Alaska Carbon Dioxide Storage Unit Agreement
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Table State or territory% total CO?CO? (Mt)Alaska0.8%36.0Arizona1.7%79.8Arkansas1.2%54.7California6.6%303.754 more rows
Ownership. W.S. § 34-1-152 grants pore space ownership to the surface owner and allows it to be severed from the surface and separately conveyed. In 2009 W.S. § 35-11-316 created an 80% unitization requirement.
The lease agreement provides Denbury with the exclusive right to develop and operate approximately 16,000 acres of subsurface pore space owned by Weyerhaeuser in Simpson and Copiah Counties in Mississippi.
On average, 100 acres of forested lands removes 115 tons of carbon dioxide each year.
Alaska has important competitive advantages for the development of a CCUS industry. The State owns the pore space used for storage under State lands, which allows leasing of large contiguous storage sites.
SB 48 establishes a statewide carbon offset program within the Department of Natural Resources (DNR). That means a business or entity that produces carbon dioxide can offset those emissions by buying credits generated by nature-based projects on State land.
Under American rule, the mineral estate holder owns the minerals but not the geologic formation. The surface owner owns the geologic pore space and has storage rights.
(a) General rule. --The ownership of all pore space in all strata below the surface lands and waters of the Commonwealth shall be vested in the owner of the surface above the pore space.
