Texas Energy Report NewsClips
Monday February 16, 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
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Top Stories
Morningstar – February 13, 2026
The energy sector has outperformed the broader market as U.S. oil prices have climbed over 9% year to date The energy sector has outpaced all other sectors of the S&P 500 so far in 2026. The energy sector has been the best-performing sector in the S&P 500 this year – and it’s not just because risks to global oil flows, tied to Venezuela and Iran, have boosted crude prices by more than 9%. Higher oil prices have been a major tailwind for the energy sector, said Rob Thummel, senior portfolio manager at Tortoise Capital. But more significantly, “investors are rotating toward sectors with hard-to-replace essential assets.”
That’s “reinforcing the strategic value of energy infrastructure and domestic resource security,” Thummel said. ‘Investors are rotating toward sectors with hard-to-replace essential assets.’Rob Thummel, Tortoise Capital So far this year, the S&P 500’s energy sector XX:SP500.10 has climbed by nearly 21% as of Thursday – outperforming other sectors in the S&P 500 SPX, including materials XX:SP500.15 and consumer staples XX:SP500.30. It has marked its second-best start to a year at this point since 2022, based on data going back to 1989, according to FactSet data.
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The Dispatch – February 12, 2026
Perspectives on ‘Peak Population’
Some economists have suggested that the 21st century might see slower economic growth than previously anticipated. For instance, Charles I. Jones of Stanford University argues that a world with fewer people would have fewer innovative ideas and fewer opportunities to invest in growth, contributing to a “long list of headwinds [that] confront future economic growth, suggesting that growth in the next several decades could be slower than in the past half century.”
Similarly, Matthew G. Burgess and his colleagues foresee challenges facing future global economic growth, but even so, predict increasing overall global wealth. “Despite these potential challenges, we note that the world envisioned … is nonetheless substantially richer than the world today—with many regions reaching affluence greater than today’s affluence in high-income regions, and with lower-income regions having the most rapid increases in affluence,” they wrote in a 2023 article for Nature Communications Earth & Environment. While there has been much discussion of the implications of artificial intelligence and computing demands for future energy demand, several more prosaic technologies are all but certain to drive increasing future energy demand.
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Politico – February 13, 2026
Trump’s ‘energy dominance’ council in search of projects to champion*
The National Energy Dominance Council is helping individual projects get built — but wind and solar energy need not apply. Interior Secretary Doug Burgum said Thursday that the council is prioritizing helping projects related to critical minerals, power supply, oil and gas development, and power and gas lines. That portfolio does not include renewable energy, which the Trump administration has targeted for funding cuts and permit repeals. “If you have not talked to [the dominance council], you need to,” Burgum, the council chair, told potential developers during a speech Thursday at the Foundation for Defense of Democracies.
Burgum and six staffers on the council spoke at the think tank’s event to mark the one-year anniversary of President Donald Trump creating the council, an advisory body within the White House that aims to increase energy production and speed up permitting. The event came as the Trump administration champions a liquefied natural gas project in Alaska — including an 800-mile pipeline — and tries to destroy the offshore wind industry.
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CNBC – February 15, 2026
President Donald Trump’s trade and manufacturing adviser, Peter Navarro, said on Sunday that the White House may force data center builders to absorb their costs as voters continue to sour on the economy and utility prices soar. “All of these data center builders, Meta on down, need to pay for all, all of the costs,” Navarro said on Fox News’ “Sunday Morning Futures.” “They need to pay, not only pay for the electricity that they’re using on the grid, but they have to pay for the resiliency that they’re affecting as well. They need to pay for the water. So there’s activity, action here going forward, where we force them to internalize the cost.”
The Latest TERse Tips
Expand Energy’s ouster of CEO Nick Dell’Osso set off alarm bells in the gas market earlier this week, but analysts said the move was likely tied to the company’s plans to relocate its headquarters from Oklahoma City to the Houston area rather than professional performance or strategic differences — Energy Intelligence*
Video: Chevron exec reveals concerns over California’s energy polices: ‘I’m quite worried’ — Fox News
One of the five people who were hospitalized following a fire at an Ardmore oil refinery has died — Jesse Biscamp was airlifted to a hospital in Plano, Texas, after a fire at the Valero Ardmore Refinery that also injured four others — KWES
The new novel, “Dark Texas,” envisions what would have happened if the grid failed in the 2021 winter storm — Texas Standard
Paul, Weiss, Rifkind, Wharton & Garrison is opening an office in Houston as it pushes deeper into energy M&A and infrastructure work — Pulse 2.0
The Center for American Progress assets that Declining Global Demand for Oil and Gas Benefits Americans, and U.S. Policy Can Accelerate It
Oil & Gas Texas
Oil Price – February 13, 2026
U.S. Rig Count Holds Steady as Oil Drilling Slips and Gas Activity Climbs
The total number of active drilling rigs for oil and gas in the United States stayed the same this week, according to new data that Baker Hughes published on Friday, keeping the total rig count in the US at 551 this week, down 37 from this same time last year. The number of active oil rigs fell by 3 5o 409 during the latest reporting period, according to the data. This is 72 below this same time last year.
The number of gas rigs rose by 3, reaching 133, which is 32 more than this time last year. The miscellaneous rig count stayed the same at 9. The latest EIA data showed that weekly U.S. crude oil production rose this week, by 498,000 bpd in the week ending February 6, to 13.713 million bpd on average, 149,000 bpd under the all-time high.
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Reuters – February 13, 2026
US refiner Valero to import up to 6.5 million barrels of Venezuelan crude in March, sources say
Energy Now – February 14, 2026
Exxon Mobil Can Sue California Attorney General for Defamation Over Recycling, Judge Rules
A federal judge on Friday rejected California Attorney General Rob Bonta’s bid to dismiss Exxon Mobil’s lawsuit accusing him of defamation in criticizing the oil giant’s advanced plastics recycling initiatives. U.S. District Judge Michael Truncale rejected Bonta’s claim he was immune from being sued because he criticized Exxon in his official capacity as attorney general, and in the “heartland” of his employment duties.
The Beaumont, Texas-based judge also said whether Bonta criticized Exxon in good faith was a question of fact to be determined later. Truncale dismissed related claims against the environmental groups Sierra Club, Baykeeper, Heal the Bay and the Surfrider Foundation, saying he lacked jurisdiction. Bonta’s office did not immediately respond to requests for comment. Neither Exxon nor its lawyers immediately responded to similar requests.
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Houston Chronicle – February 15, 2026
The Permian Basin used to be enough for Texas oil companies. Now they’re looking elsewhere.*
When the shale revolution kicked off in 2009, beautiful black crude gushed in Texas, attracting the attention of wildcatters the world over. The drilling opportunities were so prolific that it sucked the air out of the room for most international shale plays at the time. But now, the relationship between U.S. crude producers and domestic oil fields may be coming to a crossroads. Companies that once exclusively operated in the U.S. are beginning to turn their heads abroad in favor of foreign oil plays in South America, Africa and the Middle East, as concerns deepen over the availability of resources in domestic oil fields such as the Permian Basin and Eagle Ford shale.
Harold Hamm, the billionaire wildcatter who helped usher in the shale revolution, announced last month that his company Continental Resources would stop drilling in the Bakken of North Dakota for the first time in decades. The announcement came less than two weeks after the company announced plans to double down in the Vaca Muerta shale play in Argentina. EOG Resources, another early champion of the shale revolution, has explored drilling opportunities in Trinidad and Tobago, and more recently, the Middle East. It also has landed agreements in the United Arab Emirates and Bahrain, likely worth billions of dollars.
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Fort Worth Star Telegram – February 15, 2026
Star-Telegram endorsement: Real-world experience for Texas’ oil regulating agency*
Republican voters have a wealth of choices in their primary for railroad commissioner. It’s a perfect time for a dose of recent real-world experience in the oil and gas industry, which the misnamed agency regulates, and for someone with an eye on reform. Several candidates qualify, but we think Hawk Dunlap would make the best commissioner. Dunlap, 55, is a well-control specialist with three decades of domestic and international experience. In name and mien, Dunlap, who lives in Monahans, could be straight from a casting call for a roughneck part in a movie. But he’s sounding the alarm about a threat not getting enough attention: the huge increase in fracking wastewater returned to the ground. …
Another candidate who clearly has knowledge to improve the commission is Katherine Culbert. The 51-year-old process safety engineer shares concerns about abandoned wells and water injection. And she has seen enough of the commission’s work to know it needs an infusion of transparency and willingness to stand up to the industry.
Oil & Gas National & International
S&P Global Platts – February 13, 2026
US eases sanctions, allows oil firms to negotiate Venezuela contracts
The Trump administration conditionally removed longstanding prohibitions on oil and gas contract negotiations and operations in Venezuela, the latest steps in the US push to incentivize a revival of foreign investment in the South American country’s struggling fossil fuel sector.
On Feb. 13, the US Treasury’s Office of Foreign Assets Control simultaneously published General License 49 and General License 50. General License 49, “Authorizing Negotiations of and Entry Into Contingent Contracts for Certain Investment in Venezuela,” allows companies to enter into negotiations and contingent contracts for new investment in Venezuela’s oil sector — including in early exploratory deals and potential joint ventures with state-owned oil company PDVSA — provided the contracts are separately approved through OFAC before being signed, do not involve sanctioned vessels or persons, and do not include “a person located” in Russia, Iran, China, North Korea or Cuba.
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CNBC – February 13, 2026
Venezuela oil revenue will no longer be deposited in an account in Qatar, Energy Secretary Chris Wright told NBC News in an interview this week. “An account was set up in Qatar, controlled by the U.S. government the whole time, to land that money in and then send the money from there down to Venezuela,” Wright told NBC News on Thursday.
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Reuters – February 14, 2026
Enbridge beats profit estimates, sanctions new projects to meet power demand*
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Bloomberg – February 13, 2026
Enbridge unfazed by prospect of more Venezuelan oil headed to Gulf Coast
Executives with crude shipper Enbridge Inc. say increased Venezuelan crude exports would not undermine its plans to send more Alberta oilsands barrels to Texas refineries. “The U.S. Gulf Coast is the world’s best heavy refining market and Canadian crude is a meat-and-potato part of the diet there,” Colin Gruending, president for liquids pipelines, told analysts on a conference call Friday.
Refineries along the Gulf of Mexico were initially built to handle the heavy crude produced in Venezuela. But as volumes from the South American country dropped amid economic and political strife and U.S. sanctions, barrels from Canada with a similar chemical makeup have been filling the gap. However, less than one tenth of Canadian exports to the U.S. are bound for the Gulf Coast, with the lion’s share headed to the Midwest.
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Inside Climate News – February 13, 2026
In the conflict-riven northern corner of Mozambique, a huge gas export terminal is moving ahead with the backing of the United States government. Mozambique LNG would be one of the largest fossil fuel projects in Africa, with the capacity to export up to 43 million metric tons of liquefied natural gas per year at full capacity. The U.S. Export-Import Bank initially approved a $4.7 billion loan for the project in 2019, during the first Trump administration, when the development was led by Texas-based Anadarko Petroleum.
Since then, however, Anadarko sold its stake to France-based TotalEnergies, an Islamist insurgency forced a four-year halt to construction and security forces were accused of committing war crimes against civilians. The United States also became the world’s leading LNG exporter, setting up Mozambique LNG as a potential competitor to American projects.
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Bloomberg – February15, 2026
The Oil Market Is Trading on Bearish Vibes — for Now: Javier Blas*
When the oil trading community descended on London for its annual International Energy Week jamboree last week, the bears outnumbered the bulls, probably by three-to-one. They fought about supply. They argued about demand. But, above all, they clashed to control the market’s narrative. Eventually, the bears prevailed — just. In commodity markets, vibe often matters more than spreadsheets. Ibrahim Al-Muhanna, who shaped Saudi-speak for decades as a senior aide to several of the kingdom’s oil ministers, wrote in his memoirs that at times of crisis or uncertainty, “sentiment overshadows fundamentals.” We’re in one of those unsettled periods, with few traders having a strong conviction about how many barrels of crude the world will produce by mid-year. Get a potential war or a peace negotiation wrong in the calculus, and wave goodbye to a year’s worth of P&L.
For two years, the bears have had the microphone, shouting the obvious: Oil supply is running well ahead of demand, and thus global inventories are increasing, albeit from a low level. Last year, global stocks increased by about 477 million barrels, equal to 1.3 million barrels a day, thanks to higher production from the likes of the US, Brazil and the OPEC+ cartel, according to the International Energy Agency. The problem isn’t annual demand growth, which remains healthy at close to 1 million barrels a day, but too much output.
Utilities, Electricity & Renewables
Inside Climate News – February 15, 2026
Texas to Study ‘Batch Zero’ of Data Centers by Late Summer
A month after the state’s grid operator said it would pull together data centers and other large load projects that have been waiting to connect to the grid into a group called “batch zero,” that process is still at least four months away. Electric Reliability Council of Texas (ERCOT) officials said this week that they plan to present the updated evaluation process to their board of directors in June that will outline which projects will move forward as a first group in the interconnection queue.
With project developers growing increasingly impatient and pushing for a timeline, Jeff Billo, ERCOT’s vice president of interconnection and grid analysis, said that if ERCOT can spell out new admission criteria for projects to be considered in batch zero by June, the agency could begin studying the interconnection needs of the group by late summer.
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San Antonio Express-News – February 15, 2026
CPS Energy is ramping up community solar, seeking proposals to spark struggling program
CPS Energy is looking to inject some energy in its struggling community solar program. The San Antonio utility has issued a request for proposals seeking up to 50 megawatts of solar energy for the program — nearly five times as much power what’s now available. “Community solar allows us to bring more renewable energy online while maintaining affordability and reliability for our customers,” said Jonathan Tijerina, CPS’ vice president of corporate development. But the community solar program, created to provide alternatives for investing in solar, has yet to gain traction.
The program offered two different initiatives. Those who weren’t able to put in their own solar systems — such as renters — instead could buy solar panels that would be installed either at a solar facility east of Adkins or on carport rooftops. Participating customers earn credits on their electric bills for the power generated by the panels. The other initiative, Solar Host SA, allowed homeowners and commercial property owners to rent out space on their rooftops in exchange for credits on their monthly electric bills. Both initiatives are closed to new participants.
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NPR – February 13, 2026
It’s been five years since catastrophic Texas blackouts. How much has changed?
Sade Hogue was five months pregnant with her second daughter when her home lost power during a deadly 2021 winter storm that left millions of Texans without power or heat for days. Hogue and her family went to stay with relatives who still had electricity. Then, a few days later, they also lost power.
“Not only are you worried about you, but you’re worried about the unborn child because you don’t know what the effects of this freeze is doing to the child as well,” Hogue said. Five years after that winter storm which led to at least 246 deaths statewide and hundreds of billions of dollars in damages, Texans such as Hogue still get worried and still scramble to prepare whenever frigid weather is approaching.
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Houston Chronicle – February 13, 2026
Could the Texas grid fail in another extreme freeze? Here’s what’s changed, five years later.*
Before a recent winter storm swept through Houston in January, Jesus Contreras made sure he and his wife were prepared for “the absolute worst.” They didn’t want to be caught off guard as the whole state was five years ago, when Texas’ power grid shockingly gave out for days amid freezing temperatures. Hundreds of people died, and Contreras, a Houston-area paramedic, witnessed the suffering firsthand. So when weather forecasters started talking about an impending freeze last month, Contreras stocked up on nearly a week’s worth of supplies. He filled up the bathtub in case the water stopped flowing again. “Every time we have even a whiff of a cold freeze coming, we over-prepare,” Contreras said.
Meanwhile, grid experts like Alison Silverstein, an independent consultant, get ready for their phones to ring off the hook. Every winter for the last few years, they’ve explained to the many reporters who call that weather conditions won’t be nearly as severe as Winter Storm Uri, the Weather Channel’s name for the 2021 freeze, so the power grid will be fine. Each year, those prognoses hold, and the power stays on. But even industry insiders acknowledge that this is partly due to luck. Texas hasn’t yet experienced the hardest test: If we saw another Winter Storm Uri, would the grid fail again? “Probably not,” Silverstein responded recently, pausing between her words.
“It wouldn’t crater as deep. It wouldn’t crater as long. And we have more tools to make it less likely that the grid would fall apart,” she said.
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The Wall Street Journal – February 15, 2026
U.S. Military Airlifts Mini Nuclear Reactor in First-Ever Flight*
HILL AIR FORCE BASE, Utah—The U.S. military airlifted a miniature nuclear reactor for the first time, part of President Trump’s push to deploy nuclear power across the United States. Three C-17 transport planes flew components of the Valar Atomics Ward 250 unfueled nuclear reactor from March Air Reserve Base, Calif., to Hill Air Force Base, Utah, on Sunday. Valar Atomics officials handed out black caps emblazoned with the words “Make Nuclear Great Again.” Pentagon and Energy Department officials, reporters and industry representatives sat alongside the reactor module, encased in plexiglass, during the hourlong flight.
Proponents of the technology say the new systems can deliver megawatts of power safely and cheaply, eliminating fuel supply vulnerabilities and providing reliable, scalable energy to remote locations. But some critics say the Trump administration’s fast tracking of the untested reactor designs, built by private companies, could pose safety issues. Trump has pledged to get at least three advanced nuclear reactors “critical”—running all of its nuclear systems—on U.S. soil by July 4. “Energy is not just an economic issue, although it is that, it is a national security issue as well,” said Utah Gov. Spencer Cox. “America cannot project freedom if we lack reliable deployable power at home and in the field.”
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Energy Storage – February 12, 2026
Tesla set to launch vehicle-to-grid program in the US*
Tesla is set to officially launch its first vehicle-to-grid (V2G) programme in the US soon. The Powershare Grid Support Program, announced by Tesla Energy, will enable Cybertruck owners in select Texas markets to earn money by sending power back to the electrical grid during high-demand events.
The programme represents Tesla’s first implementation of true V2G capability, transforming the Cybertruck from just a transportation vehicle into a distributed energy asset. Starting in areas served by CenterPoint Energy and Oncor, the initiative allows participating owners to support grid stability while receiving credits on their energy bills.
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New Mexico Political Report – February 13, 2026
Should New Mexico buy PNM? Lawmaker says yes
A state senator has a different idea for the future of New Mexico’s largest electric utility: Have the state buy it. Sen. Harold Pope introduced Senate Memorial 9 Friday asking the New Mexico Public Regulation Commission (PRC) to pause Blackstone Infrastructure’s proposed $11.5 billion purchase of TXNM Energy, the parent company of Public Service Company of New Mexico (PNM). Pope said the pause would give state leaders time to study buying a controlling stake instead of approving the private equity deal. …
According to PNM spokesperson Eric Chavez, the company quickly dismissed the idea of a state buyout. “We believe the proposed long-term financial investment by Blackstone Infrastructure is the most effective way to make the investments necessary to provide PNM’s customers with reliable, affordable, clean energy,” Chavez said.
Regulatory
Politico – February 13, 2026
Republicans revive quest to repeal Superfund oil tax*
Republicans in both chambers have reintroduced legislation to eliminate a key “polluter pays” industry tax used to fund EPA cleanups at the nation’s most contaminated sites. Wyoming Sen. John Barrasso and Ohio Rep. Mike Carey are sponsoring the “Pay Less at the Pump Act,” which would repeal the excise tax on crude oil and imported petroleum just three years after it was reinstated. “Cheaper energy translates into cheaper goods for Americans at every level of the supply chain, allowing families to keep more of their hard-earned cash,” Carey said in a news release.
For the first 15 years of the Superfund program’s existence, hazardous waste cleanups were funded in part by three industry taxes: petroleum, chemicals and large corporations. Former President Joe Biden’s landmark infrastructure and climate laws reinstated the chemical and oil taxes in 2021 and 2022, nearly three decades after the taxes expired in 1995. Texas Republicans Sen. Ted Cruz and Rep. Beth Van Duyne last year reintroduced legislation, S. 615 and H.R. 640, respectively, to repeal the chemical taxes. But even as Congress gutted Biden-era spending laws, the taxes survived.
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Texas Energy Report NewsClips
Friday February 13, 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 slipped on Friday and were on track for a second weekly decline on receding concerns of a U.S.-Iran conflict that could affect supply.
West Texas Intermediate (WTI) crude fell 12 cents, or 0.2%, to $62.72 after falling 2.8%.
Brent crude oil futures were down 6 cents, or 0.1%, at $67.46 a barrel at 0448 GMT after falling 2.7% in the previous session.
Prices gained earlier this week on concerns the U.S. could attack key Middle Eastern producer Iran over its nuclear programme but comments on Thursday from U.S. President Donald Trump that the U.S. could make a deal with Iran over the next month drove prices lower in the previous session.
Top Stories
CNBC – February 12, 2026
The Trump administration on Thursday revoked a landmark scientific finding that serves as the legal foundation for federal regulations to limit greenhouse gas emissions, in a devastating blow to efforts to combat climate change. The Environmental Protection Agency’s endangerment finding, established under President Barack Obama in 2009, classified carbon dioxide, methane and four other greenhouse gases as a threat to public health and welfare.
It underpins Clean Air Act emissions standards and rules for cars and light trucks, power plants, and oil and gas industry facilities. “This is about as big as it gets,” President Donald Trump said at the White House with EPA Administrator Lee Zeldin. “Under the process just completed by the EPA, we are officially terminating the so-called endangerment finding.”
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Texas Tribune – February 12, 2026
In a contest to regulate Texas’s oil and gas industry, one Republican wants to talk DEI and China
The Republican primary election for a seat on the Texas governing board that regulates the oil and gas industry has oscillated from how the agency should bolster its regulatory force to a proposed crackdown on Islamic and Chinese influence in the state’s oil fields. Four Republicans want to unseat Jim Wright, the incumbent who is at the end of his six-year term as one of three commissioners for the Texas Railroad Commission.
Most have argued that the agency must tighten the reins on the oil and gas industry. But one candidate thinks the agency has allowed diversity efforts and foreign influence to go unchecked, saying China is acquiring Texas land and expanding its influence on the state.
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Fox News – February 12, 2026
Inside Chevron’s flagship refinery tapping into Venezuelan crude after Maduro’s capture (+ video)
Chevron’s flagship Gulf Coast refinery is processing its first Venezuelan oil shipment since the U.S. capture of Nicolás Maduro in Caracas last month, turning heavy, tar-like crude into gasoline, diesel and jet fuel for American consumers. “We’ve been [in Venezuela] for a long time, and it looks like things are starting to go better for both the Venezuelan people and I would say for the American people too, because what’s going to happen is the more that oil that flows to a place like Pascagoula or some of the other refineries here, it drives down the cost,” Andy Walz, President of Downstream, Midstream & Chemicals at Chevron, told FOX Business in an exclusive interview Thursday.
“That oil is going to be cheaper, it’s closer, and it’s going to help these refineries run the way they were designed, so I think it’s a really good thing.” Walz’s comments were among the first public acknowledgments by Chevron of processing Venezuelan crude in U.S. refineries under the company’s renewed sanctioned operations. FOX Business was granted exclusive access inside Chevron’s facility in Pascagoula, Mississippi on Thursday, where correspondent Lauren Simonetti reported near distillation units processing Venezuelan oil that arrived weeks ago.
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S&P Global Platts – February 12, 2026
TotalEnergies targets AI-driven growth with premium power deals for data centers
TotalEnergies is securing a roughly 10% premium on some renewable power sales by bundling electricity with land, grid access and battery storage for data center development, company executives said Feb. 11, as artificial intelligence-driven demand continues to reshape corporate power markets. The integrated model — which goes beyond traditional power purchase agreements — enables TotalEnergies to sell power at above-average rates while accelerating the build-out of its renewables pipeline, according to Stephane Michel, president of the company’s gas, renewables and power segment.
Michel cited a recently agreed 1-GW solar PPA with Google in Texas that includes options to co-locate a 1.5-GW data center — with TotalEnergies offering land and a grid connection — as well as battery storage installation.
The Latest TERse Tips
Any US-Iran war would threaten energy security and could lead to the closure of the Strait of Hormuz, warns the secretary of Iran’s Strategic Council on Foreign Relations on Thursday — Iran International — The U.S. Department of Transportation’s Maritime Administration earlier this week advised U.S.-flagged commercial vessels to stay as far from Iran’s territorial waters as possible and to verbally decline Iranian forces permission to board if asked, according to the guidance
Politico implies attempts to sue fossil fuel companies billions of dollars to account for climate-fueled damage to states, such as wildfires and floods, are being adopted by Democrats at several governmental levels, while one Republican is vowing to fight back
Russia’s Volgograd oil refinery suspended oil processing on Wednesday after a Ukrainian drone attack triggered a fire at the plant — Oil Price — another Russian refinery near the Arctic Circle was hit Thursday morning, according to some reports
Southbound natural gas flows out of the Haynesville Shale topped 5 Bcf/d in late 2025 after two new pipelines entered service, boosting Gulf Coast supply while Permian Basin takeaway additions remain months away — Natural Gas Intelligence*
Crypto Industry Targets Al Green, a Texas Democrat Who Voiced Concerns — a crypto-backed super PAC plans to spend $1.5 million against Mr. Green, a member of the House Financial Services Committee who has expressed concerns about cryptocurrency — The New York Times*
One Austin company has developed a private AI platform that can run from a phone rather than relying on large data centers — “We try to get it on device, running in an environment that’s sustainable,” said Tyler Mauer, co-founder of webAI — the company develops AI models that target specific domains like health care and military operations — Spectrum News
Soluna Holdings, Inc. has received approval from the Electric Reliability Council of Texas to begin energizing its Project Kati 1, an 83 MW wind-powered data center campus in South Texas — Investing
The Texas power grid gets poor marks in a report card by consulting firm Grid Strategies and non-profit advocacy group Americans for a Clean Energy Grid — Axios
A Texas oil field worker has been detained in one of Mexico’s most dangerous prisons for nine months after crossing the border in an “honest accident” while his family pleads for his safe return — AOL
US Energy Secretary Chris Wright visits Venezuela to assess oil industry overhaul — Associated Press/KXAN
Entergy Corporation reported fourth quarter 2025 earnings per share of 51 cents on an as-reported and an adjusted (non-GAAP) basis, and for the full year, the company reported 2025 earnings per share of $3.91 on an as-reported and an adjusted basis — see the press release
Five workers were hospitalized after fire on Monday at Valero’s Ardmore OK refinery — the fire was put out quickly — KTEN
Canada eyes boosting fines for industrial emissions — Prime Minister Mark Carney is turning to factories and power plants to cut emissions, after scrapping a consumer carbon tax last year — Politico*
Oil & Gas Texas
Reuters/Fidelity – February 11, 2026
SM Energy is seeking buyers for Eagle Ford natural gas assets, sources say
SM Energy ( SM ) has launched the sales process for some of its natural gas-producing assets in the Eagle Ford shale basin of South Texas as it looks to trim debt following its near $13 billion merger with Civitas, three sources familiar with the matter said. SM Energy ( SM ) closed the merger last month and took on around $5 billion of Civitas net debt as part of the all-stock deal.
*The company earlier announced plans to raise at least $1 billion from divestitures within the first year of the deal completion to cut debt and shore up its balance sheet. SM Energy has not previously disclosed which assets it planned to part with. The Eagle Ford assets that SM Energy is marketing would likely fetch more than $500 million, one of the sources said.
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Bloomberg – February 12, 2026
Venezuela Plans to Grant More Oil Blocks to Chevron, Repsol*
Venezuela plans to grant more oil-production land to Chevron Corp. and Spain’s Repsol SA as the Trump administration pushes for private companies to rebuild the nation’s energy sector, according to people with knowledge of the matter. Officials in Caracas are poised to award the exploration and production blocks as soon as this week, the people said. Giving US and European companies more access to Venezuela’s oil-rich territory is a key piece of US President Donald Trump’s push to revive the nation’s dilapidated energy sector while eroding China and Russia’s local influence.
On Thursday, US Energy Secretary Chris Wright toured a project operated by Chevron in Venezuela’s Orinoco oil belt and told reporters that the opportunity for cooperation between the US and the South American nation is immense following the capture of former Venezuela President Nicolás Maduro. In an interview with Bloomberg TV, Wright said the US would release additional licenses “soon,” with companies like Chevron seeing benefits from an increase of as much as a 30% in production in the next 18 to 24 months. “Chevron is being enabled to massively grow their business here. They’re the largest producer in Venezuela today, and they’re going to be able to both expand the reserves they have and expand their operations,” Wright said.
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MSN – February 12, 2026
TotalEnergies announces 40% stake sale in two exploration licenses in Nigeria to Chevron
TotalEnergies has agreed to sell a 40% stake in two offshore exploration licenses in Nigeria to Chevron, with the aim to enhance collaboration between the French and US energy giants, the company said on Monday. After the sale, TotalEnergies will continue to operate the site with a 40% stake, sharing responsibilities with Chevron and South Atlantic Petroleum. The transaction with Chevron will be completed once standard conditions are met, including obtaining regulatory approvals, it said.
This new joint venture highlights TotalEnergies’ worldwide offshore exploration partnership with Chevron, after acquiring a 25% working interest in a portfolio of exploration leases offshore the US in June, which includes 40 blocks operated by Chevron. “After launching our joint venture in US offshore exploration in June, we’re delighted to now expand our collaboration to Nigeria to unlock new resources in the West Delta basin,” said Nicola Mavilla, Senior Vice-President Exploration at TotalEnergies. “This new joint venture aims at derisking and developing new opportunities in Nigeria, in line with the objectives of the country.”
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Louisiana Illuminator – February 11, 2026
Louisiana bets big on ‘blue ammonia.’ Communities along Cancer Alley brace for the cost.
From her home in Donaldsonville, less than three miles from the world’s largest ammonia plant, Ashley Gaignard says the air itself carries a chemical edge. The odor, she said, is sharp and lingering. Years ago, when her son attended an elementary school about a mile from the massive CF Industries ammonia production facility, he would begin wheezing during recess, she recalled. His breathing problems eased only after he transferred to a school several miles farther away.
“I’m not against progress,” Gaignard said. “We are against development that poisons and displaces and disregards human life.” Now, along Louisiana’s Mississippi River corridor, fertilizer giant CF Industries and other companies are placing multibillion-dollar bets on “blue ammonia” — a product made from fossil fuels but with extra technology to capture planet-warming gases and pipe them underground for storage.
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ProPublica – February 12, 2026
Salty, Oily Drinking Water Left Sores in Their Mouths. Oklahoma Refused to Find Out Why.
