When C12 Energy, a company that uses CO2 for enhanced oil recovery, was considering acquiring oil and gas assets in North Dakota and Arkansas, they asked Barr to provide environmental review and due diligence support. The assets included hundreds of oil leases and injection wells, and associated documentation such as spill logs, sundry notices, and well redevelopment and maintenance records.
To accommodate C12’s timeline, Barr screened the lease site information and focused our efforts on the sites with the highest potential for environmental problems or costly repairs. We also conducted a reconnaissance of CO2 pipeline routes, using our GIS reconnaissance tools to narrow the field visits to critical areas such as wetlands and water crossings.
Barr’s innovative approach helped reduce the due diligence cost by more than 80 percent compared to a typical evaluation, and let C12 act quickly to capitalize on the opportunity.