Page 12 - NorthAmOil Week 17 2022

NorthAmOil NEWS IN BRIEF NorthAmOil

success and progress of our oil and natural gas acquisition is in addition to the company’s characterisation and CO2 sequestration.
industry,” said Lisa Baiton, incoming CAPP $5,100,000 acquisition in the Haynesville Enterprise would develop the CO2
president and CEO. “We are at a time when announced on April 19, 2022 and will also aggregation and transportation network
the world is grappling with the unprecedented be funded with a combination of cash on utilising a combination of new and existing
challenges of ensuring energy security and hand and borrowings under our existing pipelines along its expansive Gulf Coast
achieving GHG emission targets in the face credit facility. The company continues to footprint. OLCV, through its 1PointFive
of consumer demand for affordable and expand its presence in the Haynesville while business unit, is developing sequestration
reliable energy. CAPP will be a constructive preserving the strength of our balance sheet. hubs on the Gulf Coast and across the US,
and solution-oriented partner to address The transaction is subject to certain closing some of which are expected to be anchored by
these collective, global challenges. Canadian conditions and is expected to close by May 13, direct air capture (DAC) facilities. The hubs
producers are uniquely positioned to be 2022. will provide access to high quality pore space
secure suppliers of sustainable energy and PHX MINERALS, April 25, 2022 and efficient transportation infrastructure,
global leaders in GHG emission reduction bringing more options to emitters looking to
through the advancement of technologies.” explore viable carbon management strategies.
“On behalf of CAPP’s board of governors, ENERGY TRANSITION Enterprise and OLCV have begun exploring
I’d like to welcome Lisa on board.” said the commercialisation of the potential joint
Bryksa. “At the same time, I’d like to thank our Enterprise and Oxy Low service offering with customers.
outgoing president and CEO, Tim McMillan, “For many years, Enterprise and Oxy
for his leadership and stewardship over the Carbon Ventures sign letter have successfully collaborated in developing
past eight years. We wish Tim all the best in traditional oil and gas projects,” said AJ
his future endeavours.” of intent for Gulf Coast “Jim” Teague, co-chief executive officer of
Russell Reynolds Associates was engaged Enterprise’s general partner. “We are excited to
by the CAPP board of governors to conduct CO2 transportation and evolve that relationship with OLCV to provide
the CEO search. reliable and cost-efficient CO2 transportation
CANADIAN ASSOCIATION OF PETROLEUM sequestration project and sequestration services to advance a low-
PRODUCERS, April 27, 2022 carbon economy for the energy capital of the
Enterprise Products Operating, a subsidiary world.”
PHX Minerals announces of Enterprise Products Partners, and Enterprise to develop a sequestration solution
“We look forward to collaborating with
Oxy Low Carbon Ventures, a subsidiary
acquisition in the of Occidental, today announced they to help industrial emitters reach their net-zero
goals,” said Richard Jackson, president, US
have executed a letter of intent to work
Haynesville toward a potential carbon dioxide (CO2) onshore resources and carbon management,
transportation and sequestration solution
operations, Occidental. “We believe that
PHX Minerals today announced a mineral for the Texas Gulf Coast. The joint project our low-carbon strategy enhances Oxy’s
and royalty acquisition targeting the would initially be focused on providing business value and creates a path to net zero
Haynesville play in Louisiana. PHX has agreed services to emitters in the industrial for ourselves while providing organisations
to acquire approximately 477 net royalty acres corridors from the greater Houston to everywhere with the tools they need to
located in three contiguous sections operated Beaumont/Port Arthur areas. The initiative achieve net-zero or net-negative emissions.”
by Chesapeake for aggregate consideration would combine Enterprise’s leadership ENTERPRISE PRODUCTS OPERATING AND OXY
of $4,300,000 in cash from a private seller position in the midstream energy sector with LOW CARBON VENTURES, April 25, 2022
subject to customary closing adjustments. The OLCV’s extensive experience in subsurface

P12 www. NEWSBASE .com Week 17 28•April•2022