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.