Arcadia Biosciences (RKDA) Enters Into Business Combination Agreement with Roosevelt Resources in All-Stock Transaction
Roosevelt Resources
Low-carbon to Carbon-negative Energy project
Roosevelt Resources is developing one of the largest enhanced oil recovery (EOR) projects in the Permian Basin of West Texas to be formed in recent decades.
16,000+
Contiguous acres in the Permian Basin
~1.35B<sup>1</sup>
Gross Barrels of Oil Equivalent in Place (Schlumberger Study – August 2024)
Horizontal Wells with Advanced Configurations
We believe our innovative use of horizontal wells should recover significantly increased amounts of hydrocarbons in our carbon capture utilization and storage (CCUS) and enhanced oil recovery (EOR) project, compared to conventional straight-hole methods. We will leverage Earth’s natural layering to improve carbon dioxide (CO2) contact with oil in place.
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Legacy of Leadership
Our seasoned executive, management and operational teams have over 150 years of collective experience in both the upstream and midstream sectors of the energy industry. We have successfully developed large-scale domestic and international energy projects.
Meet Our Team1Oil equivalent in place (“OIP”) indicates the estimated reserves in the reservoir. Actual oil recoverables is significantly less than the OIP. Estimates of OIP are not in accordance with the hydrocarbon reserve methodology of the SEC. Estimates of produceable and recoverable hydrocarbons are dependent on many factors, including the costs of development and operations, capital expenditures to be made and actual prices received for oil and natural gas. Estimates of produceable and recoverable hydrocarbons are not estimates of reserves prepared in accordance with regulations of the SEC.