Texas Energy Report NewsClips
Wednesday May 27, 2026
Asterisk (*) denotes news stories that may be inaccessible because portions are behind a paywall
Good morning! Here are today’s Texas Energy Report NewsClips
Oil prices eased from recent highs on Wednesday, erasing some of the previous day’s 4% gain as traders sought clarity on negotiations between Iran and the U.S. after renewed hostilities set back efforts to reopen the Strait of Hormuz.
West Texas Intermediate (WTI) crude lost $1.90, or 2.02%, to $91.99 a barrel.
Brent crude futures fell $1.52, or 1.53%, to $98.06 a barrel as of 0633 GMT.
Oil surged on Tuesday after the U.S. military carried out new strikes in Iran, hurting hopes over the weekend that the United States and Iran would reach an agreement to end the war.
Iran said on Tuesday the United States had violated a ceasefire by striking targets near the contested Strait of Hormuz, while the U.S. said its strikes were defensive in nature.
Israel ramped up bombing in Lebanon on Tuesday, further straining peace efforts.
Top Stories
The Texan – May 26, 2026
Bo French Projected to Narrowly Win Republican Nomination for Railroad Commissioner
Former Tarrant County Republican Party Chairman Bo French is projected to win the Republican nomination for Texas Railroad Commission, defeating incumbent Railroad Commissioner Jim Wright in Tuesday night’s primary runoff. French won 50.71 percent of the vote compared to Wright’s 49.29 percent, as of unofficial vote totals from the Texas Secretary of State at 12 a.m.
Early voting had French at 53.43 percent and Wright with 46.57 percent. French’s lead steadily shrank throughout the night, stopping just above 50 percent. In the March 3 primary, Wright won 32.1 percent of the vote, while French took 31.75 percent.
“I am deeply grateful for the support of TX Republicans across our state,” French said in a statement after his runoff victory. “Our campaign focused on defending oil and gas, and putting America First—and that’s exactly what I will continue fighting for as we turn our attention to radical Democrat Jon Rosenthal.
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Global oil markets were volatile on Tuesday, reflecting investor jitters over possible Iranian plans to impose a permanent fee on ships crossing the Strait of Hormuz as part of any peace agreement with the U.S. International Brent crude oil prices ticked higher, while WTI fell, as traders attempted to reconcile fresh U.S. attacks on Iran Tuesday — dubbed “defensive strikes” by Central Command — with President Donald Trump’s hints this past weekend that a peace agreement could now be in sight.
The mixed backdrop unfolded amid speculation that Tehran may look to extract fees for vessels passing through the critical shipping lane as part of any lasting resolution to the three-month conflict with the U.S. “People are afraid to take a position with so much mixed messaging going on about the status of negotiations,” said Dave Ernsberger, president, S&P Global Energy.
Grist – May 26, 2026
‘I need Chevron’: The oil company at the center of the California governor’s race
When it comes to California’s climate future, the most important figure in the state’s chaotic governor’s race may not be any of the candidates on the debate stage. It may not even be outgoing governor Gavin Newsom or President Donald Trump.
Instead, it might just be Chevron, the multinational oil company that was founded in the Golden State more than 100 years ago. It is among the largest producers, refiners, and sellers of petroleum products in a state rapidly shifting toward electric vehicles. Depending on which candidate is talking, the company is an example of how Big Oil is strangling consumers or an example of how climate regulations are strangling the state economy.
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Houston Chronicle – May 26, 2026
Experts warn Houston could see localized power strain during World Cup*
Powering Houston during the FIFA World Cup won’t be as simple as flipping a switch. Unlike events such as the Houston Livestock Show and Rodeo, energy experts say the international tournament will require years of planning, localized grid preparation and contingency plans for everything from triple-digit heat to tropical weather. “The rodeo is kind of like plug-and-play,” Sam Luna of BKV Energy told Chron. “But this is a much larger-scale event.”
