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EPA Issues Class VI Well Permits to ExxonMobil for Carbon Capture and Storage Project in Texas

LCG, October 21, 2025--The U.S. Environmental Protection Agency (EPA) today issued three final Underground Injection Control (UIC) Class VI permits to ExxonMobil for their Rose Carbon Capture and Storage (CCS) Project located in Jefferson County, Texas. Under the Safe Drinking Water Act, these permits allow ExxonMobil to convert three existing test wells permitted by the state to carbon dioxide (CO2) storage injection wells for long-term storage.

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Holtec Receives New Nuclear Fuel at Palisades for Planned Restart

LCG, October 20, 2025--Holtec International announced today that the Palisades Nuclear Power Plant site in Michigan has received new nuclear fuel – 68 assemblies in total – that achieves a major milestone on the path to restarting the plant. The 800-MW facility was shutdown and decommissioned in 2022 due primarily for economic reasons; however, Holtec is progressing towards restarting the original unit by the end of this year, pending all necessary federal regulatory reviews and approvals. Achieving a successful restart of a shutdown nuclear unit will be a historic first for the nuclear industry.

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Industry News

Enron May Drop Selling Price to $5 Billion

LCG, Nov. 27, 2001--With the investment community casting growing doubt on the future of Dynegy Inc.'s agreement to purchase much larger Enron Corp. for $8.3 billion, Enron may try to keep the deal alive by cutting its price to about $5 billion, the Wall Street Journal reported today.

Under the stock swap agreement reached two weeks ago between Dynegy and Enron, each share of Dynegy would fetch 3.72 shares of Enron. Dynegy closed yesterday on the new York Stock Exchange at $29.25, which would place a value of $7.86 on each Enron share.

However, Enron closed at $4.01, after trading at all time lows during the day.

The Wall Street Journal said renegotiation of the two-week-old deal, and particularly the exchange ratio for the stock swap, is almost unprecedented in corporate transactions.

Clearly something had to give because of an escape clause in the agreement that give Dynegy the option to walk away from the deal if there is a material deterioration in Enron's business or assets. Recent news has painted Enron as a house of cards, burdened by $13 billion in debt and with relatively few hard assets.

Enron also is attempting to head off a liquidity crisis by negotiating to extend the maturity dates of some of its borrowings, the paper said.

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