Evolution is committed to uphold high standards of environmental stewardship and responsible business practices. We recognize the role energy plays in every aspect of our lives, as such, Evolution believes in the use of secondary and tertiary recovery methods to extend the life of oil and natural gas reservoirs and fields. These recovery methods reduce the environmental footprint of establishing new operations. We partner with operators that share our desire to operate and work with high regard for ethics and responsibility. We partner with operators that share a common goal of achieving full compliance with regulatory requirements while minimizing our impact on the environment.
Evolution owns a combination of oil and natural gas assets that exhibit all three phases of oil and natural gas extraction:
- Primary Recovery
- Secondary Recovery (i.e., waterflood)
- Tertiary Recovery (i.e., CO2 flood)
The Company’s recent acquisition of non-operated oil and natural gas assets in the Barnett Shale is an example of primary recovery. Primary recovery is considered the first stage of oil extraction and relies on the natural or in situ reservoir pressure combined with artificial lift techniques such as pumps. Evolution’s oil assets located in the Hamilton Dome Field in Hot Springs County, Wyoming are based on secondary recovery which utilizes fluid injection in order to maintain or increase reservoir pressure and direct the displacement of oil into producing wells. Our interests in the Delhi Field in Louisiana utilize tertiary recovery. Tertiary recovery, also known as enhanced oil recovery (EOR), employs injection of gas, heat, or chemicals into the reservoir in order to change the physical properties of the oil and aid in its extraction. Primary and secondary recovery phases typically extract between 10% and 40% of the reservoir’s original oil in place. Tertiary recovery is used to recover the remaining extractable volumes over an extended period; these volumes would otherwise have been left in place.
Evolution’s Delhi Field operations utilize gas injection for tertiary recovery by pumping CO2 into the producing reservoir. CO2 injection, or CO2 flooding, is typically used wherever CO2 is readily available for production or purchase and transport. Naturally occurring reserves of CO2 are present in the Jackson Dome Field in Central Mississippi, northeast of Jackson, Mississippi and east of Delhi Field.
We continue to work with our third-party operators to focus on the following:
- Compliance with all federal, state, and local laws
- Minimizing emissions from our assets
- Reducing the amount of flaring of natural gas
- Maintaining our investment in the utilization of recaptured CO2 in the Delhi Field which helps reduce our carbon footprint as a Company
- Transparency with all third-party operators
- Protecting access to safe groundwater in the communities near our operations
- Maintaining well integrity and stability
- Minimizing the number of incidents associated with spills and other accidents through adequate training and supervision of all employees