Milestone

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https://www.businesswire.com/news/home/20231019337201/en/

Milestone Carbon, a subsidiary of Milestone Environmental Services and an emerging leader in permanent carbon sequestration services for industrial emitters, today announced an agreement under which Milestone Carbon will lease from Texas Pacific Land Corporation (NYSE: TPL) (“TPL”) more than 22,000 acres of land and pore space for permanent geologic sequestration of CO2 in the Permian Basin. The acreage, located in Loving and Midland counties, would support carbon capture and storage (“CCS”) projects at industrial facilities in West Texas, including natural gas processing and power plants.

“Continued development of carbon capture projects by Milestone Carbon is promising, and we are excited that TPL’s expansive surface footprint could potentially serve as a key resource to this emerging industry,” said Tyler Glover, CEO of TPL. “This is another opportunity that reaffirms our commitment to sustainability, and we are encouraged by the potential benefits carbon capture could provide in the future for all the stakeholders involved in these projects.”

https://www.linkedin.com/feed/update/urn:li:activity:7120767341293957120/

Any guesses on what the revenue is on a lease like this? Who takes on any potential environmental liabilities?

8 thoughts on “Milestone”

  1. This seems like some good incremental progress and likely a valued use of the surface land. Although, it does raise some questions.

    1) While Milestone Carbon issued a press release and posted it to the corporate Linkedin page (which TPL employees liked), where was the press release by TPL. Is this a potential Ref FD violation?
    2) Carbon sequestration is new. If something goes bad, say an environmental liability, who is on the hook for it?
    3) What is the financial impact of this lease and what is the opportunity for future leases?

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  2. What are the business details of this? Why no information from TPL about financial and liability issues. Permanent sequestration? Do they mean injection into zones that displace pore volumes of oil or gas, or salt water? I would like to understand the process as well as know there is no liability, if there is the possibility of such a thing. How does the word permanent apply to earth tremor events? Pretty sure earthquakes don’t obey permanent storage ideas.

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    • well put … I would like to know the upside and downside of this deal .. the Trust had one thing going for it : simplicity .
      that appears lacking in this project

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  3. Anyone want to bet these clowns wind up doing something like is going on in Ward County with destruction of freshwater zones by over pressuring formations resulting in breakouts of brine in depleted formation abandoned wells?
    Wonder what the attorney fees and fines will be?

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  5. Everyone needs to follow and understand what is going on down toward Imperial with the blow-out of “something”. Right now, Chevron is kinda doing something with the old Gul legacy wells but fortunately the fresh water being contaminated is limited to private property. If it gets in some community fresh water, the company is in deep kimchi.
    Sequestration is a technology the supporters cannot prove will work long term and the long-term consequences are unknown. And TPL management is betting our future on it.
    https://www.texasmonthly.com/news-politics/mystery-west-texas-geyser-deepens/

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