Exxon’s Denbury Buy Raises Stakes in CCS Bet

Copyright © 2023 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.
  • Exxon Mobil’s agreed acquisition of US CO2 specialist Denbury has catapulted it way ahead of other carbon capture-as-a-service hopefuls thanks to extensive existing infrastructure and third-party deals.
  • The move solidifies Exxon’s view that economically viable carbon capture and storage (CCS) projects exist today, even if the concept needs significant cost reductions and policy support to fulfill its potential.

  • Exxon’s expanded position will likely give it a considerable edge in terms of attracting more business but also raises the company's reliance on CCS becoming a massive new industry.

The Issue

Carbon Capture (CCS), M&A, Corporate Strategy , Majors
Wanda Ad #2 (article footer)
Companies are not indifferent to Indonesia's large resources and recent efforts to improve its business climate, but time is still needed to fully convince changes will stick.
Mon, Sep 25, 2023
Private players Castex and Carbonvert are teaming up for a project in Louisiana state waters that could potentially provide CO2 storage for planned ammonia and LNG facilities.
Mon, Sep 25, 2023
The regulatory framework is a key step in advancing BP, Exxon Mobil and Repsol's CCS projects.
Thu, Sep 21, 2023