In the summer of 2022, months after Tammy Boarman and her husband, Chris, moved into their newly built “forever home” 30 miles from Oklahoma City, the plants in their yard began to turn yellow. The shrubs wilted, though Tammy watered them often. And the couple began to notice a salty taste in their drinking water. The water came from a private well, drilled the year before, and they hoped that the bad taste would fade with time and with the help of a water softener.
But the problem grew worse. Their ice maker expelled large clumps of wet salt, which, when rubbed, dissolved into an oily, foul-smelling substance. The couple knew that some oil and gas extraction took place nearby. Down dirt roads and behind stands of oak trees in their neighborhood, pump jacks nodded up and down, pulling up oil. This is a common sight in Oklahoma. Several studies estimate that about half the state’s residents live within a mile of oil and gas wells.
Oil & Gas National & International
Reuters – February 12, 2026
US-led oil sales from Venezuela to bring in $5 billion in months, energy chief Wright tells NBC News
Oil sales from Venezuela controlled by the U.S. have totaled over $1 billion since the capture of President Nicolas Maduro in January and in the next few months will bring in another $5 billion, U.S. Secretary of Energy Chris Wright told NBC News on Thursday. Much of the oil is being refined in U.S. refineries, and the administration of U.S. President Donald Trump has handed over proceeds from the sales to Venezuela’s interim government, he added.
“Sales today are over a billion dollars, and in fact, we have sort of short-term agreements over the next few months that will bring in another $5 billion,” Wright said in the interview on his second day of a visit to Venezuela. Wright toured facilities in the Orinoco heavy crude belt with officials from U.S. oil company Chevron on Thursday, having met with Interim President and Oil Minister Delcy Rodriguez a day earlier. He is the highest-ranking U.S. official to visit the country since the U.S. capture and removal of Maduro six weeks ago.
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Reuters – February 12, 2026
Global shipping industry sticks with green investments, despite carbon price delay*
The shipping industry’s biggest players are shrugging off Trump administration opposition to a global carbon price and are forging ahead with billions of dollars in emissions-reducing investments, according to company officials and a Reuters analysis of data. Europe, Brazil and a host of other nations are pushing the sector, which is responsible for nearly 3% of the world’s greenhouse gas emissions, to go green. But, in October, the U.S. and Saudi Arabia, the world’s two largest oil producers, successfully spearheaded efforts to postpone by one year a decision on the International Maritime Organization’s proposal of a $380-per-metric-ton levy.
Some analysts and industry observers initially warned that the absence of such a global framework added complexity to companies’ planning and could cause some to pause their green investments. But in interviews with 15 shipping companies, ports, bunker suppliers and marine technology companies, 10 told Reuters that regional regulations, long investment lead times, and expectations of a continuing trend towards decarbonisation all argued in favor of staying the course.
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S&P Global Platts – February 12, 2026
IEA sees narrower oil surplus after January production slump
The International Energy Agency has revised down the magnitude of the global oil supply glut it foresees in the first quarter of 2026 after weather-related outages and sanctions pressure slashed output in January, it said Feb. 12. In the latest edition of its closely-watched monthly oil market report, the IEA said that the world’s oil producers pumped 1.2 million barrels per day less supply in January, observing what it called an “exceptional plunge” that should recover in the coming months.
The surprise contraction was driven by extreme winter weather that shut in over 1 million b/d of North American production, coupled with prolonged disruptions at Kazakhstan’s key CPC export terminal, the IEA said.
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E&E News By Politico – February 11, 2026
Alaska gas pipeline project work could start in April*
Developers of a major liquefied natural gas project in Alaska are aiming to begin initial pipeline-related work as soon as mid-April, according to a new filing with federal regulators. Early activity on the Alaska LNG project would include building 20 construction camps, 46 sites to store pipes and around 100 construction bridge crossings, the implementation plan showed.
Glenfarne Group is the lead developer of the Alaska LNG project, with the Alaska Gasline Development Corp. involved as a minority owner. The 119-page filing last week with the Federal Energy Regulatory Commission offers new insight into the pipeline’s construction timeline, which Glenfarne hopes to have mechanically completed in 2028, with first in-state gas delivery in 2029. “Glenfarne is rapidly advancing Alaska LNG to deliver reliable, affordable energy for Alaskans, backed by some of the biggest names in energy and construction,” said Tim Fitzpatrick, a Glenfarne spokesperson, in a statement Monday. “This implementation plan describes the next steps for early works activities to achieve that objective.”
DeSmog – February 12, 2026
The Oil Industry’s Latest Disaster: Trillions of Gallons of Buried Toxic Wastewater
A cache of government documents dating back nearly a century casts serious doubt on the safety of the oil and gas industry’s most common method for disposing of its annual trillion gallons of toxic wastewater: injecting it deep underground. Despite knowing by the early 1970s that injection wells were at best a makeshift solution, the U.S. Environmental Protection Agency (EPA) never followed its own determination that they should be “a temporary means of disposal,” used only until “a more environmentally acceptable means of disposal [becomes] available.”
The documents include scientific research, internal communications, and talks given at a December 1971 industry and government symposium. And they come from multiple federal agencies, including the EPA, the U.S. Department of Energy, and the U.S. Geological Survey (USGS). The documents show there may be little scientific merit to industry and government claims that injection wells are a safe means of disposal — putting drinking water and other mineral resources in communities across the country at risk of contamination, and jeopardizing local economies and public health.
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JD Supra – February 11, 2026
New York Again Tries To Block Constitution Pipeline: Flaster Greenberg PC
For the last decade, the New York State Department of Conservation (DEC) has been trying to usurp the power of the Federal Energy Regulatory Commission (FERC) by withholding the granting of state certifications that are otherwise allowed under Section 401 of the Clean Water Act (CWA) pertaining to the siting of interstate oil and gas pipelines through any “waters of the United States.”
While previously the right obligation of states to issue CWA certifications had been considered to be a largely administrative, if not perfunctory, task, then New York Governor Andrew Cuomo changed all of that in 2016 when he determined – as a matter of broad state policy and not necessarily any project specific analysis – that, henceforth, New York State would no longer issue Section 401 Permits for any fossil fuel pipeline whatsoever
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MSN – February 11, 2026
Libya awards new oil, gas blocks to Chevron, Eni, others in first bidding round since 2007
Libya awarded oil and gas exploration blocks to foreign firms on Wednesday, including Chevron, Eni, QatarEnergy and Repsol, in its first licensing round in nearly two decades as it seeks to revitalise the sector despite political risks. The National Oil Corporation (NOC) announced the winners of its first bidding round since 2007, allocating key acreage across the onshore Sirte and Murzuq basins and the gas-rich offshore Cyrenaica field in the Mediterranean.
Italy’s Eni and QatarEnergy secured rights to Offshore Area 01, strengthening a strategic partnership between them that has expanded across the Mediterranean. A separate consortium of Spain’s Repsol, Hungary’s MOL and Turkey’s state-owned TPOC won Offshore Area 07.
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Orange Leader – February 6, 2026
When I explain carbon capture and storage to my students, I start with a map of Southeast Texas. I point to the refineries and the power facilities, and then to the thick layers of rock below that have securely contained natural resources for millions of years. That map tells the story of why the Golden Triangle is uniquely suited to be an internationally-recognized hub for the safe capture and storage of carbon emissions.
In the Golden Triangle, carbon capture and storage (CCS) from industrial facilities follows the same practical application of geology, engineering, and industrial systems that this region has understood for generations. As these projects are planned and begin to come online, we are seeing well-established science applied to meet demands of a changing global economy.
Utilities, Electricity & Renewables
Fort Worth Star-Telegram – February 12, 2026
Hood County’s proposed moratorium on data centers squashed by Texas senator*
The county was considering a six-month pause on any new projects to allow time to study regulations over air and water quality and pollution. Developers have multiple projects in the pipeline in Hood County, including a 2,600-acre data center complex called Comanche Circle that has triggered a tsunami of opposition from ranchers, landowners and conservationists near Glen Rose.
The standing-room only Commissioners Court was hours into a public hearing on the issue Tuesday when a letter from Texas Sen. Paul Bettencourt arrived. Addressed to Attorney General Ken Paxton, with a subject line “Proposed Illegal County Moratorium on Development,” the letter said counties are merely political subdivisions of the state without any powers other than those specified by the constitution or state statutes. And a moratorium isn’t among those powers. The commissioners ended up voting 3-2 against the six-month
County attorney Matt Mills read Bettencourt’s letter following an impassioned public hearing where most speakers told commissioners that their quality of life, and livelihoods, were at stake. Bettencourt’s letter cited a law adopted last year that attempts to limit the ability of Texas cities to implement moratoria. He said the Senate Committee on Local Government “will be closely monitoring these situations” like with Hood County’s proposal.
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Rio Grande Guardian – February 12, 2026
Hancock says Texas has enough energy for all the data centers coming
Acting Texas Comptroller Kelly Hancock says he is not concerned about the amount of electricity needed to power big data centers. But water, that is another thing. Hancock was the keynote speaker at a Texas Talks luncheon hosted by Brownsville Chamber of Commerce. His presentation was titled Fiscal Futures Briefing. The event took place at the Brownsville Events Center.
In the Q&A portion of the event, Hancock was asked whether Texas could handle all the data centers being proposed. “That’s a great, great question,” Hancock said. “Water is a huge concern of mine. I was vice chair of the Water & Ag Committee (in the Texas Senate), and so water is a huge concern of mine. And while we invested in it, the legislature, I think it’s got to be significantly more.”
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ESS News – February 12, 2026
Texas lands its first battery-only virtual power plant
For little more than a monthly subscription to Netflix, homeowners and “solar orphans” in Texas can now tap into a new “battery-only” virtual power plant (VPP) program from clean energy financing company Solrite Energy and VPP-based energy storage system manufacturer sonnen.
The offering builds on the companies’ previously launched virtual power plant power purchase agreement (VPA) that already provides 3,000 customers across the Electric Reliability Council of Texas (ERCOT) service area with solar and storage at no upfront costs and $0.12 per kWh rates. Now, per a conversation with leadership from both companies, the partnership plans to provide another 10-12,000 homes across the state with three 60 kWh sonnen batteries throughout the rest of the year. Unlike the first part of the program, however, customers can opt to only install batteries and not solar.
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Business Insider – February 12, 2026
Anthropic says it will pay 100% of the grid upgrade costs tied to its AI data centers
Anthropic says it’s going to foot the bill for electricity price increases tied to its data centers. “We will pay for 100% of the grid upgrades needed to interconnect our data centers,” Anthropic said in a blog post published Wednesday, adding that it will absorb costs that might otherwise be passed on to American households.
Anthropic said it will secure additional power to avoid pushing up electricity prices and invest in “grid optimization tools” designed to reduce strain and keep prices low. …. In a statement to Business Insider on Thursday, Anthropic CEO Dario Amodei said that “the costs of powering our models should fall on Anthropic, not everyday Americans.”
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CNBC – February 12, 2026
Families won’t see relief from rising electricity prices anytime soon, as demand from artificial intelligence data centers soars while power supply grows slowly, according to Goldman Sachs. Electricity prices jumped 6.9% in 2025 year over year, more than double the headline inflation rate of 2.9%, Goldman analysts told clients in a research note published Wednesday.
Prices will continue to rise through the end of the decade, as data centers make up 40% of electricity demand growth, the analysts said. This will lower disposable income, drag down consumer spending and slightly slow economic growth in the coming years, they said. Households will see electricity prices rise an additional 6% through 2027, the analysts said. Price inflation will then slow to 3% in 2028 on lower natural gas prices, they said. Consumer spending growth will fall 0.2% through 2027 and economic growth will slow 0.1% as a result, according to Goldman.
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Oil Price – February 5, 2026
How Vulnerable is the US Electrical Grid to Winter Outages?
A winter wallop that delivered a blast of Arctic air to two-thirds of the United States last weekend brought with it power failures, partially due to snow, ice and falling trees or branches damaging power lines. At least 35 deaths were reported, including three brothers between the ages of 6 and 9 who fell through an iced-over pond in Texas, and two people who were run over by snowplows in Massachusetts and Ohio.
The mega-storm reportedly caused blackouts to more than a million customers, especially in Tennessee, Mississippi and Louisiana. As of Tuesday morning there were still 550,000 outages across the country, according to poweroutage.com, via CBC News, with most of them in the South, where weekend blasts of freezing rain caused tree limbs and power lines to snap, inflicting crippling outages on northern Mississippi and parts of Tennessee.
Regulatory
E&E News – February 11, 2026
Winter storm revives fierce congressional grid fight
Grid operators across the country have managed recent extreme winter weather with only limited challenges, but that hasn’t stopped lawmakers from using last month’s storm in the fight over which energy sources are better to keep the lights on. For years, severe weather and power outages have been followed by Democrats and Republicans on Capitol Hill arguing about the merits of fossil fuels versus renewables.
Republicans have gone on the offensive since Winter Storm Fern battered roads and energy infrastructure with heavy snow, ice and freezing rain from Texas to New England. In floor speeches, committee hearings and interviews, they argue that one thing prevented the energy grid from collapsing: reliable and affordable power from natural gas, coal and nuclear plants.
“Not surprisingly, fossil fuels and nuclear power provided the bulk of electricity during this week’s storm and the intense cold that followed,” said Senate Environment and Public Works Chair Shelley Moore Capito (R-W.Va.) during floor remarks. “Renewable sources generated smaller amounts of electricity, and they were also sporadic.”
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Texas Energy Report NewsClips
Thursday February 12, 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
Top Stories
TruthDig – February 11, 2026
Radioactive Oil and Gas Waste May Lie Beneath a North Texas Elementary School
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On a cold winter morning in Johnson County, Texas, at the southwestern edge of the booming Dallas-Fort Worth Metroplex, 52-year-old Lee Oldham stands beside the Pleasant View Elementary School and wonders what the drilling waste he helped lay underneath might mean for the children inside. Surrounding the school is the partially complete 2,500-home Silo Mills development that will supply it with children and that is also built atop drilling waste, according to satellite maps and interviews. The first families moved in two years ago.
“They weren’t telling anyone this was a radioactive material. They told us it was safe,” said Oldham, who worked as a bulldozer operator here from 2009 to 2011, laying waste that he said was generally six inches to a foot deep, but in spots as much as two to three feet. In 2015, Oldham returned to the same area doing reclamation work that involved putting one to two feet of local dirt back over the waste.
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The Wall Street Journal – February 11, 2026
OPEC Holds Oil-Demand Forecast Steady, Says Production Fell in January*
The Organization of the Petroleum Exporting Countries kept its forecasts for global oil-demand unchanged and said production from the wider OPEC+ alliance fell last month amid losses in Venezuela, Iran and Kazakhstan. Oil demand is projected to rise by 1.34 million barrels a day next year—slightly below 2026’s estimated 1.38 million barrels a day—supported by easing inflation, fiscal measures and improving global trade, the Vienna-based cartel said in its closely watched monthly report.
In the second quarter of this year, demand for OPEC+ crude is set to average 42.2 million barrels a day in the quarter, down from 42.60 million barrels a day in the first quarter. The estimates were left unchanged from last month’s report. Oil prices rose more than 2% on Thursday, with Brent crude climbing back above $70 a barrel and West Texas Intermediate above $64 a barrel as traders closely monitor developments between the U.S. and Iran amid fears that any potential escalation between the two nations could disrupt energy flows.
In January, OPEC crude-oil output fell by 135,000 barrels a day to 28.45 million barrels a day, while total production from OPEC+ members slid by 439,000 barrels a day to 42.45 million barrels a day, dragged lower by a sharp decline in Kazakhstan’s output. Venezuelan crude production fell by 87,000 barrels a day to 830,000 barrels a day, while Iran’s output declined by 81,000 barrels a day to 3.13 million barrels a day, the cartel said, citing secondary sources.
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Houston Chronicle – February 11, 2026
The CEO and co-founder of the Dallas-based pipeline giant Energy Transfer, Warren has used his $7.7 billion fortune to build up a reputation as a GOP kingmaker, helping politicians from former Gov. Rick Perry to President Donald Trump. This election cycle, he’s already given $12. 5 million to the pro-Trump Super PAC MAGA Inc., according to campaign filings. And now he’s trying to help Cornyn stay in office for a fifth term. Warren and his company have donated $1.3 million to the pro-Cornyn Super PAC.
If Cornyn makes it through the primary, Warren is a good person to have in his corner should he need a last-minute infusion of cash. Two weeks before the 2024 presidential election, Warren gave $2.5 million to Trump’s Turnout for America PAC.
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Energy News Beat – February 11, 2026
100 Wind Turbines Get an Upgrade in Texas, but at What Cost?
The Prairie Hill Wind Farm, commissioned by ENGIE in 2021 as one of the company’s largest U.S. renewable projects, was built at a reported cost of around $300 million. Now, just five years later, the entire array is facing the wrecking ball. According to ENGIE representatives who briefed local officials in January, the old turbines—each standing over 300 feet tall—are being fully decommissioned, not merely refurbished.
In their place? Sleeker, more powerful units that promise the same energy output from 37 fewer foundations. We cannot obtain confirmation that the 37 foundations will be cleaned to farm standards. This isn’t your garden-variety maintenance; it’s a full-scale repowering that boosts nameplate capacity without expanding the footprint. On paper, it sounds like a win for green energy: higher efficiency, lower visual clutter, and sustained power for the ERCOT grid.
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MSN – February 11, 2026
Baker Hughes wins ‘significant’ gas turbine order for Georgia, Texas data center projects
Baker Hughes in Wednesday’s trading to a nine-year high of $62.08 after saying it received a “significant order” from power generation company Twenty20 Energy for 10 Frame 5 gas turbines and associated generator technology supporting up to 250 MW of power generation capacity. Initial deliveries have been designated for Twenty20 Energy’s data center projects in Georgia and Texas and are scheduled for 2027.
The order comes as the two companies move toward a strategic agreement in which Baker Hughes (BKR) will supply multi-gigawatt power generation equipment to deliver reliable and sustainable power to meet the rapidly increasing demand for AI and digital infrastructure in the U.S.
The Latest TERse Tips
The US government issued a general license to allow oilfield-service companies to work in Venezuela as the Trump administration eases sanctions and pushes to rebuild the nation’s crude infrastructure — the license issued by the Treasury Department allows US firms to explore, develop and produce oil and natural gas in Venezuela under certain limited conditions, according to a statement Tuesday — the move is the latest in a series of steps Washington has taken to entice US companies to revive output from Venezuela’s vast crude reserves after last month’s capture of strongman Nicolás Maduro — Bloomberg*
Natural gas prices rose sharply in January, averaging $7.72 per million British thermal units (MMBtu), as cold weather increased heating demand, reduced production, and led to record storage withdrawals during Winter Storm Fern — the drawdown for the week ending January 30 was the largest weekly net withdrawal recorded in the history of EIA’s Weekly Natural Gas Storage Report — in the February Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) now forecasts U.S. natural gas inventories to end the withdrawal season in late March at less than 1.9 trillion cubic feet. This is 8% below previous forecasts, prompting the forecast for the Henry Hub spot price for February and March to be 40% higher than last month’s STEO — EIA
Tesla shuffling top sales leadership as deliveries of its EVs continue to fall — a Texas executive is leaving the Austin automaker after 13 years and the company has reportedly named a new head of global sales — Austin American-Statesman*
Why a big part of Greg Abbott’s legacy is riding on the GOP primary for Texas comptroller — [RRC Commissioner Christi] Craddick, who has served on the Railroad Commission since 2012, is also calling for a “top-to-bottom” audit of state spending. She has a far less contentious relationship with Abbott, who appointed her to the Southern States Energy Board in 2015. But the governor passed her over for Kelly Hancock when he was looking to fill the comptroller seat — Houston Chronicle*
Chevron’s El Segundo refinery key unit remains offline four months after fire
The state of Texas sued a fiberglass recycling company for dumping and abandoning thousands of wind turbine blades and components, creating two unauthorized parts graveyards in West Texas — Global Fiberglass Solutions, a Texas company, illegally accumulated and abandoned over 3,000 blades and parts, the complaint says — Houston Chronicle*
Federal regulators have concluded that two major Kinder Morgan Inc. natural gas pipeline projects spanning nearly 500 miles across the Southeast would not cause significant environmental harm, clearing a key hurdle for the multibillion dollar buildout — Natural Gas Intelligence*
Cheniere Energy Inc.’s marketing unit has clinched more shipping capacity for its expanding portfolio of Gulf Coast exports as the U.S. LNG boom ushers in a squeeze on carrier supply — Natural Gas Intelligence*
The US Federal Aviation Administration reopened airspace around El Paso, Texas, in a sudden reversal after announcing a 10-day closure that grounded flights in the city on the US-Mexico border — Trump administration officials cited unmanned aircraft activity from Mexican drug cartels for the shutdown — Bloomberg*
Evolution Petroleum Corp. on Tuesday reported fiscal second-quarter earnings of $1.1 million — San Antonio Express-News*
Dozens of tankers filled with Russian oil are floating at sea without buyers — western powers are seizing the aging ships the country relies upon. Buyers of Russian oil are demanding the steepest discount to global oil prices since the early months of the war in Ukraine — it all spells crunchtime from Moscow’s most important economic engine — The Wall Street Journal*
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Oil & Gas Texas
Texas Monthly – February 11, 2026
He Wants to Deport Native Americans. He May Win Statewide Office in Texas.*
Top Texas Republicans tried to cancel Bo French when he ran the Tarrant County Republican Party. Now, as he runs for railroad commissioner, they are silent.
French and Patrick still share the same demanding patron, far-right billionaire Tim Dunn. The Midland oilman gave both politicians a nice payday last year from one of his PACs, the Texas Freedom Fund for the Advancement of Justice. French received an in-kind donation of advertising worth $150,000.
French does tweet about the railroad commissioner race. He regularly attacks Wright, who has performed his duties like almost every other railroad commissioner in the last couple decades—that is, by faithfully catering to the needs of fossil fuel companies. But most of French’s online “messaging” has little to do with pipeline safety or gas flaring or any other matter that keeps the petrodollars flowing. If anything, his rhetoric on X has grown even darker. French has recently been flagged for violating rules against violent speech—quite an accomplishment on Elon Musk’s platform—in tweets calling to “hang repeat violent offenders” and “remove third world subtards” from the country.
While the killing of Renee Good and Alex Pretti in Minneapolis have set off waves of protest and revulsion—and made significant dents in Trump’s approval rating—the would-be railroad commissioner has been thirstily seeking approval from far-right influencers for his big idea: rounding up, denaturalizing, and deporting 100 million people— nearly one out of every three people in the country—whom he dubs “foreigners.”
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MSN – February 11, 2026
Exxon exec says proposed European methane rules would add 13% to refiners’ oil costs
European Union rules intended to curb methane emissions could add ~13% to the cost of crude oil imports and strike a heavy blow to the bloc’s industrial base, Exxon Mobil’s (XOM) president of product solutions Matt Crocker told Bloomberg on Tuesday. ~80% of the E.U.’s current imports of crude oil would not satisfy the bloc’s methane criteria in 2027, and securing alternate supplies from the smaller pool of compliant crudes would add ~$9/bbl to the average price the bloc pays, Crocker said.
“We’re very supportive of reducing methane emissions and are very active in the U.S., but what European policy is doing is taking that into an extreme,” Crocker said in an interview. It is not the first time the European Union’s methane emissions rules have been opposed by U.S. producers, with previous complaints largely focusing on easing the burden on imports of liquefied natural gas from the U.S.
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Midland Reporter-Telegram – February 7, 2026
Energy Transfer confirms upsizing of Desert Southwest pipeline*
Permian’s pipeline boom continues rolling along, fueled by rising demand for the region’s natural gas. Energy Transfer’ Transwestern Pipeline expansion, Desert Southwest, has undergone an expansion before construction begins. The company announced in December it will upsize the project’s mainline pipeline diameter from 42 inches to 48 inches, increasing capacity to up to 2.3 billion cubic feet per day, depending on final compression configuration. The pipeline will move natural gas from various receipt points in the Permian Basin area to existing and new delivery points in New Mexico and Arizona. The upsized project is now expected to cost $5.6 billion. Energy Transfer still expects the project to enter service in the fourth quarter of 2029, consistent with the original timeline.
There is significant demand growth in the Desert Southwest region, including the potential to retire and or convert coal-fired power plants to natural gas, which could further benefit the project. The ultimate capacity of the Desert Southwest expansion project will be based on market demand, company officials said in announcing the expansion. Analysts at East Daley Analytics noted that the company had indicated in its third quarter 2025 earnings call that it was considering the expansion after an initial open season received significant interest above the original capacity.
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Iraqi News – February 11, 2026
Iraq seeks stronger energy ties with ExxonMobil and Chevron
Iraq is moving to strengthen its partnership with US oil giants ExxonMobil and Chevron. The move aims to protect the country from rising regional tensions. It also seeks to ease pressure linked to US-Iran relations. According to Bloomberg, Baghdad views cooperation with American companies as a way to gain favor with US President Donald Trump.
The report said ExxonMobil and Chevron are looking to expand production in OPEC countries. Many of these countries face serious geopolitical risks. US foreign policy under President Trump has helped the companies secure new energy deals.
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Reuters – February 10, 2026
Williams forecasts higher 2026 profit as pipeline projects drive growth*
Rising electricity use from crypto-mining, households, businesses and an AI-driven boom in data centers is set to boost natural gas demand this year, strengthening pipeline operators’ expectations of sustained long-term need for gas infrastructure. Williams completed 1.1 billion cubic feet per day (bcfpd) of pipeline transmission projects in 2025, while another 7.1 bcfpd of pipeline projects are currently in execution.
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Natural Gas Intelligence – February 11, 2026
Pipeline Data Signals Sharp Rebound in LNG Feed Gas Demand
19.3 Bcf/d: Feed gas nominations to U.S. LNG terminals have reportedly swung back with a vengeance, according to pipeline data, indicating exporters could be looking to make up for lost time during the winter storm. Wood Mackenzie estimated nominations could reach 19.3 Bcf/d Wednesday and average 18.7 Bcf/d in the coming seven days. The firm noted the persistent rise over the past few days “has been driven by the largest feedgas nominations we have ever seen” at East Coast terminals, but cautioned that those numbers could be revised in a later cycle.
45%: LNG inventories at Cameron LNG are building to the highest point in more than seven months as feed gas nominations to the plant run near maximum capacity, according to pipeline and Kpler data. Inventories at the facility reached 45% of capacity this week, with 1,229 GWh — around 4 Bcf — in storage, according to Kpler. It could be the highest point reported since last June. The build comes as feed gas nominations to the Cameron LNG receipt point continue to hover at 99% of capacity for the 11th day in a row, according to Wood Mackenzie pipeline data.
Oil & Gas National & International
Pipeline & Gas Journal – February 10, 2026
U.S. License Relief Could Restore Venezuela Oil Output by Mid-2026
Expanded U.S. licenses for Venezuela-related deals are expected to restore the South American country’s oil production by mid-2026 to the level it was at prior to a U.S. naval blockade of the country in December, the U.S. Energy Information Administration said on Feb. 10. Venezuela’s state oil company PDVSA was forced to make deep output cuts after Washington imposed the strict naval blockade to pressure Nicolas Maduro, the Venezuelan president captured by U.S. forces in early January.
The blockade cut off Venezuela’s ability to export oil, causing an accumulation of millions of barrels of crude oil in onshore storage tanks and vessels. Venezuela was producing around 1.1 million to 1.2 million barrels per day of crude oil before the blockade.
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CNBC – February 11, 2026
The CEO of French energy major TotalEnergies said it was “too expensive and too polluting” to return to Venezuela, despite calls from U.S. President Donald Trump for Big Oil to invest billions in the country. The company quit Venezuela in 2022 but the Trump administration has urged oil majors to return since the U.S. military operation to seize the country’s president, Nicolás Maduro, on Jan. 3.
Speaking on Wednesday, TotalEnergies CEO Patrick Pouyanné told reporters the company quit the country “because it clashed with our strategy. It was too expensive and too polluting and that is still the case.” The comments were reported by Reuters. A spokesperson for TotalEnergies was not immediately available for comment when contacted by CNBC.
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The Wall Street Journal – February 11, 2026
TotalEnergies Slashes Buyback, Boosts Savings Target as Lower Prices Hit Profit*
TotalEnergies said it would reduce stock buybacks and step up cost savings after lower oil prices hit its fourth-quarter results. The French energy giant is looking to boost its output of both hydrocarbons and electricity while reining in expenses, at a time when oil majors are positioning themselves for a period of weaker prices and greater investor scrutiny of their balance sheets. TotalEnergies said Wednesday that it would halve its quarterly buyback to $750 million, with planned repurchase shares valued at between $3 billion and $6 billion for the year as a whole. Last year, its buybacks totaled $7.5 billion. The company previously warned it would slow the pace of its buybacks to retain flexibility amid economic and geopolitical uncertainty.
The move comes hot on the heels of BP’s suspension of its buyback as part a broader turnaround plan to cut its high net debt. But Exxon Mobil and Shell recently said they aim to keep buying back stock at the same pace as last year, pointing to a schism in how big oil companies navigate the current environment. TotalEnergies also said it would target savings over the 2026-30 period of $12.5 billion, including $2.5 billion this year. In September, it said the program would deliver savings of $7.5 billion over the same time frame.
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The Wall Street Journal – February 11, 2026
U.S. Energy Secretary Talks Oil Revival—and Democracy—in Venezuela Visit*
Energy Secretary Chris Wright said “enormous progress” is being made with Venezuela’s regime in the transformation of its decrepit oil industry, but that the objective is an end to sanctions and a transition toward democracy. “Boy, if things go in a positive direction, that’s the goal,” Wright told a small group of reporters after meeting with Venezuela’s interim president, Delcy Rodríguez, on Wednesday. “That’s the goal is to have a representative government and free trade and free commerce.”
Wright is the highest-ranking Trump administration official to arrive in Caracas since American commandos beheaded the regime by snatching strongman Nicolás Maduro and his wife on Jan. 3. That left Rodríguez, Maduro’s vice president, as the de facto head of state, but a leader beholden to the Trump administration, which has pressed for a better investment climate to lure foreign oil companies and jack up production. After a meeting at the presidential palace, Rodríguez spoke of a “productive association” that could advance bilateral relations. Wright referred to the “tremendous opportunities” in the future. They both smiled, and Wright said in Spanish, “Que viva Venezuela y viva los Estados Unidos,” which translates to “Long live Venezuela and long live the United States.”
At the same time, the day’s developments reflected the head-spinning pace at which Washington is driving the effort to repair and vastly improve the oil industry in another country—even though the Trump administration still considers the Venezuelan regime illegitimate because of its theft of elections and brutality. “You’re right, we do not recognize the current government of Venezuela,” Wright said in response to a question from The Wall Street Journal. “And most countries of the world do not.”
