Texas Energy Report NewsClips
Friday February 20, 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 rose on Friday, headed for their first weekly gain in three, on growing concerns a conflict may erupt between the U.S. and Iran, after Washington said Tehran will suffer if it does not agree a deal on its nuclear activity in a matter of days.
West Texas Intermediate crude gained 31 cents, or 0.5%, to $66.74 as of 0437 GMT.
Brent crude futures rose 25 cents, or 0.4%, to $71.91.
Prices settled at a six-month high on Thursday after U.S. President Trump said “really bad things” would happen if Iran does not come to an agreement regarding a nuclear programme it has said is peaceful but that the U.S. believes is militaristic. Trump set a deadline of 10 to 15 days.
Iran, meanwhile, has planned a joint naval exercise with Russia, a local news agency reported, days after temporarily closing the Strait of Hormuz for military drills.
Top Stories
Midland Reporter-Telegram – February 19, 2026
Researcher: Without shale, oil would be $150-$200 a barrel*
Permian Basin residents, whether directly tied to the oil and gas industry or not, know the impact of the shale revolution. But what would the world look like if the revolution had not happened? Where would American families be? That was the question asked by Anne Bradbury, president and chief executive officer of the American Exploration & Production Council.
She posed the question to Rob West, founder of Thunder Said Energy and known for his data-driven analysis of global energy markets in her Longer Laterals podcast. Thomas noted that 15% of the U.S. Consumer Price Index (CPI) is energy costs, and half of that 15% is direct energy spending such as at the gasoline pump or heating homes. About 1% of the CPI is airfares, and energy costs like jet fuel comprise 20% of those fares. Another 30% of CPI is retail spending, of which 2% goes on energy bills, he said.
“All the CPI basket, line by line” has energy components, he said. Inflation rates have been 0.7% lower year-over-year each of the last 10 years because of shale, he said. Without shale, oil prices would range between $150 and $200 a barrel and natural gas prices would be in excess of $10 per Mcf. The shale revolution saved consumers $800 billion annually through lower energy prices.
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Reuters – February 18, 2026
Booming LNG exports may get dragged into US cost-of-living debate: Gavin Maguire*
That total sharply exceeds the roughly 4,000 BCF of gas consumed by residences and the 3,000 BCF consumed by commercial sites during that period, and means LNG exporters are now the third-largest U.S. gas consumer behind industry and power firms. The U.S. LNG export tally was 25% higher than in the same period of 2024, and accompanied a 61% rise in the benchmark U.S. natural gas price – the Henry Hub spot price – last year.
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The Guardian (UK) – February 19, 2026
Like many of us who are mindful of our plastic consumption, Beth Gardiner would take her own bags to the supermarket and be annoyed whenever she forgot to do so. Out without her refillable bottle, she would avoid buying bottled water. “Here I am, in my own little life, worrying about that and trying to use less plastic,” she says. Then she read an article in this newspaper, just over eight years ago, and discovered that fossil fuel companies had ploughed more than $180bn (£130bn) into plastic plants in the US since 2010. “It was a kick in the teeth,” says Gardiner. “You’re telling me that while I am beating myself up because I forgot to bring my water bottle, all these huge oil companies are pouring billions …” She looks appalled. “It was just such a shock.” …
Her research took her to Reserve, Louisiana, in the Lower Mississippi River, where she met Robert Taylor, an activist in his 80s who has spent much of his life living by an enormous plastics plant. “He is surrounded by illness, by all kinds of cancers. He only found out in 2016, as a result of federal action, that the levels of toxic gases had gone through the roof in his area, an overwhelmingly Black neighbourhood. He told me about all the illness in his family – affecting his wife and his daughter, his neighbours and his cousins. It was haunting. When we talk about plastic, we tend to think about the ways we experience it in our own lives, and we’re not as aware of the production and the impact it has on the people who live beside it.”
