Latest news with #Enverus
E&E News
5 days ago
- Business
- E&E News
AI turbocharges US hunt for minerals, fossil fuels
Artificial intelligence could be the new shale revolution. Just as fracking opened up new deposits of oil and gas, AI is turbocharging the hunt for fossil fuels and minerals, helping energy companies quickly map and find new areas to drill and mine. 'This is a massively powerful tool,' said Akash Sharma, senior director of product innovation and management at Enverus, an energy technology company. 'We are on the verge of the next productivity boom in civilization.' Advertisement The fast-moving technology can speed through massive datasets used in the energy industry much quicker than earlier methods, potentially allowing for faster examinations of new areas and quicker build-outs of new wells, experts told POLITICO's E&E News. AI is also super-charging the mapping of the United States' mineral resources — from the arid West to ocean bottoms — not to mention geothermal and environmental monitoring.
Business Wire
6 days ago
- Business
- Business Wire
Energy Meets AI: Calgary Executive Breakfast to Shape Alberta's Digital Future
CALGARY, Alberta--(BUSINESS WIRE)-- On , more than 100 senior leaders from Alberta's energy, AI, cloud, and infrastructure sectors will gather at Platform Calgary for the Energy & AI Data Centre Executive Breakfast - a curated leadership session launching Calgary Stampede week with a bold focus on Alberta's emergence as a global AI infrastructure powerhouse. Hosted by Future Summit, this curated gathering provides early access to the conversations, connections, and capital shaping Alberta's digital economy. Attendees will gain strategic positioning ahead of Future Summit 2025, taking place November 18–20 at the newly expanded BMO Centre. "Alberta is quickly rising as the premier global destination for next-generation AI data centres, and we're seeing significant inbound interest from top-tier global investors. The province offers a rare combination of advantages, including lower-cost energy, a milder climate ideal for hyperscale cooling, and an abundant natural gas supply, making it uniquely positioned for scalable and sustainable infrastructure. With exponential growth in AI models and compute demand, this sector is poised to accelerate rapidly, delivering massive long-term economic benefits for Alberta going forward." — Harish Consul, Founder & CEO, Ocgrow Ventures Featured Speakers: Carson Kearl, Lead Data Centre Analyst, Enverus (Moderator) Cory Janssen, CEO, AltaML Harish Consul, CEO, Ocgrow Ventures Ian MacGregor, Founder, North West Digital Power Pete Lafontaine, President, Rainforest Energy Wish Bakshi, AI Systems Engineer, Quant AiQ A fireside chat will be followed by Q&A and networking designed to foster collaboration ahead of major compute infrastructure announcements anticipated later this year. 'Data centres can be a new, non-facilities-constrained market for Alberta natural gas. No need for permits from other jurisdictions, pipelines or LNG plants, just make our gas into photons. Our gas transmission system is more reliable than our electrical grid. We can deliver reliable power with a low-cost, non-renewable option for reduced carbon intensity by building at our brownfield gas processing sites. We can do it fast, we can do it reliably without connecting to the grid, and we can deliver the cheapest, low-carbon power in the world.' – Ian MacGregor, Founder, North West Digital Power 'Alberta has attributes that make it an attractive market for data center expansion, namely abundant natural gas reserves and a welcoming political climate. While the AESO's interconnection queue makes it clear that there is interest from infrastructure players, the next step for the province is translating that interest over to hyperscale tenants. Those tenants are almost solely focused on American and recently Middle Eastern markets.' – Carson Kearl, Lead Data Centre Analyst, Enverus Event Details July 2, 2025 | 7:30 AM – 10:30 AM MST Grab your ticket here! Platform Calgary Agenda: 7:30 AM – Breakfast & Networking 8:30 AM – Welcome Remarks 8:45 AM – Fireside Chat 9:30 AM – Q&A + Networking 10:10 AM – Closing Remarks & Summit Preview For sponsorship inquiries info@ | 780-604-8241
Yahoo
6 days ago
- Business
- Yahoo
Energy Meets AI: Calgary Executive Breakfast to Shape Alberta's Digital Future
