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Commitments and Contingencies
9 Months Ended
Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

Note 17—Commitments and Contingencies

Environmental Matters

The Company is subject to federal, state, local and foreign environmental laws and regulations. The Company does not anticipate any expenditures to comply with such laws and regulations that would have a material effect on the Company’s consolidated financial position, results of operations or liquidity. The Company believes that its operations comply, in all material respects, with applicable federal, state, local and foreign environmental laws and regulations.

Litigation, Claims and Contingencies

The Company may become party to various legal actions that arise in the ordinary course of its business. The Company is also subject to audit by tax and other authorities for varying periods in various federal, state, local and foreign jurisdictions, and disputes may arise during the course of these audits. It is impossible to determine the ultimate liabilities that the Company may incur resulting from any of these lawsuits, claims, proceedings, audits, commitments, contingencies and related matters or the timing of these liabilities, if any. If these matters were to ultimately be resolved unfavorably, it is possible that such an outcome could have a material adverse effect upon the Company’s consolidated financial position,

results of operations, or liquidity. The Company does not, however, anticipate such an outcome and believes the ultimate resolution of these matters will not have a material adverse effect on the Company’s consolidated financial position, results of operations, or liquidity.

bpJV Capital Call Contribution

In December 2021, the bpJV issued the bpJV Capital Call in the amount of $143.2 million, which required bp and the Company each to contribute $71.6 million. Proceeds from the bpJV Capital Call will be used to fund working capital needs and to fund RNG production facility projects undertaken by the bpJV. On June 30, 2022, the Company paid its remaining, outstanding contribution balance of $51.6 million to the bpJV in connection with the bpJV Capital Call. On March 30, 2022, the bpJV issued the bpJV Capital Call 2 for $76.2 million to support bpJV’s RNG project development and working capital needs. The bpJV Capital Call 2 required that bp and the Company each contribute $38.1 million on or prior to September 30, 2022. On September 30, 2022, bp and the Company each contributed $38.1 million to the bpJV, satisfying in full their respective required contribution commitment under the bpJV Capital Call 2.