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Weyerhaeuser (WY) Agrees to Lease Mississippi Site to Denbury
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Weyerhaeuser Company’s (WY - Free Report) stock moved up 1.05% in the after-hours trading session on Dec 12. The company announced its collaboration with Denbury Inc. for the evaluation and potential development of a CO2 sequestration site, located at Simpson and Copiah Counties in Mississippi.
Per the lease agreement, Denbury will develop and operate approximately 16,000 acres of WY’s subsurface pore space, which is adjacent to its NEJD Pipeline. Denbury plans to utilize the site to permanently sequester industrial CO2 in secure underground geologic formations, while Weyerhaeuser will continue to manage the timberland acreage as a sustainable working forest.
WY’s senior vice president and chief development officer, Russell Hagen, stated, “This agreement represents another important milestone in the growth of our carbon capture and sequestration (CCS) business, and it supports our broader commitment to sustainability and providing natural climate solutions across our land base. We are excited to partner on this project with Denbury and unlock the option value created when combining our uniquely positioned acreage and subsurface ownership with high-quality developers of CCS projects in the Gulf South.”
Weyerhaeuser has always been on a carbon neutrality forefront. The recent move is also in line with its previously announced plan to grow its Natural Climate Solutions business, including through CCS, forest carbon offsets, renewable energy development, mitigation solutions and conservation. It has identified multiple locations for potential sequestration projects across a portion of its 7-million-acre footprint in the U.S. South using proprietary geological data covering its lands.
More capital inflows for carbon/ESG-related projects are likely to prove beneficial for Weyerhaeuser. For the Natural Climate Solutions business, WY continues to remain engaged with high-quality developers for renewable energy and carbon capture and storage opportunities across its acreage.
Governments and businesses across the globe are making efforts on climate change and aim to significantly reduce greenhouse gas emissions to net zero. Achieving these commitments will require governments and companies to take major steps to modify operations, invest in low-carbon activities and purchase offsets to reduce environmental impacts. The company remains uniquely positioned to help entities achieve these goals through natural climate solutions, including forest carbon sequestration and carbon capture and storage activities.
Image Source: Zacks Investment Research
Shares of Weyerhaeuser have gained 6.4% in the past three months, outperforming the industry’s 2% rally.
Two better-ranked stocks in the Zacks Construction sector are CRH plc (CRH - Free Report) and Janus International Group, Inc. (JBI - Free Report) , both carrying a Zacks Rank #2 (Buy).
CRH manufactures cement, concrete products, aggregates, roofing, insulation and other building materials.
CRH’s expected earnings growth rate for 2022 is 22.1%. The Zacks Consensus Estimate for current-year and next-year earnings has improved to $3.98 and $3.43 per share from $3.46 and $3.42, respectively, over the past 30 days.
Headquartered in Temple, GA, Janus manufactures and supplies turn-key self-storage and commercial and industrial building solutions. Solid backlog levels, an impressive project pipeline, productivity improvements and commercial actions, including pricing, are expected to drive growth. The company is expected to benefit from its one-stop-shop offering with a leading market share position in self-storage doors and related design and installation services.
Janus’ earnings for 2022 are expected to rise 21%. The Zacks Consensus Estimate for current-year and next-year earnings has improved to 75 cents and 88 cents per share from 69 cents and 80 cents, respectively, over the past 30 days.
About DEN
Denbury is an independent energy company with operations and assets focused on Carbon Capture, Use and Storage (CCUS) and Enhanced Oil Recovery (EOR) in the Gulf Coast and Rocky Mountain regions.
The Zacks Consensus Estimate for Denbury’s 2022 earnings is pegged at $7.96 per share, up 210.9% from the year-ago earnings of $2.56. The Zacks Consensus Estimate for DEN’s 2022 earnings has been revised about 10.4% upward over the past 60 days, from $7.21 per share to $7.96.