Utilities, Electricity & Renewables
KERA (NPR) – September 10, 2026
Hood County rejects moratorium on new data centers, large developments despite pushback
Hood County Commissioners voted Tuesday against a plan to pause all new large industrial developments as residents raised concerns about more data centers headed to the county. Commissioners rejected the six-month moratorium on new industrial permits, including data centers and factories, 3-2.
County Judge Ron Massingill and commissioners Kevin Andrews and Jack Wilson voted no. However, commissioners Nannette Samuelson and Dave Eagle argue current rules are too outdated to protect Lake Granbury’s watershed from potential pollution and noise.
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Houston Chronicle – February 11, 2026
Houston residents can now track neighborhood storm-proofing efforts with new map
After years of storm-driven outages and mounting pressure for accountability, CenterPoint Energy is pulling back the curtain on where electric grid improvements are happening across Greater Houston .The utility giant launched its new Community Progress Tracker, an interactive, public-facing map that allows residents to see where electric infrastructure improvements have been made. The move comes amid CenterPoint’s Greater Houston Resilience Initiative, a long-term effort to strengthen the region’s power grid against increasingly severe weather.
Accessible online and on mobile devices, the tracker lets users search by address or ZIP code to view completed work across CenterPoint’s 12-county service area. Updates include installing storm-resilient poles, burying underground power lines, clearing vegetation and automation equipment installed since August 2024. For this reason, CenterPoint Energy officials are excited for customers to see what progress they’ve made in real time.
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KFOX – February 10, 2026
El Paso Electric rolls out home-battery grid support program with up to $500 incentives
El Paso Electric is launching a new pilot program that would use batteries installed in customers’ homes to help take pressure off the power grid during times of high demand, particularly during extreme summer heat. The utility says the program is designed to strengthen reliability without building major new infrastructure, as demand on the grid continues to grow.
Under the pilot program, qualifying homeowners can receive a whole-home battery backup system at no cost. During periods of high demand, El Paso Electric would be able to use a portion of the stored energy to support the local grid.
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WFAA – February 10, 2026
Rising Atmos gas bills strain North Texas households
That moment when the gas bill arrives feels familiar for many North Texas households. Kortni Williams remembers exactly how she reacted when she opened hers in February. “I gasped, and then I said, I cannot believe that our bill went up this much, knowing what we did to try to keep it down,” Williams said.
Williams lives in Rockwall, where she shared her experience after commenting on a social media post about rising gas bills. She was one of hundreds of people posting their statements and venting their frustration. “I didn’t realize that so many people were affected by it,” she said. In February, Williams’ gas bill topped $290, up from about $180 in January.
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Utility Dive – February 11, 2026
Xcel Energy pursuing large load tariffs in 4 states amid data center growth
Xcel Energy announced partnerships with NextEra Energy and GE Vernova on Thursday as it seeks to speed its development of new generation to serve growing data center interest. With a newly signed deal in the Upper Midwest, Xcel Energy now has more than 2 GW of contracted data center capacity in queue, and expects to sign another gigawatt of capacity in 2026, CEO Bob Frenzel said during an earnings call Thursday.
But the real potential, he said, is in the company’s long-term opportunities. Xcel now expects to have 6 GW of contracted data centers in queue by 2027 — twice what it anticipated last October. Even greater growth may be possible beyond 2030, when Frenzel said he expects the largest data centers to come online.
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The Wall Street Journal – February 11, 2026
Here’s What We Learned About the Power Grid During the Cold Snap*
When the Arctic blast sent wholesale power prices soaring, cryptocurrency miners powered down their operations. Data centers for cloud computing and artificial intelligence kept using electricity at a high and steady rate, according to Wood Mackenzie. The research and consulting firm has sensors that monitor the electromagnetic fields around transmission lines at sites across the U.S. They measure how much power is being devoured or generated at large data centers, manufacturers and power plants.
Worries are building about the sheer number of power-hungry data centers that will need to be built to drive the AI boom. Tech companies are debating utility executives about whether their electricity needs can be met without causing blackouts during times of extreme demand, and states including Texas are requiring more flexibility from large customers. As data centers account for a larger percentage of total electricity demand over time, that could pose challenges for the grid. Utilities and grid operators often rely on nights, weekends and holidays for recovery and maintenance. They could lose those windows if more data centers are operating around the clock.
The data centers’ behavior during the recent storm contrasts with last summer, when Wood Mackenzie found that many large data centers, crypto miners and factories from New York to Texas reduced their power use when temperatures rose. In some cases, their moves led to abrupt drops in wholesale power prices. “It’s not a one-size-fits-all for these data centers,” said Rebekah Llamas, director of global power-market intelligence at Wood Mackenzie. “They pick and choose when they respond to demand to help support power markets.”
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The Wall Street Journal – February 11, 2026
Siemens Energy Books Record Order Backlog, Driven by AI Data-Center Boom*
Siemens Energy said increasing demand from data centers is driving earnings growth, and helped the German maker of energy equipment notch up its highest-ever order backlog. Grid and power-generation equipment manufacturers are benefiting from the rise of artificial intelligence and the need to power the data centers the technology relies upon. Siemens Energy said Wednesday that momentum remains strong, with first-quarter orders up by more than 30% on the same period a year earlier to 17.61 billion euros ($20.95 billion). Siemens Energy said the U.S. was the largest contributor to order growth. Its order backlog stood at a record 146 billion euros.
Net profit nearly tripled to 746 million euros for the quarter ended Dec. 31 while profit before special items jumped to 1.16 billion euros from 481 million euros. Its profit margin before special items—a key profitability metric—came in at 12% compared with 5.4% previously. Siemens Energy backed its full-year guidance for fiscal 2026. It sees adjusted revenue growth in the range of 11% to 13% and a profit margin before special items between 9% and 11%. Net profit is seen between 3 billion and 4 billion euros.
Regulatory
Yahoo! News – February 11, 2026
Texas regulators will ask data centers to begin reporting their water usage
Utility regulators in Texas will start asking data centers and crypto-mining operations statewide within a narrow timeframe to share information about how much water they’re using. The Public Utility Commission of Texas (PUC) received an update Friday about the agency sending out a survey to these facilities in the spring. Luisa Venegoni, the chief of staff to the agency’s executive director, said data centers and cryptocurrency facilities will then have six weeks to respond.
She added the PUC is working with the Texas Water Development Board on the questions. She said those would include asking about direct water use, the types of cooling technology used and insight about indirect water use, like what sources provide power to the facility. Venegoni also noted the data collected will then be compiled into a report by the end of the year that will help with statewide planning on water.
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February 10, 2026
A Failed Climate Coup in the Courts: The Wall Street Journal*
Progressive climate orthodoxy hasn’t disappeared in the Trump era, and the latest evidence comes in a strange tale from a surprising place—the bureaucracy of the federal courts.
In December the Federal Judicial Center, the research and education agency for the federal courts, published its latest edition of the Reference Manual on Scientific Evidence. A joint product with the National Academies of Sciences, Engineering, and Medicine, the manual is billed as a resource for judges deciding complex scientific cases. But instead of a cure for insomnia, the new edition included some political pamphleteering.
The manual begins with a foreword by Supreme Court Justice Elena Kagan, who writes that while judges are “generalists” who often learn about scientific issues “through the adversary process, . . . sometimes it also helps to have a dispassionate guide.” Judges will do their job better when they learn from the technical expertise of scientists, she writes, and “the law will become stronger as it further reflects sound science.”
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Texas Energy Report NewsClips
Wednesday February 11, 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
Top Stories
Reuters – February 10, 2026
Rejection of Texas law blacklisting ‘woke’ BlackRock could challenge anti-ESG laws in other states*
A Texas judge’s move to strike down a state law blacklisting “woke” financial firms, including BlackRock and HSBC, that used environmental, social or governance factors in investment decisions will likely drive a broader push to repeal so-called “anti-ESG” laws in other states, analysts said. Texas lawmakers passed the Energy Discrimination Elimination Act in 2021, requiring state agencies and local authorities to break ties with and divest the shares of companies that refused to invest in some oil and gas companies, targeting the likes of BNP Paribas and Danske Bank on its list.
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CNBC – February 10, 2026
U.S.-flagged ships have been advised to stay “as far as possible” from Iranian waters when navigating the Strait of Hormuz as tensions between Washington and Tehran remain elevated. In a notice issued Monday, the U.S. Maritime Administration said ship captains should decline permission for Iranian forces to board U.S. vessels.
Boarding attempts, including moves to force commercial vessels into Iranian waters through small boats and helicopters, have occurred as recently as Feb. 3, the agency under the Department of Transportation said. Should Iranian forces board a U.S.-flagged commercial vessel, crews were advised not to “forcibly resist the boarding party,” the notice said. It added that refraining from forcible resistance does not imply consent or agreement to that boarding.
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The Wall Street Journal – February 10, 2026
The U.S. Is Awash in Natural Gas, but American Factories Still Can’t Get Enough*
A big promise of the American shale-drilling boom was cheap, plentiful natural gas that would give U.S. manufacturers an edge against global competitors. Fifteen years in, U.S. gas production continues to reach new highs, the country has become the world’s largest exporter of liquefied natural gas and yet domestic manufacturers say they are increasingly cut off from fuel during the coldest winter days. As frigid weather swept over the mid-Atlantic region late last month, Evonik Industries’ plant in Havre de Grace, Md., received notice from its local utility: Shut off the gas or risk huge financial penalties.
In many parts of the country, there isn’t enough pipeline capacity to guarantee manufacturers a flow of gas when heating and cooling demand surges. That doesn’t happen to power plants and homes, where gas is needed to keep people from freezing. Nor are firms that ship gas to overseas buyers cut off, thanks to long-term supply deals guaranteeing them space on pipelines. Workers at the Evonik plant were dispatched to close the gas supply valve into the factory, where the German chemical maker produces silica for toothpaste and food products.
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CNBC – February 10, 2026
EPA will revoke ‘endangerment finding’ that underpins all climate regulation this week
The Environmental Protection Agency on Thursday will revoke a critical scientific finding that undergirds the U.S. government’s climate regulations and ability to regulate greenhouse gases, the White House said. “On Thursday, President Trump will be joined by Administrator Lee Zeldin to formalize the rescission of the 2009 Obama-era endangerment finding,” White House Press Secretary Karoline Leavitt told reporters on Tuesday, referring to the EPA’s leader. “This will be the largest deregulatory action in American history, and it will save the American people $1.3 trillion in crushing regulations.”
The EPA took a key step to axe the 2009 “endangerment finding” over the weekend by submitting the proposed rule to the Office of Management and Budget, the EPA press office told CNBC earlier in the day. The agency initially proposed rescinding it in July last year.
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Reuters – February 10, 2026
Shell CEO says oil major does not have to buy assets anytime soon*
Related: Shell casts doubt on net zero 2050 commitment — S&P Global Platts
Shell needs an acquisition or exploration breakthrough to make up for an expected production shortage of 350,000 to 800,000 boed by 2035, the company and analysts have said.
The Latest TERse Tips
U.S. Weighs Seizing Tankers Carrying Iranian Oil to Pressure Tehran — but using a strategy the White House directed at Venezuela is seen as likely to spark retaliation by Tehran and a surge in oil prices — The Wall Street Journal*
Life in Cuba Is Grinding to a Halt Under U.S. Oil Blockade — the island is in crisis as airlines cancel flights, hotels close and authorities furlough workers — The Wall Street Journal*
Capstone LLC Releases 2026 Energy Sector Outlook: Policy Tensions and Market Shifts to Shape Investment Landscape — see the brief
Forget ‘Friday Night Lights.’ This Photo Book Captures the True Permian Basin — Boom and Dust shows a different side of the oil industry—and looks pretty good on a coffee table — Texas Monthly*
Oil & Gas Texas
Houston Chronicle – February 10, 2026
Hawk Dunlap in the Republican primary for Railroad Commissioner*
It speaks volumes that Jim Wright, the chairman of the Railroad Commission, makes news when he recuses himself from voting on a permit for a company he has a financial stake in. Such is the state of affairs for one of Texas’ most important agencies, which, for years, has been reduced to a rubber stamp for the oil and gas industry. The agency, originally created in the late 19th century to regulate rates and operations of railroads, hasn’t had anything to do with railroads since 2005. Yet the Railroad Commission’s name has stuck by design. It’s easier to get away with ignoring its responsibility as the state’s oil and gas watchdog if the public doesn’t understand what they’re voting for. …
Of the three candidates we met with, we are confident that all of them would take the oversight responsibilities of Railroad Commissioner seriously and bring sorely needed accountability and transparency to the oil and gas industry. Dunlap’s industry experience sets him apart. He has the credibility and personality to thrive in this job. He certainly wouldn’t back down if he detects a whiff of conflict of interest from his fellow commissioners. And he has the know-how and experience to help the agency craft regulations that protect the environment and landowners without hurting the bottom line of oil and gas companies. Dunlap is our pick in the primary.
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The Wall Street Journal – February 10, 2026
U.S. Frackers Explore New Frontier: Shale Abroad*
American shale producers are in a midlife crisis: They know their best days of growth are behind them. Yet it’s too early to call it quits, with oil demand expected to keep growing for a while longer. Many have combined forces, and some are spending extra capital to squeeze the most out of the acreage they have left. More recently, they have started looking abroad for shale. In January, shale pioneer Harold Hamm’s Continental Resources made its second acquisition in Argentina’s Vaca Muerta shale play. The company also signed a deal to develop shale fields in Turkey. Another of the industry’s early movers, EOG Resources, last year got licenses to explore shale in the United Arab Emirates and Bahrain. These moves are notable because most pure-play U.S. producers have focused on drilling in their own backyard. In recent years only major oil companies such as Exxon Mobil and Chevron have maintained big footprints abroad.
Back in the early days of the shale boom around 2010, American producers explored going abroad, according to Rob Clarke, U.S. shale analyst at Wood Mackenzie, referring to this initial period as “Global Shale 1.0.” Shale is, after all, the most common sedimentary rock and found all over the world. But production in the Permian Basin was so prolific that companies quit exploration abroad. “One of the things that killed Global Shale 1.0 was the Permian,” Clarke said.
Times have changed, and conditions are now ripe for a phase that Clarke calls Global Shale 2.0. The Permian Basin is still a gusher, but the wells aren’t as prolific as they used to be. On average, Permian wells first drilled in 2016 in the Wolfcamp formation were estimated to produce 65 barrels per lateral foot drilled, according to Wood Mackenzie. Wells drilled last year are expected to produce 46 barrels per foot.
Frackers thus have fewer years of top-notch wells remaining. Large-cap North American producers on average hold about 7.5 years of high-quality shale drilling inventory, or those that generate 10% returns when the U.S. benchmark oil price is below $50 a barrel, according to Andrew McConn, research director at Enverus. Small and midcap producers fare worse, with an average of 2.5 years of high-quality shale inventory left.
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Oil Price – February 10, 2026
As U.S. Drilling Cools, Oilfield Service Firms Chase Middle East Demand
The U.S. shale revolution is widely considered one of the most significant energy, economic, and industrial transformations in American history. By combining horizontal drilling and hydraulic fracturing (fracking) to unlock massive oil and gas reserves from shale rock, the energy revolution reversed decades of declining production, transformed the U.S. into the world’s top oil and natural gas producer and a net exporter of oil while reshaping global energy markets.
The U.S. shale revolution more than doubled total U.S. petroleum and other liquids production, rising from 9.1 million barrels per day (bpd) in 2009 to nearly 23 million bpd in 2025, while natural gas production grew by over 40% to 37.72 trillion cubic feet (Tcf), or about 103.07 billion cubic feet per day (Bcf/d). Unfortunately, the era of hypergrowth production by the U.S. Shale Patch is over, with mature basins like the Permian experiencing declining productivity while oil executives are prioritizing shareholder returns over production growth, leading to reduced capital investment and a focus on drilling top-tier inventory. U.S. oil drilling activity has been in a steady, long-term decline, with the number of active oil-directed rigs dropping by over 30% from late 2022 to October 2025.
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Yahoo! News – February 9, 2026
San Angelo ranks second in Texas for oil and gas permits
The San Angelo area ranks second in Texas in permits to drill new oil and gas holes. According to the Texas Drilling Permit and Completion Statistics for January 2026, the San Angelo area (District 7C) received 83 permits to drill new oil and gas holes. Texas as a whole has 673 permits to drill new oil and gas holes and Midland (District 8) tops the chart with 397 permits.
The San Angelo area (District 7C) also had 112 new oil completions which was ranked second in the state, The state had a total of 582 new oil completions with Midland (District 8) toping the charts once again with 307 new oil completions.
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Forbes – February 10, 2026
Oklahoma Exits Cement Houston As America’s Oil And Gas Capital
Houston has long been recognized as the oil and gas capital of the United States, for good reason. Thanks to Texas’s early leadership in oil production and a welcoming regulatory and legal structure maintained by the state’s government, most major oil companies and large independent producers have long established and maintained a major presence in the city.
Houston’s longstanding status as a central refining hub along the Houston Ship Channel made it a natural gathering spot for industry leaders, creating a hub for dealmaking unrivaled by any other U.S. city. Even Chevron, long a holdout which maintained its corporate headquarters in the San Francisco area for more than a century, moved its own operations to Houston in 2024, in large part thanks to the increasingly hostile nature of California’s state government to its once-prominent oil and gas sector.
Oil & Gas National & International
The Wall Street Journal – February 10, 2026
BP Suspends Share Buyback Amid Overhaul*
BP suspended its share-buyback program and said it would reduce spending this year, part of a broader plan by the British energy giant to overhaul its business. The London-based company is in the early stages of a turnaround aimed at bringing the business back to its oil-and-gas roots after an ill-timed move into renewables that left it the least profitable of the major oil companies. BP said Tuesday that the moves to scrap its quarterly share buyback and curb capital expenditure were aimed at shoring up the company’s finances as it works to become a simpler, more profitable business.
Shares in BP were down about 4% in early afternoon trading in Europe. BP’s decision to halt buybacks illustrates a split among big energy companies. Exxon Mobil and Shell recently said they aim to keep buying back stock at the same pace as last year, while Chevron and France’s TotalEnergies have signaled they would slow purchases as oil prices weaken. Crude prices fell by nearly a fifth last year, before regaining ground in early 2026 amid heightened geopolitical tensions.
The last time BP didn’t launch a quarterly buyback was in 2020 during the early stages of the pandemic, when a sharp drop in prices prompted energy companies to preserve cash. Tuesday’s announcement represents a step change in the pace of BP’s efforts to strengthen its balance sheet, Chief Financial Officer Kate Thomson said in an interview. BP’s previous buyback was $750 million a quarter after being reduced from $1.75 billion in April.
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The Wall Street Journal – February 10, 2026
Treasury Allows U.S. Companies to Provide Supplies to Venezuela for Oil Production*
The Trump administration on Tuesday let U.S. companies supply Venezuela with equipment and technology needed to boost the country’s oil production. The Treasury Department issued a new general license allowing transactions by U.S. entities to supply “goods, technology, software, or services for the exploration, development, or production of oil and gas in Venezuela,” according to the Treasury’s Office of Foreign Assets Control. The license lets U.S. oil-field services companies like Halliburton and SLB to work in the country.
While the license covers some supply-related transactions, the U.S. is still expected in the near future to offer broader licenses allowing more American oil companies to invest and drill in the Latin American country. President Trump has urged U.S. oil companies to plow $100 billion into Venezuela to revamp its dilapidated oil industry and has been speaking with American oil companies about loosening restrictions the U.S. had put in place to pressure the government of Nicolás Maduro in recent years.
American oil companies thus far have said they see opportunities in pumping Venezuela’s oil but first want to see a host of changes to the country’s legal system and enhanced security following Maduro’s ouster. The Treasury’s license limits certain payment terms with the government of Venezuela and doesn’t allow transactions involving entities in Russia, Iran, North Korea, Cuba or China, among other restrictions. The license’s authorizations apply to U.S. companies generally.
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The Wall Street Journal – February 10, 2026
The Saudi Crown Prince Taps the Brakes: Karen Elliott House*
These are tough times for Crown Prince Mohammed bin Salman. Some of his grandiose projects are being scrapped as unworkable and unaffordable with oil prices around $65 a barrel. The risk of a U.S. war with Iran puts all his other big developments—and the oil that funds them—at risk of retaliation. And the death of his elderly, infirm father, King Salman, could soon bring succession issues to the fore. Ordinary Saudis, royals and officials close to Crown Prince Mohammed told me during a two-week visit to Riyadh that he understands he moved too fast and created inefficient spending. He is now focused on smarter budgeting and less government debt.
For an American accustomed to President Trump’s daily TV appearances and nightly social-media posts, it’s striking that the crown prince doesn’t speak publicly to his citizens. To him, actions speak louder than words. While Mr. Trump has done scores of interviews in recent months, the crown prince hasn’t given one in more than a year. His finance minister is left to explain the closing of big projects like Neom, a 105-mile-long city, or the Mukaab, a 1,300-foot cube-shaped skyscraper resembling the Kaaba shrine in Mecca. An out-of-this-world project, the Mukaab was to feature a swirling observation tower with restaurants and holographic projections to transport the viewer to other times and places. Conservatives said the Mukaab denigrated the Kaaba; others objected to its cost as the centerpiece of a $50 billion development in Riyadh.
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Inside Climate News – February 7, 2026
MethaneSAT Releases First Global Assessment of Oil and Gas Climate Pollution
MethaneSAT, the world’s most advanced methane-detecting satellite and first spacecraft owned by an environmental nonprofit, promised to usher in a new era of climate accountability when the device entered Earth’s orbit in 2024. One year later, researchers with the Environmental Defense Fund (EDF) lost contact with the $88 million satellite, but not before downloading a trove of data collected over the prior year. Now, an initial assessment of data shows that methane emissions from oil and gas basins worldwide far exceed what is reported in official emissions inventories and fall short of targets set by major companies.
The early look at MethaneSAT’s system-wide analysis, published on Feb. 2, includes 45 oil and gas producing regions, which account for half of the world’s onshore oil and gas production. Measurements were collected for just over a year, from May 2024 to June 2025.
Utilities, Electricity & Renewables
Dallas Morning News – February 10, 2026
‘Send it somewhere else’: Locals decry proposed transmission lines near Texas state park*
Greg Marsh starts his mornings early, brewing his cup of coffee and taking a seat at the dining room table while it’s still dark out. He likes to watch the sun illuminate the sky and rocky, rugged horizon, as birds sing and splash around in the stone birdbaths inches from his back window. Bluebirds are his favorite. For nearly 20 years, the 79-year-old has enjoyed his front-row seat to wildlife thriving throughout the hundreds of acres of land he ― and three generations before him ― have stewarded.
It’s a sentimental place where Marsh can still picture his great-grandad working the land with a mule and horse as cattle roamed. The property has changed since then: There aren’t any more cows and not nearly as much farming, but Marsh has given the land a new purpose in recent years, working with help from wildlife agencies to support the endangered golden-cheeked warblers’ migration and nesting patterns.
It also now shares two fence lines with beloved Dinosaur Valley State Park near Glen Rose, a protected 1,500-acre swath of land that’s a roughly 90-minute drive from downtown Dallas. First opened in 1972, it has attracted as many as 250,000 visitors annually in recent years. Here, in Texas’ second-smallest county, is the setting for a new kind of Texas land war — one pitting rural residents such as Marsh against the powerful interests of power companies.
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Covering Katy – February 10, 2026
Texas regulators agree to review Katy’s rejection of battery storage facility
The Texas Public Utility Commission is expected to take up the case of Ochoa Energy Storage’s application to build a 500-megawatt Battery Energy Storage System facility in Katy in August, Katy City Attorney Bridgette Biget said Monday. The commission will review the case at its Austin headquarters.
Ochoa applied to build the facility, known as BESS, at 27501 Highway Blvd. But in October 2024, the Katy City Council rejected a special use permit needed under local law. Council members said they had concerns about safety and the facility’s location near Katy High School and residential areas. Ochoa is asking state regulators for a declaratory order against the city that would allow the project to move forward despite this special use permit rejection by the Katy City Council.
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S&P Global Platts – February 10, 2026
Mexico accelerates private power partnerships; industry upbeat but wary on contracts
The Mexican government is moving to accelerate private-sector participation, laying out details and conditions for partnerships to build 6.5 GW of clean electricity generation capacity by 2029, sparking optimism in the industry, but also plenty of questions.
The country needs 3.5 GW of new solar power capacity and 2.85 GW of wind power, according to a presentation given to potential players and stakeholders on Feb. 6. The presentation was given by top officials from the state utility, CFE, and the energy ministry to over 300 attendees, according to people who were present. The government is asking interested parties to register to participate by Feb. 20, according to the presentation, seen by Platts, part of S&P Global Energy.
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Politico – February 10, 2026
White House eyes data center agreements amid energy price spikes
The Trump administration wants some of the world’s largest technology companies to publicly commit to a new compact governing the rapid expansion of AI data centers, according to two administration officials granted anonymity to discuss private conversations. A draft of the compact obtained by POLITICO lays out commitments designed to ensure energy-hungry data centers do not raise household electricity prices, strain water supplies or undermine grid reliability, and that the companies driving demand also carry the cost of building new infrastructure.
The proposed pact, which is not final and could be subject to change, is framed as a voluntary agreement between President Donald Trump and major U.S. tech companies and data center developers. It could bind OpenAI, Microsoft, Google, Amazon, Facebook parent Meta and other AI giants to a broad set of energy, water and community principles. None of these companies immediately responded to a request for comment.
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Reuters – February 10, 2026
Rising US industrial load intensifies power generation need*
Oil and gas remains a key driver of industrial power demand and companies continue to seek efficiencies from electrification. Total U.S. electricity sales to large customers are on the rise after decades of flat or declining load, due to rising demand from data centers and the oil and gas sector as well as some specific manufacturing sectors such as semiconductor and battery production, Ben Levitt, Associate Director, North America Power and Renewables Research, S&P Global Energy, told Reuters Events.
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Utility Dive – February 6, 2026
Xcel Energy pursuing large load tariffs in 4 states amid data center growth
Xcel Energy announced partnerships with NextEra Energy and GE Vernova on Thursday as it seeks to speed its development of new generation to serve growing data center interest. With a newly signed deal in the Upper Midwest, Xcel Energy now has more than 2 GW of contracted data center capacity in queue, and expects to sign another gigawatt of capacity in 2026, CEO Bob Frenzel said during an earnings call Thursday.
But the real potential, he said, is in the company’s long-term opportunities. Xcel now expects to have 6 GW of contracted data centers in queue by 2027 — twice what it anticipated last October. Even greater growth may be possible beyond 2030, when Frenzel said he expects the largest data centers to come online.
Regulatory
Grist – February 10, 2026
Trump Will Order Defense Department to Buy Coal Power
President Donald Trump plans to announce an executive order on Wednesday directing the U.S. Department of Defense to buy electricity from coal-fired power plants. The order, first reported by The Wall Street Journal and confirmed by a White House official, comes as the administration plans to repeal the endangerment finding, a landmark climate ruling that determined greenhouse gases pose a threat to public health.
“President Trump will be taking the most significant deregulatory actions in history to further unleash American energy dominance and drive down costs,” White House press secretary Karoline Leavitt said in a written statement. Environmental and security advocates blasted the order.
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Texas Energy Report NewsClips
Tuesday February 10, 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
Top Stories
Reuters – February 9, 2026
Shell needs big discovery or deals as oil, gas reserves dwindle*
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February 9, 2026
We recommend in the Republican primary for Railroad Commissioner: Dallas Morning News*
Related: Texas Railroad Commission primary: Who is running and what to know — Texas Tribune
For too long, the Texas Railroad Commission has been criticized for essentially being in the hands of the oil and gas industry it is supposed to regulate. There are well-documented examples that reveal that the state agency basically operates a rubber-stamp system. This is why it was refreshing that three of the candidates in the Republican primary for Railroad Commissioner were concerned about conflicts of interest at the agency and the need to rebuild trust. From this group, we recommend Katherine Culbert, a process safety engineer, as having the best credentials for this agency and for her commitment to transparency.
Culbert, 50, told us she likes to look at things with a preventive eye to make sure workers and communities are protected. Orphan wells are an example of how the agency is not doing enough, she said. “When a plugged well leaks, the Commission needs to take responsibility for the well, no matter the history,” she wrote in the Voter Guide. “It does not benefit Texans to have the Railroad Commission turning away from helping landowners because of an old well that is not on the books.”
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pv magazine – February 9, 2026
ERCOT BESS interconnection applications drop 50% in H2 2025 as faults in the boom emerge
Texas nearly doubled its battery fleet in 2025, with 6 GW of new capacity coming online to total 13.9 GW and 22.9 GWh of operational grid-scale BESS capacity in early 2026, according to data from market research firm Modo Energy’s ERCOT Annual Buildout Report. It’s a record. The Electric Reliability Council of Texas’ (ERCOT) interconnection process is fast, but that makes it fragile. According to Ovais Kashif, a US West research lead at Modo Energy, much of last year’s buildout reflects much older decision making.
“The record capacity delivered in 2025 came from projects financed three to five years ago, when battery revenues were much higher,” Kashif told ESS News. Now, the market remains more vulnerable to political shocks and the timeline after construction has remained the same for the past five years. As a result, he said, new interconnection applications in H2 fell 50% compared to H1, due to political hurdles like the loss of tax credits.
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Politico – February 9, 2026
Poll shows Democrats hold edge over Trump in energy cost battle*
Slightly more Americans think Democrats, not Republicans, are the party most committed to reducing energy prices, a new POLITICO poll has found — yet another sign of potential trouble for President Donald Trump and the GOP on the issue of affordability. Thirty-seven percent of U.S. adults believe Democrats care more about protecting them from spiking natural gas, heating and utility bills, compared with 25 percent who believe Republicans do, according to the poll of 2,093 people conducted by Public First on behalf of POLITICO.
While far short of a majority, the edge for Democrats on the question is striking given the decades that surges in fuel costs have tormented nearly every Democratic president since Jimmy Carter, giving Republicans a message to hammer at election time. As recently as late 2024, polls showed most voters trusting Trump over Kamala Harris to shepherd the economy. But those tides may be turning, amid signs that stubbornly high — and rising — heating and electricity costs in much of the country could endanger Republicans’ slim four-seat lead in the House in the November elections. Trump has tried to quash unrest over skyrocketing electricity bills, which have soared despite his vow to slash energy costs in half during his first year in office.
