Page 11 - NorthAmOil Week 50 2022

NorthAmOil NEWS IN BRIEF NorthAmOil

Denbury announces new future capacity of our network. We look 275mn metric tonnes of CO2. The site
represents Denbury’s first planned CO2
forward to developing this site as we aim to
CO2 sequestration site in provide the most efficient and reliable CO2 sequestration location in Mississippi,
expanding its storage portfolio that already
platform in the US.”
SW Louisiana DENBURY, December 13, 2022 includes sites along the U.S. Gulf Coast in
Alabama, Louisiana, and Texas. Denbury
Denbury today announced a definitive Denbury and Weyerhaeuser intends to drill a stratigraphic test well on
agreement with a large landowner in the site in 2023 to support the company’s
southwest Louisiana for the future announce agreement for geologic interpretation and progress Class VI
development and operation of a dedicated permitting with the EPA.
CO2 sequestration site. The 31,000-acre land CO2 sequestration site in Nik Wood, Denbury’s senior vice president,
position is located in Allen, Beauregard and CCUS, commented: “Our agreement
Vernon Parishes, approximately 25 miles Mississippi with Weyerhaeuser is a significant step in
north of Denbury’s Green Pipeline. Denbury building out the Gulf Coast’s leading CO2
estimates that there is potential to store up Denbury and Weyerhaeuser today announced transportation and sequestration network.
to 250 million metric tons of CO2 in the site, an agreement for the evaluation and potential The location of this Mississippi site, directly
with first injection planned as early as 2026. development of a CO2 sequestration adjacent to our existing pipeline network,
The strategic location of the site provides site in Mississippi. The lease agreement provides for a very efficient development
nearby storage potential for the heavy provides Denbury with the exclusive right to and increases the overall flexibility and
industrial areas of Beaumont and Port Arthur, develop and operate approximately 16,000 capacity of our operations. We now have the
Texas, and Lake Charles, Louisiana. In close acres of subsurface pore space owned by pathways to move industrial-sourced CO2
proximity to the dedicated CO2 sequestration Weyerhaeuser in Simpson and Copiah from the Mississippi River Industrial corridor
site is more than 60mn metric tonnes per year Counties in Mississippi. The site is located north on our NEJD pipeline, west on our
of existing emissions. directly adjacent to Denbury’s NEJD Pipeline Green Pipeline, and east to our previously
Nik Wood, Denbury’s senior vice in Mississippi, approximately 35 miles announced planned storage in southeast
president, CCUS, commented: “Denbury has south of the company’s Jackson Dome field. Louisiana. We look forward to working with
unparalleled experience and CO2 pipeline Denbury is planning to utilise the site to Weyerhaeuser as we develop the safest, most
infrastructure in the US Gulf Coast for the permanently sequester industrial CO2 in reliable and efficient CO2 transportation and
transportation and storage of CO2. Today’s secure underground geologic formations. storage system in the Gulf Coast.”
announcement adds an important piece in the Weyerhaeuser will continue to manage the DENBURY AND WEYERHAEUSER, December
development of our CCUS business, providing timberland acreage as a sustainable working 12, 2022
another significant future storage site in close forest.
proximity to our pipeline infrastructure, Denbury estimates the site will have total
which naturally expands the reliability and sequestration capacity of approximately

Week 50 15•December•2022 www. NEWSBASE .com P11