A Chevron Corporation CVX and Brightmark Fund Holdings joint venture (JV), Brightmark RNG Holdings LLC, recently announced that it has achieved a major milestone by delivering the first gas at 10 renewable natural gas (RNG) projects across the Midwest.
With the completion of this milestone, Brightmark RNG Holdings now owns and operates 15 RNG projects in the Midwest and has become one of the leading dairy RNG providers in the United States.
Brightmark’s RNG projects use anaerobic digestion technology, which converts organic waste from farms into RNG. This process not only captures harmful methane emissions but also provides a renewable energy source for transportation fuel. Brightmark’s RNG efforts have reduced more than 1.2 million tons of CO???eq emissions, equivalent to planting nearly 20 million trees and nurturing them for a decade.
The RNG projects help reduce methane emissions, which results in economic development in the local communities. The success of the RNG projects highlights the potential that natural gas carries and encourages new opportunities for transport, industry and consumers.
The farm owners are also happy to implement these projects as they help reduce waste while generating additional revenues and lowering carbon intensit.
California-based Chevron is one of the largest publicly traded oil and gas companies in the world, with operations that span almost every corner of the globe.Currently, CVX has a Zacks Rank #3 (Hold).
Investors interested in the energy sector might look at top-ranked stocks like ARC Resources Ltd. AETUF, Gulfport Energy Corporation GPOR and YPF Sociedad Anónima YPF.ARC Resources, Gulfport Energy and YPF Sociedad Anónima currently sport a Zacks Rank #1 (Strong Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Calgary, Canada-based ARC Resources is engaged in the exploration, acquisition and development of oil and natural gas properties. AETUF’s expected EPS growth rate for next year is 50.78%, which aligns favorably with the industry growth rate of 10.50%.
Gulfport Energy is an independent natural gas and oil company focused on the exploration and development of natural gas and oil properties in North America. The Zacks Consensus Estimate for GPOR’s 2024 earnings indicates 108.53% year-over-year growth.
YPF Sociedad Anonima is an international energy company based on the integrated business of hydrocarbons. The Zacks Consensus Estimate for YPF’s 2024 earnings indicates 50.59% year-over-year growth.
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