- Exxon Mobil Corp. is running a pilot program that uses excess natural gas that would otherwise be burned off from North Dakota oil wells to power cryptocurrency mining operations.
- It is considering doing the same at other locations around the world.
- Exxon is considering similar pilots in Alaska, Nigeria’s Qua Iboe Terminal, Argentina’s Vaca Muerta shale field, Guyana, and Germany.
Exxon Mobil Corp. is running a pilot program that uses excess natural gas that would otherwise be burned off from North Dakota oil wells to power cryptocurrency mining operations, and it is considering doing the same at other locations around the world.
According to our sources, the information isn’t public yet but the oil giant has an agreement with Crusoe Energy Systems Inc. to use gas from an oil well pad in the Bakken shale basin to power mobile generators used to run Bitcoin mining servers on-site.
The pilot project began in January 2021 and was expanded in July. It consumes 18 million cubic feet of gas per month that would otherwise be burned off or flared due to a lack of pipelines.
Our sources further said that Exxon, the largest U.S. oil producer, is considering similar pilots in Alaska, Nigeria’s Qua Iboe Terminal, Argentina’s Vaca Muerta shale field, Guyana, and Germany.
As per our sources, Sarah Nordin, a spokeswoman said in an email that “We continuously evaluate emerging technologies aimed at reducing flaring volumes across our operations, and Exxon expects to meet the World Bank’s call to end routine flaring by 2030″. She declined to comment on “rumors and speculations regarding the pilot project.”
There is no official announcement regarding this and Crusoe Energy Systems Inc. and Exxon Mobil Corp. both declined to comment on this.
