Denbury Data, page-10

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danpech

1,109 Posts.

327

06/09/18

00:44

Post #: 35437515

Originally posted by CBMud ↑

Denbury installed all the CO2 recovery facilities at Madden and the export pipeline whereas ExxonMobil delivered dehydrated CO2 most of the way to Grieve which might explain the price difference. I am surprised that ConcoPhillips would sell it at the Lost Cabin plant gate for 15-18c/MCF. What is the source for the Madden price? Elk's share of a 1 MCF of Madden gas (CO2) might have been 16c-18c = $1+/MCF.

Denbury bought the equivalent of 31.4 MMSCFD of gas (presumably CO2) from Lost Cabin in July and WOGCC has yet to post their CO2 purchases from La Barge for July but the June purchase was 74.2 MMSCFD, The following table details Denbury's purchases of CO2 for its Rocky Mountain EOR operations - I have no idea how they put a price on each MCF of CO2 injected but the $1/MCF guess is less than $20/tonne delivered which is about as cheap as you can buy CO2.

Column 1 Column 2 Column 3 Column 4

1 Lost Cabin MMSCFD La Barge MMSCFD Grieve injectn MMSCFD *

2 Sep-17 0.0 56.2 0.0

3 Oct-17 8.3 0.0 0.0

4 Nov-17 34.2 76.7 0.0

5 Dec-17 30.7 94.5 0.0

6 Jan-18 32.2 96.0 0.0

7 Feb-18 25.7 97.9 0.0

8 Mar-18 21.6 94.6 0.0

9 Apr-18 33.8 95.2 14.2

10 May-18 30.8 92.1 33.9

11 Jun-18 26.1 74.2 31.4

12 Jul-18 31.4 ?? 35.9

* assumed to be all purchased CO2 injected at Grieve since Denbury has not registered any produced gas (to be recycled CO2) in their production reporting to WOGCC.

Expand

Thanks for that info.

From Denbury a cost breakdown of all their CO2.

https://s1.q4cdn.com/594864049/file...018/2018-Credit-Suisse-Presentation-FINAL.pdf

Looks like the average purchase cost ranges from 15cents to 30 cents per MCF depending on the oil price

Cheers

Dan

Last edited by danpech: 06/09/18

ELK Price at posting: 7.6¢ Sentiment: Buy Disclosure: Held

1 Upvote

0 Great analysis

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	Column 1	Column 2	Column 3	Column 4
1		Lost Cabin MMSCFD	La Barge MMSCFD	Grieve injectn MMSCFD *
2	Sep-17	0.0	56.2	0.0
3	Oct-17	8.3	0.0	0.0
4	Nov-17	34.2	76.7	0.0
5	Dec-17	30.7	94.5	0.0
6	Jan-18	32.2	96.0	0.0
7	Feb-18	25.7	97.9	0.0
8	Mar-18	21.6	94.6	0.0
9	Apr-18	33.8	95.2	14.2
10	May-18	30.8	92.1	33.9
11	Jun-18	26.1	74.2	31.4
12	Jul-18	31.4	??	35.9

Denbury Data, page-10

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