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S&P Global Platts – February 19, 2026
13 states sue Trump administration over hydrogen hub, clean energy cuts
California, Washington and 11 other US states sued the Trump administration Feb. 18 over the termination of billions of dollars in clean energy grants, alleging the move violated the US Constitution’s separation of powers doctrine. Thirteen attorneys general filed a lawsuit in the US District Court for the Northern District of California, challenging the US Department of Energy’s termination of $7.56 billion in awards last year. The plaintiffs argued the funding cuts are unconstitutional because Congress had specifically authorized the programs.
The lawsuit also challenges a May 2025 DOE memorandum requiring previously funded projects to undergo a “review” process, calling the memo “a pretext” for eliminating clean energy funding. “Its true purpose was to give the administration thin bureaucratic cover to eliminate congressionally established energy and infrastructure programs and rescind their funding, for no other reason than a fundamental disagreement with the programs’ policy underpinnings,” the document said.
The Latest TERse Tips
Trump to decide whether to attack Iran in next 10 days — oil prices rise — CNBC
Targa Resources Corp. Reports Record Fourth Quarter and Full Year 2025 Financial Results and Provides Outlook for Record 2026 — see the press release
Chevron names new leaders for supply and trading, production and strategy — CSP Daily News
Fitch Ratings has assigned an ‘A+’ rating to the following bonds issued by the Lower Colorado River Authority, TX on behalf of the Lower Colorado River Authority Transmission Services Corp — Fitch
Austin Energy energizes new Kramer Substation, adding capacity to growing North Austin — see the press release
Forum Energy Technologies Inc. on Thursday reported earnings of $2.1 million in its fourth quarter — Associated Press/San Antonio Express-News*
Clean energy developer Lydian announced it has secured $689 million in financing, aimed at supporting its solar and battery energy storage projects in Texas, Utah and New Mexico — ESG Today
EQT Corp. CEO Toby Rice said Wednesday that Winter Storm Fern was a “stark reminder” of how important natural gas infrastructure is to the country’s energy system and called on policymakers to ensure additional pipelines can be built — Natural Gas Intelligence*
From Texas oil fields to the octagon: Shiner’s Zach Reese ready for big UFC moment in Houston — Houston Chronicle*
Oil & Gas Texas
Center Square – February 19, 2026
Haynesville forecast to lead U.S. shale growth in next two years
Domestic natural gas production is expected to increase by an average of 4.0 billion cubic feet per day, or 3.4%, in the next two years to 122.3 billion cubic feet per day, with more than two-thirds of the additional output produced in the Haynesville shale region of northwest Louisiana and northeast Texas. Through the end of 2027, higher gas production will be driven primarily by rising demand for fuels to power data centers across the U.S. and by liquefied natural gas exports shipped from terminals in Louisiana and Texas, according to the U.S. Department of Energy’s updated February forecast.
The department projects natural gas production in the Hayneville shale region will grow 1.2 billion cubic feet per day in 2026 to reach an average of 15.6 billion cubic feet per day, an increase of 8.3% in the year. In 2027, Haynesville natural gas output is expected to jump another 1.6 billion cubic feet per day, or by 10.3%, to 17.1 billion cubic feet a day.
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Rigzone – February 19, 2026
Brazos Starts Up New Gas Processing Plant in Midland Basin
Brazos Midstream said Wednesday it had commissioned its biggest cryogenic plant, designed to process up to 300 million cubic feet a day (MMcfd) of natural gas in the Midland sector of the Permian Basin. Sundance II follows the startup of the 200-MMcfd Sundance I in 2024. The Sundance complex in Martin County, Texas “provides critical processing capacity in the core of the Midland Basin and positions the company for continued growth in the region”, Brazos said in a press release.
“The company’s Midland Basin footprint now extends across Ector, Glasscock, Howard, Midland, Martin, Reagan and Upton counties”, Fort Worth, Texas-based Brazos said.
