Continental Resources Enters Carbon Capture Space with $250 Million Investment

Continental Resources agreed to commit $250 million to Summit Carbon Solutions as part of a strategic investment in the construction of the largest carbon capture and sequestration project of its kind in the world.

Continental Resources Enters Carbon Capture Space with $250 Million Investment

The carbon capture project will primarily capture CO₂ from ethanol plants and other industrial sources in the Midwest and be permanently sequestered in the Williston Basin in North Dakota, where Continental Resources has “unmatched experience and knowledge,” says Summit Ag Investors President Justin Kirchoff. (Source: Hart Energy)

Continental Resources Inc. has pledged $250 million to create the largest carbon capture and sequestration (CCS) project of its kind in the world to be centered in the Williston Basin, marking the U.S. shale producer’s entrance into the burgeoning carbon capture space.

“Continental has been actively engaged in limiting our carbon footprint for decades with our pioneering work in horizontal drilling, our invention of ECO-Pad technology and industry-leading gas capture initiatives. We look forward to working with Summit Carbon Solutions to become leaders in carbon capture and sequestration,” Continental CEO Bill Berry commented in a company release on March 2.

According to the release, Continental Resources agreed to commit $250 million to Summit Carbon Solutions as part of a strategic investment to help build a new CSS project across the Midwestern U.S., which Berry said the company believes will become a model for the rest of the world.

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Emily Patsy

Emily Patsy is the senior managing editor for Hart Energy’s Digital News Group. She's responsible for the daily news flow and also manages the A&D Watch and Energy Pulse weekly newsletters.