Methodology

The methodology of this project included social, economic, environmental, and political analysis along with risk analysis which was done through extensive research and theoretical understanding of how carbon capture and storage is being utilized and how it can be implemented in future endeavors. Through this analysis a broad understanding of carbon capture and storage technology needed to be put into a more concise form to better understand what this project would entail. With the research and the analysis that was conducted, a conclusion could be generated to see if carbon capture and storage is a viable option for hydraulic fracturing companies.

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This project provides the following STEEP opportunities:

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Social: Allows operators and service companies to meet social pressure regarding the curtailment of carbon emissions.

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Technological: Enables companies to capture their own carbon dioxide for EOR and fracking services.

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Economic: Prevents companies from having to purchase carbon dioxide for EOR and fracking services, provides the opportunity to receive subsidized funding and/or tax credits where applicable, and reduces penalties on carbon emissions where applicable.

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Environmental: Reduces the amount of carbon dioxide emitted to the atmosphere.

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Political: Allows companies to be in accordance with policy regarding carbon emissions and carbon taxes/fees.

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The STEEP opportunities were used in the creation of the theoretical example which was generated in order to see if carbon capture and storage technology can be implemented at a hydraulic fracturing site.