No Wells Coming Off Confidential List -- June 2, 2021

Brent: $70.86

Active rigs:

$68.24	6/2/2021	06/02/2020	06/02/2019	06/02/2018	06/02/2017
Active Rigs	20	11	64	60	50

No wells coming off the confidential list.

RBN Energy: opportunities for CO2 sequestration through enhanced oil recovery, part 2. 

No doubt about it. The global effort to reduce emissions of carbon dioxide — the most prevalent of the greenhouse gases — is really heating up. Yes folks, CO₂ is in the spotlight, and everyone from environmental activists and legislators to investors and lenders want to slash how much of it is released into the atmosphere. There are two ways to do that. First, produce less of it. That’s what the development of no- or low-carbon sources of power and the electrification of the transportation sector are intended to accomplish. The second way is to capture more of the CO₂ that’s being emitted and make it go away, and the most cost-effective means to that end is sequestration — permanently storing CO₂ deep underground, either in rock formations or in oil and gas reservoirs through a process called enhanced oil recovery, or EOR. Sure, there’s an irony in using and sequestering CO₂ to produce more hydrocarbons, but the volumes of CO₂ that could be squirreled away for eternity through EOR are enormous, and the crude produced might credibly be labeled “carbon-negative oil.” In today’s blog, we continue our look at the rapidly evolving CO₂ market and the huge opportunities that may await those who pursue them.