Steve Melzer discusses the phases of CO2 EOR and the CO2 markets in the Rockies and Permian Basin.

Dr. S. Julio Friedmann discusses the re-imagining of RD&D priorities within the industry.

A brief introduction to the key capital budgeting financial metrics used in evaluating projects, how those rules can be used to allocate scarce capital to the highest value projects, and a guided discussion with attendees on how these concepts apply to evaluating EOR projects.

• We think of CO2 as the greenhouse gas (GHG) causing global warming.
• The Stern Report and the several IPCC (Intergovernmental Panel on Climate Change) reports are gaining acceptance.
• In its most recent report (AR4 Synthesis Report November 17, 2007) the IPCC has written: Warming of the climate system is unequivocal, as is now evident from observations of increases in global average air and ocean temperatures, widespread melting of snow and ice, and rising global average sea level.
• The report goes further to say: Most of the observed increase in globallyaveraged temperatures since the mid-20th century is very likely due to the observed increase in anthropogenic GHG concentrations.
• The Supreme Court on April 2, 2007 in a 5 to 4 decision decided that CO2 was a pollutant and the EPA could regulate auto emissions of the GHG (Chemical & Engineering News, April 3, 2007).

Enhanced-Oil Recovery (EOR) for asset acquisition or rejuvenation involves intertwined decisions. In this sense, EOR operations are tied to a perception of high investments that demand EOR workflows with screening procedures, simulation and detailed economic evaluations. Procedures have been developed over the years to execute EOR evaluation workflows.