CALGARY, Alberta, June 04, 2025--(BUSINESS WIRE)--On Wednesday, July 2, 2025, more than 100 senior leaders from Alberta's energy, AI, cloud, and infrastructure sectors will gather at Platform Calgary for the Energy & AI Data Centre Executive Breakfast - a curated leadership session launching Calgary Stampede week with a bold focus on Alberta's emergence as a global AI infrastructure powerhouse. Hosted by Future Summit, this curated gathering provides early access to the conversations, connections, and capital shaping Alberta's digital economy. Attendees will gain strategic positioning ahead of Future Summit 2025, taking place November 18–20 at the newly expanded BMO Centre. "Alberta is quickly rising as the premier global destination for next-generation AI data centres, and we're seeing significant inbound interest from top-tier global investors. The province offers a rare combination of advantages, including lower-cost energy, a milder climate ideal for hyperscale cooling, and an abundant natural gas supply, making it uniquely positioned for scalable and sustainable infrastructure. With exponential growth in AI models and compute demand, this sector is poised to accelerate rapidly, delivering massive long-term economic benefits for Alberta going forward."— Harish Consul, Founder & CEO, Ocgrow Ventures Featured Speakers: Carson Kearl, Lead Data Centre Analyst, Enverus (Moderator) Cory Janssen, CEO, AltaML Harish Consul, CEO, Ocgrow Ventures Ian MacGregor, Founder, North West Digital Power Pete Lafontaine, President, Rainforest Energy Wish Bakshi, AI Systems Engineer, Quant AiQ A fireside chat will be followed by Q&A and networking designed to foster collaboration ahead of major compute infrastructure announcements anticipated later this year. "Data centres can be a new, non-facilities-constrained market for Alberta natural gas. No need for permits from other jurisdictions, pipelines or LNG plants, just make our gas into gas transmission system is more reliable than our electrical grid. We can deliver reliable power with a low-cost, non-renewable option for reduced carbon intensity by building at our brownfield gas processing can do it fast, we can do it reliably without connecting to the grid, and we can deliver the cheapest, low-carbon power in the world."– Ian MacGregor, Founder, North West Digital Power "Alberta has attributes that make it an attractive market for data center expansion, namely abundant natural gas reserves and a welcoming political climate. While the AESO's interconnection queue makes it clear that there is interest from infrastructure players, the next step for the province is translating that interest over to hyperscale tenants. Those tenants are almost solely focused on American and recently Middle Eastern markets."– Carson Kearl, Lead Data Centre Analyst, Enverus Event DetailsJuly 2, 2025 | 7:30 AM – 10:30 AM MSTGrab your ticket here! Platform Calgary Agenda:7:30 AM – Breakfast & Networking8:30 AM – Welcome Remarks8:45 AM – Fireside Chat9:30 AM – Q&A + Networking10:10 AM – Closing Remarks & Summit Preview For sponsorship inquiries info@ | 780-604-8241 View source version on Contacts info@ | 780-604-8241 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Carbon Capture Efforts Slow as Trump Targets Clean Energy Projects
Since U.S. President Donald Trump took office, the number of applications for carbon capture projects has nosedived, signaling a slowdown in the efforts to commercialize the relatively new technology to remove carbon from the air. Since the Trump Administration signaled it would be axing clean energy subsidies and tax credits, the nascent carbon capture sector, led by some of the biggest U.S. oil firms, has faced increasing uncertainty about the viability of many a result, the application process for Class VI wells, which are used to inject carbon dioxide (CO2) into deep rock formations, has stalled this year. The number of submitted Class VI applications plummeted by 55% to just four in the first quarter of 2025, compared to an average of nine applications per quarter over the last two years, according to data from Enverus Intelligence Research. The January-March quarter saw the fewest applications submitted in three years—since the first quarter of 2022, Enverus said in a report last no Class VI permits were approved in the first quarter of 2025, compared to three approvals in the fourth quarter of 2024 under the Biden Administration. At the end of 2024, Enverus expected about 40 approvals to go through this year. Now it sees only 14 Class VI wells approvals. The revised expectation is 'mostly attributed