Monroe Sequestration Partners (“MSP”), which is developing a major carbon sequestration hub in northern Louisiana, has sold a 50% equity stake to Canada-based DevvStream Holdings Inc., a leading carbon credit project co-development and generation firm, for an undisclosed price. The transaction, which was announced in October and closed in early November, was funded by 2 million newly issued shares of DevvStream’s stock. MSP was a subsidiary of private equity sponsor Crestmont Investments LLC. MSP is converting a legacy oil and gas field that spans 425 square miles across three parishes in northern Louisiana into a carbon sequestration reservoir. The project is expected to yield a total storage capacity of 260 million tons of CO2. Local sources adjacent to MSP’s operation emit roughly 30 million metric tons of CO2 annually, and the sequestration project will be capable of capturing a significant portion of these emissions. In December 2023, the Environmental Protection Agency granted the State of Louisiana primary enforcement authority over Class VI underground injection wells, which are used to store/sequester carbon emissions in underground geological formations. As a result of this decision, Louisiana has become a hotbed of activity in the Carbon Capture, Utilization, and Storage/Sequestration industry. Bryan Hanks, a Louisiana Oil & Gas Association board member, is enthusiastic about the project’s promise. “Louisiana is in the enviable position to lead the nation and the world in carbon sequestration projects,” Hanks said. “The state represents an ideal location due to its natural geologic formations, pipeline infrastructure, meaningful access to carbon emissions sources from multiple plant and factory corridors, and a workforce rich in experience with surface and downhole operations – combinations unmatched anywhere. (MSP) has assembled a tremendous team to maximize the unique opportunities our region provides, and the addition of DevvStream, with their expertise across all classes of environmental assets, helps ensure that project revenues will be generated with professionalism and transparency.” Revenues from MSP’s project will be generated through federal tax credits under Section 45Q of the U.S. Internal Revenue Code, which offers $85 per ton of CO2 stored. Additional revenue streams are expected from the sale of voluntary carbon offset credits and CO2 storage fees. October also saw three notable Louisiana oil and gas service company acquisitions. Norwegian oilfield services company Archer Limited announced its agreement to acquire Houma’s Wellbore Fishing & Rental Tools (“WFR”) for $51.5 million. WFR specializes in providing wellbore intervention engineering solutions, services, and technologies to oil & gas companies operating onshore and offshore, aiding them in the removal of stuck equipment, pipe and tools from wellbore spaces. Additionally, WFR offers workover and P&A capabilities, valuable competencies in a time when the Gulf of Mexico’s deepwater P&A market is projected at over $18 billion. The WFR transaction continues a streak of deals by Archer, whose M&A investments tally to just over $100 million in the past three and a half years. Gordon Technologies, LLC (“Gordon”), based in Scott, LA, acquired Vertex Downhole Trading LLC (“Vertex UAE”), the Dubai operations of Vertex Downhole Technologies Inc, based in Calgary, Canada.  The transaction will accelerate Gordon’s global expansion and offerings in the Measurement While Drilling market. Gordon is majority owned by Enersol, a joint venture between ADNOC Drilling and Alpha Dhabi Holdings, which increased its stake in Gordon to 67.2% earlier this year.  Terry Frith, CEO of Gordon, said, “Gordon’s acquisition of Vertex less than eight weeks after Enersol’s second investment in Gordon demonstrates our commitment to rapidly building Gordon’s footprint in the Middle East and as the leading MWD provider in the Eastern Hemisphere.” The acquisition will accelerate Gordon’s market penetration to Vertex UAE’s existing customers across 30 different countries. Finally, NOV Inc. acquired Broussard-based Fortress Downhole Tools, a leading provider of recyclable setting tools and services in North America. Fortress’ setting tool technology and unique recycling program reduce downtime and waste compared to conventional field redressable and disposable setting tool offerings. Purchase price was not disclosed.   G.F. Gay Le Breton is managing director for Chaffe & Associates Inc., responsible for the corporate finance activities of the firm. Liam Norton is a corporate finance analyst with the firm. Investment banking services are provided by Chaffe Securities Inc., member FINRA/SIPC. For more information, visit http://chaffe-associates.com.