Luna said the biggest concern isn’t necessarily whether ERCOT can handle the World Cup overall, but whether localized infrastructure around hotels, event zones and entertainment hubs can keep pace during peak summer demand. “We’re not talking about six million Houstonians,” he said. “We’re now talking about billions of people across the world looking at Houston.” According to Luna, NRG Park alone could use between 12 and 15 megawatt hours during peak demand periods during the tournament—roughly equivalent to powering between 3,000 and 5,000 Houston homes.
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Tuesday Runoff Election Results (Unofficial)
Railroad Commissioner – Bo French 50.6% Jim Wright 49.4%
Republican Senate – Ken Paxton 64% John Cornyn 39%
Republican Texas Attorney General – Mayes Middleton 55% Chip Roy 45%
Democrat Texas Attorney General – Nathan Johnson 60% Joe Jaworski 39%
Democrat Lieutenant Governor – Vicki Goodwin 68% Marcos Velez 32%
Rep. Menefee wins Democratic primary for 18th House District in Texas, beats Rep. Green, AP projects
Letitia Plummer 51% leads Annise Parker 49% for Democrats in Harris County Judge race
Orlando Sanchez leads Warren A. Howell for Republicans in Harris County Judge race
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The Latest TERse Tips
US military says it carried out ‘self-defense’ strikes in Iran, including on missile launch sites — despite the strikes President Donald Trump said on social media that negotiations were “proceeding nicely.” — WFAA
Southwestern Electric Power Co. (SWEPCO), is seeking submissions for its three Request for Proposals (RFPs) for additional generation and capacity resources to supply the needs of its customers and comply with Southwest Power Pool’s planning reserve margin requirement — Gilmer Mirror
On May 19th Soluna acquired the remaining 49% equity interest in Project Dorothy 1B from Navitas Global for approximately \(\$8.8\) million, giving Soluna 100% complete equity control of the entire Dorothy 1 campus
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Oil & Gas Texas
Midland Reporter-Telegram – May 26, 2026
Texas oil and gas production, exports keep climbing in new report*
Texas oil and gas production continues to power ahead, according to new data from the Texas Oil and Gas Association. The association issued its May 2026 monthly energy economics review, which found:
- In April, Texas produced an estimated 5.8 million barrels of crude oil per day and 35.5 billion cubic feet of marketed natural gas per day. Texas accounts for 42.2% of U.S. crude oil production and 29.6% of marketed natural gas production.
- Texas energy exports reached $22.1 billion in March, a 14.9% increase from a year earlier, led by $10 billion in crude oil and $6.8 billion in refined products.
- New production per rig has risen 53% in the Eagle Ford and 55% in the Permian since January 2023 because of technological advances and drilling efficiency.
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Rigzone – May 26, 2026
TIPRO Says Texas Upstream Employment Rose in April
Texas upstream employment increased in April, the Texas Independent Producers and Royalty Owners Association (TIPRO) said in a statement sent to Rigzone on Friday, which cited the latest Current Employment Statistics (CES) report from the U.S. Bureau of Labor Statistics (BLS).
According to TIPRO, employment in the Texas upstream sector increased by 400 jobs between March and April 2026. This reflected a decline of 1,300 jobs in oil and natural gas extraction and increase of 1,700 jobs in support activities, subject to revisions, TIPRO noted. The industry body outlined in the statement that Texas oil and natural gas extraction jobs stood at 63,000 and that Texas jobs in support activities stood at 130,200. TIPRO went on to state that its workforce analysis “continues to indicate strong job postings for the Texas oil and natural gas industry”.
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E&E News By Politico – May 26, 2026
Supreme Court settles Texas-New Mexico Rio Grande water battle*
The Supreme Court approved a settlement Tuesday in the legal battle over the Rio Grande, ending a long-running dispute between Texas and New Mexico over groundwater use. In a brief order, the court announced it would enter a final decree in Texas v. New Mexico and Colorado, which Judge D. Brooks Smith of the 3rd U.S. Circuit Court of Appeals, the case’s special master, recommended earlier this year. Smith was also discharged from the case, with “the thanks of the Court.”
