CO2 storage approval forecast slashed 65%
Federal and state agencies are projected to approve less than half the number of carbon storage permits than previously forecast this year, an analytics firm said Wednesday.
In a new report, Enverus Intelligence Research projected 14 permit approvals for Class VI wells in 2025, down 65 percent from the company's prior estimate of 40.
Yet, while the number of approvals forecast for this year is more muted than once expected, it's still an uptick over the five approved in 2024, the report showed. The update from Enverus also comes amid a push by the federal government to put greater control over carbon dioxide well permitting into the hands of state agencies and departments.
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Several well permits were expected to be approved this December, but those targets have shifted into 2026, according to Brad Johnston, an Enverus Intelligence Research analyst. Estimated approval dates often get extended, Johnston said, as EPA and states wait for applicants to reply to requests for more information or because of deficiency notices.
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