Growth in renewable power is huge, and it's just getting started.
How big is this. It's huge. Absolutely huge. Humongous. From the article:
So while still operating in the carbon space, it's adjusting at the fringes to the greening world. But for investors, Enbridge's clean energy segment offers promise, accounted for 3% of EBITDA in 2020.
That 3% is projected to be 4% at the end of 2022.
Okay.
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Harold Hamm To Acquire 172,000 Net Acres
In Powder River Basin
From the blog, last Thursday :
Chesapeake Energy: another acquisition. Nears $2.4 billion deal to buy Chief Oil & Gas.
Now, today, an update from a contributor over at SeekingAlpha.
- Chesapeake Energy agrees to acquire Chief E&D Holdings ... for $2B in cash and ~9.44M common shares, confirming earlier speculation, and agrees to sell its Powder River Basin assets in Wyoming to Continental Resources for ~$450M in cash.
- In the Chief Oil & Gas deal, Chesapeake will acquire 113K net Marcellus acres projected to produce 835M cf/day of net gas for nine months in 2022 and generate $500M in 2022 projected adjusted EBITDAX.
- The company's Powder River Basin assets include 172K net acres and 350 operated wells in Wyoming; Q4 Powder River Basin volumes are expected to average 19K boe/day.
- Upon closing of the deal, Chesapeake plans to operate two rigs on the acquired properties during 2022, resulting in a total of 9-11 gas-focused rigs and 2-3 oil-focused rigs.
- Chesapeake expects its portfolio to generate ~75% of 2022 projected cash flow from natural gas assets and 25% from oil assets, once the deals close.
Back of the envelope, for CLR:
- $450 million / 172,000 net acres = $2,600 / acre
- $450 million / 19,000 boepd = $24,000 / flowing boepd
Re-posted here with additional background.
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Saudi Arabia and Natural Gas
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