Lapis Energy has partnered with a subsidiary of Denbury Inc. to develop and operate a CO2 sequestration project at Lapis Energy's 14,000-acre carbon storage site in St Charles Parish, Louisiana, about 20 miles west of New Orleans. Both parties will hold a 50% interest in the new project company, Libra CO2 Storage Solutions LLC.

Denbury has committed CO2 volumes to support the site's initial development, with the first injection planned for 2027. The site is expected to hold at least 200 million metric tons of CO2 and, due to its proximity to industrial hubs, has the potential to serve as a regional decarbonization hub.