Month: March 2024

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Elk Range Royalties Announces First Mineral and Royalty Acquisition in the Appalachian Basin

DALLAS–(BUSINESS WIRE)–Elk Range Royalties (“Elk Range”) is pleased to announce its first acquisition of certain mineral and royalty interests (“the Acquisition”) in the Appalachian Basin from an undisclosed private seller.

The Acquisition included roughly 8,000 net royalty acres across 3 states, including West Virginia, Pennsylvania, and Ohio. This marks the first Appalachian Basin deal closed by Elk Range. The Acquisition includes 194 producing gross locations and approximately 0.67 net wells operated by top operators such as EQT, Antero, CNX, Southwestern, and Range. This deal is a continuation of Elk Range Royalties’ efforts to expand its acquisition efforts into high-quality, low-breakeven basins. Elk Range funded the acquisition utilizing equity commitments from funds managed by NGP Energy Capital Management LLC (“NGP”).

Charlie Shufeldt, CEO of Elk Range, commented, “Our team has invested considerable time and effort to underwrite, diligence and close this acquisition opportunity. We have substantial dry powder and are poised to continue acquiring in the Appalachian basin. We look forward to growing our presence there.”

Gibson, Dunn & Crutcher LLP and Sherrard, German & Kelly, P.C. served as legal counsel for Elk Range on the transaction.

About Elk Range Royalties

Elk Range is led by Charlie Shufeldt (CEO), Clinton Koerth (Vice President of Land and Business Development), Jeff Stewart (Vice President of Engineering) and Ashleigh Bell (Vice President of Finance & Accounting). Elk Range manages a portfolio consisting of approximately 40,000 NRAs with an interest in over 5,000 horizontal wells across the Permian, Uinta, Anadarko, Eagle Ford, Haynesville, Denver-Julesburg, and Appalachian basins under the Elk Range Royalties, 89 Energy II Minerals and Land Run Minerals platforms.

For more information visit www.elkrange.com.

About NGP

NGP is a premier private equity firm that believes energy is essential to progress. Founded in 1988, NGP is moving energy forward by investing in innovation and empowering energy entrepreneurs in natural resources and energy transition. With $23 billion of cumulative equity commitments, we back portfolio companies focused on responsibly solving and securing the energy needs of today and leading the way to a cleaner, more reliable, more affordable energy future.

For more information, visit www.ngpenergy.com.

Contacts

Charlie Shufeldt
(972) 432-1340
info@elkrange.com

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News

Mill, an NGP investment and urban composting innovator, is named to Fast Company’s “World’s 50 Most Innovative Companies of 2024” and “#1 Most Innovative Consumer Goods Company in the World”

Mill Industries is No. 27 on the list of the World’s 50 Most Innovative Companies of 2024. Explore the full list of companies that are reshaping industries and culture.

A major climate change culprit is hiding in your kitchen: food scraps. Apple cores, carrot tops, and uneaten bits of dinner are a surprisingly potent source of emissions, spewing methane as they decompose in landfills. Mill, a stylish garbage bin (really!) meant specifically for food scraps, dehydrates and grinds them up into a fine, odorless powder. After the bin’s release in early 2023, the company sold out of its initial production run of thousands of Mills; a second, optimized version of the bin is coming out this spring.

Mill is a lighter-lift alternative to kitchen composting, which is often challenging for urbanites and notorious for conjuring fruit fly infestations. Mill’s ground-up food waste empties into a shoebox-size, prepaid mailer, which takes about a month to fill. Users can then send the waste to the company to be rerouted back into the food chain as nutrient-rich chicken feed that Mill now sells to small farm partners in Washington state, after receiving regulatory approval in January 2024. The entire cycle cuts emissions and reduces municipal waste management costs.

Designing lust-worthy hardware to inspire climate-conscious behavior change has become a specialty of Mill cofounder Matt Rogers. A former Apple software engineer, he co-created the pioneering Nest smart thermostat, which helps homeowners and renters better control their energy use. Akin to how Nest partnered with utilities to accelerate adoption, Mill initiated two city-scale pilot projects in Pittsburgh and Tacoma to prove out the emissions and financial savings of processing food waste this way.

Mill launched under a subscription model that runs about $1 per day, and customers now have the option to buy the device outright for $999. If Mill succeeds in getting more cities, building owners, and even companies to integrate it into their waste management practices, those organizations will subsidize or absorb the cost of the device. With city-run compost collection programs struggling to take hold, Rogers sees Mill as a cost-effective and, crucially, easier way to divert food scraps from the waste stream. “You can’t start at the curb,” says Rogers. “You need to do it at the kitchen level.”

Explore the full 2024 list of Fast Company’s Most Innovative Companies, 606 organizations that are reshaping industries and culture. We’ve selected the firms making the biggest impact across 58 categories, including advertising, artificial intelligence, design, sustainability, and more.

BY CLINT RAINEY

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Anew Achieves Six First Place Rankings in Environmental Finance Annual Market Survey

Published on February 29, 2024 | Houston

Anew Climate, LLC is honored to have earned client recognition in 11 categories in the 2023 – 2024 Environmental Finance Annual Market Rankings. This achievement was made possible through client nominations and demonstrates the sustained strength of Anew’s innovative and diverse solutions portfolio. Environmental markets continue to rapidly evolve to address global climate goals, and Anew remains at the leading edge to ensure we produce trusted results for our clients that create economic value as well as durable climate impact.

Anew was voted number one in the following categories:

  • Best project developer: North American Markets (All – includes Canada and Mexico)
  • Best project developer: California
  • Best trading company, options & futures: North American Markets (California)
  • Best trading company: North American Markets (RGGI)
  • Best trading company: Renewable Identification Numbers Market
  • Best advisory/consultancy: Renewable Identification Numbers Market

Anew was awarded runner-up in the following categories:

  • North American Markets (California): Best trading company, OTC/spot
  • North American Markets (All – includes Canada and Mexico): Best trader
  • Energy Attribute Certificates – North America: Best trading company
  • Energy Attribute Certificates – North America: Best advisory
  • Renewable Natural Gas Market: Best trading company

This set of awards continues a series of consecutive wins by Anew, including the ninth year running for Best Project Developer All North American Markets, Best Advisory/Consultancy – Renewable Identification Numbers Market (eight years running), and Best Trading Company – RGGI (seven years running) and a second consecutive win for Best Trading Company and Advisory/Consultancy – RINs markets.

Insights on the company’s successes over the past year and what Anew is anticipating in the year ahead can be found in Environmental Finance’s interview with CEO Angela Schwarz.

The rankings, now in their 24th year, represent the largest international environmental markets survey. Respondents vote for companies based on their influence in the market, quality of products and services, and transaction efficiency among other criteria.

About Anew Climate

Anew Climate, LLC, is a global leader of diverse climate solutions built on the principles of transparency and accountability. We bring innovative products and services to the public and private sectors to help reduce or offset their carbon footprints, restore the environment, and ensure our clients’ investments create economic value as well as durable climate impact. With deep market understanding, Anew leverages technological and nature-based solutions to create value through the generation and marketing of environmental credits for low carbon fuel, carbon, renewable energy, and emissions markets. Anew is majority owned by TPG Rise, TPG’s global impact investing platform. The company has offices in the U.S., Canada, Spain, and Hungary and an environmental commodities portfolio that extends across five continents.