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The Latest TERse Tips
Constellation said Monday that Calpine LLC, a business unit of Constellation, signed a new 380-megawatt agreement with Dallas-based CyrusOne, a “leading global data center developer and operator,” to connect and serve a new data center adjacent to the Freestone Energy Center, in Freestone County — see the press release
With a potential for over $40 billion in spending over the next 10 – 15 years for new and upgraded transmission lines, Texans for Affordable Transmission has stepped forward to advocate for more affordable transmission infrastructure — see the press release
One Texas family is doing something unusual: raffling off 100-acres of their mineral rights for the price of a cup of coffee — KXAN
When Congress moved last week to slash federal funding for electric vehicle charging stations, the cuts fell hardest on red states — E&E News By Politico*
Cuba says international airlines can no longer refuel there as Trump turns up the pressure — CNBC
South Korea’s LG Energy Solution on Friday said it plans to buy the 49% stake held by Stellantis in their battery joint venture in Canada for the nominal amount of $100 (correct) — Reuters*
Oil & Gas Texas
E&E News By Politico – February 9, 2026
Longtime Exxon lawyers retreat from oil company’s climate cases
The law firm that has helped Exxon Mobil notch significant victories in its battle against climate lawsuits from local governments has pulled out of at least four of the court fights. Exxon and Paul, Weiss, Rifkind, Wharton & Garrison attorneys this month notified courts in Connecticut, Hawaii, Maine and Washington state that the firm would no longer represent the oil giant as it fights efforts by governments and individuals in those states to hold the oil and gas industry financially accountable for climate change.
The filings did not elaborate on the reasons for the moves, but noted lawyers from other firms would remain as counsel. While rare, withdrawals from cases are not unheard of and can be made by either attorneys or clients for various reasons. Paul, Weiss attorneys continue to represent Exxon in a number of other climate cases, including a longstanding challenge from Massachusetts. The moves came at the same time as the chair of Paul, Weiss stepped down last week amid fallout over his email exchanges with the late sex trafficker Jeffrey Epstein.
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Houston Chronicle – February 9, 2026
Expand Energy to move headquarters to Houston as CEO steps down*
Expand Energy, the largest independent natural gas producer in the U.S., is moving its headquarters to Houston later this year. Formerly known as Chesapeake Energy, the $26 billion gas giant joins a growing list of oil and gas companies – including energy giants Exxon Mobil, Chevron, and Devon Energy – moving to Houston to take advantage of the close proximity to LNG export terminals, fellow industry executives and global counterparts’ U.S. offices. The move to Houston is expected in mid-2026 and will primarily involve the leadership team, the company said Monday in a news release.
The relocation allows the company “to capitalize on Houston’s leading role as a gateway to the global natural gas market,” Expand’s Chairman Michael Wichterich said in a statement. “As North America’s largest natural gas producer, this will accelerate our strategy to provide affordable, reliable, lower carbon energy to growing domestic and global markets,” Wichterich said. Expand also announced Monday the company’s Chief Executive Domenic Dell’Osso would step down. No reason for Dell’Osso’s departure was given.
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Reuters – February 9, 2026
Chevron’s Tengiz oilfield back to 60% of usual output, two sources say*
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Texas Monthly – February 5, 2026
Oil Binds Venezuela’s Future to Texas. Will It Help My People Buy Our Freedom?*
Trump and his administration seem content, for now, to leave the dictatorship in place, only with Delcy Rodríguez at the top. She was Maduro’s cunning vice president and the engineer of a recent softening of Venezuela’s stance toward U.S. oil interests. She’s been working with Houston-based Chevron for a while, and last July she negotiated a license renewal with the Trump administration that allowed Chevron to resume producing and selling Venezuelan oil.
Rodríguez and others in the former Maduro regime are experts at buying time. Their game now is proving to Trump that the only way to retain order in Venezuela, the only way to start oil flowing again, is to keep them in charge. The regime controls the military; it controls the informal, weaponized gangs, called colectivos, that have served as the government’s intimidation arm; and it also controls the Mafias that have infiltrated all of Venezuela’s resource industries and run the black market resource economy.
For my other home, Texas, this situation is all upside. Because of our proximity to Venezuela through the Gulf and the Caribbean, our state has always been a natural trading partner. For decades before the Maduro regime came to power, Gulf oil refineries invested billions of dollars in technology to process the type of heavy crude that’s abundant in Venezuela. When that trade trickled down to almost nothing—because of the regime’s ineptitude and corruption, and then the sanctions Trump’s first administration began imposing in 2017—those refineries had to pivot to much more expensive and less plentiful supplies, mostly from Canada. From Port Arthur to Corpus to Galveston Bay, Texas refineries are licking their chops at the prospect of a Venezuelan oil bounce back.
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Beaumont Enterprise – February 9, 2026
Midland County seeks tips in series of crude oil thefts*
The Midland County Sheriff’s Office and Midland Crime Stoppers are requesting assistance in helping to solve multiple crude oil thefts across the county. According to a social media post by Midland Crime Stoppers, approximately 150 to 400 barrels of crude oil have been stolen from various companies and tank battery locations since December 2025.
“Unfortunately, cameras have not captured the suspect, so investigators are relying on the community,” Midland Crime Stoppers said. Crime Stoppers is offering a cash reward of up to $1,000 for information leading to the arrest or charges of those responsible for the thefts. To be eligible for a reward, a tip must be submitted through the Crime Stoppers hotline, mobile app or website. Law enforcement must act on the tip for an arrest to be made, or the case must be cleared. Tips submitted through other avenues are not eligible. No caller identification is ever used and the caller will remain anonymous.
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Fox News – February 9, 2026
Fracking is science, but not a dark one. To date, there have been about 2,000,000 frack jobs in the U.S. My company alone has done thousands of them without incident. Yet, the public has been slow to catch on, or is suspicious, or distrusting. That is mostly a byproduct of the culture wars and the rich deceiving the poor, but more on that below.
By process, rock mechanics determine the pressure needed to fracture an oil and gas formation. Completions engineers use that data to calculate fracture pressure and propagation, the amount of frac slurry required, and at what rate it should be pumped. A frack company then mobilizes on-site alongside a wireline company. Wireliners isolate the wellbore a few hundred feet at a time into “stages,” shooting 20 or 30 holes through the casing and then pull off. The frac fleet starts in with a mix of water, sand and chemicals that they pump down the vertical section of the wellbore, a mile or two deep, and then out into the horizontal section for another two, three, or four miles. Most shales are pumped at 3,800 gallons per minute against surface pressures of 10,000+/- psi.
Oil & Gas National & International
Oil Price – February 8, 2026
Big Oil’s Merger Boom Is Being Driven by a Surprisingly Small Club
The oil and gas sector is continuing to consolidate after years of ‘merger-mania’, with ramifications for the entire energy sector and wider economy. But a recent report reveals that the spate of mergers and acquisitions that has characterized the fossil fuels industry over the last decade is not as widespread as it may seem, but rather concentrated among a few key players.
A newly released report from the consulting firm Bain & Co found that, within the oil and gas sector, “fewer companies are doing more of the deals and creating more of the value.” In fact, over the last ten years, just 20 companies were responsible for 53% of total deal value when it comes to mergers and acquisitions within the sector.
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Oil Price – February 8, 2026
The U.S. LNG Boom Is Lowering Europe’s Energy Costs and Raising America’s
The United States has cemented its position as the world’s leading exporter of Liquefied Natural Gas (LNG) over the past couple of years, thanks to surging natural gas demand in Europe and Asia. U.S. LNG exports hit a record 111 million tons in 2025, surpassing 100 million metric tons for the first time, driven by high utilization and new capacity additions from projects like Plaquemines LNG.
But this could be just the beginning of the U.S. LNG boom: the EIA has predicted that U.S. LNG export capacity will more than double by 2029, with an estimated 13.9 Bcf/d of new capacity added between 2025 and 2029 as projects like Plaquemines LNG Phase 1 and Corpus Christi Stage 3 reach full operations. Meanwhile, additional projects such as Delta LNG, CP2 LNG, and others are expected to further bolster capacity toward 2030.
Utilities, Electricity & Renewables
Houston Chronicle – February 9, 2026
TotalEnergies enters Texas AI power race with massive Google deal*
French oil major TotalEnergies plans to power Google’s Texas data centers with solar farms, staking its flag in the energy industry race to cash in on the state’s artificial intelligence power boom. Total’s solar agreement, announced Monday, stands out from a growing trend among oil and gas companies to nab lucrative power deals by promising the fastest developments — even if it means postponing the implementation of renewable options they’ve heavily invested in over the last few years.
Total, whose American headquarters is in Houston, said it agreed to deliver 1 gigawatt of capacity, enough to power 250,000 homes for one hot summer day in Texas. Marc-Antoine Pignon, Total’s vice president for U.S. renewables, said the deals mark the largest renewable power purchase agreements the company has ever signed in the United States. “This highlights TotalEnergies’ strategy to deliver tailored renewable energy solutions that support the decarbonization goals of digital players, particularly data centers,” Pignon said in a statement.
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Canary Media – February 9, 2026
Green hydrogen hype has dried up. This US startup is pressing on.
It’s a tough time for U.S. companies trying to make a go of green hydrogen. The Trump administration is threatening to cut billions of dollars in funding for hydrogen hubs and rapidly phasing out key tax incentives for the fuel. Major projects are getting canceled. Companies banking on the sector are struggling. And the wholesale abandonment of U.S. climate policy has undermined confidence in market prospects for low-carbon hydrogen that were already shaky before President Donald Trump won a second term.
Even so, Raffi Garabedian, CEO of U.S.-based electrolyzer manufacturer Electric Hydrogen, sees a path forward for his firm — and the industry as a whole.
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PV Tech – February 9, 2026
Electricity demand to grow rapidly in ‘new era’ for energy, says IEA
Global electricity demand is set to grow 2.5 times as fast as overall energy demand by 2030, ushering in what the International Energy Agency (IEA) has dubbed the “Age of Electricity”. The increase in electricity demand will be driven by electrification in the transport, industrial and building sectors, as well as the growth of data centres and AI. New AI and data centre industries mean that electricity consumption from advanced economies is “rising after 15 years of stagnation”, the IEA said, and wealthy nations are set to contribute around one-fifth of increasing power demand by 2030.
“A fundamental shift in the longstanding relationship between electricity demand and economic activity” will be “a defining feature” of the next four years, the IEA said in its Electricity 2026 report. The resurgence of demand growth in advanced economies “signals a new era in which electricity is a major energy input to some of the most dynamic drivers of global economies, such as AI, data centres and advanced manufacturing,” the report said. Both the US and EU are expected to see an average annual electricity demand increase of around 2% through 2030, and around half of demand growth in the US is set to come from data centre expansion.
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Reuters – February 9, 2026
Rising US industrial load intensifies power generation need*
As data centers spearhead a surge in demand for new power generation in the United States, rising demand from industrial manufacturing is also creating opportunities for developers. U.S. peak power demand is forecast to rise by 120 GW over the next five years, of which industrial consumption will account for about 24 GW, according to analysts at ICF. Oil and gas remains a key driver of industrial power demand and companies continue to seek efficiencies from electrification.
Total U.S. electricity sales to large customers are on the rise after decades of flat or declining load, due to rising demand from data centers and the oil and gas sector as well as some specific manufacturing sectors such as semiconductor and battery production, Ben Levitt, Associate Director, North America Power and Renewables Research, S&P Global Energy, told Reuters Events.
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Utility Dive – February 6, 2026
Utilities face cost-recovery risk as infrastructure costs, demand rise: Morningstar
Electric utilities are preparing for a major infrastructure buildout to meet growing demand while the cost for key transmission and distribution equipment is rising, sparking cost-recovery concerns, according to a brief released Wednesday by Morningstar DBRS. AI data centers are driving demand growth forecasts, but are also leading to inflation in the cost of the metals and grid-critical materials that are used in data centers, analysts with the credit ratings agency said in the brief, Beyond Power Demand: How AI-Driven Metals Inflation Is Testing Utility Regulation.
“For regulated utilities, this dynamic represents a shift from a pure demand-growth narrative toward a system-cost stress test, where rising capital intensity, regulatory recovery mechanisms, and customer affordability increasingly intersect,” the Morningstar analysts said.
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News from the States – February 5, 2026
With electricity bills rising, some states consider new data center laws
As Americans grow increasingly frustrated over their electricity bills, states are trying to keep the nation’s growing number of data centers from causing higher energy costs for consumers. For years, many states competed aggressively to land data centers, sprawling campuses full of the computer servers that store and transmit the data behind apps and websites. But many officials are now scrutinizing how those power-hungry projects might affect the electric bills of households, small businesses and other industries.
Oregon last year became one of the first states to enact a law requiring utilities to charge data centers different electric prices than other industries because of how they drive up the cost of energy production and transmission.
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The Hill – January 23, 2026
Coal by decree is not an energy strategy: Brian C. Murray, Duke University
In the middle of President Trump’s first term, a tale of two power plants reflected the nation’s seemingly irrevocable course of turning from high carbon dioxide-emitting coal to non-emitting nuclear and renewables. In Arizona, the Navajo coal-fired power plant closed in November 2019, despite efforts by the first Trump administration to keep it open.
The administration tried forcing the federally constructed but locally-run Central Arizona Project to purchase Navajo’s power and even sought a private buyer for the plant. But the numbers just didn’t pencil out — it was too expensive to operate, the private deal fell through, and the project got its power elsewhere.
Regulatory
Politico – February 7, 2026
BLM sets date for March oil lease sale in Alaska*
The Trump administration will offer 5.5 million acres on Alaska’s North Slope for oil and gas leasing, opening up a huge expanse of public land where Democratic administrations previously sought to restrict development. The Bureau of Land Management scheduled a lease sale for March 9 in the National Petroleum Reserve-Alaska (NPR-A), a 23-million-acre preserve in northern Alaska that is home to caribou and migratory birds.
The sale by the Interior Department agency is mandated by last year’s Republican megalaw, which requires five sales in the NPR-A by 2035. Bids for the upcoming sale must be received by 4 p.m. Alaska time on March 5, according to a Federal Register notice set to be published Friday. “The National Petroleum Reserve in Alaska plays a vital role in advancing America’s energy independence, and Congress has repeatedly made clear their intent for timely leasing and responsible development in the region,” acting BLM Director Bill Groffy said in a statement Thursday.
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Texas Energy Report NewsClips
Monday February 9, 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 fell on Monday after the U.S. and Iran pledged to continue talks over the Middle Eastern producer’s nuclear programme, easing concerns about a possible conflict that could disrupt supply from the region.
West Texas Intermediate crude CLc1 was at $63.13 a barrel, down 42 cents, or 0.66%, following a 26-cent gain at Friday’s settlement.
Brent crude futures LCOc1 fell 49 cents, or 0.72%, to $67.56 a barrel by 0134 GMT after settling up 50 cents on Friday.
“Crude oil has eased in early trading this week, with the market breathing a sigh of relief over the constructive U.S.-Iran nuclear talks in Oman,” IG market analyst Tony Sycamore said.
“With more talks on the horizon the immediate fear of supply disruptions in the Middle East has eased quite a bit.”
Iran and the U.S. pledged to continue the indirect nuclear talks following what both sides described as positive discussions on Friday in Oman despite differences. That allayed concerns that failure to reach a deal might nudge the Middle East closer to war as the U.S. has positioned more military forces in the area.
Top Stories
Politico – February 6, 2026
Oil money flows to Cornyn in Texas primary
In the GOP primary battle to retain his seat, Texas Sen. John Cornyn is getting a financial boost from the oil and natural gas industry. The incumbent, who’s seeking a fifth term in the Senate, raised at least $220,000 last year from people and corporate political action committees in the oil and gas sector, an analysis of campaign finance records shows. That’s ahead of the $157,000 that his main GOP primary rival, Texas Attorney General Ken Paxton, has brought in from oil and gas in the midterm election.
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Bloomberg – February 7, 2026
As Trump remakes the global oil market, Exxon and Chevron want in*
Exxon Mobil Corp. and Chevron Corp. are setting their sights on expanding production in nations tied to OPEC, including some of the world’s riskiest geopolitical hotspots, as President Donald Trump’s assertive foreign policy helps them strike deals. Venezuela, home to the world’s largest reserves, is the most high-profile opening of a nation that had been mostly off-limits to US investors after Trump captured former leader Nicolas Maduro and took control of the country’s crude exports.
But the US is also backing Exxon and Chevron as they negotiate in Iraq, Libya, Algeria, Azerbaijan and Kazakhstan, according to public announcements and people familiar with the talks who asked not to be identified discussing confidential meetings. The US oil majors’ international forays are the latest example of how Trump has upended the norms of the ways American corporations do business, especially in industries he favors, like manufacturing, fossil fuels and cryptocurrency. While Europe’s oil majors — Shell Plc, TotalEnergies SE and BP Plc — are also seeking to expand in the Middle East, the US government support gives Exxon and Chevron a competitive edge.
“You have US ambassadors out there stumping on behalf of companies,” said Samantha Carl-Yoder, a former senior State Department official who helped US companies expand overseas under President Barack Obama and during Trump’s first term. “They’re running with it in a way that just didn’t exist under prior administrations, even Republican ones.” While the major oil producers have operated within OPEC+ countries for decades, opportunities for new projects have been limited due to state control of their oil industries, tough contract terms and political instability. In recent years, the US majors preferred to grow their shale businesses in the US, helping America overtake Saudi Arabia as the world’s biggest producer in 2018.
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Reuters – February 6, 2027
Rival bidders pursue Lukoil assets despite Carlyle deal, sources say*
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KWES – February 7, 2026
From oilfield water to battery power: Midland opens first U.S. Lithium Carbonate Facility in decades
A new lithium carbonate facility opened Friday in Midland, marking the first such operation in the United States in decades and highlighting how the Permian Basin’s oil and gas byproducts are being repurposed to support emerging energy technologies. Texas Gov. Greg Abbott joined state, federal and industry leaders for a ribbon-cutting ceremony at the Element3 Resources Permian Basin Lithium Extraction and Carbonate facility, located along Farm-to-Market Road 715.
The facility extracts lithium carbonate from produced water — the water brought to the surface during oil and gas operations — transforming a long-standing byproduct of drilling into a material essential for batteries and energy storage systems. … Unlike traditional lithium mining, which can require years of permitting and construction, Element3’s process works alongside existing oil and gas infrastructure. Company leaders say that approach reduces development time while keeping production rooted in regions already familiar with energy operations.
The Latest TERse Tips
Texas Job Growth Expected to Rebound Slightly in 2026, Dallas Fed Says — Ft. Worth Inc.
TXNM Energy announced that the Public Utility Commission of Texas approved a unanimous settlement allowing Blackstone Infrastructure to acquire TXNM Energy’s Texas utility, TNMP, finding the deal in the public interest — key terms include $45 million in rate credits to customers, governance and local oversight, dividend restrictions, financial protections and ring-fencing, workforce protections, and a commitment to fund the company’s 5-year capital expenditure plan — Stock Titan
Heritage Resources founder Michael Bush Wisenbaker Sr. has passed away at 80 — see his obituary here
Europe’s chemical industry is facing a wave of plant shutdowns and a sharp investment slowdown — industry leaders warn the trend threatens the region’s industrial base, and could reverberate through more downstream sectors, including polyurethanes — Plastics News
Milwaukee-based WEC Energy Group is adding $1 billion to its 5-year capital spending plan to meet additional demand from Microsoft’s expansion of its data center campus in Mount Pleasant — Milwaukee Business Times
Colombia on Tuesday blasted Ecuador’s decision to hike up transportation fees for Colombian oil, calling the move an act of “aggression,” as a trade war between the two Andean nations intensifies — Associated Press
The Council on Foreign Relations says the AI Bubble Is Getting Closer to Popping — AI’s success or failure will depend on whether it can start to show the worth of massive investments. And today, the Trump administration’s tariffs and immigration policies are a big part of what’s holding back U.S. models and companies — CFR
Oil & Gas Texas
Oil Price – February 6, 2026
US Oil Drillers Add Rigs Even in Price Uncertainty
The total number of active drilling rigs for oil and gas in the United States rose by 5 this week, according to new data that Baker Hughes published on Friday, bringing the total rig count in the US to 551 this week, down 35 from this same time last year. The number of active oil rigs rose by 1 to 412 during the latest reporting period, according to the data. This is 68 below this same time last year. The number of gas rigs rose by 5, reaching 130, which is 30 more than this time last year. The miscellaneous rig count slipped by 1 and now is at 9.
The latest EIA data showed that weekly U.S. crude oil production fell again this week, by 481,000 bpd in the week ending January 30, to 13.215 million bpd on average, 647,000 bpd under the all-time high.
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Inside Climate News – February 8, 2026
More than 500 enormous oil tanks dot the floodplains of the Guadalupe River and its tributaries where they cross one of Texas’ leading oilfields, an Inside Climate News investigation has found, posing risk of an environmental disaster.
Longtime residents of these historic ranchlands still remember the last time these plains filled up with water in a biblical inundation in 1998. That was before the fracking boom hit this region and the oil-rich geological formation that lies beneath it, known as the Eagle Ford Shale. Today, a repeat of the historic flood could wreak havoc, locals worry.
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Houston Chronicle – February 6, 2026
Houston-based Sable Offshore receives federal subpoenas as insider trading allegations mount*
Federal regulators are investigating the embattled Houston oil company Sable Offshore over allegations its chief executive shared insider information, the company said Tuesday in filings with the Securities and Exchange Commission. The federal probes pertain to “issues raised” in October by Hunterbrook, which published leaked audio and group messages that appear to show Sable’s CEO Jim Flores discussing undisclosed financial filings and prospects with a select group of investors.
The company said it received subpoenas from the SEC and the U.S. Attorney’s Office for the Southern District of New York in December. The company was asked to turn over documents related to the alleged sharing of insider information, general stock trading, and other unspecified issues. Sable said in a Tuesday filing that it was “cooperating” with the requests, which could result in both civil and criminal penalties. Sable did not return requests for comment. It said in November that it would internally investigate the allegations.
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Midland Reporter-Telegram – February 7, 2026
Texas pumped 124M barrels of oil in November as Midland area dominates*
The Railroad Commission has issued its preliminary crude oil and natural gas production figures for November 2025. Preliminary figures, based on production volumes reported by operators, indicate 124,149,657 barrels of oil (4,138,321 barrels per day) in November. Updated figures for November 2024 indicate crude production was 143,764,045 barrels.
Preliminary figures show Texas wells produced 1,002,396,104 Mcf (33,413,203 Mcf per day) of natural gas. The updated November 2024 total was 1,082,479,452 Mcf. Production came from 157,813 oil wells and 83,966 gas wells. The Midland area continued to dominate state oil production, and once again it wasn’t even close. Martin County was the top oil producer with 20,755,579 barrels.
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Rigzone – February 7, 2026
Phillips 66 to Cut Nearly 300 Jobs as LA Refinery Shuts
Phillips 66 will lay off around half of its employees at its sole remaining oil refinery in California after shuttering operations. The Houston-based company said it will cut 122 employees effective April 3 at two facilities in Carson and Wilmington that make up the company’s Los Angeles refinery, according a notice filed Monday with California’s employment regulator. This follows a separate notice last month that 155 employees will be terminated at the refinery in December, bringing the total to 277.
The century-old refinery employs about 600 staff, according to Phillips 66’s website. The fuel-making plant has been slated to close since 2024 and the facility, once capable of processing 139,000 barrels of oil a day, refined its final barrel of crude in late 2025. Another Texas-based refiner, Valero Energy Corp., is also cutting more than 200 jobs in California this year as it idles a San Francisco Bay Area plant.
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Midland Reporter-Telegram – February 7, 2026
Battalion Oil shifts gas processing after Wink outage, boosts output
Delaware Basin-focused Battalion Oil recently announced several operational updates regarding both its gas treating arrangements and production performance. The Houston-based company has terminated its gas treating agreement with Wink Amine Treater LLC related to its acid gas injection facility. Battalion has also entered into a gas treating agreement with a publicly traded large-cap midstream company it declined to name.
In announcing the changes, Battalion management noted that the Wink Amine Treater AGI facility had ceased operations around Aug. 11, 2025, and remains out of service. This prompted the company to exercise its contractual rights to terminate the gas treating agreement.
After terminating its contract, Battalion reached an agreement with the large-cap midstream provider to process its gas at an alternative processing facility. The company had been using this midstream partner since Wink’s AGI facility went offline. After a significant facility expansion was completed in the fourth quarter of 2025, the midstream company is now able to process substantially all of Battalion’s gas volumes from its Monument Draw field.
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Oil & Gas National & International
Bloomberg – February 7, 2026
Hedge Funds Hike Bullish Oil Bets to 10-Month High on Iran Risks*
Hedge funds turned the most bullish on Brent crude since early April as traders hedged against the risk of a military conflict between the US and Iran and potential supply disruptions from the OPEC member. Money managers increased their net-long stance on Brent crude by 31,332 lots to 278,249 lots in the week ended Feb. 3, the highest in nearly 10 months, data from ICE Futures Europe show. Bullish bets on US West Texas Intermediate oil also rose to a six-month high, according to the Commodity Futures Trading Commission.
Persistent tensions between the US and Iran have driven investors to raise bullish bets on both benchmarks for four consecutive weeks. The two countries appeared to square off at sea and in the air on Tuesday, reviving a risk premium that eventually ebbed as plans for nuclear talks took shape. The sustained bullishness was also reflected deeper within the options market and beyond. WTI bullish call options settled at their biggest premium to bearish puts since 2022 at one point this week, while a major oil-linked exchange-traded product saw its biggest inflow since 2020.
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Politico – February 7, 2026
Democrats urge EU to defy Trump on oil and gas rules*
Lawmakers have urged European Commission President Ursula von der Leyen to resist Trump administration pressure to water down pollution rules for the oil and gas sector. In a letter, shared with POLITICO, 24 members of the House and Senate said ceding to demands from the Department of Energy to exempt American oil and gas from a regulation aimed at clamping down on methane pollution “would be a misguided approach.”
The signatories were all Democrats and were led by Rep. Scott Peters and Sen. Sheldon Whitehouse, top Democrat on the Environment and Public Works Committee. The EU has so far resisted pressure to change new methane rules, which came into effect last year. Methane is a powerful greenhouse gas often released through leaks and flaring during the extraction, refining and transport of petrochemicals. Since the full-scale invasion of Ukraine in 2022, EU shipments of U.S. oil and gas have shot up. Natural gas imports in particular are up fourfold.
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Oil Price – February 7, 2026
Trump’s Fossil Fuel Push Meets a Legal Reality Check
United States President Donald Trump pursued an electoral campaign that focused on fossil fuel expansion and the reining in of renewable energy projects. Trump has regularly dismissed climate science as fearmongering, suggesting that the U.S. does not need to expand its green energy and cleantech sectors; rather, the country should focus on pumping more oil and gas to boost energy security. However, a recent assessment suggests that Trump may have been misinformed when setting the U.S. energy agenda.
On 30th January, a federal judge ruled that the U.S. Department of Energy (DoE) broke the law when Energy Secretary Chris Wright handpicked five researchers who reject the scientific consensus on climate change to write a report on global warming to inform national policy. The Federal Advisory Committee Act of 1972 states that agencies are not permitted to recruit or rely on secret groups for policymaking.
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The New York Times – February 78, 2026
Trump’s Oil Grab in Venezuela Shatters an American Taboo*
President George W. Bush said he was invading Iraq to keep America safe. But critics saw a hidden motive: oil. “No blood for oil!” became a global rallying cry, and Iraq’s president, Saddam Hussein, accused Mr. Bush of seeking “to control the Middle East oil.” The Bush administration rejected the charge and was determined to refute it. After invading and occupying Iraq in March 2003, Bush officials were careful to leave Iraqis in control of their oil industry, and they never sought special treatment for American firms. As foreign investors moved in, the biggest winners by far were not U.S. companies but Chinese ones.
American presidents have long been accused of plotting to control foreign oil. But while the United States has built relationships and even intervened abroad for oil, it has never simply seized control of another country’s oil reserves. “I can’t think of a military operation that the U.S. engaged in to actually take oil from anybody,” said Richard Fontaine, the chief executive of the Center for a New American Security. Until now. Immediately after U.S. forces captured Venezuela’s leader, Nicolás Maduro, in January, President Trump announced plans to take control of the country’s oil industry. Since then, Mr. Trump has forced Venezuela’s government to begin “turning over” as many as 50 million barrels for sale by the United States and is pressuring American firms to start drilling in the country, which sits on the world’s largest proven oil reserves. “The people of the United States are going to be big beneficiaries,” Mr. Trump said at the White House last month. (Mr. Trump says that some oil revenue will be returned to Venezuela, but not how much.)
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Reuters – February 6, 2026
BP has no plans to honor the national oil bargaining agreement, union says*
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The Wall Street Journal – February 7, 2026
Saudi Arabia Cuts Flagship Oil Price to Asia for Fourth Straight Month*
Top oil exporter Saudi Arabia cut the price of its crude for Asian buyers for the fourth consecutive month, signaling further caution as concerns that global supply will outstrip demand continue to weigh on global markets. State-owned oil giant Saudi Aramco set the official selling price for March loadings of its flagship Arab Light crude to Asia—the largest destination for Middle Eastern crude—at parity with the Oman/Dubai average, down from a premium of $0.30 a barrel in February.
Saudi’s monthly crude pricing is closely watched by traders as a key gauge of the kingdom’s view on regional demand. Prices for other heavier grades sold to Asia were cut by $0.40 a barrel, while lighter grades saw increases of $0.20 a barrel. Aramco also lowered prices for all grades sold to U.S. customers, Northwest Europe and the Mediterranean.
In early European trading on Friday, Brent crude was above $68 a barrel and West Texas Intermediate at $63 a barrel. The benchmarks are headed for their first weekly decline in weeks ahead of talks between the U.S. and Iran. “Escalating geopolitical tensions between the U.S. and Iran have contributed to higher oil prices,” analysts at Capital Economics said. “But we think that geopolitical fears will give way to weak fundamentals.” OPEC+ agreed at its most recent meeting to keep oil output policy unchanged for March and didn’t provide guidance on production levels beyond the first quarter.
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The New York Times – February 7, 2026
When Venezuelan Oil Comes to the U.S.*
When Venezuelan oil is shipped to the United States, where does it go? That simple question led me to the city of Pascagoula, Miss., home to Chevron’s flagship refinery on the Gulf of Mexico, where residents have long complained about pollution from the facility and other industrial sites along the coast. (Read my article on the community’s worries here.) It’s one of a handful of sophisticated refineries in the country that have been processing Venezuela’s heavy crude oil into gasoline, diesel and jet fuel.
