The company I work for is extremely busy in the gulf. One new structure should be online by late summer. Two more blocks with exploratory drilling, one of which is good. It’s unknown if it will require a new structure or tie back into something else.
But the deep water game is in full swing with nearly every major operator actively drilling.
We're not. Or at least industry is not focusing more on those than its core business, which is fossil fuel production and/or manufacturing of fossil fuel byproducts. Except for BP. They're idiots.
And while I'm not going to try to convince anyone of the economics behind carbon sequestration or capture (especially not the direct air capture, those are bunk), carbon sequestration has been around for decades. In fact, that exact process has been used in the Permian Basin the past 50 years to get additional oil & gas production out of fields that have gone through the primary drilling & production phase.
What Exxon is going to do around Intracoastal City is that same process, except it just won't produce excess oil & gas (hence where the funny economics come into play). Instead, they'll be a service provider for new petrochemical and related plants along the Mississippi River, whom the EPA has limited "allowance" of CO2 admissions (I'm not convinced that such needs to be required, but that train has done left the station). They will take CO2 produced by those plants and transport it via pipeline to inject underground.
Several operators in the Permian Basin have utilized that exact process for a long time to increase production, drilling CO2 wells in North New Mexico and Southern Colorado, then transporting it via pipeline to the Permian. That was probably part of the reason Exxon acquired Denbury. Not just to be in the sequestration business to have as part of their portfolio, but also, that Denbury line already goes into Texas. A bit further extension, and they can take CO2 from plants along the Mississippi and Calcasieu Rivers into old West TX oil & gas fields for secondary tertiary hydrocarbon recovery.
The amount of renewed investment is SW LA and SE TX with LNG is a game-changer for that region and its economy. I wouldn't be surprised to see it have a huge positive affect for McNeese and Lamar Universities, and also should bring increased progress for UL and UofH as well.
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