Published by Todd Bush on December 14, 2022
PLANO, Texas--(BUSINESS WIRE)-- Denbury Inc. (NYSE: DEN) (“Denbury” or the “Company”) is hosting a live webcast at 10:00 a.m. C.T. today to review its carbon capture, utilization, and storage (“CCUS”) strategy, growth plans, and financial projections. Registration for the webcast can be found on the Company’s Investor Relations website, where presentation materials are currently available. A replay of the event will be available shortly following the conclusion of the broadcast on the same website.
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Denbury is uniquely positioned to lead the deployment of CCUS in the U.S. based on its extensive technical expertise and dedicated CO2 assets.
Denbury estimates that its CO2 transportation & storage service volumes will grow to between 15 and 25 Mmtpa on average in 2026, 30 – 40 Mmtpa in 2028, and 50 – 70 Mmtpa in 2030.
Denbury targets achieving Scope 1, 2, and 32 net negative status by the end of 2030 through increasing amounts of associated and dedicated storage of industrial-sourced CO2. The Company is currently Scope 1 and 2 net negative through storage associated with its use of industrial CO2 in its EOR operations.
1 A Non-GAAP financial measure. See “Statement regarding Non-GAAP Financial Measures” below.
2 Scope 3 refers to Scope 3 Category 11 (Use of Sold Products)
Denbury is an independent energy company with operations and assets focused on Carbon Capture, Use 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.
The Denbury Carbon Solutions team was formed in January 2020 to advance Denbury’s leadership in the anticipated high-growth CCUS industry, leveraging Denbury’s unique capabilities and assets that were developed over the last 20-plus years through its focus on CO2 EOR.
Source: Denbury Inc.
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