Operating under a special license, Chevron is the only American company that has continued drilling for oil in Venezuela in recent years, even while other oil giants left the country. As the U.S. government asserts control over Venezuelan oil production, Chevron is among the companies that could reap benefits most quickly. Pascagoula residents now worry that more Venezuelan oil is headed their way, adding to their pollution worries.
The prospect is giving fresh momentum to an unusual proposal by people who live near Pascagoula, in a neighborhood called Cherokee Forest. They’re asking Chevron and the owners of other industrial facilities in the city to buy their homes so they can move away from the pollution entirely.
Under their buyout plan, their homes would be converted into a “blue-green buffer” of forests, waterways and wildlife habitats between the industrial corridor and remaining households, aiming to alleviate chronic flooding and helping to filter industrial emissions. “Let them drill over there, do what they’ve got to do,” Julie Hambey, who has lived in Cherokee Forest for more than 30 years and who works at a nearby Walmart, told me. “Just get us all out.”
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Houston Chronicle – February 7, 2026
Steelworkers reach agreement with Marathon Petroleum, avert national strike*
The United Steelworkers union reached an agreement with Ohio-based Marathon Petroleum on Friday, setting a standard of wage increases that could apply to 30,000 oil workers across the country and that averts a national strike. The four-year agreement with the company, which is primarily a refiner, which now goes to local bargaining units for ratification, includes “strong wage increases and other national priorities,” the union said in a news release.
“USW members, across the country, across employers, across our industry, stood together in calling for a fair contract,” said Mike Smith, chair of USW’s national oil bargaining program, in a statement. In an emailed statement, a Marathon Petroleum spokesperson said the company was “pleased that Marathon and the USW have successfully negotiated a pattern agreement for new collective bargaining contracts in the U.S. refining industry.”
Utilities, Electricity & Renewables
Politico – February 6, 2026
The big split driving the tricky politics of AI data centers*
The tech industry is facing fierce local backlash to data center projects around the country. But a new poll suggests national opinion is still up for grabs. Cities from Madison, Wisconsin, to Chandler, Arizona, are rejecting new data centers — the hulking, server-packed complexes that make up the backbone of the booming artificial intelligence industry — citing everything from rising electricity costs to depleted water tables and air pollution. …
But the industry’s standing is also precarious, and the poll suggests a partisan split is emerging: People increasingly see the tech companies as aligned with Republicans, the survey shows. And Democratic Govs. Abigail Spanberger of Virginia and Mikie Sherrill of New Jersey won races in November in part by campaigning to force data center operators to help upgrade the electric grid and keep utility rates down. As the AI-driven projects spread, the map the industry will have to defend politically and financially will keep expanding, far beyond traditional clusters of data center growth in places like Virginia and Texas.
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Energy Newsbeat – February 7, 2026
Texas Sues Wind Turbine Recycler Over 3,000 Blades Dumped In Sweetwater
In a stark reminder that “green” energy isn’t always as tidy as it seems, the state of Texas has filed a high-stakes lawsuit against a wind turbine recycler accused of turning a rural Texas town into an unintended graveyard for massive, non-biodegradable blades. The case, centered in Sweetwater, highlights not just one company’s alleged negligence but a growing crisis in the wind industry: what happens when the turbines stop spinning? As the U.S. wind fleet swells to tens of thousands of installations, the challenges of recycling, decommissioning, and land reclamation are coming home to roost—often quite literally, in landfills and abandoned fields.
We have questions about the life span of wind farms. We have seen evidence that the numbers are inflated through subsidies for “Maintenance” or nameplate upgrades after 3 to 5 years, and that the real lifespan of wind farms has been masked by the industry through the availability of upgrade money. What we have seen is verifiable increases in consumer bills after 3 to 5 years that Utilities seek in the United States for rate increases following the addition of wind farms to grids. It is a pattern, and we are trying to get the documentation.
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Associated Press/Yahoo! News – February 6, 2026
Energy chief Wright says orders empowering coal plants helped keep lights on during winter storm
The Trump administration said Friday that its use of emergency orders to keep aging coal-fired plants operating helped prevent a major blackout from power shortages during the brutally frigid weather that has gripped most of America for the past two weeks.
Scattered outages occurred because of ice accumulation that felled local power lines, leaving hundreds of thousands without power, at least briefly. But the nation’s regional power grids generally maintained reliable electricity service, with natural gas and coal leading the way, Energy Secretary Chris Wright and other officials said.
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KTRE – February 7, 2026
$1.5B data center project under negotiation in Angelina County
Angelina County is in negotiations for a $1.5 billion data center that would be the largest single investment in the county’s history, County Judge Keith Wright said Thursday. Wright announced the potential project during his State of the County Address to the Lufkin Chamber of Commerce, calling it a significant opportunity to expand the county’s tax base and economic development.
The data center would be built on the paper mill plant property on State Highway 103 east of Lufkin that had been in use for more than 80 years, Wright said. The facility would clean up what he described as a “huge, humongous eyesore” and address current environmental issues on the site.
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Utility Dive – February 6, 2026
First Solar releases poll showing support for solar among GOP voters
A slight majority of right-leaning voters — 51% — surveyed in a poll commissioned by utility-scale solar manufacturer First Solar said they favor the use of utility solar energy, with 30% opposing it and 19% declining to take a position. “If the panels used for solar energy are American-made with no ties to China, support for solar energy soars higher,” said a memo from Fabrizio, Lee & Associates, the research firm that conducted the survey. “Those in favor jump to 70%, while only 19% remain opposed.”
First Solar said in a release that the survey also found 52% of GOP-aligned voters are more likely to support a Congressional candidate who supports an all-of-the-above energy agenda and American companies building solar manufacturing facilities in the U.S. The survey polled 800 Republicans, Republican-leaning independents and Trump voters. Of those surveyed, 68% said they agreed with the statement, “We need all forms of electricity generation, including utility solar, to be built to lower electricity costs.”
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Oil Price – February 1, 2026
Nuclear Fusion’s Long Wait for Wall Street Is Finally Over
The world is about to gain its first publicly traded ‘pure-play’ fusion company, and it’s determined to deliver energy from nuclear fusion with an innovative model that uses neither magnets nor lasers, the most common components of leading fusion experiments. Instead, the model being piloted by the fusion-exclusive startup General Fusion uses mechanical pistons to contain plasma within a liquid lithium shell. Interesting Engineering reports that the technology has been described as a “practical, mechanical approach to fusion, emphasizing its ability to bypass the material degradation issues that plague other designs.”
But the most groundbreaking thing about General Fusion isn’t its technology – it’s its soon-to-be distinction as a publicly traded firm that focuses on nuclear fusion alone. This comes as the result of a “definitive business combination agreement” between General Fusion and Spring Valley Acquisition Corp, and shows a stunning confidence in the commercial potential of nuclear fusion. The investors are signalling a huge shift in the fusion field by putting all their eggs into this particular basket.
Regulatory
JD Supra – February 5, 2026
In light of the unprecedented projected spike in demand for electricity driven by data centers, manufacturing and industrial development, federal and state regulators are poised to act in 2026 to develop rules to address reliability, resource adequacy, process and cost allocation issues related to the integration of new large end users. Building on actions taken in 2025, the Federal Energy Regulatory Commission (FERC), regional transmission organizations (RTOs), independent system operators (ISOs) and some states are expected to take significant steps to address the impact of these large end users on the electricity grid.
Where it started:
- Following a set of executive orders issued by President Donald J. Trump focused on energy and AI development, in October 2025, the Department of Energy directed FERC to issue an ANOPR related to the interconnection process, reliability issues and cost allocation associated with interconnection of large loads to the electric transmission system, including under co-location arrangements (i.e., where load and generation are located together or nearby). Interested parties filed over 230 initial and reply comments.
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Texas Energy Report NewsClips
Friday February 6, 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
Top Stories
Just the News – February 4, 2026
Power grid watchdog warns that over-reliance on wind and solar will make winter blackouts likely
The North American grid watchdog Thursday published its annual long-term reliability assessment, and the analysis offers a sharp warning about the growing threat of blackouts across much of the United States in the coming years. “The overall resource adequacy outlook for the North American BPS is worsening: In the 2025 LTRA [long-term reliability assessment], NERC finds that 13 of 23 assessment areas face resource adequacy challenges over the next 10 years,” the North American Electric Reliability Corporation (NERC) report states.
During January’s Winter Storm Fern, many parts of the U.S. grid neared the point where demand exceeded supply. If the grid continues to shut down fossil-fuel generation and tries to meet demand with intermittent wind and solar, according to NERC, more Americans will face blackouts when demand is high.
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KDFW – February 5, 2026
Texas sues wind turbine company for allegedly abandoning 3,000 blades in west Texas
Attorney General Ken Paxton has filed a lawsuit against Global Fiberglass Solutions, Inc. and several affiliated entities, alleging the companies illegally dumped and abandoned thousands of wind turbine blades across two sites in Sweetwater. The state’s petition, filed on behalf of the Texas Commission on Environmental Quality (TCEQ), claims the defendants created unpermitted disposal sites that threaten surrounding communities and violate state solid waste statutes.
“Illegal disposal of wind turbines hurts our land and will never be permitted under my watch,” Paxton said in a statement. “Just because the radical left calls something a ‘green industry’ does not give any company a free pass to harm the Texas countryside, break our laws, and leave Texans to deal with the negative impacts.”
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Politico – February 5, 2026
Interior sets date for next Gulf of Mexico lease sale*
Interior Department officials set a date for a March oil and gas lease sale in the Gulf of Mexico, as the Trump administration carries out Republican plans to boost fossil fuels. Bids submitted for areas covering more than 80 million acres of outer continental shelf in the Gulf will be accepted until 10 a.m. on March 10, the Bureau of Ocean Energy Management announced Wednesday. BOEM said the lease sale will be held March 11, when the bids will be opened.
The Republican megalaw signed by President Donald Trump last July requires 30 oil and gas lease sales through 2040 in the Gulf, which Trump has renamed the Gulf of America. The first Gulf sale since 2023 was held in December, and it attracted considerable interest from oil companies. Matt Giacona, BOEM’s acting director, called the planned sale a “key step” for Gulf oil and gas production. Officials have dubbed the first two sales BBG1 and BBG2, which is short for “Big Beautiful Gulf.” The megalaw is known as the One Big Beautiful Bill Act.
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Politico – February 5, 2026
Data centers increasingly turn to off-grid gas*
Thirty percent of planned data center capacity is slated to use power built directly by developers, with most companies turning to natural gas generators despite touting renewables, according to a new analysis. The findings — from data center tracking firm Cleanview — offer one of the most detailed pictures to date on how the artificial intelligence industry could affect emissions and electricity. Companies are finding ways around a shortage of gas turbines to get “behind-the-meter” AI projects online fast, using “anything they can get their hands on” for power,
“Data center developers are in this great race,” said Michael Thomas, CEO of Cleanview, in an interview. “They are finding workarounds” to the turbine shortage. Researchers identified 46 data centers with a combined capacity of roughly 56 gigawatts that plan to build their own power behind the meter, rather than rely on grid electricity from utilities. In comparison, that amount of energy could power five Manhattan-size cities, Thomas said.
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Power Magazine – February 5, 2026
Abilene-based Natura Resources, which won the first federal construction permit for a liquid-fueled molten-salt reactor in 2024, will work with NGL Water Solutions Permian to explore deploying its 100-MWe reactor design alongside thermal desalination systems to transform briny drilling waste into usable water—while powering data centers and other industrial loads hungry for around-the-clock electricity.
The agreement announced on Feb. 3 hones in on collaborative opportunities in the Permian Basin, the sprawling oil and gas formation spanning West Texas and southeastern New Mexico, where oil and gas operations produce more than 20 million barrels of produced water daily as a byproduct of unconventional drilling that typically contains high concentrations of salts, minerals, and hydrocarbons.
The Latest TERse Tips
A HUGE American military buildup near Iran has been seen for the first time in new satellite images as Trump “lays the groundwork” for ending the repressive Islamic regime — US Sun
Iran seizes 2 foreign oil tankers in Persian Gulf, state media says — ABC News
A pipeline explosion in Cameron Parish, Louisiana, Tuesday morning occurred while the pipeline owned by Delfin Offshore Pipelines was being cleaned — KPLC
Lyntegar Electric Cooperative has appointed Ross Aten as its fourth CEO, effective Jan. 9, 2026 — he brings over two decades of experience with the cooperative, having started as a part-time employee in the engineering department in May 2000 — Post Dispatch
Crux and Origis Energy have announced an investment of $340 million in tax equity capital to support a 413 MWdc utility-scale solar project in Ector County — Renewables Energy Magazine
Canadian Solar said on Thursday its e-STORAGE unit will equip two standalone battery energy storage projects totaling 503 MWh DC that are being developed by renewable energy company Sunraycer in Texas — Renewables Now
ConocoPhillips said Thursday it expects the North Field East LNG expansion project in Qatar to start up in the second half of this year, keeping global LNG supplies on track to continue surging as U.S. projects ramp up too — Natural Gas Intelligence*
US natural gas and oil services company Liberty Energy has entered into a power reservation and preliminary Energy Services Agreement (ESA) with an undisclosed ‘leading data center developer’ for a 330MW data center expansion in Texas — Data Center Dynamics
Wind turbine maker Vestas sees record revenue in 2025 — KTEN
Orsted Sells Onshore Business for $1.7 Billion After Judge Rules U.S. Wind Project Can Resume — the deal includes about 578 megawatts of operational capacity and 248 megawatts under construction — The Wall Street Journal*
Vistra Corp. is one of the best Nancy Pelosi stocks to buy in 2026 — Yahoo! News
Oil & Gas Texas
KHOU – February 5, 2026
Exxon Mobil starts up new Baytown unit
Spring-based Exxon Mobil Corp. has started up its third advanced recycling unit in Baytown. The new unit increases Exxon’s recycling capacity to process up to 250 million pounds of plastic waste a year. Globally, the company plans to reach about 450 million pounds of recycling capacity annually by the end of the year. The company previously said it plans to reach 1 billion pounds of capacity annually by 2027.
Exxon said the advanced recycling method allows the company to handle plastics that are harder to recycle. Those plastics can be turned into feedstocks for other products such as fuel or new plastic. In November 2024, Exxon announced it was investing more than $200 million to expand its advanced recycling projects in Baytown and Beaumont.
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BIC Magazine – February 5, 2026
Cheniere submits application to build massive LNG plant in Texas
Cheniere Energy has submitted an application to build a 24 million metric tonnes per annum LNG plant at its Corpus Christi location in Texas, according to a filing with the Federal Energy Regulatory Commission.
- Cheniere plans 24 mtpa LNG plant expansion in Texas
- Expansion to add four new LNG processing trains
- Cheniere aims for federal approval by May next year
The proposed project will be an expansion of Cheniere’s Corpus Christi plant, which at present has a capacity of 18 mtpa but could soon produce as much as 25 mtpa with the ongoing Stage 3 expansion expected to be completed by the end of 2026. If the Stage 4 project is approved, Corpus Christi capacity would eventually rise to 49 mtpa.
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Bloomberg – February 5, 2026
Singer’s Elliott Urges Judge to Toss Lawsuit by Texas PE Firm*
Paul Singer’s Elliott Investment Management Inc. asked a judge to dismiss a lawsuit by a Texas private equity firm that claims “tens of millions of dollars” are being withheld after the sale of oil and gas assets. Elliott argued it has “sole discretion” over when to distribute the proceeds based on agreements reached with Stronghold Investment Management, which had sued. “The managers have not determined to withhold distributions indefinitely; they are in the process of winding up complex entities following major asset sales and evaluating appropriate reserves and distribution timing,” attorneys for Elliott wrote in documents unsealed Tuesday in Delaware Chancery Court.
Stronghold sued Elliott in November, opening up another chapter to the long-running feud between the two firms. Elliott, famous for its activist investing, partnered with Stronghold in 2017 to buy and sell oil, gas and mineral interests. But the relationship soured in 2022, leading to a settlement between the sides that involved an agreement by Stronghold to wind down two partnerships.
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KHOU – February 5, 2026
President Trump announces 50 million barrels of oil from Venezuela is heading to Houston
President Trump is talking up a big oil shipment from Venezuela that is already headed to Houston, but KHOU 11 energy expert Ed Hirs says that number isn’t nearly as dramatic as it sounds. “We have 50 million barrels of oil floating right now over to Houston, and we’re working with them really well,” said President Trump Thursday morning.
“That’s about four days of current levels of U.S. production,” Hirs said. “It’s a global market, 103 million barrels a day, so 50 million barrels really doesn’t represent a big amount in the global market, and this is oil that’s been produced by Venezuela. It’s not going to be a tremendous savings and fuel prices for anyone.” So while the headline number sounds big, experts tell us it’s more about optics than impact at the pump.
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Yahoo! News – February 4, 2026
Texas oil and gas production statistics for November 2025
Statewide and county crude oil and natural gas production for November 2025 reported in the tables below came from 157,813 oil wells and 83,966 gas wells, a press release detailed. The RRC reports that preliminary total Texas reported production for November 2025 was approximately 124 million barrels of crude oil and 1.00 trillion cubic feet of total gas. Updated total reported production for November 2024 was approximately 144 million barrels of crude oil and 1.08 trillion cubic feet of total gas.
Crude oil production reported by the RRC is limited to oil produced from oil leases and does not include condensate, which is reported separately by the RRC. For full oil and gas production statistics, you can visit the links below.
Oil & Gas National & International
National Today – Feburary 5, 2026
Traders Rush to Lock In Oil Prices Amid Iran Geopolitical Risk, More Venezuelan Supply
Investors rushed to lock in oil prices at record levels in January amid concerns around Iranian crude supplies and more Venezuelan barrels heading to the U.S. Gulf Coast. Hedging can help producers reduce risk and protect their production from sharp moves in the market by locking in a price for the oil. Traders traded a record number of WTI Midland at Houston contracts and set a daily record for the benchmark on the ICE, as U.S. crude futures closed around $65 a barrel on January 30, up about 14% from the first trading day of the year.
Iranian geopolitical tensions have influenced risk premiums in the oil market, while severe winter weather in the U.S. hit production and refinery dynamics. The return of Venezuelan crude has also created potential new competition for Canadian oil on the U.S. Gulf Coast and in other export markets, including China.
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CNBC – February 5, 2026
Oil giant Shell posts weakest quarterly profit in nearly five years, keeps buybacks steady
Shell on Thursday reported its weakest quarterly profit in nearly five years, amid a weaker crude price environment and unfavorable tax adjustments in the fourth quarter. Shell posted adjusted earnings of $3.26 billion for the quarter, missing analyst expectations of $3.53 billion, according to an LSEG-compiled consensus. A separate, company-provided analyst forecast had put Shell’s expected fourth-quarter profit at $3.51 billion. It marks Shell’s weakest quarterly result since the first three months of 2021, when adjusted earnings came in at $3.2 billion.
For the full-year 2025, Shell posted weaker-than-expected adjusted earnings of $18.5 billion, compared to annual profit of $23.72 billion a year earlier. “I’d start off by saying it was actually a very strong operational quarter for us,” Shell CEO Wael Sawan told CNBC’s “Squawk Box Europe” on Thursday. “A few things hurt us this quarter. Number one was some tax adjustments which went against us, chemicals has indeed been weak, but I would look to the strength actually of our integrated gas, upstream and marketing businesses,” Sawan said.
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S&P Global Platts – February 5, 2026
Shell promises spending cuts, oil and gas growth to tackle price weakness
Shell’s CEO Wael Sawan pledged to “focus on what we can control” after falling oil prices sent the company’s revenues to four-year lows in the fourth quarter of 2025, promising to fix the company’s chemicals business, cut spending, and accelerate upstream production. The international energy company’s upstream oil and gas business produced 1.89 million boe/d in Q4 2025, 60,000 boe/d higher than Q3, it reported Feb. 5, which CFO Sinead Gorman called a “strong quarter in the current price environment”.
The fourth-quarter increase for the upstream unit was driven entirely by gas, where output grew 15% quarter over quarter. In Q1 2026, Shell expects the division to contribute roughly stable or lower production, within a range of 1.7 million-1.9 million boe/d.
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Politico – February 3, 2026
Saudi oil-supply hikes help drive best GDP growth since 2022*
Saudi Arabia’s economy expanded at the fastest pace in three years in 2025, with the oil sector emerging as a stronger engine of growth under new OPEC+ supply policy. Gross domestic product rose 4.5 percent in the 12 months through December, according to preliminary data published by the statistics office Sunday. The expansion was the strongest since 2022, as was the 5.6 percent growth rate seen for the oil economy.
Non-oil activities slowed for a third straight year, though the sector was still the biggest contributor to overall economic expansion in 2025. Real GDP for the whole economy grew 4.9 percent year on year in the final quarter of the year. State oil giant Saudi Aramco has been pumping more crude since around mid-2025 as part of supply increases agreed to by OPEC+, led by the kingdom and Russia. The Gulf nation churned out about 10 million barrels a day in the final three months of last year, the most since early 2023, according to data compiled by Bloomberg.
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Reuters – February 5, 2026
Mexico seeking way to send fuel to Cuba without being hit by US tariffs, sources say*
Utilities, Electricity & Renewables
February 5, 2026
Customers saving millions in states that banned utility political costs: Energy & Policy Institute
In recent years, a number of states have passed laws prohibiting utilities from using money they collect from customers to fund the companies’ political activities and extravagant expenses. Now, ratepayers in these states are already seeing savings in the millions of dollars. Recent utility accountability legislation in Connecticut has saved gas and electric customers from footing the bill for nearly $14 million of their utilities’ spending on political influence and advocacy activities and Board of Directors’ perks in the past year. This marks an increase from the previous year, where customers saved over $9.7 million.
The legislation, which went into effect in June 2023, prohibits utilities from using money they collect from ratepayers for lobbying, advertising and marketing, and contributions to trade associations and groups incorporated under Section 501 of the Internal Revenue Code.
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KFOX – February 5, 2026
Texas Railroad Commission approves Texas Gas rate increase for service costs
The Texas Railroad Commission has approved a reduced natural gas rate increase for Texas Gas Service customers in El Paso on Thursday. According to the City of El Paso, the originally proposed 27% increase was lowered following negotiation efforts.
Small residential customers may see their bills rise by about 10%, translating to an additional $3 to $4 per month. Larger residential customers could experience increases closer to 19%, or about $11 more per month, depending on usage. The company says the increase is needed to cover service costs and maintain reliable service.
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OK Energy Today – January 28, 2026
$2.1B Transmission line to stretch across Oklahoma Panhandle
Oklahoma regulators are being asked to grant approval for construction of a major electric transmission project that would cross the Oklahoma Panhandle and connect the eastern and western U.S. power grids. … Three Corners Connector LLC has filed an application with the Oklahoma Corporation Commission seeking authority to construct a portion of a 300-mile, $2 billion high-voltage transmission line known as the Three Corners Connector. The project would involve construction of an up to 525-kilovolt high-voltage direct current (HVDC) transmission line with endpoints near Guymon, Oklahoma, and Pueblo, Colorado.
According to the filing, the line would transport electricity from all generation sources and allow bidirectional power flows to respond to shifting demand between regions.
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Oil Price – February 5, 2026
U.S. Power Boom Triggers Global Gas Turbine Shortage
The hyperscaler-driven surge in U.S. power demand is creating ripple effects in the global supply chain, with gas turbines becoming the most critical bottleneck to rolling out flexible baseload capacity to support accelerated load growth. Gas turbine makers report soaring backlogs and delivery times years after order placement, while analysts say the bottlenecks in power plant equipment effectively delay the gas-fired power capacity that is needed now.
The U.S. sees unprecedented power demand growth—AI infrastructure, data centers, and advanced manufacturing are driving the first meaningful growth in U.S. power consumption since the 1990s. The growth is set to average about 2% each year over the next decade, making new electricity generation capacity critical to supporting the advance in AI and the onshoring of manufacturing.
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CBS News – February 4, 2026
Millions of Americans face higher utility bills as dozens of rate hikes take effect
Tens of millions of Americans are facing higher utility bills after regulators approved dozens of rate hikes last year. Regulators green-lit 43 rate hikes across the country in 2025, totaling $11.6 billion in increases, according to an analysis by PowerLines. The nonprofit, which is focused on lowering utility costs, said the vast majority of hikes have already gone into effect, while eight are slated to go live in the coming months.
All told, 56 million Americans will see higher utility bills, according to PowerLines, adding fresh financial pressure on consumers at a time when energy costs are already a major headache. Utilities are hiking their rates to pay for repairing and replacing ailing infrastructure, costs linked to extreme weather events, volatile fuel prices and the increase in electricity demand, driven largely by data centers.
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pv magazine – January 3, 2026
U.S. energy storage developers secure over $2 billion in latest capital infusion
Across three major transactions in early 2026, at least $2 billion in financing was recently announced, demonstrating the strength of energy storage as a core component of the U.S. power system.
Aypa Power, a Blackstone portfolio company, announced the closing of a $1.5 billion construction warehouse revolving credit facility, with an additional $500 million accordion feature. The company said the first-of-its-kind transaction represents the largest warehouse financing executed for a storage-focused independent power producer (IPP).
In a parallel move for the sector, Texas-based developer Jupiter Power closed a $500 million senior secured green revolving loan and letter of credit facility. The company said the funds will support the advancement of its project pipeline across the U.S.
PowerBank Corporation, a leader in North American energy infrastructure, announced it has entered into a loan agreement with NY Green Bank for an $8 million revolving credit facility. The company also secured $920,000 in mini-perm financing following the commissioning of its Geddes community solar and storage asset.
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Utility Dive – January 28, 2026
Sam Altman-backed Exowatt launches arm to power data centers with renewables
Renewable energy developer Exowatt has launched a business arm focused on providing land and energy infrastructure to support large or hyperscale data centers, the company announced last week. The company’s new arm, ExoRise, will lean on land, power and its P3 solar and battery technology — which stores energy in the form of heat and converts it to electricity on demand — to provide data centers with reliable power around the clock, Exowatt said in a press release.
The Miami, Florida-headquartered startup is backed by OpenAI CEO Sam Altman, venture capital firm Andreessen Horowitz and others, and said it will develop the projects in areas with high solar exposure across the U.S. Southwest, such as New Mexico, west Texas, Arizona and Nevada. Exowatt said the region offers ample land and solar resources which allows for faster deployment and has a minimal impact on local communities.
Regulatory
Beaumont Enterprise – February 5, 2026
State fines Mid-County chemical plants for emissions violations*
An ammonia plant in Nederland and a petrochemical plant in Port Neches have received new Texas Commission of Environmental Quality administrative fines levied Jan. 28 for emissions of carbon monoxide and other toxic compounds. TCEQ commissioners unanimously approved a total of $148,359 in penalties between OCI Beaumont and Indorama Ventures Oxides, with the former’s total penalties making up the majority at $105,000 and the latter’s being $43,359.
The state agency alleges OCI Beaumont failed to prevent 12,841 pounds of carbon monoxide, 128 pounds of nitrogen oxides and 30 pounds of volatile organic compounds from the methanol flare on May 11, 2022 for eight hours. TCEQ also said the ammonia plant failed to comply with maximum allowable emission rates. Indorama allegedly failed to prevent a number of emissions in 2022 and 2023. A total of 18,217 pounds of carbon monoxide, 15,530.46 pounds of volatile compounds and 3,364 pounds of nitrogen oxides also escaped into the air from the Port Neches plant across three emission events in 2023.
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Utility Dive – February 4, 2026
House lawmakers press FERC on affordability, reliability and gas
House lawmakers on Tuesday grilled members of the Federal Energy Regulatory Commission about electric affordability, grid reliability and the agency’s reviews of natural gas pipelines and liquefied natural gas projects. The House Energy and Commerce Committee’s energy subcommittee hearing was held while about 40,000 customers in Mississippi and Tennessee remain without power following Winter Storm Fern, which started sweeping across the United States on Jan. 23.
Also, the North American Electric Reliability Corp. on Jan. 29 warned that Midcontinent Independent System Operator, PJM Interconnection, Electric Reliability Council of Texas and parts of the Pacific Northwest face a high risk of not having enough power supplies to meet resource adequacy targets later this decade.
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Texas Energy Report NewsClips
Thursday February 5, 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 fell on Thursday after Washington and Tehran agreed to hold talks in Oman on Friday, even as differences persist over the scope of the discussions.
U.S. crude oil was down over 2% at $63.8 a barrel in Asia trading (11.34 p.m. ET Wednesday).
Global benchmark Brent also fell 2.04% to $68.04 a barrel.
Iran is seeking to focus talks on its longstanding nuclear dispute with Western powers, while the United States wants the agenda to also cover Tehran’s ballistic missile program, its alleged backing of armed groups across the Middle East, and its domestic human rights record.
On Wednesday, U.S. President Donald Trump said Iran’s Supreme Leader Ayatollah Ali Khamenei “should be very worried,” sending oil about 3% higher.
Trump had warned last month that he could order strikes on Iran if Tehran fails to agree to a deal around its nuclear program. He had also threatened to intervene in support of protesters who have been raising voices against the Islamic Republic.
Analysts cautioned that markets may be over-interpreting diplomatic signals that could quickly reverse.
Top Stories
Texas Monthly – February 3, 2026
The Far-Right Billionaire Who Bankrolled Ken Paxton Has Abandoned Him*
Related: How Taylor Rehmet upset a MAGA candidate to flip a North Texas Senate district — Salon
Since the beginning of his lengthy and oft-scandaled political career, Attorney General Ken Paxton has held one of the most valuable get-out-of-jail-free cards in Texas politics: the seemingly limitless support of Midland oil tycoon Tim Dunn. Whenever Paxton got into trouble, which was frequently, Dunn would be there to bail him out. In turn, when Dunn’s political operation went to war against the Texas Ethics Commission, Paxton, in his capacity as attorney general, refused to defend the agency. For nearly two decades, the Dunn–Paxton partnership seemed unshakeable. But a funny thing has happened in Ken Paxton’s run for the Republican nomination for U.S. Senate. Tim Dunn has disappeared.
