Welcome to our dedicated page for Archaea Energy news (Ticker: LFG), a resource for investors and traders seeking the latest updates and insights on Archaea Energy stock.
Archaea Energy Inc. (LFG) drives innovation in renewable natural gas production through landfill methane capture and conversion. This dedicated news hub provides investors and stakeholders with essential updates on operational milestones, sustainability initiatives, and strategic developments shaping the low-carbon energy sector.
Access timely announcements about new RNG facilities, partnership agreements with energy leaders, and financial performance metrics. Our curated collection features press releases covering project commissioning updates, technology advancements, and market expansion efforts across Archaea Energy's national operations.
Discover comprehensive coverage of LFG's environmental impact through emissions reduction achievements and long-term sustainability commitments. The resource serves both financial professionals tracking renewable energy investments and environmentally conscious readers monitoring clean fuel innovations.
Bookmark this page for continuous access to verified updates about Archaea Energy's role in transforming waste emissions into sustainable solutions. Check regularly for the latest developments in RNG production capabilities and corporate growth strategies.
On December 28, 2022, bp completed its acquisition of Archaea Energy Inc., a leader in renewable natural gas (RNG). This strategic move enhances bp's bioenergy business and aligns with its commitment to support customer decarbonization goals. The acquisition grants bp a stronger foothold in the U.S. biogas industry, expected to drive growth in bioenergy, which is a key component of bp's transition strategy. Investments in transition growth businesses are forecasted to exceed 40% of annual capital expenditure by 2025, aiming for 50% by 2030. Following the acquisition, Archaea shares will no longer trade on the NYSE.
Archaea Energy Inc. (NYSE: LFG) reported financial results for Q3 and YTD 2022, showing revenues of $105 million and $239 million respectively. However, the company faced a net loss of $24.2 million for Q3 and $24.8 million YTD. The merger with bp, valued at $4.1 billion, is pending regulatory and shareholder approval, targeting closure by year-end. Cash and equivalents totaled $299.5 million as of September 30, 2022. Notably, costs surged due to increased general and administrative expenses and higher energy prices, impacting profitability.
Archaea Energy Inc. (NYSE: LFG) announced plans to release its third quarter 2022 financial results on November 10, 2022, after market close. The company will not hold a conference call due to its pending acquisition by bp, announced on October 17, 2022. As a major RNG producer in the U.S., Archaea focuses on developing, constructing, and operating facilities that convert waste emissions into low carbon fuel, leveraging technology to enhance efficiency and reduce costs. The firm aims to partner with landfill and farm owners to create renewable energy centers.
bp has announced its agreement to acquire Archaea Energy for $3.3 billion in cash and approximately $800 million in net debt. This acquisition will significantly enhance bp's position in the renewable natural gas (RNG) sector, with expectations to increase RNG production by five-fold by 2030. The deal is projected to double bp's EBITDA from biogas to $2 billion by 2030 and is expected to be accretive to earnings and free cash flow per share. The acquisition emphasizes bp's commitment to its net zero goals by 2050.
Archaea Energy Inc. (NYSE: LFG) has announced its agreement to be acquired by bp (NYSE: BP) for approximately
Archaea Energy reported strong financial results for Q2 and the first half of 2022, with revenues of $77.2 million and net income of $32.6 million for Q2. For the six months, revenues reached $134.1 million but net income was slightly negative at $0.5 million. The company increased its full-year Adjusted EBITDA guidance to $132.5 million - $147.5 million and capital expenditures to $325 million - $365 million. Recent strategic moves include the acquisition of INGENCO and the formation of a joint venture with Republic Services, aiming to boost their renewable natural gas production.
Archaea Energy Inc. (NYSE: LFG) has expanded its partnership with Énergir L.P. by entering a new long-term RNG purchase and sale agreement. This new contract, which awaits regulatory approval, will see Énergir procure approximately 2.04 million MMBtu of renewable natural gas (RNG) annually from Archaea over 20 years, starting in October 2023. The agreement supports Énergir's goal of incorporating 2% RNG into its total natural gas volumes by 2023, with a target of 5% by 2025, contributing towards reducing greenhouse gas emissions in Quebec.
Archaea Energy Inc. (NYSE: LFG) has signed a five-year RNG purchase and sale agreement with UGI Utilities for 331,785 MMBtu of renewable natural gas (RNG) annually from its Assai RNG facility, effective July 1, 2022. This partnership marks Archaea's second term agreement with a U.S. utility, aiming to enhance sustainability efforts and reduce environmental footprints. Archaea, a prominent RNG producer, focuses on long-term contracts to provide sustainable decarbonizing solutions, leveraging its expertise in RNG development and operation.
Archaea Energy Inc. (NYSE: LFG) will release its second quarter 2022 financial results on August 16, 2022, before markets open. A conference call for investors will follow at 11:00 a.m. Eastern Time, allowing discussion of the results. Archaea is a leading producer of renewable natural gas (RNG) in the U.S., focused on developing and operating facilities to convert waste emissions into low carbon fuel. The company emphasizes a long-term contract strategy, providing reliable, sustainable solutions to displace fossil fuels.
