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Production / Operations

Zefiro Methane Subsidiary Begins Work on its Second-Largest Orphan Well Project Valued at Approximately USD $4.5 Million

By The Northwire Desk — AI Analysis Feb 19, 2026 · 07:31 ZEFI · 0.41 ZEFIRO METHANE CORP.
ZEFI · Price

Executive Summary

  • Zefiro Methane Corp.’s subsidiary Plants & Goodwin, Inc. (P&G) has been awarded the Wood 12F orphan‑well plugging project in Wood County, Ohio, representing approximately US$4.5 million of expected revenue from federal funding.
  • To date P&G has plugged 5 of the 37 wells, generating about US$600 k in revenue, and will have six rigs operating on the site by next week.
  • Combined with two other Phase‑1 Formula Grant projects, P&G now holds ≈US$5.51 million in Ohio grant funding—about 37 % of all IIJA Phase 1 funds awarded to the state.

Key Details

  • Project Scope: Wood 12F consists of 37 orphan wells in Wood County, Ohio (near Bowling Green).
  • Revenue Expectation: Approximately US$4.5 million from federal funding for the Wood 12F contract.
  • Current Progress: 5 wells plugged → US$600 k revenue realized; six rigs scheduled to be active (five plugging, one pre‑plugging conductor casing).
  • Historical Context: In June 2025 Zefiro secured a separate US$19.6 million, three‑year CMAR contract for high‑priority marginal wells in Ohio. Wood 12F is the second‑largest orphan‑well project for P&G (largest was NY Phase 1 grant generating ~US$8 M).
  • Cumulative Grant Funding: Including two other Ohio Phase 1 Formula Grant projects, total awarded to P&G ≈ US$5.51 million, representing ≈37 % of the state’s allocated Phase 1 funds (total allocation US$57.7 M; ~US$15 M awarded to date).
  • Operational Detail: One rig will place conductor casing outside existing surface casing to maintain wellbore integrity and protect groundwater.
  • Strategic Quote – Luke Plants, SVP & P&G CEO: Emphasized the “central supply point” model for economies of scale, positioning the company to capture a share of the ≈US$4 billion remediation pipeline anticipated under the IIJA.

Notable Quotes

“We believe that this model of winning large projects and attacking them with maximum resources for quick turnaround will be the blueprint for unlocking shareholder value for ZEFI shareholders in the face of nearly USD $4 billion of remediation projects still to come under the IIJA.” – Luke Plants, Senior Vice President of Corporate Development & P&G CEO.

Read the original news release →

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