HOUSTON – Aug. 31, 2023 – Caliche Development Partners II recently announced reaching an agreement with the City of Beaumont to lease subsurface zones under 4,000 contiguous acres for the long-term sequestration of carbon dioxide (CO2). The highest impact areas for CO2 capture center around regions heavily concentrated with industry, and Caliche’s newly acquired land is located within 15 miles of one-third of the region’s industrial point-source emissions. Initial review of geology estimates that the company will be able to sequester at least 30 million tonnes of CO2 in the currently targeted zones.
Additionally, Caliche announced Graham Payne joining the team as Director of Energy Transition. Graham brings over seven years' experience with downhole injection of CO2, both from a geologic modeling and field perspective. He began his CO2 work as a graduate student at New Mexico Institute of Mining and Technology, and continued field and modeling work at Schlumberger and Battelle. Most recently, he has been evaluating formations for CO2 sequestration and supporting Class VI Environmental Protection Agency (EPA) applications. His new role will include geologic modeling, technical support of permitting, and ultimately, the design and execution of drilling and operation of CO2 sequestration.
This new initiative is part of Caliche’s commitment to leverage its underground storage expertise and relationships with large-scale Golden Triangle emitters, and to spur the energy transition. Beginning this month, the team will apply its geologic studies of the property to the Class VI permitting process with the EPA and Texas Railroad Commission (TRRC). If approval is received, Caliche’s storage will be among the area’s first CCS activities.
For information regarding CO2 Sequestration capacity, please contact Sam Wallace, VP of Commercial (swallace@calichestorage.com) or Graham Payne, Director of Energy Transition (wgpayne@calichestorage.com).
Finance Contact: David Saindon – dsaindon@calichestorage.com
Media Contact: Emily C. Walsh – emily@ecwcommunications.com