February 2010 Cover Story

Denbury’s Business Model Demonstrates Feasibility Of CO2 EOR In Mature Fields

By Greg Schnacke

PLANO, TX.–Carbon dioxide enhanced oil recovery has been utilized safely and securely since 1974, but is experiencing a renaissance in the national policy debate over industrial carbon capture, sequestration and storage. From the Obama administration, to national environmental groups such as the Natural Resources Defense Council and leading government and academic scientific organizations such as the Bureau of Economic Geology at the University of Texas, the Massachusetts Institute of Technology, the Southern States Energy Board and the U.S. Department of Energy’s National Energy Technology Laboratory, a common theme is emerging that CO2 EOR will be a significant driver in future U.S. energy and environmental policy.

Denbury Resources Inc. is one company that has taken significant steps over the past decade, and has emerged as a leader in CO2 EOR. The company has strategically positioned itself through a focused acquisition, divestiture and organic growth strategy to emerge as perhaps the largest independent CO2 EOR-focused company in the United States today.

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