Texas Pacific Land and Milestone Carbon Enter Carbon Sequestration Study Agreement
[Click image to enlarge]
[Click image to enlarge]
Texas Pacific Land Corporation (TPL) together with Milestone Carbon, executed letter of intent (LOI) to evaluate geological and geophysical characteristics of certain acreage owned by TPL for the purposes of sequestering captured CO2.
Milestone Carbon is a leading carbon capture company that offers turnkey solutions for the permanent geological sequestration of CO2 for significant industrial emitters. Milestone Carbon will perform the evaluation, which will cover approximately 21,000 acres in the Permian Basin, and, if successful, would potentially develop the acreage in connection with a carbon capture and sequestration (CCS) project.
“CCS is a proven technology that can provide actionable means to achieve a low-carbon future. Milestone Carbon was created to develop, own, and operate environmental infrastructure that will enable industry to meaningfully decarbonize. Such infrastructure will be crucial in the fight against climate change and will support the industries that provide the energy and materials our economy depends on,” said Milestone Carbon President and CEO Gabriel Rio.
“TPL’s vast land holdings and deep industry experience make them an ideal partner for Milestone Carbon. We are thrilled to join with them to develop CCS infrastructure in the Permian Basin,” added Rio.
“We have long been responsible stewards of our expansive land holdings, and that longstanding focus has served as a good foundation for enhancing our commitment to sustainability and the environment. Carbon capture can be a key tool in the quest for ‘net zero’, and TPL’s expansive surface footprint could potentially serve as a key resource to permanently sequester carbon,” said Tyler Glover, CEO of TPL.
“We are constantly looking for ways to leverage the unique features of our surface assets, and carbon capture is an exciting opportunity that could serve a dual purpose of creating value for our shareholders while also benefiting the environment,” added Glover.
“TPL is proud of its ESG efforts and to be recognized by Sustainalytics as a top ESG performer, and we will continue to endeavor to build upon our successes to date,” concluded Glover.
About Texas Pacific Land Corporation
Texas Pacific Land Corporation (TPL) is one of the largest landowners in the State of Texas with approximately 880,000 acres of land in West Texas, with the majority of its ownership concentrated in the Permian Basin. TPL is not an oil and gas producer, but its surface and royalty ownership allow revenue generation through the entire value chain of oil and gas development, including through fixed fee payments for use of our land, revenue for sales of materials (caliche) used in the construction of infrastructure, providing sourced water and treated produced water, revenue from our oil and gas royalty interests, and revenues related to saltwater disposal on our land. TPL also generates revenue from pipeline, power line and utility easements, commercial leases, and seismic and temporary permits related to a variety of land uses including midstream infrastructure projects and hydrocarbon processing facilities.
To stop by TPL’s website, CLICK HERE
About Milestone Carbon
Milestone Carbon is a subsidiary of Milestone Environmental Services. Milestone Carbon offers turnkey solutions for the permanent geological sequestration of CO2 — including design, permitting, development, and operations — for midstream and other significant industrial emitters. Applying Milestone’s vast knowledge and experience of developing complex injection operations, Milestone Carbon customers will benefit from the safe, reliable disposal and monetization of their carbon dioxide emissions through state-of-the-art injection facilities.
To stop by Milestone Carbon’s website, CLICK HERE
Be in-the-know when you’re on-the-go!
FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.
Copyright © 2022 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
For licensing permission, .(JavaScript must be enabled to view this email address)
