Rayonier Announces Additional Pore Space Lease Agreements with ExxonMobil
21 Fevereiro 2024 - 6:15PM
Business Wire
Rayonier (NYSE:RYN) today announced that it has entered into
additional underground pore space lease agreements with ExxonMobil
covering approximately 33,000 acres of timberlands in the United
States. These leases increase Rayonier’s total acres under pore
space lease agreements with ExxonMobil to approximately 59,000
acres. ExxonMobil owns and operates the largest carbon dioxide
(CO2) pipeline network in the United States, enabling a
cost-efficient transportation system that accelerates carbon
capture and storage (CCS) deployment for both ExxonMobil and
third-party customers.
“We view this as an important milestone as we continue to
advance initiatives that accelerate the world’s path to net zero,”
said David Nunes, CEO of Rayonier. “We are pleased to have this
relationship with ExxonMobil, the leader in carbon capture and
storage in the US. We believe our timberland portfolio is
well-positioned to benefit from the transition to a low-carbon
economy, and we are pursuing various opportunities to realize value
from the land-based solutions offered by our forests.”
About Rayonier
Rayonier is a leading timberland real estate investment trust
with assets located in some of the most productive softwood timber
growing regions in the United States and New Zealand. As of
December 31, 2023, Rayonier owned or leased under long-term
agreements approximately 2.7 million acres of timberlands located
in the U.S. South (1.85 million acres), U.S. Pacific Northwest
(418,000 acres) and New Zealand (421,000 acres). More information
is available at www.rayonier.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240221479498/en/
Investors: Collin Mings, investorrelations@rayonier.com,
904-357-9100 Media: Alejandro Barbero,
alejandro.barbero@rayonier.com
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