Happy Monday! Welcome back to another week of ESC News Blog!
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 and blogged at the end of September
on them receiving their first round of federal funding on their South Texas DAC
Hub. Well, 1PointFive is in the
news again.
Did anyone happen to read the
Oil & Gas Journal’s Daily Update on October 3, 2024, they had an article
titled, “Occidental’s 1PointFive awarded DOE funding for sequestration hubs”? The article is on the U.S. Department of
Energy’s Carbon Storage Assurance Facility Enterprise Initiative (CarbonSAFE Initiative) Phase III granted funding for two of Oxy’s low
carbon venture, 1PointFive, projects in East Texas “Bluebonnet” and Louisiana
“Magnolia.” The total amount of funding is $36 million
which will help with further development of the two projects. Bluebonnet is located in East Texas in Chambers
County, this sequestration hub in near greenhouse gas emitters in the
area. Magnolia is located in Louisiana
in Allen Parrish near greenhouse gas emitters in the area. The two projects have drilled data test wells
to gather core rock samples to investigate, if the geologic formations are
suitable for large-scale carbon dioxide (CO₂) sequestration and these
activities were completed back at the end of 2022. The hubs will have to attain Class VI Well
permits which they are in the process of doing. This federal funding will help advance the
projects with various activities including permitting and government certificates. We wish them luck moving their projects
forward and we will let you know, if we hear anything else! If you would like more information on this
article from Oil and Gas Journal, please click the links: Occidental’s
1PointFive awarded DOE funding for sequestration hubs | Oil & Gas Journal
(ogj.com).
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 week!
**Disclaimer: You may be charged a fee to read The Oil
and Gas Journal’s article. **