Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, July 15, 2011

Article Excerpt

CHESAPEAKE ENERGY CORP., $32.96, symbol CHK on New York, will invest up to $1 billion over the next ten years in companies that are developing ways to replace gasoline and diesel with cleaner-burning natural gas. Chesapeake is the second-largest natural-gas producer in the U.S., after Exxon Mobil. The company will make these investments through a new fund, Chesapeake NG Ventures Corp. It will start by investing $305 million in two firms: First, it will invest $155 million in Sundrop Fuels Inc. That will give it a 50% interest in the company. Sundrop plans to build a plant that makes transportation fuel from plant fibre and agricultural waste. This plant, which is scheduled to start up in 2013, will be able to produce 40 million gallons of fuel a year. Second, Chesapeake will buy $150 million of bonds issued by Clean Energy Fuels Corp. over three years. This company builds fuelling stations for heavy trucks that run on gas instead of diesel. Further, Chesapeake…

You are trying to access subscriber-only content.

To read this article, you may subscribe or sign in.
If you are already a subscriber, log in here.

If you wish to become a subscriber, click here. Or you may enjoy access to all our publications when you become a Member of Pat McKeough's Inner Circle Pro.