ALLEN, Texas--(BUSINESS WIRE)--CapturePoint LLC (together with its affiliates, “CapturePoint”) announced today that a subsidiary of Southwestern Energy Company (“Southwestern”) (NYSE: SWN) has agreed with its midstream provider, Energy Transfer LP (NYSE: ET), to dedicate CO2 from its Haynesville natural gas processing to sequestration deep underground in CapturePoint’s Central Louisiana Regional Carbon Storage Hub (“CENLA Hub”). The CENLA Hub, under development by CapturePoint affiliate CapturePoint Solutions LLC, will permanently store captured CO2 in suitable geologic formations in Rapides and Vernon Parishes.
CapturePoint CEO Tracy Evans said, “We are excited to be providing critical carbon management solutions for the Haynesville Basin. The agreement announced today is another significant milestone for the future success of the CENLA Hub. Our team has positioned this project on the leading edge of carbon management innovation, and the CENLA Hub is now well on its way to being one of the largest onshore CO2 storage centers in the United States.”
CapturePoint’s data collected from cores and open hole logs from its stratigraphic well have confirmed that the CENLA Hub has the capacity to absorb more than a billion tons of CO2. The company has filed two permit applications for Class VI carbon sequestration injection well sites in the CENLA Hub, with one located in Rapides Parish and the other in Vernon Parish. The Vernon Parish application is the first deep underground carbon sequestration project in the nation accepted for FAST-41, the fast-tracking review process across federal agencies.
“Southwestern Energy is committed to meeting growing global demand for reliable, lower-carbon energy,” said Bill Way, Southwestern Energy President and Chief Executive Officer. “Through innovation and collaboration with leaders like CapturePoint, we are continuing to minimize our carbon footprint while driving sustainable value creation. We are proud to participate in the CENLA Hub to reduce CO2 emissions in the Haynesville basin, one of our core operating areas.”
Mr. Evans added, “The Haynesville is one of the largest natural gas producing regions in the country, and it offers significant opportunities for effective carbon management. We are reaching out to other producers in that area and across Louisiana to offer our expertise and introduce them to the carbon storage potential of the CENLA Hub.
“We appreciate the support of Energy Transfer and Southwestern Energy Company. Their early commitments to deep underground carbon storage in the CENLA Hub will help us secure millions of tons of CO2 annually that would otherwise be released into the atmosphere.”
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CapturePoint LLC is a privately held company based in Allen, Texas focused on leading-edge carbon management services in an era of energy transition. For more information, visit the CapturePoint website at www.capturepointllc.com.
Forward Looking Statements
This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. In addition to the risks and uncertainties previously stated, CapturePoint has also been, or may in the future be, impacted by new or heightened risks related to the COVID-19 pandemic, and we cannot predict the length and ultimate impact of those risks. CapturePoint undertakes no obligation to update or revise any forward-looking statement to reflect new information or events, nor to update the status of federal or state permits or approvals or other external factors that may affect potential future operations.
The information contained in this press release is available on our website at www.capturepointllc.com.
