EPA approves CO2 storage plan in California

California Resources and its carbon management business, Carbon TerraVault (CTV), received final Class VI well permits from the Environmental Protection Agency (EPA) for underground injection and storage of carbon dioxide (CO2) into the 26R reservoir, located at CRC’s Elk Hills Field in Kern County, California. The 26R reservoir is part of CTV’s joint venture with Brookfield.

“We are proud to have received the state’s first Class VI permits, enabling us to advance critical clean energy projects in California,” said Francisco Leon, CRC’s President and Chief Executive Officer. “This milestone underscores our leadership in the carbon capture and storage sector and highlights our capability to deliver carbon management solutions to key industrial partners across the state.”

26R is one of two depleted oil and natural gas reservoirs that comprise the CTV I storage site, with an expected injection rate of 1.46 million metric tons of CO2 storage per annum. Total estimated capacity of 26R is up to 38 million metric tons.

Carbon TerraVault (CTV), CRC’s carbon management business, is developing services to capture, transport and permanently store CO2 for its customers. CTV is engaged in a series of proposed CCS projects that if developed will inject CO2 captured from industrial sources into depleted reservoirs deep underground for permanent sequestration.

Carbon TerraVault Joint Venture (CTV JV) is a carbon management partnership focused on CCS development formed between Carbon TerraVault I, LLC, a subsidiary of CRC, and Brookfield, to develop both infrastructure and storage assets required for CCS development in California. CRC owns 51% of CTV JV with Brookfield owning the remaining 49% interest.

California Resources Corp. is an independent energy and carbon management company committed to energy transition. CRC is committed to environmental stewardship while safely providing local, responsibly sourced energy. CRC is also focused on maximizing the value of its land, mineral ownership, and energy expertise for decarbonization by developing CCS and other emissions reducing projects