Happy Thursday! Have you been outside to enjoy the refreshing weather today? A cool front has come to town and it is warm but no longer crazy hot and humid!
We love articles which tie to our
previous Blogs. We blogged about Oxy’s subsidiary
1PointFive and its work in East Texas “Bluebonnet” and West Texas “Stratos”
back in the Spring of 2023, please check out March and May for further details. Well, 1PointFive is in the news again.
Did anyone happen to read the
Oil & Gas Journal’s Energy Transition Update on September 19, 2024, they
had an article titled, “Occidental’s 1PointFive South Texas DAC hub awarded US
DOE funding”? The article is on more
information on the U.S. Department of Energy’s Office of Clean Energy Demonstrations
(OCED) funding structure for 1PointFive’s South Texas Direct Air Capture (DAC) Hub which was granted funding last summer. The funding for 1PointFive’s award
will be released in batches. The first
round of funding will be $50 million to help with Phase 2 and its current tasks
which consists of furthering design of the facility, permitting, obtaining the
equipment needed, as well as keeping the community involved with the project. The OCED has agreed to up to $500
million with a possible chance of $150 million more federal funding to expand
the project and its network. The facility
will be in Kleberg County, Texas and 106,000 sub-surface acres under the
infamous King Ranch. 1PointFive’s South
Texas DAC Hub will at first capture 500,000 metric tonnes per year (tpy) of
carbon dioxide (CO₂) nonetheless they may expand it to capture more than one million
metric tpy. The facility may have room to
expand so it may be able to eliminate approximately 30 million tpy of CO₂
and be able to hold underground possibly 3 billion tonnes of CO₂
in brine in an aquifer deep in the Earth.
We wish them luck moving their project forward and we will let you know,
if we hear anything else! If you would
like more information on these articles from Oil and Gas Journal, please
click the links: Occidental’s
1PointFive South Texas DAC hub awarded US DOE funding | Oil & Gas Journal
(ogj.com).
If you would
like to read more on the OCED’s awarded projects, please click the link:
Regional Direct Air Capture Hubs Selected and Awarded Projects | Department of Energy.
Don’t forget to check out our ESC's website or contact us via the email in the
blog, if you have a hydrocarbon liquids project you would like to
see get off the ground or you would like to see what’s under your feet to help
with your emissions!
We hope you have a great night
and week!
**Disclaimer: You may be charged a fee to read The Oil
and Gas Journal’s article. **