Under the settlement, New Mexico will forfeit 5.9 billion gallons of groundwater annually to ensure Texas receives its full share of Rio Grande water. The agreement also includes the creation of a new water management plan for the region. The states, along with Colorado, share the Rio Grande under a 1938 compact. The river emerges from the southern Colorado Rockies and runs into New Mexico and then to Texas, where it forms the border with Mexico.
Discovery / Alert – May 14, 2026
Monetary systems rarely collapse overnight. They erode gradually, through the accumulation of fiscal imbalances, shifting trade patterns, and the slow migration of global trust from one institutional anchor to another. The U.S. dollar’s position as the world’s dominant reserve currency has survived multiple stress tests since the collapse of Bretton Woods in 1971. Texas energy security and dollar stability are, in important ways, the same concern expressed through different lenses, and understanding why requires looking beyond central bank policy and into the physical commodity flows that underpin dollar demand at a global scale.
The connection runs through the architecture of global oil and gas trade, the mechanics of petrodollar recycling, and the geopolitical leverage that energy export capacity confers on producing nations. Furthermore, the structural forces bearing down on the dollar today are arguably more complex than at any previous point in modern economic history.
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Midland Reporter-Telegram – March 23, 2026
EagleRock sees Permian as full-scale energy ecosystem*
Newly public EagleRock Land sees the Permian Basin as moving beyond oil and natural gas into a broader energy ecosystem. A number of investors apparently agreed, and the company received approximately $333.1 million in net proceeds when it completed its initial public offering. “Our story was well received across the board,” said EagleRock Chief Executive Officer Greg Pipkin Jr. during one of his weekly visits to Midland.
“We got interest above and beyond energy specialists. That’s a testament to our business model,” he continued. EagleRock controls about 236,000 net surface and water rights acres, including 70,000 gross acres with Double Eagle IV. It handles about 400,000 barrels a day of produced water. Revenue comes from water sales, caliche, surface easements and royalties from water disposal and recycling. Revenue is “100% fees from royalties from surface use. Historically, that’s meant development, completions, or for midstream, pipelines, plants or easements,” Pipkin said.
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Midland Reporter-Telegram – May 23, 2026
Howard Energy CEO sees need for more infrastructure*
Energy infrastructure has been the focus of Howard Energy Partners since Mike Howard founded the company 15 years ago. Howard, chairman and CEO, has been watching events unfold in global oil markets over the last several months and said one answer is more infrastructure. “More infrastructure must be built,” he told the Reporter-Telegram during a recent visit to address the Natural Gas Society of the Permian Basin.
That includes pipelines, processing plants, power generation plants and export terminals to send U.S. energy to allies overseas, he said. Howard has built the company into one with operations in four states and Mexico. In West Texas, the company partnered with Devon Energy to own and operate large-scale natural gas gathering and processing infrastructure in the Stateline region of the Delaware Basin. Howard also provides crude oil gathering services in the region.
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World Oil – May 14, 2026
Texas regulator links energy security to dollar stability amid global tensions
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Former Tarrant County GOP Chairman Bo French is running what can fairly be called a fossil fascist campaign in his bid to unseat incumbent Railroad Commissioner Jim Wright in the May 26 runoffs. A victory for French would secure him the GOP nomination for a six-year term atop the agency that oversees, and is generally captured by, the state’s all-too-precious oil and gas industry. Wright and French essentially tied at 32 percent in a five-way March primary, with French running strongest in the Houston and Dallas-Fort Worth areas. In Texas, incumbents forced into runoffs rarely survive.
