - Zefiro Methane Corp. specializes in methane abatement and aims to be a significant player in the environmental services sector [8] - The company is focused on creating long-term economic, environmental, and social returns through innovative solutions for methane leaks [8]