Page 11 - NorthAmOil Week 38 2022

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to deliver the most comprehensive capabilities MOVES ENERGY TRANSITION
for subsurface data – in alignment with
the emerging requirements of the OSDU™ Silver Hill Energy Caddo Sustainable
Technical Standard, a new open industry
standard for energy data – the Enterprise Partners closes $1.02bn Timberlands announces
Data Solution makes data accessible on an
unprecedented scale for the global energy fund focused on direct first carbon capture and
industry.
This technology enables customers to investments in premier oil storage transaction,
integrate subsurface data with technologies
and workflows from multiple vendors. It is and gas basins across the targeting permanent
a single, open and interoperable platform
with embedded artificial intelligence (AI) US sequestration of more than
and powerful data management tools,
which support and accelerate scalable, data- Silver Hill Energy Partners, announced 9mn tonnes of CO2 annually
driven decision making at all levels of the today that it has closed the franchise’s third
organisation. partnership and first institutional private Caddo Sustainable Timberlands (CST), the
Microsoft Energy Data Services is a fully equity fund, Silver Hill Energy Partners III, largest private timberland owner in Texas,
managed, enterprise-grade OSDU data representing total capital commitments of has announced it has entered into its first
platform co-built with domain expertise from $1,020,000,000. agreement for the evaluation and potential
Schlumberger, which powers the Enterprise The partnership has formed Silver Hill development of a carbon capture and storage
Data Solution. Supported by a global network Energy Partners III, Silver Hill III Midstream (CCS) project on approximately 27,000 acres
of specialist development centres around the and other regional affiliates, which is focused of CST’s holdings in Texas.
world including the US, India and Europe, on the direct acquisition and development of The project aims to permanently store
the companies work together to continuously operated onshore oil, natural gas and related carbon dioxide (CO2) in subsurface geologic
bring new capabilities to market, as well as to infrastructure assets in premier basins across formations through a process that is not
provide sales, service and technical support. the US. associated with enhanced oil recovery, while
“A global cloud-based data solution, “Silver Hill is strongly committed to CST continues to sustainably manage the
developed by Schlumberger and powered responsible and environmentally-conscious timberland on the surface.
by the Microsoft Cloud, means the energy development of energy resources in the CST’s timberland has the potential to
industry can confidently and fully embrace United States,” said Silver Hill Founder, offer suitable subsurface geology for storage
its digital transformation,” said Rajeev president and CEO Kyle D. Miller. “Through of CO2. It is also located close to both
Sonthalia, president, Digital & Integration, our direct partnership with like-minded existing and planned CO2 transportation
Schlumberger. “Together, Schlumberger’s institutional partners, we are uniquely and injection infrastructure and sources of
energy and subsurface data expertise and positioned to make rapid decisions as CO2 from industrial emitters. The agreement
Microsoft’s experience in scaling cloud-based attractive oil and gas assets become available is the first step in CST’s strategic vision for
data solutions in an open interoperable data for acquisition.” leasing and helping develop multiple CCS
platform, have successfully unlocked the Miller added: “We have a tenured, projects across its 889,000 acres in Texas and
full potential of data. Accelerating time to multi-disciplinary team of leaders who have Louisiana.
value from AI and digital solutions creates experience building and managing large- Patrick Chambless, chief financial
significant new opportunities to increase scale oil and gas companies; operating and officer of CST, said: “We are excited to
productivity and boost performance. This is developing oil and gas assets; and sourcing, explore this opportunity to unlock this new
the future of data management for the energy evaluating and underwriting oil and gas potential dimension of our timberland asset.
industry.” investments. I particularly want to thank our This agreement is part of CST’s broader
“A critical aspect of the energy transition partners for providing their full support as commitment to delivering significant climate
process is harnessing data solutions that we continue to grow this strong franchise and environmental impacts, including
improve decision making and increase with Silver Hill III. Our goal, as always, is to through CCS, carbon removals, renewable
operational efficiency,” said Scott Guthrie, generate compelling risk-adjusted returns energy development, mitigation banking and
executive vice president, Cloud + AI Group, and outcomes for all of our stakeholders, conservation easements.”
Microsoft. “The Schlumberger Enterprise including our investing partners, the CADDO SUSTAINABLE TIMBERLANDS,
Data Solution, powered by Microsoft Energy communities in which we operate and the September 19, 2022
Data Services and built on Microsoft Azure, landowners, employees, and contractors we
enables organisations in the energy industry support.”
to gain greater control of their data and SILVER HILL ENERGY PARTNERS, September
unlock insights that accelerate their journey to 21, 2022
data modernisation.”
SCHLUMBERGER, September 21, 2022

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