Underground Energy (UGE) believes that responsible natural resource development is good for our business and can have minimal impact on the environment. We are dedicated to preserving the natural beauty of the land and its biological resources. Using the best technologies to keep air and water clean and safe are top priorities.
Safety and regulatory compliance are our top priority. Our regulatory team works closely with our technical and managerial staff and with local, state and federal agencies to maintain ongoing compliance with current environmental rules and industry regulations. We also do our best to understand and accordingly address anticipated changes in environmental rules.
Our environmental team has adopted its own innovative criteria for the location and development of pods (UGE’s term for multiple wells located at one site). Internal controls concentrate on environmentally friendly exploration, siting and production techniques, constant site improvements, cleanliness, lower emissions, noise reduction and avoidance, and always a strong safety culture.
At Underground Energy, our operations begin and end with strict operation and oversight protocols and new, advanced technology designed for more efficient and environmentally safer operations. This approach protects the environment and creates more value for local communities and investors alike.
Global vs. Local Economic and Environmental Considerations
Although world energy supply and demand is complex, in simple terms Underground Energy believes that the extent of U.S. reliance on oil produced outside of North America has untenable and unsustainable economic, social and environmental costs.
Today, the United States imports half of its oil needs from foreign sources. California alone has moved from 10% to nearly 50% reliance on foreign oil since 1995. Overseas importation is costly and uncertain, upsetting domestic refining efficiencies that lead to higher costs at the gas pump. Moreover, the environmental impacts of oil tankers travelling vast distances over the world’s oceans are great.
UGE believes that responsible local production of oil is beneficial to local economies and to the U.S. economy and security, as a whole. And, like the ‘farm to table’ movement that focuses on the benefit of locally grown food being closer to market, the local production of our energy is a smarter approach because it employs local workers, pays local taxes, and is much safer and cleaner than import and transport of foreign sources.
Underground Energy is a leading practitioner of what we call Smart Oil, which is the future of oil development for our California and other operations. UGE integrates into its exploration, production and transportation methods, industry best practices and the latest environmental approaches.
As the world attempts to develop ways to transition from a hydrocarbon-dominated energy economy, the oil and gas industry has contributed and been the beneficiary of technologies that can make oil production more energy efficient and produce lower emissions. Underground Energy fully embraces emerging green energy technologies from a company values perspective, and in part because it gives us competitive cost and operational advantages. Integrating alternative energy and conservation processes into UGE’s operations lowers production costs which go to the bottom line, creating good will with investors, regulatory agencies and the public. These technologies also provide a competitive advantage for the organization by increasing oil extraction efficiency with little environmental impact.
Examples of our Smart Oil philosophy:
For exploration, UGE uses an innovative 2D and 3D seismic information gathering system that minimizes environmental impact. Use of this system has reduced permitting schedules from several months to a few weeks.
UGE will use available alternative sources of energy to fulfill our power needs, while minimizing our environmental footprint.
UGE is investigating, and will seek regulatory approval for, cost- and energy-efficient methods of transport.
The end-result of Smart Oil is an enduring social, environmental, and economic business model.