The 56-year-old French spends much of his time commenting on things that seem far afield from oil and gas regulation. A silver-spoon scion of a Texas oil family, the well-coiffed French has called on X for the deportation of a Chinese-American state representative and a Muslim state representative—and indeed the denaturalization and deportation of all Muslims in America based on religious faith. French has also repeatedly affirmed his belief in the far-right “Great Replacement” conspiracy theory, which holds that there’s a concerted effort by Democrats, Jews, or some other secretive “cabal” of evildoers to crowd out white people through mass immigration. “The Great Replacement is real,” he posted in November.
Oil & Gas National & International
The Wall Street Journal – May 26, 2026
Iran Pursues Deal That Brings Economic Relief Without Handing Trump Victory*
Iran is pursuing two intertwining goals in its negotiating strategy with the U.S., say Iranian officials and Arab mediators: securing financial relief for an economy that is under severe strain without giving enough ground on its nuclear program to allow President Trump to claim victory. Iran mostly shook off an overnight skirmish with U.S. forces in which it lost several Islamic Revolutionary Guard Corps fighters, staying at the negotiating table on Tuesday. Tehran has been seeking economic relief by regaining control of some of the $100 billion in assets frozen by the West and regaining access to world oil markets, these officials say.
Late Monday, U.S. Central Command struck Iranian speedboats it said were laying mines in the Strait of Hormuz. Iran retaliated by firing on U.S. planes, and the U.S. hit back at missile-launch sites in Iran. The exchange of fire followed mixed signals from Trump over the weekend. After saying on Saturday that a deal with Tehran was largely negotiated, the president appeared to change course amid criticism of the outline of the deal from some Senate Republicans.
Iran signaled that strikes wouldn’t derail negotiations. Tehran’s top negotiator, Mohammad-Bagher Ghalibaf, remained in Qatar on Tuesday for talks after arriving a day earlier. The officials said Iran delayed announcing that several members of the Islamic Revolutionary Guard Corps had been killed in the strike to keep the talks on track. Ghalibaf had arrived in the Gulf country a day earlier to address sticking points, including the frozen Iranian funds and details about reopening the strait, the officials said. Ghalibaf returned to Tehran later Tuesday after consultations with Qatari officials, Iranian state broadcaster IRIB reported.
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Reuters – May 27, 2026
China says Panama ties should not be subject to third-party interference, Xinhua reports*
China’s Foreign Minister Wang Yi said Beijing was ready to deepen practical cooperation with Panama and urged the Central American country to safeguard Chinese firms’ rights during a meeting with Panamanian Foreign Minister Javier Martínez-Acha, China’s official news agency Xinhua reported. Wang, who met Acha on the sidelines of a United Nations Security Council meeting in New York, said China-Panama ties should not be subject to third-party interference, Xinhua reported, a reference to U.S. pressure over Chinese-linked infrastructure near the Panama Canal, which handles 5% of global maritime trade.
The meeting comes after months of tension over the future of two key container terminals at Balboa and Cristobal, located near the Pacific and Atlantic entrances to the canal but operated separately from the waterway itself. In late January, Panama’s Supreme Court declared unconstitutional the legal framework underpinning a 1997 concession — and a 2021 extension — that allowed Panama Ports Company, a subsidiary of Hong Kong-listed CK Hutchison (0001.HK), opens new tab, to operate the terminals.
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Reuters – May 26, 2026
Oil cargo from US emergency reserve heads to Asia, first in over 3 years
A cargo of crude oil from the U.S. Strategic Petroleum Reserve is heading to the Philippines, the first shipment of U.S. emergency reserve oil to Asia since November 2022, ship tracking data showed. Asia receives about 80% of its oil through the Strait of Hormuz, a critical chokepoint that has remained largely closed during the three-month-old Iran war. The closure has upended global oil supplies and sent physical crude prices to record highs, forcing some importers to seek new suppliers.
