The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
We have the oil, Exxon have the CO2 & both have an SRI philosophy. Exxon are also awashwith cash:
ExxonMobil has reported a net profit of $55.7bn for the full-year 2022, up from $23bn in 2021, benefiting from the surge in oil prices in the wake of Russia's invasion of Ukraine. For the year ending 31 December 2022, cash flow from operating activities rose to $76.8bn, from $48.1bn a year ago.
"Making money the green way"
Highly relevant to COPL:
•CO2-EOR is expected to generate high profitability when applied to many types of oil fields. This is because it is possible to use captured and recycled CO2 to inject into the reservoir formation in either liquid, gaseous, or supercritical states.
•High-viscosity (heavy) oils and low-permeability reservoirs, as well as depleted fields with high-water cuts, are all potentially suited to the CO2-EOR technique.
•CO2-EOR offers a potential large-scale solution to help mitigate CO2 emissions and reduce its damaging impacts on the atmosphere.
I have always maintained that Exxon will be our JV partner - I have found all the the clues, & that is my educated opinion FWIW. Our JV partner is looking for an EOR using CO2, & we have had a previous working relationship (see 2016).
This may be of interest:
https://insideclimatenews.org/news/27092020/exxon-carbon-capture/
Looking good!
https://www.theweathernetwork.com/us/14-day-weather-trend/wyoming/powder-river
FILTER this lot & your day will become much brighter LOL:
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