California Resources Corporation Announces Carbon Dioxide Management Agreement For CTV's First Permanent Carbon Storage Project
Project Aims to Sequester Initial 100,000 Metric Tons of CO2 Per Annum in 2025 LONG BEACH, Calif., December 07, 2022--(BUSINESS WIRE)--California R...
Project Aims to Sequester Initial 100,000 Metric Tons of CO2 Per Annum in 2025 LONG BEACH, Calif., December 07, 2022--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) today announced a Carbon Dioxide Management Agreement (CDMA) between Carbon TerraVault JV Holdco, LLC (CTV JV) and Lone Cypress Energy Services, LLC (Lone Cypress), an independent energy company focused on the development of low-carbon hydrogen generation facilities and energy infrastructure, to sequester 100,000 metric tons (MT) of carbon dioxide (CO2) per annum from a newly constructed blue hydrogen plant at the Elk Hills Field in Kern County.