CALGARY, Oct. 8, 2015 /CNW/ – Kineticor Resource Corp. (“Kineticor”) is pleased to announce that they have entered into an agreement with Surge Energy Inc. (“Surge”) (TSX: SGY) to provide a second flare gas to power facility near Shaunavon, Saskatchewan. The project, which is expected to come online in early 2016, will significantly reduce Surge's electricity costs by converting associated gas from oil production into electricity for use onsite.
This project is expected to generate all the power required for operations onsite, thus eliminating any exposure to the rising costs of power in the province. Not only will this project provide meaningful cost savings for Surge, but it will also provide enhanced reliability while capturing gas that is currently being flared.
“We are looking forward to continuing our partnership with Surge as this project provides a clear demonstration of how onsite power generation can be used to reduce power costs while providing an environmentally friendly solution to flaring” – Andrew Plaunt, Kineticor President & CEO.
About Kineticor Resource Corp.
Founded in March 2013, Kineticor is a Calgary, Alberta based energy services company, focused on providing customized and reliable on-site power generation solutions across Canada. Kineticor purchases, develops, and owns power projects that create economic advantages for their clients, which include flare gas to power, baseload power, and cogeneration.
SOURCE Kineticor Resource Corp