CO2 Conference Week

Recap of 2018 Seminar:

“45Q and CO2-EOR’s Vital Role in Carbon Management”

Keith Tracy45Q Seminar Lead Coordinator/Instructor

Midland TXDecember 6, 2018

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45Q and CO2 EOR’s Vital Role in Carbon ManagementDecember 4, 2018

Horseshoe Education Room, Midland Texas

Facility & Plant

Consulting, LLC

Table of Contents for the 2018 Seminar“45Q and CO2-EOR’s Vital Role in Carbon Management”

AM Session: What is 45Q and What is Different Now? Can the Worlds of CCS and CO2 EOR Merge?

A Welcome and Opening Remarks……………………………………………………………………… Michael Moore, Workshop Director and EWSAB Secrets in the 45Q Sauce: An Introduction to 45Q………………………………………………………………….. Keith Tracy, Cornerpost CO2 LLCC Secure Geologic Storage: The Overlay of 45Q on Business-As-Usual CO2 EOR………………………. Mark DeFigueiredo, EPA GHG RPD Three Small Letters That Pack a Punch: Strategies for 45Q “MRV” Plans……………………………………………… Sarah Wade, Wade LLC

Bob Mannes, Core Energy LLCE Let’s Make a Deal: Perspectives on 45Q Deal Structures

EOR Producer Perspective……………………………………………..……………………………….………. Ben Cook, Univ. of Wyoming EORIFinancial Investor Perspective………………………………………….... Jeff Brown, Stanford & Brown Bros Energy & EnvironmentLegal Perspective ………………………………………………………………………..………………….. David Lowman, Hunton Andrews Kurth

F Panel Discussion and Group Q&A (all morning speakers)

PM Session: Qualifying and Using 45Q: A Look into The Future

G Lone Star Leading: An Overview of Texas Geologic Sequestration Rules…………………. Leslie Savage, Texas Railroad CommissionH Permission Matters: Injection Well Strategies for 45Q Projects

Class 2 Non-EOR Wells…………………………………………………………………………………………………………. Alberto Gutierrez, GeolexClass 6 Wells and Financial Security Requirements…………………………………..... Chiara Trabucchi, Industrial Economics Inc

I Counting Up Incentives for EOR: Section 43 Comes Before 45Q……………………………….…. Jeff Lambert, Lambert Tax ConsultantsJ Guidance: Ten 45Q Considerations ……………………………………………………………….………………………. Keith Tracy, Cornerpost CO2 LLCK Not Standing Still: Looking Back at Passage of 45Q Amendments, and Looking Forward to Future Policy Development

How Did it Happen and Where it is Going…….………………………………………………. Brad Crabtree, Carbon Capture CoalitionMore on the Coalition and Where it is Going…………………………………………………………… Kurt Waltzer, Clean Air Task Force

L New Intersections: How 45Q Interplays with ROZs…………..……………………………………………….….. Steve Melzer, Melzer ConsultingM Concluding Remarks/Adjourn to Reception in the Education Room

Tues Evening Reception @ Horseshoe Facility – Sponsors - NCS MultiStage & Brown Brothers Energy & Environment

Section

Seminar InstructorsHosting Organization: The Applied Petroleum Technology Academy

• Keith Tracy: Lead Coordinator and Instructor – Cornerpost CO2 LLC

• Mike Moore: Co-Coordinator – East-West Strategic Advisors

• Steve Melzer: Coordinator and Instructor - Melzer Consulting, APTA

• Mark DeFigueiredo: EPA Greenhouse Gas Reporting Program

• Sarah Wade: Wade LLC

• Bob Mannes: Core Energy LLC

• Ben Cook: University of Wyoming and the Enhanced Oil Recovery Institute

• Jeff Brown: Stanford and Brown Brothers Energy & Environment

• David Lowman: Hunton Andrews Kurth

• Leslie Savage: Texas Railroad Commission

• Alberto Gutierrez: Geolex, Inc.

• Chiara Trabucchi: Industrial Economics, Incorporated

• Jeff Lambert: Lambert Tax Consultants

• Brad Crabtree: Great Plains Institute and Carbon Capture Coalition

• Kurt Waltzer: Clear Air Task Force

LAMBERT TAX CONSULTANTS, LLC

45Q Overview5

Mark DeFigueiredo6

Sarah Wade & Bob Mannes7

Ben Cook, Jeff Brown and David Lowman

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Leslie Savage9

Alberto Gutierrez10

Chiara Trabucchi11

Jeff Lambert12

LAMBERT TAX CONSULTANTS, LLC

IRS Guidance13

Brad Crabtree; Kurt Waltzer14

Steve Melzer15