Associated tags: Carbon, Partner, CCS, Lapis lazuli, Dorado, Class, VI, NYSE, CO2, Alternative Energy, Manufacturing, Natural Resources, Green Technology, Climate Change, Climate change, Ammonia, Minerals, Hosston, Louisiana, LSB, Class 6, Internal Revenue Code
Locations: NORTH AMERICA
Retrieved on:
Tuesday, February 27, 2024
SEATTLE, Feb. 27, 2024 /PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) and Lapis Energy LP ("Lapis") announced today the execution of an exclusive exploration agreement for subsurface carbon dioxide sequestration in Arkansas, Louisiana and Mississippi. The agreement covers 187,500 acres of subsurface rights owned by Weyerhaeuser and spans five potential sequestration sites, including two locations that were previously identified by Weyerhaeuser as prospective opportunities for carbon capture and sequestration (CCS) development.
Key Points:
- Exclusive two-year agreement covers 187,500 acres across Arkansas, Louisiana and Mississippi
SEATTLE, Feb. 27, 2024 /PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) and Lapis Energy LP ("Lapis") announced today the execution of an exclusive exploration agreement for subsurface carbon dioxide sequestration in Arkansas, Louisiana and Mississippi.
- The agreement covers 187,500 acres of subsurface rights owned by Weyerhaeuser and spans five potential sequestration sites, including two locations that were previously identified by Weyerhaeuser as prospective opportunities for carbon capture and sequestration (CCS) development.
- Under the exclusive two-year agreement, Lapis will determine the sequestration potential of each site.
- "Lapis looks forward to developing these carbon sequestration sites with Weyerhaeuser to provide solutions for regional industrial customers.
Alternative Energy,
Energy,
Other Energy,
Oil,
Gas,
Dorado,
Carbon,
Partnership,
Class,
Carbon dioxide,
Denbury,
NYSE,
Libra,
Utilization,
CCS,
DEN,
CO2,
VI,
CCUS,
Renewable energy,
Lapis lazuli Lapis Energy, LP (“Lapis”) announced today that it has formed a joint venture with a subsidiary of Denbury Inc. (NYSE: DEN, “Denbury”) to design, implement, and operate a carbon dioxide (“CO2”) sequestration (“CCS”) project at Lapis Energy’s 14,000-acre carbon storage site located in St Charles Parish, Louisiana, approximately 20 miles west of New Orleans.
Key Points:
- Lapis Energy, LP (“Lapis”) announced today that it has formed a joint venture with a subsidiary of Denbury Inc. (NYSE: DEN, “Denbury”) to design, implement, and operate a carbon dioxide (“CO2”) sequestration (“CCS”) project at Lapis Energy’s 14,000-acre carbon storage site located in St Charles Parish, Louisiana, approximately 20 miles west of New Orleans.
- Each party will have a 50 percent interest in a newly formed project company, Libra CO2 Storage Solutions LLC (“Libra”).
- Depending on the scale and pace of emissions agreements dedicated to the site, Denbury intends to connect the sequestration site to its existing CO2 pipeline network in southeast Louisiana with a 45-mile pipeline connection.
- Lapis CEO Reg Manhas commented, “Lapis is pleased to welcome Denbury, a leading CCUS player, into this exciting project, and we look forward to working in partnership to fully develop the Libra Site.
Retrieved on:
Tuesday, February 21, 2023
Chemicals,
Plastics,
Mining,
Minerals,
Environment,
Manufacturing,
Natural Resources,
Green Technology,
Climate Change,
Dorado,
Ammonia,
Carbon,
Climate change,
Hosston, Louisiana,
LSB,
NYSE,
Class 6,
CCS,
Lapis lazuli,
Class,
CO2,
Internal Revenue Code,
VI,
EPA,
Coal This long-term underground storage, called geologic sequestration, reduces atmospheric CO2 emissions and helps to mitigate climate change.
Key Points:
- This long-term underground storage, called geologic sequestration, reduces atmospheric CO2 emissions and helps to mitigate climate change.
- Upon approval of the Class VI permit, Lapis will begin construction on the infrastructure required to capture and sequester CO2 at El Dorado.
- Reg Manhas, Lapis Energy’s CEO, stated, “We are very pleased to have submitted the Class VI permit application to the EPA.
- This project benefits from the presence of geological formations that provide high-capacity storage with excellent injection potential directly beneath the facility.
