Energy Transition

Lucid to Develop Largest CCS Project in the Permian Basin

Lucid Energy Group received EPA approval on Jan. 11 for its plan for the sequestering of CO₂ from its Red Hills gas processing complex in New Mexico’s Lea County.

Hart Energy Staff

Tue, 01/11/2022 - 11:55 AM

Lucid to Develop Largest CCS Project in the Permian Basin

Lucid currently operates the largest private gas gathering and processing system in the northern Delaware Basin. (Source: Lucid Energy Group)

Lucid Energy Group laid out plans on Jan. 11 to develop the largest carbon capture and storage (CCS) project in the Permian Basin.

“Since our entry to the Delaware Basin five years ago, Lucid has targeted investments in large-scale gas treating assets, which empower our customers to develop highly economic drilling locations with associated off-spec gas,” Lucid CEO Mike Latchem commented in a company release.

Based in Dallas, Lucid Energy Group is the largest privately held natural gas processor in the Permian Basin. The company’s gathering and processing system is centered in the northern Delaware Basin, strategically located in the two most active counties in the Lower 48—New Mexico’s Eddy and Lea counties.

Sign up for FREE access to view this article now!

Unlock Free Access

In this article

Chart reflects yearly performance.

Recommended Reading

US Drillers Cut Oil Rigs for First Time in 13 Weeks

U.S. oil rigs fell by one to 491 this week, while gas rigs rose four to 113, their highest since January 2020, according to the closely followed Baker Hughes report.

Houston’s GATE Energy Awarded Major CCUS Project with E&P Operator

"This award reiterates GATE's position as the global leader in the energy transition,” Karthik Annadorai, executive vice president of GATE Energy, said.

Morgan Stanley Expects Oil at $100 a Barrel in Second Half of 2022

The investment bank said key oil products markets are showing "steep backwardation and inventories that have fallen to low levels."