Milestone Environmental Services LLC launched a new business unit focused on carbon capture and sequestration for middle-market emitters to be led by Chris Davis, who joined Milestone in July after a long career at Exxon Mobil Corp.
“Today marks a momentous occasion for Milestone with the creation of our carbon sequestration business unit, which will expand our reach and allow us to provide secure carbon sequestration solutions to customers outside of the upstream energy market,” commented Milestone President and CEO Gabriel Rio in a company release on Sept. 8.
Based in Houston, Milestone is one of the largest independent providers of energy waste sequestration services in the U.S. The company has assets throughout the Permian Basin and the Eagle Ford Shale.
The launch of Milestone’s carbon sequestration business unit follows the recent release of the company’s inaugural sustainability report, which highlighted its commitment to continued focus on ESG initiatives such as Milestone’s sequestration of 279,000 metric tons of CO2e in 2020 through the injection of hydrocarbon-rich waste streams from the upstream oil and gas industry.
“The aggressive global push for reduced greenhouse-gas (GHG) emissions and more environmentally conscious solutions is driving organizations to rethink their operations in profound ways,” Rio continued. “Milestone’s proven track record of building and managing patented carbon-negative technology positions us as a partner of choice for middle-market companies looking to quickly achieve their sustainability goals.”
In his role as vice president of carbon sequestration, Davis will be responsible for all areas of strategy, design, development and implementation of the business unit and related carbon capture project development.
“As society rallies around the dual objectives of reducing greenhouse gas emissions and delivering reliable, affordable energy essential to modern life, CCS is uniquely suited to address both goals, at scale, today and well into the future,” Davis added in the release.
Davis joins the Milestone executive leadership team to direct the new carbon sequestration business unit with more than 15 years of experience in the global energy industry. Most recently, he participated in several CCS projects and other GHG reduction initiatives at Exxon Mobil and its subsidiary, XTO Energy.
“Successful carbon capture projects require a broad understanding of technical, commercial, and regulatory matters across the value chain, and I’ve been fortunate to have worked in all these areas over my career,” he said. “In contrast to companies focused on large regional carbon sequestration projects that may take up to a decade or more to develop, Milestone is aggressively pursuing right-sized CCS opportunities in response to our customers’ near-term GHG reduction priorities.”
Deals with Murphy Oil affect the Khaleesi / Mormont and Samurai field developments through the new King’s Quay floating production system.
July 2021: Walker Ridge Block 758 Discovery Tested Flowing 5,701 bbl of Oil, 12.77 MMcf of Gas per Day
Analysis highlights opportunity to repurpose FPSOs for marginal field development.