Dunn and Paxton both made their first big splashes in Texas politics in the same year, 2002, with similar objectives. Dunn, who would soon become the most influential and ruthless political donor in the state, wrote his first substantial political check that year—a $10,000 donation to Free Enterprise PAC, a group that sought to advocate right-wing causes at the Texas Legislature, among them prohibiting “homosexual marriages and adoptions” and requiring “a super majority to increase taxes.” Paxton, a first-time candidate for state representative who closely aligned himself with the religious right, was Free Enterprise PAC’s biggest single beneficiary in that year’s legislative elections. …
But according to multiple sources I spoke with while reporting my recent Texas Monthly feature on the primary battle between Paxton and incumbent U.S. Senator John Cornyn, when Paxton approached Dunn about backing his Senate challenge, Dunn told him to stay out of the race. One source who is familiar with Dunn’s thinking told me, “Tim sat down and told Ken, ‘I don’t want you to be a senator; I want you to be a good attorney general.’” Dunn apparently saw Paxton’s challenge as a costly and unnecessary drain on resources that would weaken the party for the general election. (The billionaire, who seems to relish conservative internecine feuds and a good Republican primary throwdown, apparently likes Cornyn enough that, so far at least, he hasn’t seen a reason to spend heavily to oust him.)
After Paxton refused to back down, Dunn wasn’t pleased, according to the source. “When you look Tim Dunn in the eye and say, ‘Sorry, I’m doing it anyway,’ that doesn’t go all that well with him,” they said. (Dunn did not respond to requests for comment. A spokesman for Paxton wrote, “You must be crazy if you think that myself or the Paxton campaign would respond to anything asked by a tabloid rag like the Texas Monthly.”)
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KTBC – February 4, 2026
Judge blocks Texas law prohibiting state investment in anti-fossil fuel companies
A Texas law requiring state entities to sever ties with financial companies that “boycott fossil fuels” has been blocked by a district judge. The judge decided Senate Bill 13, which prompted an $8.5 billion hit to BlackRock, violates two amendments to the U.S. Constitution.
U.S. District Judge Alan D. Albright ordered Tuesday that the State of Texas is enjoined from implementing and enforcing SB 13, which blocked state contracts with companies that were believed to be harmful to the fossil fuel industry. Albright found that the law violates the 1st and 14th Amendments, saying the law was overly broad, unconstitutionally vague, and enables arbitrary and discriminatory enforcement.
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The Wall Street Journal – February 4, 2026
The Dell Scion Who Wants to Shore Up the Texas Power Grid*
Zach Dell aims to shore up the Texas power grid with an army of batteries installed one home at a time. The 29-year-old is the son of billionaire computer pioneer Michael Dell and the co-founder and chief executive of Base Power, a home-battery company that says it is adding over 50 customers a day in markets including Austin, Dallas-Fort Worth and Houston. Base Power has raised more than $1.3 billion from investors as battery storage is booming and grid-reliability issues are sending homeowners in frantic search of backup power.
Utility customers across the country increasingly face less reliable service from a combination of severe weather and an aging electricity system, while federal regulators have warned that power demand is outpacing infrastructure development. In states like Texas, both hurricanes and winter storms can cause disruptions. Base Power describes itself as a subscription service. The company owns the batteries and acts as a retail power provider for its customers, offering what it promises will be a lower-than-average rate. If the lights go out, the batteries will power a home for a day or two, depending on the size of the installation.
In the meantime, Base Power bundles the scattered residential batteries and plays power trader, acting as a single power plant. The company has more than 10,000 customers and about 200 megawatt-hours of installed capacity so far. The Austin-based company hopes to expand beyond Texas. “When the grid’s up and running, we use the battery to support the grid,” Dell said. “When the grid goes down, you get the battery back.” Homeowners pay $695 to install one unit, plus a $19 monthly subscription fee, in addition to their electricity bill that is based on usage. Its current energy rate is 8.5-cents per kilowatt-hour, which rises to around 14.3 to 14.5 cents after adding utility transmission-and-distribution costs. Texas residential rates averaged 16 cents in November, according to government data.
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KDFW – February 4, 2026
ERCOT ranked D- for Texas power grid planning, among nation’s worst according to report
The Electric Reliability Council of Texas (ERCOT), which manages power for about 90% of the state’s electric load, received a D- grade in 2025, according to a Feb. 2025 transmission planning report by Grid Strategies and the nonprofit advocacy group Americans for a Clean Energy Grid. Texas’ D- grade for its electric transmission planning and development, ranks among the lowest-performing regions in the country as electricity demand from data centers, industry and population growth accelerates.
The grade reflects weaknesses across multiple categories, particularly Texas’ lack of interregional transmission planning and limited long-term, scenario-based grid planning, the report said. This is because Texas operates its own electric grid through ERCOT, which connects more than 54,000 miles of transmission lines and over 1,200 generation units, but is largely isolated from the rest of the U.S. power system.
The Latest TERse Tips
Oil refiners on the U.S. Gulf Coast are struggling to absorb a rapid surge in Venezuelan crude shipments since last month’s flagship $2 billion supply deal between Caracas and Washington, pressuring prices and leaving some volumes unsold, according to traders and shipping data — Reuters
US Crude Oil Inventories Take Big Hits In Storm Aftermath — Oil Price
Meta announced that it has signed a Power Purchase Agreement with Madrid-based Zelestra for the production of 176 MW of energy from a new solar project in Texas — ESG Today
Energy developer Aypa Power, a Blackstone portfolio company that operates utility-scale energy storage and hybrid renewable energy projects, announced the closing of its $1.5-billion construction warehouse revolving credit facility, with an additional $0.5 billion accordion feature — Power Magazine
Case Summary: Shannon Wind Chapter 11 — Shannon Wind has filed for Chapter 11 bankruptcy to pursue a Section 363 sale of its 204 MW wind farm in Clay County, north Texas, driven by legacy hedge liabilities stemming from Winter Storm Uri — Bondoro
Howard Energy Partners today announced that its chief executive officer, Mike Howard has been appointed to the National Petroleum Council (NPC) by Secretary of Energy Chris Wright — Morningstar
Baker Botts has added Cody Carper as a partner in its Houston office, where he will serve as co-chair of the Oil and Gas practice — see the press release
MPLX LP Reports Fourth-Quarter and Full-Year 2025 Results — see the press release
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Oil & Gas Texas
CNBC – February 4, 2026
Chevron has signed a memorandum of understanding, or an initial agreement, with the Syrian Petroleum Company and the Qatari firm UCC Holding to evaluate the exploration for oil and gas offshore Syria, a spokesperson for the U.S. major said on Wednesday. Syria’s coast in the eastern Mediterranean lies between major gas discoveries in Israel and Egypt.
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February 4, 2026
Hawk Dunlap is not a politician. He’s an outsider, a renegade, a veteran West Texas oil and gas man looking to shake things up in the Texas Railroad Commission. Republicans eager to address a multi-billion-dollar burden on Texas taxpayers — not to mention an urgent threat to natural resources and public health — should give him their vote in the March 3 primary. The Railroad Commission — the misnamed agency that actually oversees Texas’ oil and gas industry — estimates there are more than 11,000 abandoned oil and gas wells in Texas. After passing through a series of transfers to various companies as production wanes, these so-called “orphan wells” become the property and financial burden of the state by default. When not plugged properly, they often leak harmful pollutants, threatening livestock, ranchland, farmland, groundwater and air quality. …
In our view, Railroad Commissioner Jim Wright, a Republican up for reelection this year, has not shown sufficient independence from the industry he regulates. The revamped waste management rules Wright introduced not long after taking office in 2021 were written by industry executives and consultants. Wright owns stock in several hazardous waste companies in Texas.
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San Antonio Express-News – FEbruary 4, 2026
Texas law barring state investment in firms boycotting fossil fuels declared unconstitutional*
A federal district judge on Wednesday declared a 2021 law restricting state investments in companies boycotting the fossil fuel industry unconstitutional, calling it “facially overbroad” and citing free speech and due process concerns. Legislators passed Senate Bill 13 as a way of discouraging divestment from oil and gas companies, as financial figureheads at the time had signaled they intended to make climate change initiatives a larger factor in their investment considerations. The law requires the comptroller’s office to maintain a list of financial firms that refuse, terminate or penalize business with a fossil fuel company “without ordinary business purpose.” SB13 is commonly referred to as an “anti-ESG” law, which stands for “environmental, social and governance.”
U.S. District Judge Alan Albright delivered the summary judgment, and affirmed in the 12-page order that the way SB13 determined what constituted boycotting a company was too broad and undermined First Amendment free speech protections of the firms affected. The ruling also cited 14th Amendment due process concerns. “SB 13’s ‘boycotting’ definition is comprised of three clauses, all of which are undefined and not susceptible to objective measurement or determination,” Albright wrote in the ruling. Albright also wrote that the law already had led to “discriminatory enforcement” of its provisions. After SB13 was passed, huge state investment funds, including the Teacher Retirement System of Texas and the Texas Permanent School Fund, divested billions from firms.
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Politico – February 4, 2026
Exxon Mobil renews calls for plastics-to-fuel recycling support*
Exxon Mobil is re-upping the pressure on lawmakers and EPA to adopt friendlier policies regulating “advanced” or “chemical” recycling facilities. The petrochemical powerhouse announced Monday its third advanced recycling plant in Baytown, Texas, was operational and increasing its capacity to eventually transform up to 250 million pounds annually of hard-to-recycle plastics back into their molecular building blocks.
“What’s essential now is supportive policy frameworks — clear, consistent laws and regulations that recognize advanced recycling as a proven solution for hard-to-recycle plastics,” the news release says. EPA Administrator Lee Zeldin toured the Baytown complex in September and commended the “limitless future potential.” Exxon is calling for “federal legislation that would officially recognize advanced recycling as recycling, [to] establish clear standards for recycled content claims, and ensure alignment across federal agencies, providing clarity for both industry and consumers,” according to the release. Chemical recycling, which proponents have rebranded as advanced recycling, is an umbrella term for a suite of technologies that break down plastics for reuse. Exxon uses pyrolysis, the most common technology in the family, which applies high temperatures to plastics to create a substance often used as a fuel additive.
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Offshore Energy – February 4, 2026
$11 billion US Gulf Coast project brokers 20-year LNG and gas deals with Mercuria
Commonwealth LNG has signed an LNG sale and purchase agreement (LNG SPA) with Mercuria Energy Trading to provide 1 million tonnes per annum (mtpa) of LNG for 20 years from the Commonwealth LNG export facility in Cameron, Louisiana and a gas supply agreement (GSA) with Mercuria Americas, together with Mercuria Trading, for the supply of a corresponding quantity of natural gas to Commonwealth.
Commenting on these deals, Brian Falik, President of Mercuria Americas, underlined: “This agreement reflects Mercuria’s commitment to securing long-term, reliable LNG supply from high-quality U.S. projects. Commonwealth LNG’s integrated approach, strong resource backing and focus on responsible, low-emission production align well with our strategy to serve global customers with dependable and competitively priced energy. We are pleased to partner with Commonwealth and Caturus as they advance a project that will play an important role in meeting growing international demand for LNG.”
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Energy Intelligence – February 3, 2026
Devon’s Coterra Takeover Creates New US Superindependent
US-energy-focused investment firm Kimmeridge, which has pushed for Coterra to reduce its reliance on gas, welcomed the deal. “As a significant shareholder in both companies, we are supportive of a combination that can unlock meaningful shareholder value. We continue to believe that will require portfolio rationalization and a renewed focus on the Delaware basin,” Mark Viviano, managing partner at Kimmeridge, said in a Feb. 2 statement. After the deal completes, the new-look Devon will also rank among the most efficient operators in the Delaware subbasin, running 20 rigs — closing in on EOG and Permian Resources’ combined 26 rigs — with estimated drilling costs of $782 per foot at Coterra and $717/foot at Devon.
JPMorgan recently ranked Devon fourth among 14 Delaware operators on productivity metrics, behind Exxon, Chevron and Oxy and ahead of Continental Resources and Coterra. Analysts estimate that across the entire Delaware subbasin, there are about 52,000 drilling locations that are technically drillable, economic under certain price assumptions or not yet drilled for other reasons. The bigger Devon will control roughly 13% of those 52,000 locations, with about 27% of the sites having an adjusted breakeven at the wellhead of $40 per barrel or less. Devon claims this represents the largest inventory of sub-$40 drilling locations in the industry, providing it with more than 10 years of high-quality drilling opportunities. At an average breakeven of $46.80/bbl, Mizuho estimates an average drilling inventory life for post-deal Devon of approximately 21 years.
Oil & Gas National & International
The Wall Street Journal – February 4, 2026
The $100 Billion Bet on Venezuelan Oil Relies on a Broken State Company*
During President Trump’s first term, his administration asserted that executives at Venezuela’s state-owned oil company, Petróleos de Venezuela SA, embezzled billions of dollars and used company aircraft to traffic in cocaine. Now it wants U.S. companies to go into business with the Venezuelan giant. The Trump administration is counting on foreign entities working with the Venezuelan state oil company to fuel what the American president hopes will be a $100 billion investment boom in the South American country’s energy industry. That is setting up a legal minefield for investors that have to go through PdVSA (pronounced peh-deh-VEH-sah) to tap Venezuela’s vast oil wealth.
“If a company is going to want to do business in Venezuela, it’s going to have to speak with PdVSA,” said Oswaldo Felizzola, head of the energy center at the IESA business school in Caracas. The country is said to have the world’s largest proven reserves of crude and once produced 3 million barrels a day, ranking it among the world’s oil giants. That production dropped to 300,000 a day at its lowest point under Venezuelan leader Nicolás Maduro and is now about 900,000 a day.
Since the U.S. captured Maduro on Jan. 3, the Venezuelan regime changed its oil-industry law, breaking sharply with a quarter-century of Chavismo, the movement started under Maduro’s predecessor, Hugo Chávez, who advocated “oil sovereignty” with stringent state control through PdVSA. Soon after the oil-industry law was changed last month, the U.S. Treasury Department eased sanctions on PdVSA, issuing a general license allowing American companies to export and sell Venezuelan crude.
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Reuters – February 4, 2026
Equinor sold about 30% of its US gas on spot market during January price spike*
Norway’s Equinor sold around 30% of volumes from its U.S. onshore natural gas assets on a spot basis in January, capitalising on a cold snap that sharply lifted demand and prices, its chief financial officer said on Wednesday. Equinor owns stakes in onshore gas production in the U.S., with the Marcellus position in the Appalachian Basin on the U.S. northeast coast its largest natural gas asset outside Norway.
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S&P Global Platts – February 4, 2026
Trafigura CEO ‘not particularly concerned’ about Europe’s reliance on US LNG
The head of Trafigura said he is not worried about Europe’s growing dependence on US LNG because of buyers’ flexibility to source from elsewhere, if needed. “I’m not particularly concerned about that issue of overreliance on the US,” Richard Holtum told the LNG2026 conference in Doha Feb. 4. Holtum stressed that contracts with US LNG producers are typically on an FOB basis, so “you can take it anywhere.”
“It is not, I would say, that Europe is dependent on US LNG,” Holtum said. “It’s that Europe is dependent on LNG, and today the most efficient supplier is the US.” If needed, the continent could secure cargoes from other producers, supported by the array of import facilities developed in the wake of Russia’s invasion of Ukraine, he said.
Utilities, Electricity & Renewables
Utility Dive – February 4, 2026
Tesla sets battery storage deployment record in Q4 as EV sales slump
Booming demand for energy storage propelled Tesla’s stationary battery deployments to a fresh record in the fourth quarter of 2025 as its electric vehicle deliveries slowed sharply, the company said on Wednesday. Two Korean battery manufacturers, LG Energy Solution and Samsung SDI, also reported strong stationary storage demand last quarter and said they expected more of the same in 2026. Both said their energy storage businesses helped offset slowing North American EV demand.
The Korean manufacturers said U.S. tax credits for battery manufacturing and deployment would drive business in the coming quarters. Tesla executives also said its energy storage business would expand despite ongoing uncertainty around U.S. tariff policy.
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Bloomberg – February 4, 2026
Texas Grid Shows How Batteries Can Help Avoid Winter Blackouts*
Last month’s sprawling winter storm from Texas to New England was one of the first multi-grid tests in the US for big batteries. They passed. Texas in particular benefited from energy storage, which helped cushion the state’s grid during the storm. Texas has nearly 17 gigawatts of installed battery capacity now, up from less than 0.5 gigawatts in 2021, according to data from Electric Reliability Council of Texas, the state grid operator, and Wood Mackenzie. The state is expected to hit 25 gigawatts in 2029, per an annual assessment released last month by the North American Electric Reliability Corporation.
“The batteries were the savior this time,” said Barbara Clemenhagen, executive director of the Gulf Coast Power Association and energy consultant, adding that they likely could’ve helped Texas avoid the severe blackouts it experienced when a days-long freeze paralyzed the grid in early 2021. Grid operators are racing to fortify aging grids strained by extreme weather and surging power demand from data centers, new factories and electric cars. The Trump administration is keen to keep old coal-fired plants alive and build new natural gas and nuclear plants. Renewable advocates, meanwhile, say solar farms are cheap and quick to build.
Batteries are also seen as a key tool — they help minimize the intermittency of wind and solar power and can provide short bursts of energy when demand is peaking, especially when gas plants or wind farms are sidelined during intense storms. Batteries are often paired with solar generation and are increasingly being installed next to gas plants, according to battery developer Elevate Renewables. Storage is more common in Texas than New England today.
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Bloomberg – February 4, 2026
Ex-Tesla Energy Chief Raises $230 Million for Battery Startup*
Tesla Inc.’s former energy chief has secured more than $230 million to expand his battery startup into new markets. It’s the latest sign that the multibillion-dollar US home energy storage market is heating up as strain on the grid increases. California-based Lunar Energy develops software that helps optimize home batteries to charge when electricity is cheap and send stored energy back to the grid when demand is high. It also began deploying its own batteries by working with distributors last year. The firm has about 2,000 installations across California, said Kunal Girotra, who left Tesla to found Lunar about six years ago.
The new funding includes a $102 million Series D round led by B Capital and Prelude Ventures, as well as a previously unannounced $130 million Series C round. Lunar will use it to expand battery sales in new markets, such as Texas, Puerto Rico and Hawaii. Girotra said his startup is close to being valued at $1 billion, though he declined to provide specific details. The US added nearly 4.9 gigawatt-hours of home energy storage in 2025, up almost 60% from the prior year, according to an estimate by BloombergNEF. That can help homes keep the lights on during extreme weather and help utilities improve grid management while avoiding firing up so-called natural gas peaker plants during periods of high demand.
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Real Clear Energy – February 4, 2026
Concerns around water use, air quality and environmental impact are often misunderstood. Modern data centers are increasingly designed to rely on reclaimed or non-potable water for cooling, significantly reducing overall water intensity. Air quality is also a key consideration, particularly in non-attainment areas such as the Dallas Fort Worth region. Many new facilities are evaluating alternative cooling technologies, including air-based systems, that limit emissions and protect existing air quality standards. When thoughtfully sited, data centers can also minimize noise and light impacts, support stormwater management, and coexist responsibly with surrounding land use.
North Texas is growing quickly, and meeting the demands of that growth will require more than incremental fixes. Regional leaders, from mayors to county officials, consistently point to the importance of having industrial partners capable of supporting long-term infrastructure investment. Data centers have proven they can play this role by modernizing essential systems while driving economic development in the communities that host them. Texas does not need to choose between growth and reliability, or between economic development and affordability. With thoughtful planning and strong public-private collaboration, data centers can help deliver all four. North Texas is already showing what that future can look like and providing a blueprint for how the rest of the state can prepare for the growth ahead.
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The Wall Street Journal – February 4, 2026
Google Is Spending Big to Build a Lead in the AI Energy Race*
Google plans to spend $4.75 billion to help solve a problem stymieing the AI race: finding enough electricity to run an ever-larger fleet of data centers. The company’s pending deal to buy Intersect, a wind and solar developer, would make it the only tech giant to own a power company. That could give it a significant advantage over rivals as power officials favor tech companies prepared to bring their own electricity sources online and the Trump administration presses them to avoid passing on power costs to consumers.
The deal is the latest in a series of bets Google has made to develop a soup-to-nuts strategy for accessing vast amounts of power. Among its competitors, Google was first to strike deals to develop advanced nuclear and geothermal plants designed to operate constantly. It was first to experiment with how it can reduce data-center power use during times of strain on the grid. And with the acquisition of Intersect, Alphabet will be the first to incorporate within its business the means to build its own electricity sources for Google data centers.
“The energy system, I would say, globally, is no longer fit for purpose, for serving the demands of AI,” said Amanda Peterson Corio, Google’s global head of data-center energy. “What we’re trying to do is really think proactively.” The acquisition has the potential to help Google better navigate the challenging process of bringing data centers online as regulators and legislators increasingly worry about electricity supply shortages. Tech companies are seeking to build data centers far more quickly than new power plants can be built to serve them.
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Utility Dive – January 28, 2026
Prime Data Centers uses closed-loop air and liquid cooling to earn Energy Star certifications
Two computing facilities operated by Prime Data Centers have earned the U.S. Environmental Protection Agency’s Energy Star certification, placing them in the top 25% of U.S. buildings for energy efficiency, the Texas-based technology infrastructure company said this month. Located in Dallas and Sacramento, the facilities “emphasize efficiency-driven design, advanced monitoring and benchmarking, and operational best practices intended to reduce energy consumption without compromising uptime or performance,” Prime said in a news release.
High-performance computing facilities face growing scrutiny from elected officials, planning councils, environmental groups and consumer advocates over their impact on water resources, energy costs and the natural environment. Responding to local pushback, developers abandoned 25 major U.S. data center projects in 2025, quadruple 2024’s figure, according to a Heatmap Pro analysis released this month.
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Utility Dive – January 28, 2026
How utilities can prepare for the next wave of data center growth: Tim King, Nexans North America
The speed of datacenter deployment has shocked the world. Recent reporting shows a potential underestimation of datacenter proliferation. The 54-volt in-rack power distribution systems supporting current growth were designed for kilowatts, not megawatts. Nvidia and partners including Schneider, ABB and Eaton are addressing this by developing 800-volt DC sidecars to deliver energy for next-generation data centers, but power demands show no sign of slowing.
According to Moore’s law, the number of transistors on an integrated circuit doubles approximately every two years. For years, power draws declined under Dennard scaling: power density stayed constant as transistors shrank. That relationship has broken down and as transistor counts increase, total chip power consumption continues to rise.
Regulatory
The Wall Street Journal – February 4, 2026
Is AI the Next Climate Change?: Barton Swaim*
“People should stop training radiologists now. It’s just completely obvious that within five years, deep learning is going to do better than radiologists.” So pronounced the cognitive scientist Geoffrey Hinton, colloquially known as the Godfather of AI, a decade ago. He was awarded the Nobel Prize in Physics in 2024 for his work in artificial intelligence. Mr. Hinton thought AI would make radiologists useless. They have since grown in number, demand and income. Mr. Hinton’s claim was among the earliest that AI would make a whole class of human practitioners redundant. Others have come at regular intervals since. In 2023 a Goldman Sachs study concluded that “roughly two-thirds” of U.S. jobs are “exposed to some degree of automation by AI” and that most of those “have a significant—but partial—share of their workload (25%-50%) that can be replaced.” Hedged language aside, that sounds like a lot of people on the unemployment rolls.
Studies like Goldman’s have generally shown more nuance than media reports and political pronouncements on supposed AI job loss. “Amazon axes 16,000 jobs as it pushes AI and efficiency,” Reuters announced last week. Politicians of a progressive bent do their best to dramatize the threat. AI and automation “could replace nearly 100 million jobs over the next ten years, including 89% of fast food and counter workers, 64% of accountants and 47% of truck drivers,” says a report by Democratic members of the Senate Health, Education, Labor and Pensions Committee. Last year Anthropic CEO Dario Amodei predicted that AI could displace about half of all entry-level white-collar jobs over the next five years, even as it drives productivity and growth to new heights. He reiterated that prognosis last week in a 20,000-word essay. Much of what he writes in this piece—on the dangers of crazy people and rogue regimes accessing powerful AI tools, and on the ill-advisability of selling semiconductors to China—is perceptive and interesting. His predictions about AI and the labor market, less so.
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Texas Energy Report NewsClips
Wednesday February 4, 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 extended gains on Wednesday after the U.S. shot down an Iranian drone and armed Iranian boats approached a U.S.-flagged vessel in the Strait of Hormuz, rekindling fears of an escalation in tensions between Washington and Tehran.
Warm forecasts sent the price natural gas down overnight, at 3 am Wednesday down about 3%.
West Texas Intermediate crude was up 63 cents, or 1.0%, at $63.84 per barrel.
Brent crude futures were up 56 cents, or 0.8%, at $67.89 per barrel at 0400 GMT.
Top Stories
Maritime Executive – February 3, 2026
Trump Administration Green-Lights Texas GulfLink SPM Project
Just weeks after taking over the federal environmental-review process for deepwater oil and gas terminal licensing, the U.S. Department of Transportation has approved a construction and operation license for Texas GulfLink, the first issued under the Trump administration. Texas GulfLink will be a twin single-point mooring facility located about 27 nautical miles off the coast of Brazoria County, Texas. It will be fed by a 42″ subsea pipeline to a manned offshore platform, where its operations will be overseen on-site in real time. It is backed by Sentinel Midstream.
Capt. Stephen M. Carmel, head of DOT’s Maritime Administration, said in a statement that the project will speed up exports of American oil to global buyers. “We are signaling to the global market that America is open for business. By approving projects like Texas GulfLink, we ensure that American oil producers aren’t halted by domestic bottlenecks,” he said.
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Bloomberg – February 3, 2026
Kuwait to Open Up Key Oil Fields, Pipelines to Foreigners*
Kuwait is planning to open up some of its oil fields to overseas firms and lease part of its pipeline network, a significant move by the OPEC member as it looks to position itself as a key investment destination in the Middle East. Kuwait Petroleum Corp. is pursuing a plan to invite international oil companies to assist its production arm, Kuwait Oil Co., in the development of offshore fields, Prime Minister Sheikh Ahmed Al-Abdullah Al-Sabah said at a conference in Kuwait. The deals are likely to be in deposits such as Jazah, Jlaiaa and Nokhitha, where Kuwait wants to boost production levels.
While the prime minister didn’t clarify what sort of investments international companies might be allowed, opening up the sector would likely draw interest from big firms as Kuwait looks for more than $30 billion to boost oil output capacity by about a third by 2035. TotalEnergies SE boss Patrick Pouyanne said at the same event that his company would be keen to work on oil expansion in the country, along with LNG and solar projects.
Global oil companies have been present in Kuwait for years, but mostly on technical service contracts. Sheikh Ahmed said the country would retain sovereign ownership of the resources in fields where overseas investments would be allowed. The framework for these new deals would be service-based contracts, KPC Chief Executive Officer Sheikh Nawaf Al-Sabah told reporters.
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Hobbs News – February 3, 2026
Permian Basin in dire need of power
The Delaware Basin of Southeast New Mexico is starving. Every economic development opportunity that could possibly come to New Mexico — from nuclear facilities, including upgrades at Urenco USA, to data centers — all need one thing: Power. And it is power New Mexico is lacking in spades. How much? Potentially as much as 20,000 megawatts of power, according to James Lackey, director of Customer Relations at Xcel Energy.
Lackey was one of two guest speakers at the New Mexico Energy, Minerals and Natural Resources Department’s Comprehensive Energy Transition Strategy workshop Wednesday in Hobbs. The meeting was the first of several going on around the state to identify paths forward to meet the state’s growing need for energy.
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CNBC – February 3, 2026
Oil giants brace for a bruising earnings season — with shareholder returns at risk
European energy giants face some tough choices this earnings season, with shareholder payouts seen at risk as they look to cut costs amid lower crude prices. Western oil and gas majors have long sought to keep investors happy through share buyback programs and dividends. But a multitude of industry headwinds, along with expectations for a particularly weak earnings season, have
Shell and TotalEnergies are both expected to report their lowest fourth-quarter profit in nearly five years when they publish earnings this month, according to an LSEG-compiled consensus of analysts. European energy companies find themselves in a “very difficult” market environment, with industry players likely to report lower quarterly profits and lower free cash flow, according to Atul Arya, vice president and chief energy strategist at S&P Global Energy.
The Latest TERse Tips
Blackstone, which is acquiring Texas-New Mexico Power, CEO among top donors to John Cornyn Super PAC — San Antonio Express-News*
ExxonMobil faces antitrust claims in Texas for launching a clean-energy project after blocking a rival company from a carbon dioxide pipeline network, according to a new filing in Texas Business Court — Clean Hydrogen Works LLC added Exxon as a defendant Monday to a year-old lawsuit against Exxon’s affiliate, Denbury Carbon Solutions LLC — Exxon, the amended petition says, pulled a “Rockefeller-style power play” by acquiring Denbury in late 2023 and making it end an agreement to let Clean Hydrogen Works use its carbon dioxide pipeline — Bloomberg*
Atmos Energy Corporation Reports Earnings for Fiscal 2026 First Quarter; Affirms Fiscal 2026 Guidance — see the press release
Enterprise Reports Fourth Quarter 2025 Earnings — see the press release
Marathon Petroleum Corp. Reports Fourth-Quarter and Full-Year 2025 Results — see the press release
The Railroad Commission of Texas (RRC) began 2026 by surpassing a major milestone: digitizing more than 100 million oil and gas records — Odessa American
ERCOT says it leaned on Texas’ 15 mobile generating units and an RMR unit during the state’s first major cold-weather event since 2021’s disastrous Winter Storm Uri — RTO Insider*
Anterix and CPS Energy on Tuesday announced a spectrum purchase agreement that will enable CPS Energy to deploy a mission-critical 900 MHz private wireless broadband network, marking a major step forward in strengthening grid operations, enhancing resiliency, reliability, and accelerating the digital transformation of the utility’s infrastructure — see the press release
Terra Energy, a residential solar subscription provider, has secured $35 million in green loan financing from Breakwall Capital, an energy specialist focused on providing direct lending solutions to middle-market and developing-energy companies — Mercom Capital Group
One worker suffered a minor injury when an LNG pipeline exploded in Cameron Parish, Louisiana, where the Sheriff’s Office tells KFDM crews are expected to let the fire burn itself out
Oil & Gas Texas
MarketWatch – February 3, 2026
Phillips 66 Reports FCC-Related Emissions at Borger Refinery: TCEQ — OPIS
Phillips 66 and Delek reported recent emissions-related activity at their Texas refineries, according to filings with the Texas Commission on Environmental Quality. Phillips 66 experienced a process upset at its 159,688 b/d Borger refinery in the Texas Panhandle on Friday, the company told TCEQ. The event triggered emissions from the fluid catalytic cracking unit, cat flare and GOHDS flare that lasted 14.5 hours.
