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Senate panel advances two bills to support enhanced oil recovery using Wyoming CO2
Summary
The Wyoming Senate Appropriations Committee voted to advance Senate File 17, which would seed a state fund to equalize payments for CO2 used in enhanced oil recovery, and Senate File 18, which would exempt certain enhanced oil recovery production from part of the severance tax. Both measures passed the committee by recorded roll calls.
Chairman Salazar presided as the Senate Appropriations Committee advanced two related bills aimed at encouraging enhanced oil recovery (EOR) projects using Wyoming-source carbon dioxide.
Pete Obermuller, president of the Petroleum Association of Wyoming, told the committee that Senate File 17 includes an appropriation intended as startup money for a new state fund. "The appropriation is, it essentially is seed money in order to get the program started, but, under the under the legislation, it will be, both refilled and then self funded with severance taxes into the future," Obermuller said. He described the plan as a Wyoming "plus up" to federal incentives tied to the federal 45Q tax credit.
The bills are intended to address differences in federal payments under the 45Q tax credit, which provide different per‑ton values…
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