Weyerhaeuser and Lapis Energy announce carbon sequestration exploration agreement

Weyerhaeuser Company
February 27, 2024
Category: Carbon, Climate & Bioenergy
Region: United States, US East

SEATTLE — Weyerhaeuser and Lapis Energy announced the execution of an exclusive exploration agreement for subsurface carbon dioxide sequestration in Arkansas, Louisiana and Mississippi. The agreement covers 187,500 acres of subsurface rights owned by Weyerhaeuser and spans five potential sequestration sites, including two locations that were previously identified by Weyerhaeuser as prospective opportunities for carbon capture and sequestration (CCS) development. Under the exclusive two-year agreement, Lapis will determine the sequestration potential of each site. Upon successful completion of the technical and commercial assessments, Lapis will have the option to move sites into full-scale development agreements and complete the work required to permit, build and operate permanent CO2 sequestration sites serving large-scale industrial sources. …Lapis, located in Dallas and founded in 2020 by a team of industry-leading experts, is building a world-class portfolio of CCS projects within North America

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