Zefiro Methane Corp. (Cboe Canada: ZEFI) is excited to announce that its subsidiary, Plants & Goodwin, Inc. ("P&G"), has been awarded the scope of work for the Wood 12F orphan well plugging project in Ohio's Construction Manager at Risk ("CMAR") program for orphan wells.
The Wood 12F project encompasses 37 orphan wells situated in Wood County, Ohio, close to the college town of Bowling Green, which has a population of around 30,000 residents. As of now, P&G has successfully plugged five of these wells, generating approximately USD $600,000 in revenue.
In June 2025, Zefiro announced that P&G had been designated as the prime contractor for a USD $19.6 million three-year CMAR contract in Ohio, aimed specifically at plugging and abandoning high-priority marginal wells. The Wood 12F contract represents an additional revenue opportunity of approximately USD $4.5 million, which Zefiro expects to realize from federal funding for this work.
Wood 12F stands as the second-largest orphan well project ever undertaken by P&G, following its successful project under New York's initial grant funding from the Infrastructure Investment and Jobs Act ("IIJA"), which generated around USD $8 million in revenue.
By next week, P&G will have six rigs operational on Wood 12F, with five rigs focused on cleaning out and plugging wells, while the sixth rig will prepare the sites by placing conductor casing outside the existing surface casing. This vital step preserves wellbore integrity and safeguards groundwater.
Moreover, P&G has been awarded two additional federally funded projects in Ohio under the Phase 1 Formula Grant from the IIJA, contributing USD $1,015,550 in revenue. In total, between these projects and Wood 12F, P&G will receive approximately USD $5.51 million in Phase 1 Formula Grant funds for Ohio, reflecting a significant share of the funding allocated to the state in July 2023.
Luke Plants, Senior Vice President of Corporate Development and CEO of P&G, noted, "With a growing portfolio of projects awarded to P&G by government agencies across numerous U.S. states, we are thrilled with our competitive edge. Our strategy for the Wood 12F project includes establishing a central supply point for essential materials, enhancing our efficiency and profitability compared to smaller contractors."
Plants further stated, "We believe that our model of securing large projects and deploying maximum resources will unlock significant shareholder value for ZEFI investors, especially with around USD $4 billion of remediation projects anticipated under the IIJA. This growth is a testament to our dedicated crew members and management teams, who have been pivotal in capitalizing on these opportunities to assist in the cleanup of orphaned wells across the country."
As Zefiro continues to focus on methane abatement and environmental sustainability, the company is positioned as a key player in the evolving market of environmental services. For more insights on this project and others, visit Inside Ticker.