BP logo for a gas station sign. (Source: Shutterstock)
BP has completed its $4.1 billion acquisition of renewable natural gas (RNG) provider Archaea Energy Inc., BP said in a Dec. 28 press release.
The acquisition, announced in October, was finalized following BP’s completion of regulatory requirements and Archaea obtaining shareholder approval.
RELATED
BP Acquires RNG Producer Archaea Energy for $4.1 Billion
Based in Houston, Archaea Energy operates 50 RNG and landfill gas-to-energy facilities in the U.S. and is expected to provide an immediate 50% increase to BP’s biogas supply volumes, BP said in October.
The acquisition broadens BP’s presence in the U.S. biogas industry and gives BP customers access to decarbonization support. BP will also be better positioned to reduce the average lifecycle carbon intensity of its energy products, the company said.
Bioenergy is part of BP’s focus in the next decade, with investment into its transition growth businesses expected to reach more than 40% of its total annual capital expenditure by 2025 and 50% by 2030.
Recommended Reading
Bloom Energy, Chart Industries Form CCUS Partnership for Low-Emissions NatGas
2025-02-14 - Bloom Energy and Chart Industries aim to use natural gas and fuel cells to generate power through their carbon capture partnership.
Apollo Funds Acquires NatGas Treatment Provider Bold Production Services
2025-02-12 - Funds managed by Apollo Global Management Inc. have acquired a majority interest in Bold Production Services LLC, a provider of natural gas treatment solutions.
TotalEnergies Enters 10-Year LNG Supply Deal with Indian E&P
2025-02-12 - Commencing in 2026, TotalEnergies will supply Gujarat State Petroleum Corp. with 400,000 tons of LNG, amounting to six cargoes per year, to terminals on India's west coast.
VAALCO Acquires 70% Interest in Offshore Côte D’Ivoire Block
2025-03-03 - Vaalco Energy announced a farm-in of CI-705 Block offshore West Africa, which it will operate under the terms of an acquisition agreement.
Diversified Bolts-On Appalachia Gas Production, Midstream Assets
2025-01-06 - Diversified Energy will buy Summit Natural Resources’ assets, including producing wells and coal mine methane wells, in the southern part of the Appalachian Basin.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.