In the vast shale play of the Bakken formation, based mainly in North Dakota, the high price of oil and the glut of natural gas have made the former far more financially rewarding. Additionally, oil can be stored easily while natural gas cannot. Thus, if a new well starts production in an area that is not near a natural gas pipeline, the natural gas that is produced is flared (burned).
This presents two problems. First, despite the current low cost of natural gas, it still has economic value. So a profitable resource is literally being burned away. Second, flaring creates pollution.
The function of entrepreneurs in a market economy is to solve problems and generate profits greater than the overall general rate of profit. Brian Cebull of G2G is an outstanding example of a creative entrepreneur.
“G2G is a service company providing mobile flare gas treatment for the oil and gas industry.
G2G reduces environmental impacts by significantly decreasing emissions from flare stacks.
G2G creates value for producers, royalty owners, and the environment.”
According to this article, there are currently 1094 Bakken wells that are not hooked up to a pipeline. G2G has clearly tapped into a large and profitable market. Considering the numerous shale plays worldwide, the market exists for G2G to be a high growth company.