Archaea Energy Inc. (“Archaea”, “the Company” or “we”) LFGone of the largest producers of renewable natural gas (“RNG”) in the United States, today announced financial and operating results for the three and nine months ended September 30, 2022.
FINANCIAL HIGHLIGHTS
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Revenue of $105.0 million and net investment income of $2.9 million for the three months ended September 30, 2022 and Revenue of $239.1 million and net investment income of $7.1 million for the nine months ended September 30, 2022.
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net loss1 of $24.2 million for the three months ended September 30, 2022 and $24.8 million for the nine months ended September 30, 2022.
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Net loss per Class A common share (basic) of $0.18 for the three months ended September 30, 2022 and $0.15 for the nine months ended September 30, 2022.
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Produced and sold 2.42 million MMBtu RNG for the three months ended September 30, 2022 and 6.00 million MMBtu RNG for the nine months ended September 30, 2022.2
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Produced and sold 260,000 MWh of electricity for the three months ended September 30, 2022 and 584,000 MWh of electricity for the nine months ended September 30, 2022.2
PENDING MERGER
In October, the company announced that it had agreed to be acquired by bp bp for $26 per share in cash, or an aggregate enterprise value of approximately $4.1 billion, including approximately $800 million of net debt. Subject to regulatory approvals and Archaea shareholder approval, the parties are seeking to complete the…