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Reuters – February 19, 2026
Golden Pass moves closer to producing first LNG with increased natural gas flows into facility*
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World Oil – February 19, 2026
Texas producers gain access to new electricity procurement platform through TIPRO partnership
The Texas Independent Producers & Royalty Owners Association (TIPRO) has launched a new electricity procurement initiative aimed at helping oil and gas operators manage rising power demand and costs across Texas. The TIPRO Power Texas program, developed in partnership with Arise Energy, provides member companies with access to competitive electricity sourcing options through a digital procurement platform that connects users with multiple power suppliers. The offering is designed to support operators as electrification of oil and gas operations and broader industrial growth drive higher power consumption across the state.
Electricity demand in the Electric Reliability Council of Texas (ERCOT) market has grown rapidly in recent years and is expected to continue rising through the end of the decade. Increased use of electric-powered equipment in upstream operations, along with expanding infrastructure and population growth, is contributing to higher power requirements for producers and service companies.
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OK Energy Today – February 19, 2026
OK Petroleum Alliance blames legislature for loss of Expand Energy and Devon Energy HQs
Hey Oklahoma legislature……wake up! It’s the strong message delivered to the leaders of the state House and state Senate from Brook Simmons, president of the Petroleum Alliance of Oklahoma. He fired off a letter this week explaining that the decisions by Devon Energy and Expand Energy to move their headquarters to Houston, Texas and the impact on the state’s oil and natural gas industry were overblown and it is not in decline.
“To borrow from Mark Twain: Reports of the oil and natural gas industry’s Oklahoma demise are greatly exaggerated! Despite clutch-your-pearls comments from elected locals and business development officials who really should know better, Oklahoma will remain a highly specialized oil and natural gas economy after Devon Energy and Expand Energy move their headquarters to Houston,” wrote Simmons.
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Capital & Main – February 17, 2026
The Clear Horizons & Emissions Codification Act died on the New Mexico Senate floor when seven Democratic senators joined all of the minority Republican caucus to kill it. While several Democrats spoke in favor of the bill, also known as SB18, not one person spoke against it — a hint that the vote was decided before the Feb. 11 hearing began. When Sen. William Sharer (R-San Juan), the minority floor leader, voted, you could hear the sing-song in his “No!”
After the vote tally was read — 19-23 — bill sponsor Sen. Mimi Stewart (D-Bernalillo) quietly said, “Thank you to the body for the discussion,” though there had been no real discussion. In a later interview, Stewart said Republicans didn’t fight the bill that day because “they didn’t need to. They could just wait for the seven Democrats that voted with them.” But there was plenty to discuss. Gov. Michelle Lujan Grisham exhorted the Legislature to “put it in law! Put it in law! Put it in law!” during her state of the state address that kicked off the ongoing legislative session.
Oil & Gas National & International
Reuters – February 19, 2026
Oil companies jostle for projects to boost Venezuelan output quickly; a real grind awaits*
In September, a rig used to drill wells in shallow waters completed the long trip from China to Venezuela’s oil-producing region of Lake Maracaibo. The passage of the big old rig named Alula just inches below the bridge connecting Maracaibo city with the oilfields of the lake’s eastern coast stirred excitement among residents and workers: they had not seen any new drilling equipment arrive for years due to U.S. sanctions. The rig hit an oil pipeline as it passed through the lake and over the metallic spaghetti of 20,000 kilometers of pipes beneath the waters. Crude leaked for months before repairs could be made and the rig installed at the polluted lake late last year. The crude production increase has been small since then.
The story of the Alula is a cautionary tale for the foreign energy companies such as U.S. oil major Chevron that are looking to quickly expand in Venezuela and take on the short-term projects needed to boost the country’s oil output. Each step forward often brings a new host of challenges. Other foreign companies with a toehold in the country include Spain’s Repsol, Italy’s ENI, France’s Maurel&Prom and China National Petroleum Corp.