The Greek-flagged Very Large Crude Carrier Arosa loaded 616,000 barrels of sour crude from the Bryan Mound Strategic Petroleum Reserve in Texas in early May and is set to arrive in Bataan, Philippines, in early July, Kpler data showed, citing a bill of lading. The vessel, chartered by Shell, is co-loaded with around 700,000 barrels of U.S. sour grade Thunder Horse. The Philippines has been diversifying its energy sources amid a shortage of Middle Eastern barrels, with the government eyeing producers in the U.S., Canada, Colombia and Argentina, the Philippines’ Energy Secretary Sharon Garin said last month, as well as U.S. waivers on Russian seaborne oil.
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S&P Global Platts – May 26, 2026
Mexico likely to resist major energy policy changes during USMCA talks: panelists
Mexico is unlikely to make sweeping concessions on the hydrocarbons sector during the upcoming USMCA review process, panelists said May 26, arguing that the current framework already gives the government enough flexibility to attract targeted private participation without reopening politically sensitive constitutional debates. Although the US is likely to pressure Mexico, Mexico will try to maintain the status quo as much as possible, experts said during a Brookings Institution webinar on the future of US-Mexico relations.
“Mexico’s current situation is exactly where it wants it to end up,” Christopher Sands said, referring to the country’s energy model. Sands, who heads the center for Canadian studies at the John Hopkins University School of Advanced International Studies, said Mexico has been able to expand its crude production even after the sweeping constitutional reform in the sector.
Utilities, Electricity & Renewables
KLBK – May 26, 2026
West Texas Farmers Squeezed by Data Centers and Renewable Energy
Where is your food grown? It is a question many consumers may not think about often, but for farmers and ranchers across Texas, finding enough land to produce that food is becoming increasingly difficult. While urban growth has long been blamed for shrinking agricultural space, West Texas producers say they are now competing with another rapidly growing industry: renewable energy projects and data centers.
Cayson George, owner and broker of Western Heritage Realty and Investments, says younger farmers are struggling to enter agriculture because land prices continue rising beyond what farming operations can realistically support. “So the data centers that are moving in and solar companies that are moving in and purchasing all the land, that’s making it really tough for a young farmer to come in and buy land and make it cash flow through agriculture purposes,” George said. “It’s nearly impossible.”
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The Hill – May 26, 2026
The Energy Department may allow up to five companies to use its surplus plutonium — which it has historically been used in nuclear warheads — as fuel. The department has selected the firms for “advanced negotiations regarding the potential allocation of surplus plutonium materials,” a spokesperson for its nuclear energy office said Tuesday.
In October, the Energy Department said that the available surplus for the program includes weapons-grade, fuel-grade, reactor-grade or mixed plutonium. According to the department, the plan to give plutonium to energy companies “is anticipated to help companies unlock the next level of private funding to broaden domestic nuclear fuel supplies, spur innovation on American recycling technologies, and unlock private sector funding to fuel the nation’s nuclear renaissance.”
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CNBC – May 26, 2026
SpaceX-Tesla merger chatter reignites as Musk pushes rocket company towards Nasdaq
As Elon Musk prepares to lead a second trillion-dollar company into the public market, a move that will likely put him in charge of two of the 10 most valuable U.S. enterprises, chatter is building that Musk’s ultimate goal is to combine the entities into one. SpaceX is expected to start trading on the Nasdaq in just over two weeks after obtaining a private market valuation of $1.25 trillion earlier this year, when it merged with xAI, Musk’s artificial intelligence company, Tesla’s market cap currently sits at around $1.6 trillion.
The two companies already have a laundry list of shared resources, and Musk has discussed with colleagues the possibility of folding the companies together, according to people familiar with the talks who asked not to be named due to the sensitivity of the topic.
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Utility Dive – May 22, 2026
US summer generating capacity increases by 75 GW since 2025: FERC
U.S. generating capacity will increase by about 75 GW this summer compared to a year ago — mainly solar, wind and batteries — while power plant retirements will slow to about 8 GW, helping to improve the outlook for grid reliability for this summer, according to Federal Energy Regulatory Commission staff.
