AMSTERDAM, March 17,
2022 /PRNewswire/ -- Core Laboratories N.V. (NYSE:
"CLB US" and Euronext Amsterdam: "CLB NA") ("Core", "Core Lab", or
the "Company") and Talos Energy Inc. ("Talos") (NYSE: "TALO") have
announced a strategic alliance to provide technical evaluation and
assurance for carbon capture and sequestration ("CCS")
opportunities. The alliance combines Core Lab's market-leading
reservoir description and optimization technologies with Talos's
expertise in subsurface characterization and engineering.
Under this alliance, Core Lab and Talos will collaborate to
evaluate potential CCS sites for suitability and optimal subsurface
stratigraphic targets through robust reservoir characterization
techniques, including: stratigraphic test wells, reservoir core
sampling and geological evaluation, as well as analysis of rock and
fluid sample properties. These technical data sets will be used to
deliver best-in-class sequestration assurance through custom
subsurface evaluation and monitoring plans. The alliance also
provides a framework for the two companies to further explore
opportunities to collaborate on delivering technical assurance
around transparency in monitoring and verification of
CO2 streams.
In addition to the alliance, Talos is participating as a member
in Core Lab's recently inaugurated joint-industry CCS consortium.
The consortium will enhance the nascent CCS industry's knowledge of
the geotechnical challenges and risks associated with subsurface
storage of CO2, with a focus on considerations relating
to reservoir capacity, injectivity and containment integrity.
Core Laboratories' CEO, Larry
Bruno, commented, "We are excited to collaborate with Talos
to deliver CCS solutions aimed at reducing industrial carbon
emissions. This alliance, built on complementary technical
strengths in subsurface characterization and reservoir
optimization, will enhance the speed at which scalable, reliable
and safe carbon sequestration solutions can be delivered to the
market. We are excited about the positive impact this work
will ultimately have on climate initiatives."
Talos' Executive Vice President Low Carbon Strategy and Chief
Sustainability Officer, Robin
Fielder, commented, "We are pleased to announce this
strategic alliance with Core Laboratories to collaborate on
delivering technical assurance for our sequestration sites and,
ultimately, for our customers. Capitalizing on our respective
subsurface expertise, this alliance further advances Talos's
ability to deliver high-quality, end-to-end CCS solutions to
potential customers across the Gulf Coast."
ABOUT TALOS ENERGY
Talos Energy (NYSE: "TALO") is a technically driven independent
exploration and production company focused on safely and
efficiently maximizing long-term value through its operations,
currently in the United States and
offshore Mexico, both upstream
through oil and gas exploration and production and downstream
through the development of future carbon capture and storage
opportunities. As one of the Gulf
of Mexico's largest public independent producers, we
leverage decades of technical and offshore operational expertise
towards the acquisition, exploration and development of assets in
key geological trends that are present in many offshore basins
around the world. With a focus on environmental stewardship,
we are also utilizing our expertise to explore opportunities to
reduce industrial emissions through our carbon capture and storage
initiatives along the U.S. Gulf Coast and Gulf of Mexico. For more information,
visit www.talosenergy.com.
Core Laboratories N.V. is a leading provider of proprietary and
patented reservoir description and production enhancement services
and products used to optimize reservoir performance. The
Company has over 70 offices in more than 50 countries and is
located in every major oil-producing province in the world. This
release, as well as other statements we make, includes
forward-looking statements regarding the future revenue,
profitability, business strategies and developments of the Company
made in reliance upon the safe harbor provisions of Federal
securities law. The Company's outlook is subject to various
important cautionary factors, including risks and uncertainties
related to the oil and natural gas industry, business conditions,
international markets, international political climates, public
health crises, such as the COVID-19 pandemic, and any related
actions taken by businesses and governments, and other factors as
more fully described in the Company's most recent Forms 10-K, 10-Q
and 8-K filed with or furnished to the U.S. Securities and Exchange
Commission. These important factors could cause the Company's
actual results to differ materially from those described in these
forward-looking statements. Such statements are based on current
expectations of the Company's performance and are subject to a
variety of factors, some of which are not under the control of the
Company. Because the information herein is based solely on
data currently available, and because it is subject to change as a
result of changes in conditions over which the Company has no
control or influence, such forward-looking statements should not be
viewed as assurance regarding the Company's future performance.
The Company undertakes no obligation to publicly update or
revise any forward-looking statement to reflect events or
circumstances that may arise after the date of this press release,
except as required by law.
Visit the Company's website at www.corelab.com. Connect with
Core Lab on Facebook, LinkedIn and YouTube.
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SOURCE Core Laboratories N.V.