Milestone Carbon, a permanent carbon sequestration services provider, has developed a CO2 sequestration hub in the southwestern Midland Basin to allow for the permanent geological storage of CO2 throughout multiple wells.
The hub will provide a low-cost solution for heavy industry and energy producers looking to reduce and offset emissions, including natural gas processing, electricity generation, and other critical industries.
Milestone Carbon acquired rights to over 10,000 acres of land and pore space in Upton and Midland counties for the purpose of permanent sequestration and storage of CO2. The company has also received a Class II injection well permit from the Texas Railroad Commission to allow for the sequestration of CO2 from local natural gas processors. The process is expected to begin by 2025 based on the timing of infrastructure buildout and commercial arrangements with emitters.
The U.S. Environmental Protection Agency has confirmed the administrative completion of the company’s Class VI injection well permit application. Class VI wells will increase the sequestration capacity and allow Milestone Carbon to inject CO2 from other industrial sources, supporting the decarbonization efforts of existing and planned facilities in the Permian Basin.
Milestone Carbon forecasts the Midland Basin hub will have enough capacity to store about 30 million metric tons of CO2 over its life, equivalent to the annual carbon emissions from 6.5 million U.S. passenger cars and trucks. The storage capacity will be utilized by both Class II and Class VI injection wells to sequester CO2 from multiple emitters.