Financial Services Power & Renewables

Class VI applications signal slowdown

Despite sharp drop in new applications, regulatory progress and draft permits show signs of continued momentum in U.S. carbon capture efforts

byEnverus

CALGARY, Alberta (May 28, 2025) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, has published the latest installment in its quarterly report series tracking developments in U.S. carbon capture and sequestration (CCS) initiatives. This new report provides a comprehensive update on the expanding roster of Class VI wells, highlighting recent permit applications, status changes, approvals, and newly revealed project details.

“Class VI applications were down 55% to just four in the first quarter of 2025, compared to an average of nine applications per quarter over the last two years,” said Brad Johnston, an analyst at EIR.  “This is the fewest applications submitted since the first quarter of 2022,” he said.

“EIR estimates two Class VI applications will be approved in 2Q25, and 14 approvals throughout 2025, up from five in 2024. This is down from our estimate of 40 approvals at the end of 2024, with the decrease mostly attributed to updated approval times from Class VI regulators while they wait on applicants for responses to notices of deficiency and requests for additional information during the review process,” Johnston said.

Key takeaways from the report:

  • Class VI applications are down 55% to just four in the first quarter of 2025 compared to an average of nine applications per quarter over the last two years.
  • No Class VI permits were approved in 1Q25, down from three approvals in 4Q24.
  • The West Virginia Department of Environmental Protection (WV DEP) gained Class VI primacy on February 18 and Texas moved into the Proposed Rulemaking Phase (Phase III of IV) in the EPA’s approval process for state primacy.
  • A 2 million metric ton per annum (mtpa) carbon capture and storage (CCS) project in Louisiana recently received a draft permit from the state’s Department of Energy and Natural Resources—the first such permit issued since the state obtained Class VI primacy over a year ago. Additionally, the U.S. Environmental Protection Agency (EPA) issued a draft permit for a 1.5 mtpa CCS project at an ethanol production facility in Illinois.

EIR’s analysis pulls from a variety of products including Enverus Foundations® – Carbon Innovation Wells.

Class-VI-applications-signal-slowdown

You must be an Enverus Intelligence® Research subscriber to access this report.

About Enverus Intelligence® ResearchEnverus Intelligence ® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations and macro-economic forecasts; and helps make intelligent connections for energy industry participants, service companies and capital providers worldwide. Enverus is the most trusted, energy-dedicated SaaS company, with a platform built to create value from generative AI, offering real-time access to analytics, insights and benchmark cost and revenue data sourced from our partnerships to 95% of U.S. energy producers, and more than 40,000 suppliers. Learn more at  Enverus.com.

Picture of Enverus

Enverus

Energy’s most trusted SaaS platform — creating intelligent connections that uncover insights and opportunities to deliver extraordinary outcomes.

Related News

U.S. upstream M&A reached $12.6 billion in 3Q26 before accelerating with another $18 billion in October. Enverus Intelligence® Research examines the trends driving dealmaking, from emerging Permian intervals and Eagle Ford redevelopment to growing international demand for U.S. natural gas.
Newsroom
Financial Services, Operators
ByJon Haubert

U.S. upstream M&A reached $12.6 billion in 3Q26 before accelerating with another $18 billion in October. Enverus Intelligence® Research examines the trends driving dealmaking, from emerging Permian intervals and Eagle Ford redevelopment to growing international demand for U.S. natural gas.

EQT Builds an Appalachian Super Producer with $13.8B Range Buy
Newsroom
Analyst Takes, Financial Services+1
  • Operators
ByAndrew Dittmar

EQT’s nearly $14 billion acquisition of Range Resources creates America’s largest natural gas producer, combining scale, premium inventory and infrastructure to compete in an increasingly complex North American gas market.

EIR’s model shows powered-land can rise more than 20-fold in value as data center sites reach energization
Newsroom
Financial Services, Power & Renewables
ByJon Haubert

Explore Enverus Intelligence® Research’s six-stage powered-land valuation framework, including how utility power commitments and development risks shape site value as projects advance toward energization.

Transmission upgrade timelines vary more than 3x across owners
Newsroom
Financial Services, Power & Renewables
ByJon Haubert

Enverus Intelligence® Research finds transmission upgrade timelines vary more than threefold by owner across four U.S. power markets, highlighting delivery risks for large-load projects.

U.S. power grid set for 1,080 GW generation expansion by 2050
Newsroom
Financial Services, Renewable Developers
ByJon Haubert

Enverus Intelligence® Research projects 1,080 GW of new U.S. power capacity through 2050, led by 376 GW of battery storage as grid reliability shapes the energy mix.

Established operators lead ERCOT large-load queue
Newsroom
Financial Services, Power & Renewables
ByJon Haubert

Enverus Intelligence® Research finds that 81% of identified hyperscaler capacity is classified as ERCOT base-load, compared with 31% for new entrants, highlighting differences in transmission readiness.

Anadarko Basin offers leading economics as inventory expands
Newsroom
Financial Services, Operators
ByJon Haubert

Enverus Intelligence® Research finds the Anadarko Basin leads major Lower 48 plays on full-cycle economics at $60/bbl, with expanding inventory, growing private-operator participation and production expected to rise through 2030.

Oil sands M&A returns with Cenovus’ Athabasca purchase
Newsroom
Analyst Takes, Financial Services+1
  • Operators
ByMichael Berger

Cenovus Energy's acquisition of Athabasca Oil marks a major oil sands M&A transaction. Analysis from Enverus Intelligence® Research highlights rising asset valuations, limited acquisition targets and the growing premium placed on long-life Canadian oil sands resource.

Barnett-Woodford holds largest undeveloped oil resource in the Midland Basin
Newsroom
Financial Services, Operators
ByJon Haubert

Enverus Intelligence® Research identifies the Midland Barnett-Woodford as the Lower 48’s largest oil-directed expansion opportunity, with more than 6,400 locations and approximately 3 Bbbl of undeveloped recoverable oil resource.

Find Out How Enverus Can Help Your Business
Subscribe to the Energy Blog

A weekly update on the latest “no-fluff” insight and analysis of the energy industry.

Let’s get started!

We’ll follow up right away to show you a quick product tour.

Let’s get started!

We’ll follow up right away to show you a quick product tour.

Get Started

Sign up for our Blog

Ready to Subscribe?

Ready to Get Started?