Crbon Labs and US Venture Collaborate as Carbon Credits from Plugging Orphan Wells Gain Traction
CALGARY, AB, April 24, 2025 /PRNewswire/ - Crbon Labs Inc., a producer of premium quality carbon credits for corporate sustainability innovators, has completed the first plugging of an orphan gas well in Canada and is pleased to announce its collaboration with U.S. Venture, Inc. and its U.S. Energy® team who has acquired 100% of the corresponding High Fidelity Crbon™ credits from the project.
U.S. Energy®, a U.S. Venture company, recently recognized by Quantum Commodity Intelligence (QCI) as one of the largest carbon market intermediaries by volume, will blend the credits into portfolios across a range of geographies and technologies to help organizations achieve their sustainability goals.
Plugging wells like this one in Wainwright, Canada, immediately and permanently eliminates methane gas emissions, one of the most potent greenhouse gases (GHGs). The comprehensive American Carbon Registry Plugging Orphaned Oil & Gas Wells (ACR OOG V1) methodology used on the project provides one of the viable pathways to accelerate the permanent plugging, remediation and restoration of the more than 3 million old idle and orphan oil and gas wells across North America.
"This was the first project of its kind in Canada," shared Cory Bergh, president and CEO at Crbon Labs. "Our methane abatement efforts drive immediate impact well beyond just emission reductions. The project employed more than 60 professionals across 20 disciplines, restored the wellsite to healthy productive farmland, and distributed a portion of the project proceeds back into the community to help fund training for the local fire department."
"This project is credited with preventing ~85,000 metric tons of CO2e from entering the atmosphere over the next 20 years, and we're positioned to connect these credits with buyers," shared Mike Koel, president of U.S. Energy. "Our team has a deep tenure in marketing credits from renewable natural gas (RNG) and carbon projects in the voluntary space. We know organizations are seeking high-quality credits that allow immediate progress on sustainability goals, and through this methodology, they're supporting projects with a lasting impact."
The collaboration between Crbon Labs and U.S. Energy is an example of Canadian and American businesses working together to address a problem that knows no borders. The emissions eliminated by the project equate to one year of operation of more than 18,000 cars.
Crbon Labs' vision is to eliminate 500 million tonnes of greenhouse gas emissions, which will have a tangible impact on both global emissions and thousands of local communities.
About Crbon Labs
Crbon Labs specializes in identifying orphan, inactive and abandoned oil and gas wells in North America that emit high levels of greenhouse gases (GHGs). We plug these wells using the highest standards to immediately and permanently eliminate methane emissions, one of the most potent GHGs. Our comprehensive approach extends beyond emissions elimination, restoring sites to their natural state while strengthening local communities through strategic investments and partnerships. Emissions eliminated are translated into premium High Fidelity Crbon™ credits for corporate sustainability innovators to offset their residual GHG emissions. Crbon Labs' vision is to eliminate 500 million tonnes of GHG emissions. For more information, visit www.crbonlabs.com.
About U.S. Venture
For over 70 years, U.S. Venture, Inc. has been recognized as an innovative leader in the distribution of renewable and traditional energy products, lubricants, tires, parts, and using data-driven insights to manage energy and information in the global movement of goods. U.S. Venture delivers creative, sustainable solutions that give their customers a competitive edge, and enable the company to support the communities in which they live, work, and play. Through the values lived by their family of brands, U.S. Energy®, U.S. AutoForce, Breakthrough®, U.S. Lubricants, and IGEN®, U.S. Venture seeks new ways to drive business success while being steadfast in its commitment to making the world a better place.
About U.S. Energy
U.S. Energy, a U.S. Venture company, is a leading provider of refined products, alternative fuels, and environmental credits. Over its 70-year tenure, U.S. Energy has diversified across the energy supply chain. From energy project development, distribution, and marketing through wholesale, commercial, and retail channels, U.S. Energy partners with organizations—providing comprehensive support for a variety of fuel types. Driven to be the very best and most trusted energy solutions provider, U.S. Energy is uniquely positioned to help organizations navigate the evolving energy industry. For more information, visit www.us-energy.com.
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SOURCE Crbon Labs Inc.