This bill does not impede or impair EOR operations, including the right to sell emission reduction credits associated with EOR. The term carbon dioxide injection well does not include UIC Class II wells.
Notes:
The board shall develop rules for conversion of EOR wells to carbon dioxide injection wells.
This bill does not apply to EOR projects. The Commission may allow an EOR project to be converted to a storage facility.
Notes:
The Commission may adopt procedures and criteria to determine the amount of injected CO2 stored in an EOR project, to facilitate carbon credits or allowances for EOR projects.
The recovered oil tax rate is reduced 50% for EOR projects that use anthropogenic CO2, and that will conduct a monitoring and verification program to reasonably demonstrate that at least 99% of the injected CO2 will remain sequestered for 1,000 years.
This bill does not apply to injection of fluid through a UIC Class II well for EOR. A conversion of a well from use in EOR to use in geologic storage is not considered to be a change in the purpose of the well. Provisions related to ownership of CO2 do n
CO2 injected for EOR is not subject to provisions of this bill. This bill does not impede or impair EOR operations, including the right to sell emission reduction credits associated with EOR. If an EOR operator converts its operations to CO2 sequestration
Injection of CO2 for EOR is not subject to the provisions of this bill. This bill does not impede or impair EOR operations, including the right to sell emission reduction credits associated with EOR. If an EOR operator converts to geologic sequestration