The U.S. Bureau Of Land Management Approves Mineral Leasing Act Right-Of-Way Grant To Cadiz For Northern Pipeline; Assignment Of MLA ROW Grant Clears Title For Financing
Portfolio Pulse from Benzinga Newsdesk
The U.S. Bureau of Land Management (BLM) has approved the assignment of a Mineral Leasing Act right-of-way (ROW) grant to Cadiz Inc. for the company's Northern Pipeline. This approval finalizes Cadiz's acquisition of the 220-mile pipeline from El Paso Natural Gas (EPNG) and enables the company to proceed with project development. The pipeline is central to Cadiz's clean water and energy initiatives, including green hydrogen and low-emission generation projects.
December 16, 2023 | 11:33 pm
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Cadiz Inc. receives BLM approval for a ROW grant, completing the acquisition of the Northern Pipeline from EPNG, which is crucial for the company's clean water and energy projects.
The BLM's approval is a significant regulatory milestone for Cadiz Inc., as it allows the company to move forward with its clean water and energy projects. This positive development is likely to be viewed favorably by investors and could lead to a short-term increase in the company's stock price due to the potential for project advancement and future revenue streams.
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