Milestone Carbon to Develop CO2 Sequestration Hub in Midland Basin
10,000 acres of land in Upton and Midland counties will be used for Milestone Carbon’s injection and storage of CO2.
Milestone Carbon has announced that it will be developing a CO2 sequestration hub in the southwestern region of the Midland Basin, containing multiple support wells throughout Upton and Midland counties for the permanent geological storage of CO2.
The company has been granted exclusive rights to more than 10,000 acres of land and pore space for the development of this carbon-capture hub. In addition to land rights, Milestone Carbon received a Class II injection well permit from the Texas Railroad Commission, allowing the company to transport carbon from local natural gas producers for sequestration. The Midland Basin project is slated to begin CO2 injection in 2025, pending construction time and commercial arrangements with participating emitters.
Milestone Carbon has applied for an additional Class VI injection well permit in an effort to increase sequestration capacity and draw from a widened scope of industrial sources. Based on the geological investigation completed to date, the company estimates that the Midland Basin hub should have sufficient capacity to store approximately 30 million metric tons of CO2 over its life. Both Class II and Class VI injection wells will be utilized to sequester CO2.
The company will receive carbon byproduct from local natural gas processing, electrical generation, and other heavy industries to provide a low-cost carbon sequestration solution in Permian-level geological formations.
Rendering of Milestone Carbon's Midland hub; Image Credits: Business Wire
