BP(US:BP)2022-08-17 01:13Financial Highlights - 2Q 2022 net income was $32.6 million[12] - 2Q 2022 Adjusted EBITDA was $30.1 million[12] - The company increased 2022 Adjusted EBITDA guidance range to $132.5 – $147.5 million[12] Operational Achievements - RNG Produced and Sold was 2.04 Million MMBtu[12] - Electricity Produced and Sold was 159 thousand MWh[12] - Expanded commercial partnership with Énergir via new 20-year, fixed-price contract for more than 2 million MMBtu / year[13] - New commercial partnership with UGI via 5-year, fixed-price contract for 331,785 MMBtu / year[13] Strategic Initiatives - Initial capital contribution to Lightning Renewables JV for $222.5 million[12] - Lightning Renewables JV successfully acquired an additional site ("Fort Wayne") for $38 million[28] - Closed INGENCO acquisition[12] - Won 3 competitive RFP processes to develop new RNG facilities at municipal landfills[12] Future Outlook - The company targets 70% of RNG volumes committed under long-term, fixed-price agreements[98] - The company has a high-quality project backlog creates clear trajectory for Adjusted EBITDA growth[86]