The independent oil and gas company California Resources Corporation (NYSE:CRC) announced on August 24th that it will hold a virtual Carbon Storage Update on Wednesday, October 6, 2021, at 1 pm ET.
The pre-registration link for the virtual Carbon Storage Update can be accessed here participants can go to the Investor Relations section on www.crc.com on the day of the event.
The update will cover details of the launch of the company’s Carbon TerraVault I – a carbon capture and storage (CCS) project that aims eventually to store 10 million metric tons of carbon dioxide in a depleted oil and gas reservoir in the Elk Hills area near Tupman.
The event will also provide an update on CalCapture – the carbon capture, utilization, and storage (CCUS) project. The project involves using a process for the removal of carbon dioxide from the flue gas streams of the natural gas-powered 550MW Elk Hills power plant in Tupman, California. The captured CO2 is then used for enhanced oil recovery.
The company will also share its insights into its strategic carbon capture advantage and efforts to aid the energy transition in the State of California. It has been honored by the state to help make progress on its carbon neutrality goals.
More About California Resources Corporation
California Resources Corporation is an oil and gas company committed to facilitating the energy transition in the sector. It offers some of the lowest carbon intensity production in the US and is focused on developing carbon capture and storage (CCS) and other emissions-reducing projects, helping to accelerate their widespread adoption.
The carbon storage update will give some insights into the CRC’s progress with the alternative energy technologies. Participants will be eyeing key data on emissions reductions and economic impact across the company’s businesses from the development of the carbon capture technologies.