to updated approval times from Class VI regulators while they wait on applicants for responses to notices of deficiency and requests for additional information during the review process,' said Brad Johnston, an analyst at Enverus Intelligence Research. The U.S. Environmental Protection Agency (EPA) aims to review complete Class VI applications and issue permits when appropriate within approximately 24 months. However, the waiting time was about 30 months as of 2023, also due to a rush of applications at the time. Several U.S. states have requested – and received – the so-called Class VI well primacy, or primary enforcement authority delegated by the EPA, to issue permits. These include North Dakota, Wyoming, West Virginia, and Louisiana, with Texas moved into the Proposed Rulemaking Phase in the EPA's approval process for state primacy. A 2 million metric ton per annum (mtpa) carbon capture and storage (CCS) project in Louisiana has recently received a draft permit from the state's Department of Energy and Natural Resources. This was the first such permit issued since the state obtained Class VI primacy over a year ago, Enverus said. But overall, lengthy permitting times and the many unknowns regarding clean energy incentives and tax credits under the Trump Administration have cooled enthusiasm about carbon capture technology among U.S. companies. One notable exception was Occidental, which is pursuing direct air capture (DAC) technology that is different from carbon capture and storage. In a first-of-its-kind approval in April, Occidental and its subsidiary 1PointFive received Class VI permits from the EPA to sequester carbon dioxide from their STRATOS DAC facility, currently under construction in Ector County, many carbon capture and storage (CCS) projects reached the end of the road after U.S. Secretary of Energy Chris Wright terminated last week 24 awards to projects, primarily CCS and decarbonization initiatives. The Department of Energy found that 'these projects failed to advance the energy needs of the American people, were not economically viable and would not generate a positive return on investment of taxpayer dollars.' The awards to projects would have used $3.7 billion in taxpayer-funded financial assistance by DOE. 'While the previous administration failed to conduct a thorough financial review before signing away billions of taxpayer dollars, the Trump administration is doing our due diligence to ensure we are utilizing taxpayer dollars to strengthen our national security, bolster affordable, reliable energy sources and advance projects that generate the highest possible return on investment,' said Secretary Wright. Under Secretary Wright's memo on responsible financial assistance, DOE evaluated each of these 24 awards and 'determined that they did not meet the economic, national security or energy security standards necessary to sustain DOE's investment.' In response, the Carbon Capture Coalition, which includes companies and conservation policy organizations, said that the cancellation of the projects 'is a major step backward in the nationwide deployment of carbon management technologies.' 'Moves like this risk ceding America's energy and technological leadership to other nations,' the coalition added. The tax credit for carbon capture remains, for now, but some analysts say it's not enough to help the industry take off. The $85 per metric ton tax credit 'is and continues to be insufficient to justify widespread deployment of post-combustion carbon capture', Rohan Dighe, an analyst at Wood Mackenzie, told the Financial Times. The limitations to transferability of the credits after 2027 will also kill many small projects, Brenna Casey, a carbon capture associate at BloombergNEF, told FT. The carbon capture market could soon reach a point in which only the oil majors could afford to be active in it. But even majors such as ExxonMobil have conditioned their investments in low-carbon energy solutions on favorable policy and regulation. At the end of 2024, Exxon said it is pursuing up to $30 billion of low-emission opportunities between 2025 and 2030, but 'execution of these opportunities is contingent on the right policy and regulation as well as continued technology and market development.' By Tsvetana Paraskova for More Top Reads From this article on
E&E News
29-05-2025
- Business
- E&E News
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. Advertisement 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.
