🚨 ExxonMobil Acquires Denbury for $4.9 Billion
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Initial Thoughts on Carbon Management
Today's announcement brings additional attention and resources to carbon management. ExxonMobil's strategic move to acquire Denbury creates two regional hubs in Wyoming and Gulf Coast United States.
The combination of existing assets includes carbon capture facilities, 1,300+ miles of CO2 pipelines, 10+ carbon sequestration sites, surface rights, pore space, and key CO2 supplier partnerships.
Source: Denbury investor presentation
- Rocky Mountain Carbon Hub: The Denbury pipeline is the only active CO2 pipeline that runs through Wyoming and is nearby North Dakota, the only two states that have Class VI well primacy for carbon sequestration. ExxonMobil's La Barge Facility in Wyoming captures nearly 7 million tons of CO2.
- Gulf Coast Carbon Hub: With this deal, a regional, single-owner hub is created with permitted sequestration sites and the existing CO2 pipeline network along the Gulf Coast. Additionally, Louisiana is expecting to gain primacy soon and Texas regulators are working with the EPA to earn primacy.
With this move, ExxonMobil is positioned as the leader in carbon management.
Inside this Issue
💰 ExxonMobil Announces Acquisition of Denbury
🚀 Avnos Inc. Secures Funding and Strategic Partnerships From ConocoPhillips, JetBlue Ventures and Shell Ventures, Totaling Over $80M
☁️ Aker Carbon Capture and Aramco to explore partnership opportunities to deploy CCUS modular solutions in Saudi Arabia
🚧 Marubeni Enters into a Share Subscription Agreement with Bison Low Carbon Ventures Inc
🌍 ACX Agrees MOU with Dubai's Blue Carbon to Develop Regional Carbon Markets
💚 Technip Energies Invests in Evok Innovation's Fund II, a Pioneering Cleantech Fund
🎉 NextDecade Announces Positive Final Investment Decision on Rio Grande LNG Phase 1
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