Separately, Delek reported routine equipment maintenance at its 74,000 b/d Big Spring refinery in West Texas on Sunday, according to a TCEQ filing. The work is expected to result in emissions from the FCCU regenerator and crude, north, south and reformer flares and is scheduled to continue through March 23.
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Midland Reporter-Telegram – Febuary 3, 2026
Texas upstream employment ends 2025 little changed*
Despite the headwinds of low oil prices and falling activity, upstream oil and gas employment in Texas remained essentially flat in 2025. The Texas Oil & Gas Association released a report finding that through November 2025, upstream employment totaled 201,200 jobs, citing data from the Texas Workforce Commission. Employment declined by 3,500 jobs from October but year-to-date employment was little changed, with a net gain of 300 direct upstream jobs. Employment was also modestly higher than a year earlier, rising by 100 jobs.
“Reaching new production highs in multiple categories with employment essentially remaining steady is absolutely remarkable. Navigating these volatile circumstances is a vivid reminder: growth is not guaranteed,” Todd Staples, TXOGA president, said in a statement. “This resilience demonstrated by increased energy output in 2025 depends on policies that support infrastructure development and market flexibility so the oil and natural gas industry can adapt to uncertainty and continue delivering the affordable, reliable energy that powers our modern way of life.” Since the COVID-era low point in September 2020, Texas upstream oil and natural gas employment has increased by more than 44,000 jobs, a 28 percent gain, underscoring the industry’s continued role as a high-wage employer in the Texas economy, according to TXOGA’s report.
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Houston Chronicle – February 3, 2026
Houston loses thousands of oil and gas jobs—even while adding nearly 31,000*
For decades, Houston’s economy has been powered by oil and gas—a sector that shaped everything from job growth to skyline development and migration into the region. That engine is now cooling again. According to the Greater Houston Partnership’s January 2026 employment forecast, oil and gas employment in the Houston area is expected to shrink, even as the region adds tens of thousands of jobs overall. The metro area is expected to add about 30,900 jobs next year, pushing total employment to a record 3.52 million. But that growth is expected to come almost entirely from outside the energy sector.
The trend reflects a familiar pattern taking shape again: lower oil prices, corporate consolidation and efficiency gains are translating into fewer energy jobs, not more. The Partnership projects oil and gas extraction jobs will fall by about 3,200 positions in 2026. Manufacturing jobs—many tied to energy and petrochemical supply chains—could decline by another 3,400, while administrative and support roles, which often include energy services, are forecast to shrink by roughly 7,500 jobs. At the same time, health care, construction and education are expected to drive much of the region’s net job growth.
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Reuters – February 3, 2026
SLB wins $1.5 billion contract for Kuwait’s Mutriba field development*
Oilfield services provider SLB said on Tuesday it has been awarded a $1.5 billion contract over five years by Kuwait Oil Company for the development of the Mutriba field in the country. Oil producers in the Middle East, Africa and Asia are seeking to boost inventories, which is driving exploration and drilling activity in the region, and with it demand for oilfield services. In December, SLB received a five-year contract to supply Saudi Aramco services for the energy giant’s unconventional gas fields.
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Gas Compression Magazine – January 30, 2026
NextDecade’s LNG Megaproject Takes Shape
SIAD Macchine Impianti has supplied seven methane/ethane boil‑off gas compressors for the Rio Grande LNG project, a major export terminal under development by NextDecade in Brownsville, Texas. Construction of the facility began in July 2023, with Phase 1 targeted to enter service around 2027. Phase 1, representing 18 MTPA of liquefied natural gas (LNG) of capacity, includes three liquefaction trains, two LNG storage tanks, and a single marine berth. When fully developed, the five‑train complex will be capable of producing up to 27 MTPA of LNG.
NextDecade expanded the project in 2025, beginning construction on Train 4 in September and Train 5 in October. Each of these additional trains is expected to contribute approximately 6 MTPA to the terminal’s output.
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KOSA – January 30, 2026
West Texas leaders unite to combat rising oil theft in the Permian Basin
Oil theft in the Permian Basin is no longer just an isolated crime, leaders say it has become a multi-million dollar threat. With both oil and high-dollar equipment increasingly being targeted, losses are now reaching into the tens of millions of dollars. Today (1/30/25), state and federal officials gathered in Odessa to address the growing issue during a major roundtable discussion. One official called it a true all-hands-on-deck moment, a group effort to finally turn talk into action.
U.S. Congressman Tony Gonzales delivered a strong warning to those involved in oil theft. “The message from today should be, you should not steal oil from the Permian Basin, or you will be going to jail for a very long time,” said Gonzales. Leaders emphasized that better and more coordinated communication between federal, state, and local agencies is critical to stopping the crime. They say sharing information more efficiently will allow law enforcement on the front lines to respond faster and more effectively.
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Houston Chronicle – February 3, 2026
Fewer people are moving to Texas. We’re in trouble: Bill King*
Once upon a time, Texas could rely on oil and gas bouncing back. That’s because petroleum used to be the definition of a cyclical sector, moving from boom to bust. Texans of a certain age might remember 1980s-era bumper stickers that read: “God, please give me one more oil boom, and I promise not to piss it away this time.” But we may be reaching the end of the final cycle. Various studies estimate that the world will reach peak oil consumption somewhere between 2030 and 2050, with only limited demand growth leading up to that moment.
True, Texas’ economy relies less on oil and gas than we once did. We’ve enjoyed considerable success attracting other industries to the state. The tech sector in the Austin region is well recognized, and Elon Musk has relocated massive operations to Texas with Tesla and SpaceX. Despite all that, though, domestic migration to Texas has still shrunk.
Oil & Gas National & International
S&P Global Platts – February 3, 2026
Analysts see record-breaking US gas storage draw during winter storm
US natural gas market analysts expect the US Energy Information Administration to report a record-breaking storage withdrawal for the week ended Jan. 30, as severe cold caused upstream production freeze-offs and an intense spike in heating demand. Analysts surveyed by Platts, part of S&P Global Energy, predicted a consensus withdrawal estimate of 366 billion cubic feet for the upcoming EIA gas storage report. The EIA is scheduled to report its estimate Feb. 5.
If the predicted draw-down is accurate, it would mark the largest-ever recorded pull from US storage inventories, surpassing the prior record of 359 Bcf set in January 2018. A withdrawal this large would erase the US storage surplus.
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The Wall Street Journal – February 3, 2026
BP Investors Demand Proof That Shift Back to Oil and Gas Will Boost Returns*
BP needs to demonstrate that higher spending on oil-and-gas production will deliver value for shareholders, a group of investors in the energy major said Tuesday. BP is funneling investments into its traditional fossil-fuel business after a move into renewable sources of energy hit profits and led to multibillion dollar write-downs. The company reset its strategy February last year, has cut costs, and changed its leadership team in a bid to regain investor confidence that it can spend wisely and deliver higher returns. A shareholder resolution filed by U.K. and European pension funds, along with activist investor Australasian Centre for Corporate Responsibility, said the reset strategy and renewed focus on oil and gas doesn’t address the root cause of BP’s underperformance.
The co-filers, including the Greater Manchester Pension Fund, Nest and more than 100 individual shareholders, represent 0.42% of BP’s share capital. Their total stake was valued at more than $400 million as of Tuesday, according to LSEG data. The investors called on BP to take a more disciplined approach to capital expenditure and to offer more detailed disclosure that would allow investors “to better assess whether and how the company’s investment decision-making promotes disciplined capital allocation.” A representative for BP declined to comment.
Under its new strategy, BP is increasing oil-and-gas investment to around $10 billion a year for 2025 to 2027. This is 20% higher than previous guidance, and BP expects returns of greater than 15% on these projects. BP should better disclose how it assesses cost-competitiveness for each project and how it accounts for cost-overruns, and should explain how investment in exploration creates value for shareholders, the group said. The disclosures should be made no later than next year’s annual meeting of shareholders, the group said.
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CNBC – February 3, 2026
U.S. could issue general license for oil companies to produce in Venezuela this week, source says
The Trump administration could issue a general license as soon as this week for companies to produce oil and gas in Venezuela, a person familiar with the plan told CNBC on Tuesday. Chevron is the only U.S. company currently allowed to pump oil in Venezuela under a special license issued by the Treasury Department. Chevron has several joint ventures with state oil company Petróleos de Venezuela, or PDVSA.
President Donald Trump ss pressuring the oil industry to invest at least $100 billion to repair Venezuela’s energy industry after the U.S. captured former President Nicolás Maduro in a raid on Jan. 3. “The President’s team is working around the clock to ensure oil companies are able to make investments in Venezuela’s oil infrastructure. Stay tuned,” White House spokeswoman Taylor Rogers said in a statement. Bloomberg first reported the news.
Utilities, Electricity & Renewables
The Wall Street Journal – February 3, 2026
Siemens Energy to Spend $1 Billion to Boost Manufacturing of Electrical-Grid Equipment*
Siemens Energy plans to spend $1 billion to boost its manufacturing of grid and power-generation equipment in the U.S. as demand for electricity soars. The investments include restarting gas-turbine manufacturing, the key to turning natural gas into electricity, at an existing factory in North Carolina. The turbines are needed to supply reliable power for AI data centers but are in short supply because of the stunning and rapid upswing in power demand. Siemens Energy, along with GE Vernova and Mitsubishi Heavy Industries, is among the big gas-turbine makers that are riding the boom to power artificial intelligence. Orders and prices for the monster machines have soared, but executives in the highly cyclical business have expressed some uncertainty over how long the party will last.
The plans announced by Siemens Energy suggest that the cautious optimism continues. Its $1 billion investment also includes a new high-voltage switchgear plant and training center near Jackson, Miss., where Siemens Energy already has a factory, and expansions at existing facilities in Alabama, New York, Texas and Florida. More than 1,500 jobs will be created in all, the company said Tuesday. “It is the hottest electricity market in the world at the moment,” said Christian Bruch, chief executive of Siemens Energy, in an interview. About 60% of the company’s investment will go toward grid equipment such as transformers and switchgear, and 40% will be spent on the gas generation side of the business, he said.
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Bloomberg – February 3, 2026
Texas Considers Revisiting Some Data Center Grid Approvals*
Texas has so many massive AI-related data centers in development that its grid operator is now considering reevaluating some projects that were previously approved. The Electric Reliability Council of Texas wants to examine projects unlikely to advance and provide greater clarity for when new sites are ready to connect to its system. Projects historically have been approved by utilities but in recent years Ercot has had to determine how this flood of new users can be served without breaking the grid.
Under an Ercot proposal, projects representing about 8.2 gigawatts of power consumption — demand that would be satisfied by the equivalent of eight conventional nuclear reactors — could be subject to new review, said Trudi Webster, a spokesperson for the grid. Ercot acts as an air traffic controller governing the flow of power and making sure the grid isn’t overtaxed. Its proposal is a bet it can both remove kinks that have bogged down projects and not undermine the state’s AI boom, which it has cultivated with business-friendly policies, abundant land, cheap power and the promise of limited regulation.
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CBS News – February 3, 2026
Hundreds rally in Glen Rose against proposed 200‑mile power line project
Hundreds of residents packed into a meeting Tuesday night in Glen Rose, rallying against a proposed high-voltage power line project they fear could change the land surrounding Dinosaur Valley State Park.
The standing-room-only gathering comes amid months of discussion and debate over Oncor’s Dinosaur–Longshore Project, which would build 765-kilovolt transmission lines stretching more than 200 miles across Texas, from Somervell County west to Howard County. Oncor says the project is designed to meet the state’s growing demand for reliable electricity.
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Politico – February 3, 2026
One battery company’s plan for weathering Trump
It’s a tough time for many clean energy companies. But at least one firm is thriving in the Trump era. Base Power raised $1 billion last fall for its distributed battery business, a powerful vote of confidence from investors at a time of significant policy uncertainty in Washington. Then, last month, the Texas-based company hired Travis Kavulla — one of the country’s best-known electricity experts — as its head of policy.
Kavulla is a former Montana utility regulator who had been working at the power company NRG Energy. He sat down (virtually) with Power Switch on Tuesday for a conversation about what drew him to Base and why the company has found success even as President Donald Trump axes climate spending and policy.
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The New York Times – February 3, 2026
Why U.S. Car Companies Want to Make Giant Batteries (blog)
Batteries power electric cars, eliminating the need for a gas tank. But they can also be mounted on the wall of a home with rooftop solar panels, storing energy when the sun is shining and releasing it at night. At a larger scale, shipping-container-sized batteries do something similar for power companies, which charge batteries during the day when electricity is cheap and discharge them onto the grid when prices spike in the evening. When Democrats passed the Inflation Reduction Act in 2022, the legislation included generous incentives aimed at fostering a domestic battery-making supply chain to compete in the global market, which is currently dominated by China. Companies hatched plans to open battery factories in the United States. …
Right now, there’s room for growth in the domestic grid-scale battery industry, Weis said, though the market is competitive. By 2030, demand for grid-scale batteries is projected to be more than six times what domestic manufacturers produced last year, according to Wood Mackenzie. The question is whether companies like Ford and Tesla will be able to move fast enough and efficiently enough to compete with makers like Korea’s LG Energy Solution, which is already producing grid-scale batteries at a factory in Michigan.
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Oklahoma Living – February 3, 2026
A new era of energy demand: OK
The buzzword nowadays is data centers. We see it on our social media feeds, read it on headlines and hear stories. What exactly are data centers and what is the buzz about them? Data centers are facilities that house networks of servers providing data storage and processing power, wiring an increasing digitally connected world. Behind everyday tasks such as a Google search, an Amazon purchase, streaming a movie or using artificial intelligence are data centers powering these digital tasks. By nature, data centers require a lot of electricity and are considered large loads.
Serving large loads is not new for electric cooperatives, which have long provided power to agricultural, commercial and industrial members in addition to the base of residential members. What is new is the scale and speed of growth. Across Oklahoma and the nation, electric cooperatives are entering a new era of load growth driven primarily by large loads such as data centers, industrial expansion and the electrification of transportation.
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Utility Dive – February 3, 2026
Transmission planning, development improved since 2023 in most US regions: report
Transmission planning and development is improving in most parts of the United States, driven by new federal planning requirements, according to a report released Tuesday by Americans for a Clean Energy Grid. New England’s grade jumped to a “B” from the “D+” it received in the benchmark report ACEG issued in 2023. However, the grade for Texas slipped to a “D-” from a “D+” two years ago, and the grade for the Southeast remained unchanged at “F.”
“In the Southeast, a key hurdle for regional transmission planning is the lack of access to information and transparency,” Grid Strategies, which wrote the report, said. “Beyond the projects under development in Georgia, there is resistance to building large, high-voltage transmission.”
Regulatory
Inside Climate News – February 3, 2026
EV Charging Program Faces the Axe in Budget Bill
A budget bill moving through Congress this week would defund a 5-year-old program designed to expand electric-vehicle charging stations. The National Electric Vehicle Infrastructure, or NEVI, program got off to a slow start and had spent only a small share of its budget when the Trump administration took office a year ago and sought to claw back funding.
Now, NEVI is facing a $500 million reduction, part of a larger package totaling about $900 million in proposed cuts related to electric transportation. This would be a major step back for EV charging, but it’s an afterthought in a budget debate that has been more about immigration enforcement rules and avoiding a government shutdown.
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Texas Energy Report NewsClips
Tuesday February 3, 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 fell on Tuesday, easing for a second day, as market participants weighed the possibility of a de-escalation in U.S.-Iran tensions, while a firmer dollar placed greater downside pressure on prices.
West Texas Intermediate crude was at $61.83 per barrel, down 31 cents, or 0.5%.
Brent crude futures fell 39 cents, or 0.5%, at $65.91 per barrel at 0330 GMT.
Oil prices fell more than 4% on Monday after U.S. President Donald Trump said Iran was “seriously talking” with Washington, signaling a de-escalation of tensions with the OPEC member.
Iran and the U.S. are expected to resume nuclear talks on Friday in Turkey, officials from both sides told Reuters on Monday, and Trump warned that with big U.S. warships heading to Iran, bad things could happen if a deal was not reached.
Top Stories
Yahoo! News – February 2, 2026
Devon Agrees to Buy US Shale Rival Coterra for $21.4 Billion
Devon Energy Corp. agreed to acquire Coterra Energy Inc. for about $21.4 billion in stock to create one of the world’s biggest shale companies as dwindling drilling sites spur producers to consolidate.
The deal calls for Coterra stockholders to receive 0.7 Devon shares for each share they own, according to a statement Monday. It amounts to a roughly 12% premium for Coterra investors based on the stock value in mid-January before news broke that the companies were in talks, but it’s a slight discount to Friday’s closing price, according to energy data platform Enverus.
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Fortune – February 2, 2026
Buried in large, underground salt caverns along Texas and Louisiana’s coast, the world’s largest supply of emergency crude oil has been an invaluable resource for the U.S. For five decades, the Strategic Petroleum Reserve has helped the U.S. government conduct foreign policy and calm markets and prices at the pump in the event of supply disruption. Such is the SPR’s importance that the Trump administration is set to build another reserve of that ilk, this time to stockpile a resource some analysts and politicians have referred to as the new oil and gas: rare earths.
President Donald Trump is planning a critical minerals stockpile known as Project Vault, Bloomberg reported on Monday, citing senior administration officials. The plan will combine a $10 billion loan from the U.S. Import-Export Bank with $1.67 billion in private capital, according to the report. A White House spokesperson confirmed to Fortune that the plan existed. A stockpile is only the latest step Trump has taken to keep critical minerals flowing for American industries, as the administration has made the secure supply of critical minerals a core component of its manufacturing and foreign policy strategy. …
In the same way that a small club of petroleum-producing states triggered an oil supply crisis in the 1970s, analysts have worried that the supply chain around critical minerals is making the U.S. similarly vulnerable in the 2020s, given that China controls the vast majority of both production and processing capacity that underlies these materials. Critical minerals refer to a wide range of raw materials including cobalt, lithium, and gallium, as well as so-called rare earth metals that generally appear in low concentrations and can be complex to mine. These minerals are essential to building advanced electronics and fundamental to modern industries such as carmaking, computing, and energy. The stockpile will store minerals for U.S. automakers and tech companies, according to Bloomberg’s report, which mentions several large U.S. firms that have signed on to participate, including Google, General Motors, and Boeing.
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KUHF (NPR Houston) – February 2, 2026
The Trump Administration exempts new nuclear reactors from environmental review
The Trump Administration has created an exclusion for new experimental reactors being built at sites around the U.S. from a major environmental law. The law would have required them to disclose how their construction and operation might harm the environment, and it also typically required a written, public assessment of the possible consequences of a nuclear accident. The exclusion announcement comes just days after NPR revealed officials at the Department of Energy had secretly rewritten environmental, safety and security rules to make it easier for the reactors to be built.
The Department of Energy announced the change Monday in a notice in the Federal Register. It said the department would begin excluding advanced nuclear reactors from major requirements of the National Environmental Policy Act (NEPA). The act calls on federal agencies to consider the environment when undertaking new projects and programs.
The Latest TERse Tips
Texas land commissioner primary: Who is running and what you need to know — KPRC
The Bureau of Land Management has opened a 30-day public comment period to receive public input on plans to include 74 oil and gas parcels totaling 33,530 acres in New Me
SpaceX, xAI Tie Up, Forming $1.25 Trillion Company — the merger puts Elon Musk’s rocket and artificial-intelligence companies under one roof — The Wall Street Journal*
Platts, part of S&P Global Energy, has launched a daily North American series of Power Purchase Agreement (PPA) price assessments, effective Feb. 2, 2026 — S&P Global Platts
Construction sites across Bryan and College Station are facing a growing threat as thieves target electrical breakers, leaving contractors worried and projects at risk, driven by the price of silver — KXXV
Fitch Ratings has affirmed nine North American electric transmission and distribution companies’ ratings. These actions follow the update of Fitch’s “Corporate Rating Criteria” and the “Sector Navigators Addendum to the Corporate Rating Criteria” on Jan. 9, 2026 — Fitch
Future of $2 trillion megacity The Line hangs by thread as Saudi rulers scale back plans for scandal-hit vanity project — The US Sun
A Republican donor and Texas oil executive is lobbying against bipartisan legislation imposing sanctions on pro-Russian, anti-democratic officials in the country of Georgia, according to a letter obtained by The Hill — Steve Nicandros, chairman and CEO of a Houston-based energy company claiming more than half a billion dollars of investments in Georgia, sent a letter to at least one Republican House member this month calling for opposition to the MEGOBARI Act
Oil & Gas Texas
Bloomberg – February 2, 2026
Before the Crash, Oil and Gas Drillers Pounced on Price Rise*
Shale drillers engaged in record hedging amid soaring energy prices in the days and weeks preceding the worldwide commodities crash. AEGIS Hedging Solutions LLC, which conducts trades that cover about one-fourth of US oil and natural gas production, saw its busiest week for gas as the polar vortex sent demand and prices for the fuel sky high. As for crude, AEGIS clocked its biggest month since mid-2025, during the height of the Iran-Israel conflict, according to Jay Stevens, director of market analytics at the firm.
The decision to hedge couldn’t have been more prescient. When markets opened Monday, European and US traders were greeted by screens of red as a general collapse in commodities that kicked off in Asia swirled around the globe. Oil futures nosedived in London and New York as geopolitical tensions between the US and Iran appeared to ease. European gas plunged as much as 14% while US futures fell the most since 1995. Metals and some agricultural markets also dropped. Energy companies, brokers, manufacturers and speculators employ hedging instruments such as swaps, options and futures to lock in profits or shield future supplies from potential losses.
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Fox News – February 2, 2026
Chevron CEO details strategy to shield consumers from soaring AI power costs
He said the company is leveraging the “tremendous resource” of U.S. natural gas to generate power directly for hyperscale data centers, bypassing the traditional electric grid and insulating the public from higher electricity costs. “This is another advantage where you can convert energy into intelligence, and the abundance of energy that this country has can translate not only into energy dominance but into AI dominance,” Wirth told Maria Bartiromo.
Chevron revealed plans in 2025 to develop an off-grid natural gas facility in West Texas designed to generate electricity for large-scale data centers without relying on the traditional power grid. The company previously announced a partnership with activist investment firm Engine No. 1 and GE Vernova to explore natural gas-powered solutions aimed at supporting the rapid expansion of AI and data center infrastructure in the United States.
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Reuters – January 30, 2026
Exxon CEO says first LNG at Golden Pass expected in March
“That venture has done a really good job of recovering from the bankruptcy,” Woods said during Exxon’s fourth-quarter earnings call with analysts. “My expectation is we will see first LNG produced in very early March.”
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Texas Border Business – January 30, 2026
Texas Upstream Sector Adds 2,000 Jobs to Close Out 2025
Citing the latest Current Employment Statistics (CES) report from the U.S. Bureau of Labor Statistics (BLS), the Texas Independent Producers and Royalty Owners Association (TIPRO) highlighted new employment figures for the Texas oil and natural gas industry. According to TIPRO, employment in the Texas upstream sector increased between November and December 2025, with oil and natural gas extraction jobs rising by 500 to 70,200 (+0.7 percent m/m), while support activities employment grew by 1,500 to 133,200 (+1.1 percent m/m). Combined upstream employment increased by 2,000 jobs to 203,400 (+1.0 percent m/m), reported TIPRO.
From January to December 2025, employment in the Texas upstream sector showed early gains followed by later fluctuations, noted TIPRO. Oil and Gas Extraction added a net 2,000 jobs (+2.9 percent), reaching a peak of 70,200 in June, July, and December, driven by robust Permian production despite market pressures.
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The Wall Street Journal – January 30, 2026
Chevron CEO Says It’s Too Early to Determine Venezuela Outlook*
Chief Executive Mike Wirth said Friday that it is too early to determine the company’s long-term outlook on Venezuela, in some of his first public comments since the U.S. incursion that culminated in the capture of strongman Nicolás Maduro. President Trump is pressing Chevron (the only major U.S. oil company currently active in the country), Exxon and other companies to pump $100 billion into oil projects in Venezuela to rebuild its shattered infrastructure. Most companies don’t want to rush into the country before the Trump administration and the Latin American country’s current government offer security guarantees and create a workable financial and legal framework for new projects.
Chevron is looking to see stability in the country and favorable fiscal terms, among other conditions, before laying the groundwork for sizable new investments there, Wirth said during Friday’s earnings call. “There’ll be a number of signposts that we’ll be watching,” he added. “It’ll have to compete in our portfolio versus attractive investments in many other parts of the world. With the right changes, we certainly could see our operations in the footprint expand in Venezuela.” Chevron and Exxon on Friday both reported their smallest annual profits since 2021, pressured by a growing glut of crude that has weighed on prices. Oil prices began sinking shortly after Trump returned to office and urged the Saudi Arabia-led Organization of the Petroleum Exporting Countries to boost oil production in an already well-supplied global oil market. U.S. oil prices ended 2025 down 20% at $57.42 a barrel and have since climbed back near $64. Trump has suggested that he wants to drive oil prices down to $50 a barrel. Some in his administration saw opportunity in Venezuela: If large oil companies revitalized the country’s dilapidated oil industry, additional production could help bring oil prices down further.
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The New Yorker – January 21, 2026
The Battle for One of the Richest and Smallest Counties in Texas*
Loving County, in northwest Texas, may have the highest trouble-to-resident ratio in the United States. With sixty-four inhabitants, as of the 2020 census, the county is the least populated in the country. Control of its top elected positions—sheriff, judge, constable, county clerk—can be swung by a handful of votes. Many of those vying for power are related to, and estranged from, their opponents. Election results are regularly challenged by the losing candidate, sometimes repeatedly; this past November, Loving County reran three races from its 2022 elections.
Driving the long, empty roads that lead to the county seat, Mentone, an outsider might wonder what all the fighting is for. This part of the state is mostly scrubland, alternately windswept and sunbaked. Roy Orbison spent part of his childhood in Wink, a city close by, and got out as quickly as he could. “There was a lot of loneliness in West Texas where I grew up,” Orbison told an interviewer. “We used to say it was the center of everything, five hundred miles from anything.” He once said, “It was tough as could be, but no illusions, you know? No mysteries in Wink.” The area is known for brutal heat with little relief; a town just up the road is called, aptly, Notrees. But Mentone is situated near the center of the Permian Basin, the nation’s most productive oil-and-gas field. As many as fifteen thousand oil-and-gas workers pass through the county daily, and the industry has made Loving County one of Texas’s richest jurisdictions per capita, thanks in part to the fracking boom. Tax revenue amounts to roughly a million dollars per resident, and the county budget has more than doubled since 2020. Many county jobs, including paramedic, maintenance technician, and clerk, come with six-figure salaries.
Yet Mentone has no church, grocery store, cemetery, or school. What it does have is a legacy of enmity stretching back decades. In the twentieth century, several families—the Hoppers, the Creagers, the Joneses—competed for control of the town. When Pamela Colloff surveyed the county’s “spiteful, tribal politics” for Texas Monthly, in the mid-nineties, she found elections that were “knock-down-drag-out fights” animated by “the tangled web of family rivalries, personal vendettas, and enduring grudges among locals.” Some of those clans have since dwindled or decamped for more populated areas. But the habit of feuding remains, though these days it’s largely confined to infighting between factions of the Jones family. “If we had a movie theatre, or a mall, or five thousand people, or even one thousand people, things would be radically different,” Steve Simonsen, the county attorney, told me. “There’s not anything else to occupy people.”
Oil & Gas National & International
Reuters – February 2, 2026
US extends protection of Venezuela-owned Citgo from creditors*
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The developer of the giant Alaska LNG project said it has completed several preliminary agreements to advance the project, with pipeline manufacturers and builders, as well as gas suppliers and buyers.
Brendan Duval, chief executive of Glenfarne, told reporters in a virtual meeting Thursday that the agreements will set the stage for potential investors and lenders to enter the project. After the company’s announcement, Gov. Mike Dunleavy praised the project in his State of the State speech, calling it “closer to reality than ever.”
The Interior Department released a plan in November to massively expand offshore oil and gas drilling in U.S. waters — and nearly 5,000 people and organizations had something to say about it over the past two months. Industry groups filed comments saying they would be happy to see more energy production on the outer continental shelf, while environmental groups raised concerns about massive oil spills that could wreck miles of coastline.
The Trump administration’s proposal would allow drilling off parts of California that have long been exempt from oil production, while also expanding drilling opportunities closer to Florida in the Gulf of Mexico. The plan would also offer new areas in the Arctic Ocean, north of Alaska. The proposal from Interior’s Bureau of Ocean Energy Management lays out a timeline for a slate of oil and gas lease sales
Energy Now – January 23, 2026
Mexico Weighs Stopping Oil Shipments to Cuba Amid Concerns of Trump Retaliation
The Mexican government is reviewing whether to keep sending oil to Cuba amid growing fears within President Claudia Sheinbaum’s administration that Mexico could face reprisals from the United States over the policy, which is a vital lifeline for the Communist-run Caribbean island, according to three sources familiar with the discussions.
A U.S. blockade of oil tankers in Venezuela in December and the dramatic capture of President Nicolas Maduro this month have halted Venezuelan oil shipments to Cuba, leaving Mexico as the single-largest supplier to the island that suffers from energy shortages and mass blackouts. Mexico’s pivotal role in sending oil to Cuba has also put the U.S.’ southern neighbor in Washington’s crosshairs.
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Yahoo! News – January 26, 2026
The Looming LNG Glut and What It Means for Global Energy Prices
As several countries invest in expanding their liquid natural gas (LNG) production and export capacity, and significant quantities of the gas are expected to come online in 2026 after a record 2025, supply could soon outpace demand. This begs the question: just how much LNG is needed to “fill the gap” as the world develops its renewable energy capacity? Last year was a record year for LNG trade, as exports exceeded the quantities predicted in several industry forecasts.
The expansion of the world’s LNG trade has been led by the United States, which exported over 100 million metric tonnes of LNG in 2025. This was driven by several new plants coming online across the country. The U.S. exported an estimated 111 million metric tonnes (mmt) of LNG in 2025, 23 mmt more than the previous year and far higher than Qatar’s 20 mmt, the world’s second-largest exporter, according to the data analysis firm LSEG.
Utilities, Electricity & Renewables
Utility Dive – February 2, 2026
Gas, electricity prices spiked year over year in November: EIA
The average residential price of electricity rose 5.5% in November, to 17.78 cents/kWh, compared with the same month the prior year, while the price of gas at the Henry Hub rose 88.5%, to $3.79 per million British thermal units, in the same period, according to a monthly update from the Energy Information Administration. Coal consumption also rose 17.9% in November year over year, EIA said, and total net generation rose 3.9%, to 334,779 thousand MWh.