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S&P Global Platts – February 19, 2026
Venezuelan crude exports rebound as sanctions push trade to compliant fleet: Teekay Tankers
Venezuelan crude exports are expected to return to a typical run rate of 800,000 b/d, as the country shifts away from dark fleet tankers following a US naval blockade that has boosted demand for compliant vessels in the region and supported spot rates, executives at Teekay Tankers said Feb. 19.
“Just looking at where it’s tracking in February, we’re already back up to about 700,000 b/d of exports,” Christian Waldegrave, director of research and commercial performance, said during the company’s fourth quarter earnings call. “And it’s all going on non-sanctioned ships primarily to the U.S. South Caribbean region, but we’ve also seen two or three cargoes to Europe. And we know that India is starting to buy some barrels as well,” he added.
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S&P Global Platts – February 18, 2026
Glencore sees oil and gas trading volumes jump to six-year high in 2025
Glencore grew its oil and natural gas trading volumes to their highest since the coronavirus pandemic in 2025, but struggled to offset losses linked to falling prices, the company said Feb. 18, observing lasting challenges navigating a softer market environment.
The Switzerland-headquartered commodities trader achieved a total oil and gas trading result of 4.2 million barrels of oil equivalent/day in 2026, it said in its full-year earnings report, up 11% from the previous year. Volumes were split roughly evenly between crude oil, the company’s most-traded energy product, and oil and gas products, which grew at a faster annual rate of 13%.
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California Globe – February 5, 2026
Can California’s Oil Industry Survive?: Edwin Ring
Even confirmed skeptics should be impressed at the rapid improvement in the price and performance of EVs. A new 2026 Nissan Leaf sells for just under $30,000, and can charge in 30 minutes. That’s still not competitive with affordable gasoline powered vehicles, but the gap is closing fast. But while we may be sanguine about the technology catching up, there is the so-called installed base that isn’t going anywhere soon. Of the 35 million registered vehicles in California, only 2.5 million are EVs, and virtually all of the state’s more than 100,000 heavy commercial trucks are diesel powered.
Meanwhile, the dismantling of California’s oil industry proceeds at a pace far exceeding the capacity of an EV infrastructure to match. Last year on December 15, the San Pablo pipeline shut down. It was the only pipeline connecting the inland oil fields in central and southern California to refineries in the San Francisco Bay Area.
Utilities, Electricity & Renewables
News Wise – February 19, 2026
New Study Reveals Significant Detection Gaps for Urban Natural Gas Leaks
The complexities of urban environments—like variable winds off of tall buildings or surfaces—significantly impair the ability to detect natural gas leaks from underground pipelines, a new study shows. SMU researchers found that detection probability can be reduced by 16 percentage points for methane gas leaks from main pipelines and by as much as 38 percentage points for service line leaks in urban areas, compared to rural settings.
Main lines are the larger, high-pressure pipelines under streets that carry gas to neighborhoods, acting like a main artery, while service lines are smaller ones connecting the main line to an individual customer’s meter, delivering lower-pressure gas directly to a home or business.
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MSN – February 19, 2026
Siemens Energy expansion brings more jobs to Texas energy sector
More high-tech manufacturing jobs are coming to Texas. Siemens Energy is investing more than $23 million in its operations in Houston. Matt Neal, president of Siemens Energy North America, said the expansion will create opportunities at their gas-turbine and generator-repair facilities.
“We have some of the latest technology and digitalization and the utilization of AI that we implement on the factory floor,” he said. “It is really a high-tech career. We’re building training centers across the U.S. to help bring folks up to speed.” The Houston operation maintains generators nationwide and trains teams that service compression equipment. They currently employ 1,600 people. Siemens said 1,500 new highly skilled positions will be created across the United States, but hasn’t specified how many of those jobs will be in the Lone Star State.
