Lone Cypress Energy Services Announces First of its Kind Helium Exploration, Carbon Capture and Storage Project in Southwestern U.S.

TULSA, Okla., April 7, 2022 /PRNewswire/ -- Lone Cypress Energy Services ("Lone Cypress"), an industry leader in the development of cutting-edge energy transition projects, today announced its participation in a first of its kind helium exploration, and carbon capture and storage project with Proton Green, LLC ("Proton Green"). The project will be developed in the Four Corners region of the Southwestern U.S.

The project represents a partnership between Lone Cypress and Proton Green, an energy transition platform company based out of Houston, TX, with unique capabilities in both helium production and carbon sequestration. Proton Green acquired the St. Johns Gas Unit from Kinder Morgan in late 2021.

Helium will be produced out of the St. Johns Gas Unit in Apache County, Arizona, which is anticipated to hold upwards of 33 Bcf of associated helium reserves. Lone Cypress is responsible for construction and operation of all the associated midstream gathering and processing infrastructure for the helium production.

The project will also feature a state-of-the-art carbon capture and storage system that will capture the associated carbon dioxide from the helium production process in addition to other heavy emissions sources (i.e., power plants and industrial facilities) in the neighboring vicinity.  These emissions will be geologically sequestered in an isolated formation within the St. Johns Gas Unit with upwards of 1 billion metric tons of storage capacity.

Project development will assume a multi-phased approach, beginning with the commencement of the helium drilling program and commissioning of the helium gas processing facility.  With the gas processing facility in operation, the partners intend to then begin construction of the carbon capture system, contingent upon the completion of the requisite permitting process. Once operational, the CCUS system will strip carbon emissions from the helium production stream and transport the carbon molecules via pipeline to a Class IV injection well for permanent sequestration. 

In a statement, Greg Brooks, President of Lone Cypress, said "We are excited to be a part of such a unique and exciting project. Lone Cypress continues to be at the forefront of the energy transition through its involvement in progressive opportunities like this.  We look forward to building upon this partnership with the Proton Green team and see opportunities to mutually drive value through it over the long-term."

Steve Looper, President of Proton Green, said "We are extremely proud to be partnering with another emerging leader in the energy transition field. Lone Cypress is a leader in the development and operation of infrastructure across the entire energy value chain. Their support is a validation of the efficacy of both our helium production and carbon sequestration projects, and strategically advances our goal of becoming the primary operator in the State of California. We look forward to executing this project in conjunction with our partners at Lone Cypress, delivering shareholder and stakeholder value as we work towards a net zero carbon future."

About Lone Cypress Energy Services

Lone Cypress Energy Services, LLC is an independent energy company focused on the development and operation of infrastructure spanning the entire energy value chain. Lone Cypress offers a full suite of technology-enabled solutions including project management, EPC contracting, and asset operations. Lone Cypress specializes in the development of carbon capture, utilization, and storage systems, hydrogen generation and distribution projects, waste to energy plant solutions, and traditional oil and gas midstream facilities. Our senior leadership team is anchored by technical professionals with over 100 years of combined execution experience. For more information, please visit www.lonecypressenergyservices.com

About Proton Green, LLC.

Proton Green LLC is poised to become one of the leading North American producers of helium and hydrogen, while also building out its position as one of the leading carbon sequestration operators in North America. With operating control over the St. Johns Field, a 152,000-acre property in Apache Country, Arizona, the Company controls a massive helium reservoir and carbon storage basin. Helium remains in short supply and is used to cool magnets in MRI systems, as the temperate of silicon during semiconductor manufacturing, for space and satellite system applications, as well as in many other critical technologies. Carbon capture and sequestration is fast becoming a climate imperative, and the Company has the ability to inject up to 22 million metric tons of CO2 per year at its primary basin, and over one billion tons of total storage capacity.

SOURCE Lone Cypress Energy Services, LLC.