ExxonMobil Secures Largest Offshore Carbon Storage Lease in US Waters 

ExxonMobil has announced what it describes as the largest offshore carbon storage lease in the United States, covering 271,000 acres in Texas waters east of Galveston Bay.  

The agreement with the Texas General Land Office enhances the company's extensive carbon capture and storage (CCS) network along the Gulf Coast. 

Dan Ammann, president of ExxonMobil Low Carbon Solutions, emphasized that this significant infrastructure milestone underscores the company’s ongoing commitment to advancing CCS technology.

Under the new agreement, ExxonMobil and the Texas General Land Office will tackle carbon emissions and provide financial support to Texas’s public school system.  

The Texas General Land Office oversees surface and mineral rights in state waters and public lands, with commissions from resource exploitation allocated to the Texas Permanent School Fund, which finances public education in the state.

ExxonMobil has been actively expanding its carbon capture and storage (CCS) portfolio, demonstrating its commitment to advancing the energy transition. 

Last year, the company made headlines with its $4.9 billion acquisition of carbon capture developer Denbury, which added 15 new onshore carbon storage sites and 1,300 miles of carbon pipelines to its extensive CCS network. 

In addition to a CCS technology partnership with Mitsubishi Heavy Industries, ExxonMobil's client roster includes CF Industries, Nucor, and Linde, along with a recent New Generation Gas Gathering (NG3) agreement.  

The company plans to enhance its CCS operations at the LaBarge natural gas field in Wyoming.