CCUS has gathered impressive momentum over the past two years as companies seek to exploit the technology’s economic and environmental benefits. In the U.S., the number of Class VI well permit applications for permanent geological CO2 storage surged by 40, or 800%, between May 2021 and May 2023, owing largely to enhancements to the 45Q tax credit. Despite the rise, the EPA and company websites provide limited transparency on proposed injection well locations.
The Enverus Intelligence ® | Research (EIR) team leveraged additional disclosure available through a variety of data sources to add geographic coordinates to the 45 active, pending and withdrawn Class VI applications (Figure 1). Thirty, or 67%, of project geographic coordinates are known while the remaining 15 are inferred using public disclosure. This information is critical to competitor intelligence, activity screening and infrastructure buildout workflows for project developers, service providers and investors active in the space. For more information on this dataset as well as future CCUS project locations in Louisiana and trends among applications, check out EIR’s latest report on mapping Class V and VI permits.
Highlights from Energy Transition Research
- Emissions – U.S. Versus Western Canada – This report compares Scope 1 upstream and midstream GHG emissions in Western Canada and the U.S., focusing on key differences in absolute emissions and intensities across major areas of interest.
- Going green with hydrogen – IRA economics and technology benchmarking – This report explores green hydrogen production technology and incentives available in the U.S. and models the resulting project-level economics.
- Alberta CCUS – Opportunity lies deep in the Basal Cambrian Sands – This report explores how CO2 sequestration incentives differ between the United States and Alberta, which companies are developing CO2 storage sites, EIR’s view of the storage potential in the Basal Cambrian Sandstone (BCS) and how BCS project proposals stack up against one another.
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About Enverus Intelligence®| Research
Enverus Intelligence Research, Inc. is a subsidiary of Enverus and publishes energy-sector research that focuses on the oil and natural gas industries and broader energy topics including publicly traded and privately held oil, gas, midstream and other energy industry companies, basin studies (including characteristics, activity, infrastructure, etc.), commodity pricing forecasts, global macroeconomics and geopolitical matters. Enverus Intelligence Research, Inc. is registered with the U.S. Securities and Exchange Commission as a foreign investment adviser. Click here to learn more.