- Denbury (NYSE:DEN) and Weyerhaeuser (NYSE:WY) on Monday announced an agreement for the evaluation and potential development of a CO2 sequestration site in Mississippi.
- The lease agreement will provide Denbury with the exclusive right to develop and operate approximately 16,000 acres of subsurface pore space owned by Weyerhaeuser in Simpson and Copiah Counties.
- The site, with an estimated sequestration capacity of 275 million metric tons of carbon dioxide, is located directly adjacent to Denbury's NEJD Pipeline in Mississippi.
- Denbury plans to utilize the site to permanently sequester industrial CO2 in secure underground geologic formations, and Weyerhaeuser will continue to manage the timberland acreage as a sustainable working forest.
- Denbury said intends to drill a stratigraphic test well in 2023 at the site.
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