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Weyerhaeuser (WY) Agrees to Lease Mississippi Site to Denbury
Weyerhaeuser Company’s (WY - Free Report) stock moved up 1.05% in the after-hours trading session on Dec 12. The company announced its collaboration with Denbury Inc. for the evaluation and potential development of a CO2 sequestration site, located at Simpson and Copiah Counties in Mississippi.
Per the lease agreement, Denbury will develop and operate approximately 16,000 acres of WY’s subsurface pore space, which is adjacent to its NEJD Pipeline. Denbury plans to utilize the site to permanently sequester industrial CO2 in secure underground geologic formations, while Weyerhaeuser will continue to manage the timberland acreage as a sustainable working forest.
WY’s senior vice president and chief development officer, Russell Hagen, stated, “This agreement represents another important milestone in the growth of our carbon capture and sequestration (CCS) business, and it supports our broader commitment to sustainability and providing natural climate solutions across our land base. We are excited to partner on this project with Denbury and unlock the option value created when combining our uniquely positioned acreage and subsurface ownership with high-quality developers of CCS projects in the Gulf South.”
Weyerhaeuser has always been on a carbon neutrality forefront. The recent move is also in line with its previously announced plan to grow its Natural Climate Solutions business, including through CCS, forest carbon offsets, renewable energy development, mitigation solutions and conservation. It has identified multiple locations for potential sequestration projects across a portion of its 7-million-acre footprint in the U.S. South using proprietary geological data covering its lands.
More capital inflows for carbon/ESG-related projects are likely to prove beneficial for Weyerhaeuser. For the Natural Climate Solutions business, WY continues to remain engaged with high-quality developers for renewable energy and carbon capture and storage opportunities across its acreage.
Governments and businesses across the globe are making efforts on climate change and aim to significantly reduce greenhouse gas emissions to net zero. Achieving these commitments will require governments and companies to take major steps to modify operations, invest in low-carbon activities and purchase offsets to reduce environmental impacts. The company remains uniquely positioned to help entities achieve these goals through natural climate solutions, including forest carbon sequestration and carbon capture and storage activities.
Image Source: Zacks Investment Research
Shares of Weyerhaeuser have gained 6.4% in the past three months, outperforming the industry’s 2% rally.
Zacks Rank & Key Picks
Weyerhaeuser currently sports a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Two better-ranked stocks in the Zacks Construction sector are CRH plc (CRH - Free Report) and Janus International Group, Inc. (JBI - Free Report) , both carrying a Zacks Rank #2 (Buy).
CRH manufactures cement, concrete products, aggregates, roofing, insulation and other building materials.
CRH’s expected earnings growth rate for 2022 is 22.1%. The Zacks Consensus Estimate for current-year and next-year earnings has improved to $3.98 and $3.43 per share from $3.46 and $3.42, respectively, over the past 30 days.
Headquartered in Temple, GA, Janus manufactures and supplies turn-key self-storage and commercial and industrial building solutions. Solid backlog levels, an impressive project pipeline, productivity improvements and commercial actions, including pricing, are expected to drive growth. The company is expected to benefit from its one-stop-shop offering with a leading market share position in self-storage doors and related design and installation services.
Janus’ earnings for 2022 are expected to rise 21%. The Zacks Consensus Estimate for current-year and next-year earnings has improved to 75 cents and 88 cents per share from 69 cents and 80 cents, respectively, over the past 30 days.
About DEN
Denbury is an independent energy company with operations and assets focused on Carbon Capture, Use and Storage (CCUS) and Enhanced Oil Recovery (EOR) in the Gulf Coast and Rocky Mountain regions.
The Zacks Consensus Estimate for Denbury’s 2022 earnings is pegged at $7.96 per share, up 210.9% from the year-ago earnings of $2.56. The Zacks Consensus Estimate for DEN’s 2022 earnings has been revised about 10.4% upward over the past 60 days, from $7.21 per share to $7.96.