“The pace of these changes is notable,” Alec Stirling, a FERC economist, said during the agency’s monthly open meeting on Thursday. “New capacity additions are accelerating to the largest year-over-year increase in gigawatts in over a decade, while the rate of plant retirements has slowed by more than 50% since last summer.”
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Canary Media – May 26, 2026
The grid is in better shape this summer. Thank solar and batteries.
It’s set to be an abnormally hot summer this year — but the U.S. grid appears to be in decent shape to handle the heat. The credit goes to a boatload of new solar and storage and a handful of new gas plants. That’s the upshot of the new summer reliability assessment from the North American Electric Reliability Corp., which oversees the U.S. and Canadian electric systems.
“Record resource additions have strengthened readiness for the summer season,” NERC highlighted, including “a substantial influx of solar and battery” resources — the most prevalent and lowest-cost new sources of grid power — as well as “some new natural gas-fired generators.”
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Renewable Energy World – May 19, 2026
Utilities at a crossroads: Adopt distributed solar or risk becoming a backup plan
U.S. utilities are approaching an inflection point that has been years in the making. For much of the past decade, distributed solar was treated as a sideshow, dismissed as too small, intermittent, or dependent on incentives to matter. Today, that posture has shifted. In many markets, utilities are no longer overlooking distributed generation; they are now actively pushing back against it with anti-solar lobbying. For instance, as we saw in California, NEM 3.0 was passed to disincentivize feeding solar into the grid. Meanwhile, in Arizona, the state moved away from NEM to NEB. And in the first half of 2025, 148 state bills were introduced that were either very or somewhat restrictive of solar siting.
But the underlying trend is clear. Distributed solar and storage are not going away. In California, solar already produces 36.7% of the state’s electricity, while Texas, the fastest-growing state for solar, currently gets 10.75% and is expected to grow to 62% by 2030. Arizona is already at 16.76%, Florida is at 11%, and Nevada generates nearly one-third of its electricity from solar. As electricity demand rises, grid constraints intensify, and homeowners seek more control over their energy usage, solar and storage are becoming a structural part of the energy landscape. Utilities now face a choice: adapt to that reality, or risk being sidelined.
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E&E News By Politico – May 21, 2026
Grid batteries get record boost from data centers
The U.S. market for grid-scale battery storage surged to its best first quarter in history this year, highlighting how data centers and surging power demand are bolstering the industry despite federal policy headwinds. The Solar Energy Industries Association and the research firm Benchmark Mineral Intelligence said Thursday the industry installed 9.7 gigawatt-hours of new capacity in the first three months of the year, a year-over-year spike of 32 percent. The increase occurred despite permitting issues and trade uncertainty under the Trump administration.
“Energy storage is no longer just for backup, it’s critical energy security infrastructure,” Shan Tomouk, lead battery storage analyst at Benchmark, said in a statement. Electricity demand is shaping the broader energy sector. Among other things, battery installations are helping ease the risks of power outages this summer despite the growth of artificial intelligence,
Regulatory
Utility Dive – May 26, 2026
New Mexico regulators approve SPS’ $9B, gas-heavy resource plan
New Mexico regulators on May 7 approved Southwestern Public Service Co.’s plan to add roughly 3.8 GW of new, utility-owned generation, along with associated transmission and storage resources, expanding the Xcel Energy utility’s system in eastern New Mexico. On a 2-1 vote, the New Mexico Public Regulation Commission approved SPS’ plan to add 2,088 MW of gas-fired generation, 1,100 MW of wind, 472 MW/1.9 GWh of storage and 189 MW of solar.
PRC Commissioner Patrick O’Connell dissented, saying SPS’ project portfolio was based on an uncompetitive request for proposals. O’Connell also said the commission should have rejected SPS’ plan to ratebase gas-fired generation, arguing that power purchase agreements would have been more affordable for ratepayers.