Arnold & Porter Advises Carbonvert Inc. in Joint Venture with Talos for Offshore Carbon Capture Sequestration Project
Arnold & Porter advised Carbonvert Inc. in its joint venture with Talos Inc. for the creation of Bayou Bend CCS LLC, or “Bayou Bend”. The purpose of this joint venture is to establish the first ever major offshore carbon sequestration site in the United States, located offshore Jefferson County, Texas. This project site will cover over 40,000 acres with an estimated sequestration capacity of 225-275 million metric tons of CO2.
Arnold & Porter also advised Carbonvert in their negotiation with the State of Texas General Land Office (GLO) regarding the offshore lease for the project. This is the first carbon sequestration lease issued by the State of Texas GLO.
The Arnold & Porter team was led by partner Ron Levine, co-chair of the firm’s Corporate & Finance Group, and counsel Sara Glover. The team included partner Michele Rowland and counsel Pantea Garoussi, as well as senior associate Danielle Henderson, and associates Therese Fox and Alexa Krantz from the corporate & finance team. Senior counsel member Sandra Rizzo and senior associate Sarah Grey from the environmental team, and partners Katherine Ginzburg Triestman and Suneeta Hazra from litigation were also part of the team.