Per kilowatt-hour, 46 states and the District of Columbia saw higher rates in November, EIA said. On a national basis, electricity rates rose 6.8% year over year. In D.C. they rose the most, increasing 25.9%, followed by Pennsylvania and Ohio, where they rose 20.3% and 18.6%, respectively.
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Houston Chronicle – February 2, 2026
‘A vast improvement’: Houstonians weigh in on CenterPoint’s performance in the recent freeze*
David Bradley, Harris County:If we’re gonna dog CenterPoint when things go bad, it’s only fair to give them some credit when things go well. There’s an old saying about how you make your own luck. Probably applies here. Let’s gather up all the Texas legislators and meet at The Pond for some celebratory drinks!
Chip Gille, Harris County: Lost power for three hours. No wind blowing, no ice on the lines. Can’t wait for a major storm!
Larry Dawson, Harris County: In our neighborhood, CenterPoint has been quite active in recent weeks, trimming trees that overhung power lines. It’s hard to say the exact impact of this work since we did not have the ice that was in the forecast, but I would like to commend CenterPoint for their proactive work.
Connie Oden, Harris County: A vast improvement from last time.
Bennie Cernoch, Harris County:I think they got lucky. I’ve been losing power when the wind blows a little bit. Also, I saw a notification from them about conserving natural gas now during the storm. What the….? A bunch of friends and I have just bought expensive whole-house generators that run on their gas. Will that not run and provide backup electricity when CenterPoint’s power shuts off? Geez, a double whammy! Sounds like someone needs to look into the gas supply situation along with the power supply!
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The Hill – February 2, 2026
Courts allow all five offshore wind projects blocked by Trump to resume construction
A federal court on Monday halted the last of five stop work orders issued by the Trump administration in December to block major offshore wind farms, giving the wind energy industry five legal wins in a row over the government. Reagan appointee Royce Lamberth granted an injunction against the administration’s stop work order against Sunrise Wind, a project that would provide power to New York.
In recent weeks, courts have issued similar injunctions against stop work orders the administration issued to four other projects. Monday’s ruling means that all of the orders issued by the administration in December have been halted and all of the wind farms it aimed to block can keep building. “With this decision, courts have now consistently rejected the government’s abrupt attempt to halt construction on these fully permitted projects,” said Hillary Bright, executive director of pro-wind group Turn Forward, in a written statement.
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The New York Times – February 2, 2026
Fear and Anger Grow as Thousands Remain Without Power in the South*
The flurries, for a brief time, fell again on Sunday. The snow landed on piles of jagged branches and sawed stumps, tangled power lines and the tens of thousands of people who have now gone a week without power or heat after a widespread ice storm knocked out power lines across the region. By Sunday, the weeklong paralysis from the storm across Tennessee, Mississippi and Louisiana had given way to weariness, anger and fear about how much longer thousands would be struggling to stay warm and fed without power. At least three dozen people have died across the three states in connection with the storm, officials have said.
Hurricanes and tornadoes, particularly in the South, often cause prolonged power outages, and residents are accustomed to going days without electricity. But it is rare to experience a loss of power during a sustained stretch of ice and freezing temperatures, with cold so fierce that it has left hundreds of workers struggling to navigate icy roads as they try to fix the electrical system. Anger was continuing to boil over toward the leadership of the Nashville Electric Service. The utility has struggled for days not only to restore power across the city and surrounding county, but also to accurately communicate to customers the scope of the repairs and the timeline needed to complete them.
Nashville accounts for a majority of the power outages in Tennessee, with about 33,000 customers still without power as of early Sunday afternoon. On Saturday, the agency acknowledged that it may take at least another week for some neighborhoods to return to full power, with at least one ZIP code predicted not to see full service restored until Feb. 11. “Nashvillians are justifiably angry,” Mayor Freddie O’Connell of Nashville, a Democrat, said in a statement. “It is critical to the life, safety and well-being of our residents that N.E.S. use every tool at their disposal to increase the pace, improve communication and get Nashvillians’ power back on.”
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The Wall Street Journal – February 2, 2026
U.S. Cold Snap Kills Dozens and Leaves Thousands Without Power*
Dozens of people have died and thousands of customers are still without power nearly a week after a sprawling winter storm blanketed much of the U.S. with extreme cold, ice and snow. The storm, known as a “bomb cyclone,” has been blamed for dozens of deaths. Southern states have struggled to recover from the paralyzing storm, with power outages still affecting more than 115,000 customers. At least 60 million people were under National Weather Service warnings Monday, covering extreme cold and winter weather conditions.
The Arctic air that has engulfed the Eastern and Southern U.S. has resulted in a rare situation in which it is colder in Florida than Montana, the weather service said. A warming trend is forecast to move across the Southeast starting Tuesday, producing warmer than usual temperatures for the region. But temperatures in Florida will remain below normal and a surge of arctic air will blow across the Great Lakes and into parts of the Midwest by Tuesday and Wednesday.
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Reuters – January 28, 2026
Westinghouse megadeal set to revitalize nuclear supply chain*
An agreement in October between the U.S. federal government and Westinghouse owners Brookfield Asset Management and Cameco was a key step by the Trump administration towards its goal of increasing nuclear capacity from around 100 GW today to 400 GW by 2050. The deal calls for 10 new large reactors under construction by 2030. “We’ve eliminated the AP1000’s first-of-a-kind challenges and the American nuclear supply chain is ready now, following the completion of two AP1000 units at Plant Vogtle in Georgia,” said Brian McCrone, communications manager at Westinghouse, referring to the last two pressurized water reactors (PWRs) built in the U.S., which were brought online in 2023 and 2024.
The supply chain is “capable of handling multiple projects simultaneously,” he told Reuters Events. In June 2025, the Nuclear Regulatory Commission (NRC) extended the duration of the AP1000 standard design certification to 40 years, with an expiration date of February 2046. … Cameco said that under the deal, the government will provide near-term financing of long lead time items, which include Reactor Pressure Vessels (RPVs), steam generators, and coolant pumps.
Regulatory
JD Rupra – December 10, 2025
Texas takes the reins on Class VI carbon sequestration wells: McGinnis Lochridge
The EPA’s November 2025 approval granting Texas primary enforcement authority over Class VI injection wells fundamentally changes who controls permitting of carbon capture and sequestration projects across the nation’s largest oil and gas state. For the 64 pending permit applications now transferring from federal to state oversight, this should improve permitting timeliness and accelerate projects tied to 45Q tax credits.
Texas became the sixth state to secure Class VI primacy, joining North Dakota, Wyoming, Louisiana, West Virginia, and Arizona. The Railroad Commission of Texas (RRC) assumes authority on December 15, 2025.
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Texas Energy Report NewsClips
Monday February 2, 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
Top Stories
Houston Chronicle – January 30, 2026
Who benefits if Wall Street buys your utility? Texas-New Mexico Power customers could soon find out*
With its own coop of egg-laying hens in the parking lot, Stanton’s Shopping Center feels like “the last of the dinosaurs” as other local general stores have disappeared, says Allen Stanton, the shop’s soft-spoken, fourth-generation owner. To compete with the likes of Walmart, Amazon and H-E-B, the century-old store between Houston and Galveston created a niche as a unique meat market, Stanton said. Whatever Texans hunt, his team can turn into sausage or special cuts — deer, alligator or even the occasional emu.
Processing and storing all this meat requires cheap and reliable electricity. The “big boys” have backup generators, but the family-owned business can’t afford that, Stanton said. Fortunately, local utility Texas-New Mexico Power quickly restores any power outages that do occur, he said. “If that service goes away, it’d be an economic hit, maybe even to the survival of the business,” Stanton said. Stanton and some Texas-New Mexico Power customers are indeed worried about potential changes to their local power company, as Wall Street eyes the utility as a lucrative investment in futuristic artificial intelligence.
Blackstone has touted the deal as part of its strategy to invest in “the critical enablers of AI.” Data centers use lots of electricity to develop AI — and Texas could see a greater influx of data centers than anywhere else in the country. Texas-New Mexico Power has said the acquisition will give the utility the financial resources it needs to serve the growing energy needs of its customers, which are scattered along the Gulf Coast, the Dallas area and around Pecos in West Texas. The utility would remain headquartered in Texas and led by local management.
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Connect Money – January 30, 2026
Blackstone Energy Transition Arm to Acquire Arlington Industries
Blackstone and Arlington Industries, Inc. announced that funds managed by Blackstone Energy Transition Partners have agreed to acquire Arlington, a U.S.-based designer and manufacturer of electrical products.
Founded in 1949, Arlington designs and manufactures a broad range of electrical fittings, enclosures, and related components used across commercial, industrial, and data center facilities. The company has built a strong reputation among electrical contractors for reliability and innovation, positioning it to benefit from rising investment tied to electrification and digital infrastructure.
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Inside Climate News – January 29, 2026
Developer Calls GW Ranch in Pecos County, Texas, the ‘Largest Power Project’ in U.S.
Texas’ environmental regulator this week issued the largest air pollution permit in the country to an enormous planned complex of gas power plants and data centers near the oilfields of the Permian Basin, according to an announcement from the project’s developers. Pacifico Energy, a global, investor-owned infrastructure company, called its 7.65 gigawatt GW Ranch in Pecos County “the largest power project in the United States” in a press release this week.
It’s among a handful of similarly colossal ventures announced during 2025 that have made Texas the global epicenter of a gas power buildout, according to data released Thursday by Global Energy Monitor (GEM). “Massive fossil fuel infrastructure is being developed, often directly at the source of gas supply, in order to feed speculative AI demand,” said Jenny Martos, project manager for GEM’s Global Oil and Gas Plant Tracker.
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Utility Dive – January 29, 2026
NextEra bets on gas as data center pipeline remains steady at about 15 GW
NextEra Energy is doubling down on its strategy of investing in gas to serve hyperscalers as its development pipeline remained fairly stable last quarter, according to its latest earnings report. Executives said on a quarterly earnings call on Tuesday that they are still planning to deliver about 15 GW of new generation to data center power supply “hubs” by 2035, 6 GW of which will come from new gas-fired resources. …
NextEra Energy Resources, the company’s development arm, has also been on a bit of a buying spree for gas infrastructure lately. Company leaders said it had closed its acquisition of natural gas supplier Symmetry Energy Solutions on Jan. 9, and 10 days later bought a portion of Consolidated Edison’s interest in the Mountain Valley Pipeline.
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Inside Climate News – January 31, 2026
The Promising Renewable Energy That Democrats and Republicans Actually Agree On
As brutal cold has gripped much of the U.S. and increased heating demands, natural gas prices have soared as much as 60 percent. But the day-to-day cost of geothermal heating is steady as a rock. Geothermal uses pipes and liquid (often water) to tap the Earth’s steady temperature of around 55 degrees underground, using heat pumps to extract heat from the rocks for warming and pumping it back underground for cooling.
Unlike the political divide over wind and solar renewable energy sources, there is strong bipartisan support for geothermal systems. Proponents include U.S. Secretary of Energy Chris Wright, the former CEO of a company that has invested millions in geothermal energy. Phil McKenna of Inside Climate News has reported extensively on geothermal energy. This interview has been edited for length and clarity.
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The Latest TERse Tips
Permian Basin road fatalities drop nearly 14 percent in 2025 — Permian Proud
Trump Moves to Cut Off All Oil to Cuba as U.S. Takes Aim at Its Government — President Trump’s threat to impose tariffs on any country that delivers oil to Cuba appeared to be directed largely at Mexico, the only nation that has sent any meaningful fuel shipments to the island — The New York Times*
U.S. crude output is expected to be down 379,000 barrels per day in the lower 48 states for the month of January, according to consultancy Rystad, as operators kept restoring production after a winter storm knocked off up to 2 million bpd of output last weekend — Energy Now
Platts revises Carthage Hub natural gas index methodology — S&P Global Platts
PEC returned $10 million to members in January — see the press release
Freeport LNG’s export plant in Texas was on track to take in more natural gas on Friday in a sign that one of its three liquefaction trains was likely back in service after shutting down on Thursday, data from LSEG showed — Energy Now
Texas Royalty Brokers has released a new research analysis examining how artificial intelligence is reshaping U.S. electricity demand and why natural gas is emerging as a critical near-term source of reliable power as AI infrastructure scales — see the press release
Fitch Upgrades SM Energy to ‘BB+’; Off Rating Watch Positive; Outlook Stable — Fitch
On January 29, 2026, Oncor Electric Delivery Company, 80.25%-owned by Sempra Energy, filed an unopposed settlement in its comprehensive base rate review in Texas, seeking approval for an annual revenue requirement of about $6.975 billion, representing an 8.8% increase and an estimated annualized revenue uplift of roughly $560 million over adjusted present revenues, alongside an updated capital structure of 56.5% debt and 43.5% equity, a higher authorized return on equity of 9.75%, and a higher authorized cost of debt of 4.94% — Globe and Mail
In 2026, virtual power plants must scale or risk being left behind — the AI data center frenzy is shifting utilities’ focus to large-scale generation. But advocates say flexible, distributed energy resources still provide the biggest bang for the buck — Utility Dive
Australia’s largest energy producer Woodside Energy has flagged a decrease in production for 2026 after reporting record annual production of 198.8 million barrels of oil equivalent (boe) in 2025 — Petroleum Australia
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Oil & Gas Texas
Oil Price – January 30, 2026
US Oil Drilling Continues to Flounder
The RRC noted in the statement that crude oil and natural gas production for October 2025 came from 157,228 oil wells and 84,019 gas wells — Rigzone
The total number of active drilling rigs for oil and gas in the United States rose by 2 this week, according to new data that Baker Hughes published on Friday, bringing the total rig count in the US to 546 this week, down 36 from this same time last year. The number of active oil rigs stayed at 411 during the latest reporting period, according to the data. This is 68 below this same time last year. The number of gas rigs rose by 3, reaching 125, which is 27 more than this time last year. The miscellaneous rig count slipped by 1 and now is at 10.
The latest EIA data showed that weekly U.S. crude oil production fell again this week, by 36,000 bpd in the week ending January 23, to 13.696 million bpd on average, 166,000 bpd under the all-time high.
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Inside Climate News – January 31, 2026
As freezing temperatures swept over West Texas last week, leaky pipeline systems in the Permian Basin of West Texas began to suck in air, spoiling their products, risking an explosion and leading operators to release or burn off vast volumes of gas. Chevron, for example, reported 11 large gas releases as it sought to purge oxygen from its tanks, according to filings with the Texas Commission on Environmental Quality. Chevron estimated that it released more than 125,000 pounds of regulated pollutants in incidents during the storm. In some cases, Chevron’s tank hatches “remained frozen open,” allowing gas to vent freely for days at a time.
All of the incidents were “directly related to the severe winter weather disaster proclaimed by Texas Governor Greg Abbott,” the company wrote in its reports. In a statement to Inside Climate News, a Chevron spokesperson said the company followed its “winter weather action plans to enable safe, reliable and sustainable operations,” and that safety is its top priority.
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Houston Chronicle – January 30, 2026
Chevron and Exxon Mobil, Houston’s oil majors, take rival stances on Venezuelan oil as profits drop*
Related: Exxon, Chevron report annual profit declines as oil prices weigh on industry giants — Yahoo! News
Chevron and Exxon Mobil, Houston’s two largest oil companies, gave investors rival takes on the Trump administration’s controversial Venezuelan oil play while announcing lower profits for 2025. Chevron’s chief executive, Mike Wirth, said that he sees a potential 50% increase in its current Venezuelan output over the next two years, while Exxon left Venezuela out of its official 2030 plans completely. Weak crude prices produced the lowest annual profits in years for 2025 at both companies, despite record production across their portfolios in Texas, Guyana, and elsewhere.
President Donald Trump has pushed for the U.S. oil industry to invest at least $100 billion in Venezuela’s oil fields, thought to be the largest in the world. In calls with investors and analysts, both companies praised the administration for the steps taken since ousting Venezuelan President Nicolás Maduro Jan. 3, but added that a lot of work remains to be done. The Venezuelan regime nationalized the oil industry in 2007, driving ConocoPhillips, Exxon and others to leave the country. Both Conoco and Exxon are still owed billions from the move. Chevron, however, has maintained baseline operations in the South American country. It operates under a special license issued by the Treasury Department and would need approval before increasing production and refining efforts.
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Midland Reporter-Telegram – January 31, 2026
Oil and gas production rebounds after Winter Storm Fern*
Winter Storm Fern had its expected impact on energy production and markets. The frigid weather sparked a 110% rally in Henry Hub natural gas prices and a reduction in oil and natural gas production. According to an analysis put together by the Texas Oil and Gas Association, Texas production declined 7% to 10% while electric demand surged 40% during the storm.
From Jan. 22 to Jan. 26, thermal and other dispatchable resources supplied up to 92% of ERCOT generation, including roughly 70% from natural gas, supporting reliability through periods of peak load and cold weather stress. Matthew Bernstein, vice president of North America oil and gas at Rystad Energy, reported an initial loss of 2 billion cubic feet of natural gas from the Bakken, Rockies and Mid-Continent, followed by a more abrupt drop of 12 Bcf per day, primarily driven by the Permian and broader Gulf Coast region.
Rystad’s analysis also had an initial pre-freeze assessment of 11.378 million barrels per day of production in the onshore Lower 48, which would likely see a monthly average January impact of 390,000 barrels a day, driven significantly by the Permian and other Petroleum Administrative of Defense Districts (PADD 3), which also includes the Eagle Ford and Haynesville.
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Reuters – January 31, 2026
Union extends talks with Marathon, averting strike at refineries*
The United Steelworkers union said late on Saturday it would extend talks with Marathon Petroleum averting a strike by 30,000 workers at U.S. refineries and chemical plants. The rolling 24-hour extension means the current contract, which had been set to expire at 12:01 a.m. ET (0501 GMT) on Sunday, remains in effect until either the union gives a 24-hour notice to strike or Marathon issues a 24-hour notice to lock workers out.
Since negotiations began a little over a week ago, the union has rejected at least five proposals from Marathon. The last proposal on Saturday would have given refinery and chemical plant workers a 14% wage increase over a four-year contract.
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Yahoo! News – January 30, 2026
Texas LNG Brownsville LLC, the four million tonnes per annum liquefied natural gas export terminal being developed in the Port of Brownsville, Texas, by an affiliate of Glenfarne Group, LLC, today announced a significant milestone in assembling a debt financing package of $5.7 billion for the construction of Texas LNG. The project remains on schedule for an early 2026 Final Investment Decision.
Texas LNG has assembled a group of leading financial institutions with deep experience in financing global infrastructure projects. These institutions will lead the financing upon satisfaction of certain conditions, with Initial Coordinating Lead Arrangers underwriting $750 million each, for a total senior facility of $5.7 billion, which will comprise a senior construction facility and a revolving working capital & Letter of Credit facility.
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Midland Reporter-Telegram – January 31, 2026
EOG drills lone wildcat well in Pecos County’s Woodford*
Count EOG Resources among the producers stepping out into the unknown in the search for new drilling opportunities. The company is operating the sole wildcat rig in Pecos County — one of only three rigs active in the county — to drill its State Banana Stand 31 #3501H. The Railroad Commission issued the drilling permit for the wildcat well in late November 2025. The well, permitted to 14,000 feet, is located 30 miles southeast of Fort Stockton.
“EOG is drilling the Woodford in southern Pecos County. According to our estimates, the company has leased about 75,000 acres right on the border of Pecos and Terrell counties,” Stephen Sagriff, principal analyst at Enverus, told the Reporter-Telegram. He continued, “This is driven by oil resource scarcity in the U.S. and is just one of many stories where operators, including EOG, are ‘exploring’ domestically to appraise and expand resource. There are a handful of offsetting horizontal wells targeting the Woodford, developed by Brahman and brought online in 2015 and 2020, with mixed results overall.”
Oil & Gas National & International
CNBC – February 1, 2026
OPEC+ agrees to keep oil output unchanged as Iran tensions boost prices
OPEC+ agreed to keep its oil output unchanged for March at a meeting, the producer group said on Sunday, even after crude prices hit six-month highs on concern the U.S. could launch a military strike on OPEC member Iran. The meeting of eight OPEC+ members comes as Brent crude futures settled at $70.69 a barrel, down 2 cents or 0.03%, on Friday, close to the six-month high of $71.89 it hit on Thursday. The March contract expired on Friday. U.S. West Texas Intermediate crude finished at $65.21 a barrel, down 21 cents or 0.32%.
The drop in prices came despite speculation that a supply glut in 2026 would push prices lower. The eight producers — Saudi Arabia, Russia, the United Arab Emirates, Kazakhstan, Kuwait, Iraq, Algeria and Oman — raised production quotas by about 2.9 million barrels per day from April through December 2025, roughly 3% of global demand.
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Argus Media – January 30, 2026
Slow US LNG exports to tighten Europe’s gas balance
US LNG deliveries to Europe are poised to slow down from around the second week of February after US firms redirected feedgas towards higher-priced domestic markets. A winter storm has hit the southeast of the US, leading to soaring local gas prices and prompting offtakers from LNG facilities with the flexibility to do so to redirect their feedgas towards the domestic market.
Spot feedgas costs at six of the eight LNG export terminals in the country spiked on Monday. Weighted-average feedgas costs to the 4mn t/yr Elba Island and the 5.75mn t/yr Cove Point terminals hit all-time highs of $96.36/mn Btu and $93.76/mn Btu, respectively. These prices were at significant premiums to delivered LNG prices for cargoes arriving in northwest Europe in the second half of February, which were $13/mn Btu that day.
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Bloomberg – January 30, 2026
Hedge Funds Rush Into Bullish Oil Bets Amid Iran Risk, US Freeze*
Hedge funds turned the most bullish on Brent oil since early April as President Donald Trump touted a growing US military presence near Iran and traders monitored the fallout from a sweeping winter storm. Money managers increased their long-only stance on Brent crude by 19,409 lots to 377,371 lots in the week ended Jan. 27, the highest in nearly 10 months, data from ICE Futures Europe show. Long-only bets on West Texas Intermediate also rose to a six-month high, according to the Commodity Futures Trading Commission. Trump said this week that a “flotilla” was headed to the Middle East, stoking fears of imminent US strikes in the oil-rich region. Iran accounts for about 3% of global supply, producing roughly 3.3 million barrels per day.
The remarks rippled through markets, keeping bullish options unusually expensive relative to bearish ones and steepening prompt spreads in both oil benchmarks into a more pronounced backwardation. Meanwhile, freezing conditions over the last week in the US disrupted a number of refineries on the Gulf Coast and a smattering of domestic output. Winter Storm Fern shut in close to 2 million barrels a day of American oil production at its peak, according to Energy Aspects.
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Argus Media – January 30, 2026
LNG share of alternative bunker fuel market grows
LNG is leading the charge in the alternative bunker fuel market as shipowners look to comply with greenhouse gas (GHG) emissions reduction regulations such as FuelEU Maritime, RED III, and EU ETS. Starting in 2025, shipowners traveling in to, out of and within EU territorial waters were required to cut greenhouse gas (GHG) emissions by 2pc, with steeper targets scheduled in the coming years. LNG is considered one of the most viable alternative marine fuels for shipowners seeking to comply with emission-reduction regulations in the short and medium term, according to market participants and recent bunker data.
The prioritising of LNG as an alternative bunker fuel is justified by ample availability at ports worldwide compared with other alternative bunker fuels, traders said. LNG bunkering infrastructure is available at 222 ports globally, according to industry group SEA-LNG.
Utilities, Electricity & Renewables
Dallas Morning News – January 30, 2026
Higher power bills likely as Oncor, North Texas cities reach rate settlement*
Higher electric bills may be imminent as Oncor’s proposed rate increase moves closer to approval, according to documents filed Thursday with the Public Utility Commission of Texas. Oncor and more than a dozen parties, including PUCT staff and local municipal groups, recently reached an agreement that resulted in a rate increase request that was less than the utility’s original request submitted last summer. According to Oncor, the current proposed rate hike would be about a 3% increase on bills for a residential customer using 1,000 kilowatt-hours of electricity per month on a plan charging 15 cents per kWh, equating to about $4.64 per month.
The previous rate increase request would have resulted in closer to a 4.7% monthly increase, or roughly $7.90 a month. Oncor submitted the settlement to the PUCT for approval, which the agency can accept, change or reject the agreement. A decision is expected in the first half of 2026. The new rates will go into effect once the PUCT issues a final order. If the rates are approved as is, Oncor will apply a temporary adjustment to cover the difference between current rates and new rates for the time between Jan. 1 of this year to when the new rates begin, the utility announced.
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Austin American-Statesman – January 30, 2026
Why Austin Energy says it was forced to suspend 1 in 4 power line maintenance projects*
Austin may have avoided major power outages during the most recent winter storm, but a fully maintained distribution system isn’t the reason. Austin Energy told the City Council earlier this month that it was forced to cancel or delay about a quarter of its planned transmission line maintenance projects over the past four months because the grid could not safely handle taking those lines out of service. “Whether it’s delayed or it’s canceled, it essentially says we can’t do the work that we need to either maintain our system or upgrade it to prepare for future growth,” said Austin Energy Deputy General Manager Lisa Martin, calling the situation “another flag saying we need to take a call to action.”
The projects would have temporarily shut down transmission lines for repairs or upgrades. But engineers found that removing those lines would have overloaded other parts of the system, raising the risk of equipment damage and unexpected outages. Postponing the work, however, creates its own problems: a grid that is harder to maintain and potentially more vulnerable to longer and more frequent outages over time. At the center of the problem, utility officials say, is a shortage of locally generated power.
Austin Energy relies on a mix of electricity imported from across the state and power generated closer to home, including rooftop solar, residential batteries and natural gas plants within or near the city. During periods of extreme demand — such as severe winter weather — congested transmission lines make it harder to import electricity, increasing the city’s dependence on local generation to keep the lights on. That reliance is only expected to grow as statewide energy demand rises and the grid continues to change, Martin said.
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Enerdata – January 30, 2026
NRG Energy cleared to acquire 19 GW of gas and VPP capacity
The US energy utility NRG Energy has announced that it has received antitrust clearance from the US Department of Justice (DOJ) for its previously announced acquisition of 18 natural gas-fired power plants and a commercial and industrial virtual power plant (C&I VPP) platform from LS Power (NRG Energy press release, 26/01/2026). Upon completion, the acquisition will add 13 GW of quick-start natural gas-fired generation capacity across the US Northeast and Texas, as well as 6 GW of virtual power plant capability.
The company said in May 2025 that it had entered into a definitive agreement to acquire the natural gas portfolio from LS Power. With all required regulatory approvals now secured, the transaction is expected to close shortly, subject to customary closing conditions, according to the press release.
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Utility Dive – January 30, 2026
Customers, don’t expect electric bill relief in 2026: ‘The cake is baked.’
Rising energy demand, inflation, grid investment, extreme weather and volatile fuel costs are increasing the cost of electricity faster than many households can keep up, and there are no easy fixes, experts say. Mitigating the problem would require threading a needle of policy alternatives, but even with the right policies, it will take time to reduce customer energy burdens. The U.S. Energy Information Administration puts the national average residential price per kilowatt hour in 2026 at 18 cents, up approximately 37% from 2020.
“I don’t see hidden costs that can be suddenly squeezed out of the system,” said Ray Gifford, managing partner of Wilkinson Barker Knauer’s Denver office and former chair of the Colorado Public Utilities Commission. “You are talking about an industry where most of the costs are fixed, and the assets are long-lived.”
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Architect’s Newspaper – January 26, 2026
A dangerous fiction is being promoted in Texas and across the nation: a manufactured energy crisis designed to justify our reliance on polluting coal plants while scapegoating new technologies like AI and data centers. Simultaneously, communities in Texas are grappling with the immense costs and impacts of proposed massive new transmission lines and the construction of large, resource- and land-intensive data center campuses.
Citing unsustainable energy and water consumption, more than 230 groups have now urged Congress to pause data center development in the U.S. But these narratives miss the real story. The problem isn’t our digital future; it’s our toxic past.
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Canary Media – January 29, 2026
Startup unveils heat battery it says can decarbonize almost any factory
Factories that make essential materials like steel and cement need scorching-hot air and steam to transform raw ingredients into finished products. Traditionally, they get that heat by burning fossil fuels. But the startup Electrified Thermal Solutions is pursuing a far cleaner approach: tapping piles of bricks.
The Boston-based company has developed a thermal battery system that uses electricity to heat metal-oxide firebricks for hours at a time. The goal is to soak up wind and solar power from the grid during cheaper off-peak periods, then deliver the stored heat to industrial furnaces, boilers, and kilns whenever manufacturers need it.
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The New York Times – January 30, 2026
Grids Are Surviving the Storm. But the Next 5 Years Could Be Rough.*
The reliability of the electric grids that power the United States and Canada is “worsening” and tens of millions of people face a growing risk of blackouts over the next five years, according to a group that monitors most of North America’s electricity system. That’s because demand for electricity is rising quickly, led by a boom in data centers. At the same time, utilities are retiring older coal- and gas-burning plants and aren’t adding enough generation to dependably meet growing demand, according to an annual assessment released Thursday by the North American Electric Reliability Corporation, a nonprofit organization that works closely with federal regulators.
“We are headed for a reliability crisis, except now the crisis is not over the horizon, but across the street,” Mark Christie, a former U.S. federal grid regulator, said in response to the report. The people most at risk of electricity shortfalls within the next five years are in areas of Texas, the upper Midwest, the Mid-Atlantic region and the Pacific Northwest, according to the report. In the worst-case scenario, a shortage of power could mean life-threatening blackouts during an intense heat wave or cold snap when the grid is particularly strained. The most severe example recently came during a massive winter storm in Texas in 2021. The state’s grid, which is unusual in that it is largely isolated from grids in the rest of the country, lacked sufficient power to meet soaring demand during the cold and suffered extensive blackouts. More than 200 people died during the storm.
Regulatory
JD Supra – November 26, 2025
Texas Business Court Addresses Another Winter Storm URI Force Majeure Dispute: Gray Reed
In Marathon Oil Co. v. Mercuria Energy America, LLC, the Texas Business Court (11th Division) considered a North American Energy Standards Board (NAESB) contract to buy and sell natural gas. With three opinions to discuss, this post will be longer than usual.
When the storm hit Texas, seller Marathon failed to deliver all of the gas required under the contract and declared force majeure. The parties disputed whether the force-majeure clause excused Marathon’s failure to deliver. The court, having granted in part and denying in part dueling motions for summary judgement, issued this opinion because an opinion would “benefit the parties and the jurisprudence … “.