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Canary Media – February 19, 2026
How solar and batteries help keep lights on during Texas winter storms
Texas has quietly built one of the largest renewable energy and battery storage fleets in the world. According to capacity data from the Electric Reliability Council of Texas, the state has added roughly 31 gigawatts of solar capacity and 17 GW of battery energy storage — enough to power millions of homes. Over the same period, the legislature mandated weatherization of power plants and natural gas infrastructure, ERCOT improved its operational procedures, and new market mechanisms were introduced to better coordinate solar and storage.
The results speak for themselves. Since Uri, the Texas grid has faced three major winter storms that each set new all-time winter peak demand records. In every case, the grid held. No rolling blackouts. No load shedding. No emergency curtailments. Demand kept climbing, and the grid kept delivering.
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MSN – February 19, 2026
Silicon Valley is building a shadow power grid for data centers across the US
The GW Ranch project approved on 8,000 windswept acres of West Texas will look like many of the other data centers that have sprung up across the country to support Silicon Valley’s ambitions for artificial intelligence. Dozens of airplane-hangar-size warehouses packed with computing hardware will consume more power than all of Chicago. But it’s missing one standard feature: The mammoth project, recently green-lit by state environmental regulators, won’t need new power lines to deliver the electricity that it guzzles.
GW Ranch will be walled off from the power grid and generate its own electricity from natural gas and solar plants installed on site. GW Ranch is set to become part of a shadow power grid emerging across the country with potentially far-reaching consequences for the U.S. electricity system and environment.
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Politico – February 19, 2026
EPA eyes more ‘alternative fuel’ options under clean school bus program*
EPA wants to fund more school buses that run on forms of natural gas, biofuels or hydrogen with the $2 billion remaining in the clean school bus program created by the bipartisan infrastructure law. The potential funding shift comes after years of complaints from Republicans, who alleged the program is wasteful because electric school buses — which were the Biden administration’s focus for spending under the law — cost more than buses that run on fossil fuels.
The Infrastructure Investment and Jobs Act created a $5 billion program to fund the purchase of clean school buses. The law specified that half of the money must be used for zero-emission buses, while the other half could be used for either zero-emission or alternative fuel buses, including liquefied natural gas, compressed natural gas, hydrogen, propane or biofuels. The Biden administration went through three funding rounds totaling $3 billion. That money funded the purchase of 8,500 buses. About 90 percent of those were battery electric, with most of the remainder being propane and at least one bus running on compressed natural gas.
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Politico – February 19, 2026
Trump admin appeals wind power courtroom loss*
The Trump administration is appealing a judge’s decision that found the White House’s effort to halt permits for wind projects across the country illegal. The appeal marks the administration’s latest action to block wind energy development in the U.S. President Donald Trump has repeatedly derided the renewable energy source as unreliable and has said that no turbines would be built under his administration.
The Justice Department this week filed a notice of appeal to the 1st U.S. Circuit Court of Appeals challenging that district court ruling. Trump signed an executive order on Day 1 of his second term that effectively froze leasing, permitting and approvals for wind projects — both onshore and offshore — pending a wider review. The attorneys general of more than a dozen states and the District of Columbia and led by New York, challenged actions under that order, which they said violated the Administrative Procedure Act and other federal laws.
Regulatory
Politico – February 19, 2026
Blue states tee up fight over water permitting rule*
Democratic states are preparing to challenge a Trump administration plan that would limit their oversight of water pollution from major energy projects. The administration’s proposal to prevent states from blocking or imposing environmental conditions on pipelines, dams and other infrastructure violates the Clean Water Act and runs afoul of Supreme Court precedent, attorneys general from 16 blue states and Washington said Tuesday.
The states called on EPA to abandon its draft rule curtailing states’ role in energy permitting and signaled they will sue if it is finalized. Under the first Trump administration, the agency issued a similar policy, prompting a lawsuit from a similar group of states “EPA’s last attempt to accomplish this in 2020 was a failure,” the states said in a comment letter to EPA, signed by Washington state Attorney General Nicholas Brown, New York Attorney General Letitia James and others. “EPA now backtracks and repeats its most significant mistakes.”