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Abstract

Sorensen, J. A., L. S. Botnen, E. N. Steadman, J. A. Harju, L. D. Helms, and D. W. Fischer, 2009, Unitization of geologic media for the purpose of monetizing geologic sequestration credits, in M. Grobe, J. C. Pashin, and R. L. Dodge, eds., Carbon dioxide sequestration in geological media—State of the science: AAPG Studies in Geology 59, p. 707715.

DOI:10.1306/13171272St593378

Copyright copy2009 by The American Association of Petroleum Geologists.

Unitization of Geologic Media for the Purpose of Monetizing Geologic Sequestration Credits

James A. Sorensen,1 Lisa S. Botnen,2 Edward N. Steadman,3 John A. Harju,4 Lynn D. Helms,5 David W. Fischer6

1Energy and Environmental Research Center, Grand Forks, North Dakota, U.S.A.
2Energy and Environmental Research Center, Grand Forks, North Dakota, U.S.A.
3Energy and Environmental Research Center, Grand Forks, North Dakota, U.S.A.
4Energy and Environmental Research Center, Grand Forks, North Dakota, U.S.A.
5North Dakota Department of Mineral Resources Oil and Gas Division, Bismarck, North Dakota, U.S.A.
6Fischer Oil and Gas, Inc., Grand Forks, North Dakota, U.S.A.

ACKNOWLEDGMENTS

This report was prepared with the support of the U.S. Department of Energy National Energy Technology Laboratory Cooperative Agreement DE-FC26-05NT42592. However, any opinions, findings, conclusions, or recommendations expressed herein are those of the authors and do not necessarily reflect the views of the U.S. Department of Energy.

ABSTRACT

The development of carbon credit markets for geologic sequestration will require a framework for accounting injected CO2 that is based on detailed characterization data, sound engineering design, and an equitable legal and regulatory process. The monetization of CO2 credits associated with geologic sequestration will require a streamlined process that addresses the technical aspects of a project and also considers the interests of the public and the rights of individuals who may own subsurface mineral and water rights. Such a system has already been established in the oil field unitization process under which the United States petroleum industry currently operates. Oil and gas regulatory agencies in the United States use a process commonly referred to as unitization to organize oil fields into units for the purpose of secondary and tertiary recovery operations. The process by which petroleum fields become unitized may provide a useful model for the selection of appropriate injection target formations and the governing of geologic sequestration projects. Although petroleum reservoirs, saline aquifers, and coal seams generally use different mechanisms for sequestration (for example, dissolution into oil versus dissolution into saline water versus adsorption onto coal), the unitization process may be adapted and applied to all types of geologic formations. Application of the unitization process to CO2 sequestration may result in the establishment of ldquogeologic sequestration units.rdquo

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