Denbury Expands Leading CO2 Sequestration Portfolio with Two New Sites in Louisiana
Denbury and Lapis Energy Form JV to Develop CO2 Sequestration Project in
Denbury Secures Additional CO2 Sequestration Site in
The Company also announced a definitive agreement with Soterra LLC, a wholly owned subsidiary of Greif, Inc., for the right to develop a dedicated CO2 sequestration site on approximately 8,500 acres in
Nik Wood, Denbury’s Senior Vice President, Carbon Capture, Utilization and Storage, commented, “We are excited to announce two new dedicated CO2 sequestration sites which expand our storage offering in southeastern
With the addition of the two sites, the Company’s total CO2 sequestration portfolio has expanded to 10 sites, including sites in
About Denbury
Denbury is an independent energy company with operations and assets focused on Carbon Capture, Utilization, and Storage (“CCUS”) and Enhanced Oil Recovery (“EOR”) in the Gulf Coast and Rocky Mountain regions. For over two decades, the Company has maintained a unique strategic focus on utilizing CO2 in its EOR operations and since 2012 has also been active in CCUS through the injection of captured industrial-sourced CO2. The Company currently injects over four million tons of captured industrial-sourced CO2 annually, with an objective to fully offset its Scope 1, 2, and 3 CO2 emissions by 2030, primarily through increasing the amount of captured industrial-sourced CO2 used in its operations. For more information about Denbury, visit www.denbury.com.
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This press release contains forward looking statements as to the timing and potential storage capacity of the above sequestration sites and future CO2 pipeline extensions that involve risks and uncertainties, including the timing and availability of CO2 to be sequestered, the Company’s successful preparation and testing of the site for permanent CO2 sequestration and obtaining Class VI permits required for permanent CO2 sequestration. These statements are based on engineering, geological, financial and operating assumptions that Denbury believes are reasonable based on currently available information; however, their achievement are subject to a wide range of business risks, and there is no assurance that these goals and projections can or will be met. Actual results may vary materially. In addition, any forward-looking statements represent Denbury’s estimates only as of today and should not be relied upon as representing its estimates as of any future date. Denbury assumes no obligation to update these forward-looking statements.
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DENBURY IR CONTACTS
Brad Whitmarsh, 972.673.2020, brad.whitmarsh@denbury.com
Beth Palmer, 972.673.2554, beth.palmer@denbury.com
Source: Denbury Inc.