{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"From Oil Wells to Oak Trees: Ben Dell\u2019s Half-Billion-Dollar Pivot to Carbon Offsetting","description":"What if planting trees could be not just good for the planet, but also a profitable business? In this episode, I\u2019m talking with Ben Dell, the founder and CEO of Chestnut Carbon \u2014 a company that\u2019s raised nearly $400 million, including $250 million of that in 2025, to turn farmland back into thriving native forests across the United States. And he\u2019s already forging major carbon removal deals with the likes of Microsoft and Mercedes F1. Ben\u2019s journey is a fascinating one: he began his career in oil and gas private equity, helping fossil-fuel companies optimize their operations. But during the pandemic, he had what you might call a carbon epiphany. Seeing how few trustworthy carbon-removal projects existed, he decided to create his own \u2014 one that would make measurable, verifiable, and permanent carbon storage not just possible, but investable. In our conversation, Ben explains why carbon is a commodity, and how to prove you\u2019ve really stored it. He talks about how Chestnut buys up marginal cattle-grazed land and restores it into biodiverse forests \u2014 with already more than 17 million trees planted. And he goes over why he proudly calls Chestnut \u201cconservation for profit\u201d \u2014 a business model that needs no subsidies, just land, good science, and a lot of patience. Ben also talks about the challenges of scaling a nature-based startup, the importance of grit over glamour, and why he believes restoring forests can be one of America\u2019s most investable climate solutions. So if you\u2019ve ever wondered how capitalism might actually reverse deforestation \u2014 not cause it \u2014 this episode will give you a hopeful, grounded look at what that future could look like. Discussed in this episode Ben is a managing partner at Kimmeridge. Business Insider profile and a Wall Street Journal profile on Ben\u2019s work. Our past episode with author Mike Grunwald. You can see Chestnut\u2019s patent, \u201cSystems and methods for forest surveying,\u201d here. Chestnut\u2019s offtake partnership with Microsoft and a similar agreement with Mercedes F1. Ben recommends podcasts such as Lex Fridman\u2019s and Invest Like the Best. Get to Know Ben Dell Ben Dell is a Managing Partner of Kimmeridge and oversees investment activity across the firm. He is closely involved in the screening of new geological opportunities and in the negotiation and execution of investment strategies.  Prior to founding Kimmeridge, Mr. Dell was a Senior Equity Research Analyst for Oil and Gas Exploration and Production (E&P) at Sanford C. Bernstein, where he was ranked first three times in the Institutional Investor Research Survey for coverage of E&Ps. Mr. Dell was also ranked for Natural Gas and for Oil Services and Equipment coverage. Mr. Dell joined Sanford C. Bernstein in 2003. Prior to joining Bernstein, Mr. Dell was employed at British Petroleum (BP) in its M&A and finance group. Before moving into the finance field, Mr. Dell also held positions as an exploration geologist and geophysicist across several of BP\u2019s regional business units.  Mr. Dell is currently CEO of Chestnut Carbon, a nature-based carbon removal developer and is on the Board of Caturus HoldCo, LLC., a large private natural gas producer in South Texas. He previously held positions as Chairman of the Board and interim CEO of Civitas Resources, Inc. (\u201cCivitas\u201d), a company that formed from the merger of Extraction Oil & Gas, Inc. and Bonanza Creek Energy, Inc.  Mr. Dell earned an undergraduate degree and a master\u2019s degree in Earth Sciences from St. Peter\u2019s College, Oxford. ","author_name":"Business for Good Podcast","author_url":"http:\/\/www.businessforgoodpodcast.com\/","html":"