Project Description

Lapis Energy has formed a joint venture with a subsidiary of Denbury Inc. (NYSE: DEN, “Denbury”) to design, implement, and operate a carbon dioxide (“CO2”) sequestration (“CCS”) project at Lapis Energy’s 14,000-acre carbon storage site located in St Charles Parish, Louisiana, approximately 20 miles west of New Orleans. Each party will have a 50 percent interest in a newly formed project company, Libra CO2 Storage Solutions LLC.

As part of the agreement, Denbury has committed volumes to support the initial development of the site, with first injection scheduled for 2027.