Talos Energy Inc. and partner Carbonvert Inc. was the sole winning bidder partnership for the Texas General Land Office's (GLO) Jefferson County, Tex., carbon storage site offshore near Beaumont and Port Arthur. Talos’s bid was the only successful proposal among twelve submissions and the Texas School Land Board (TSLB) unanimously approved awarding the lease to Talos and Carbonvert, subject to finalization of terms.
Based on Talos's preliminary understanding of the rock and fluid properties of the project site’s saline reservoirs, it expects to ultimately sequester 225-275 million tonnes of carbon dioxide from industrial sources in the area. Talos will operate the project.
The project site encompasses a total land area of more than 40,000 gross acres offshore in Texas state waters in the Gulf of Mexico. It is 100% covered by Talos's existing seismic database and is close to a large concentration of industrial emitters along the Texas and Louisiana Gulf Coast.
Talos and Carbonvert now will negotiate a lease agreement with GLO staff based on the terms of the Talos bid and the terms included in the original request for proposal from the GLO. Final terms are subject to the approval of the TSLB.
This bid submission predated Talos's exclusive joint venture with Storegga Geotechnologies Ltd. to pursue carbon capture and sequestration (CCS) throughout the US Gulf Coast (OGJ Online, June 9, 2021). Talos said it continues to work with both landowners and emitters across the Gulf Coast regarding additional CCS sites.
