Texas Energy Report NewsClips
Thursday February 26, 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
Bloomberg – February 25, 2026
Slowing US Shale Growth Has Fracking Companies Finding New Markets Abroad*
US fracking companies are increasingly sending their idle equipment overseas, finding new markets abroad as growth slows in the shale fields of Texas, New Mexico and elsewhere. Over the past two years, hundreds of pumps the size of 18-wheelers have been sent to Argentina by providers including Halliburton Co. and Calfrac Well Services Ltd., and to Australia by Liberty Energy Inc. and Halliburton, according to estimates from analytics firm Primary Vision. The shipments also include sand towers, water tanks, industrial blenders and miles of hoses used to inject fluid and sand into rock layers more than a mile underground. Investments in new pumps and fracturing equipment have also been made by companies like Tenaris SA to support the growing Vaca Muerta region of Argentina.
All this equipment amounts to nearly one-fifth of the fracking power deployed in the Permian Basin as recently as last year, and more could follow. Halliburton, the world’s largest fracking service provider, has said it sees incentives to move equipment abroad as its international business expands. Sending underused diesel-powered fleets abroad could help oil-field service companies recover after years of squeezed profits and pressure from customers to lower costs. There is a downside, however, for the oil and gas producers that hire Halliburton and the others to frack their wells: less equipment in the US is apt to drive up costs when and if companies start ramping up production again.
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The Guardian (UK) – February 25, 2026
Judge orders Greenpeace to pay $345m over Dakota Access pipeline protest
A North Dakota judge has said he will order Greenpeace to pay damages expected to total $345m in connection with protests against the Dakota Access oil pipeline from nearly a decade ago, a figure the environmental group contends it cannot pay. In court papers filed Tuesday, Judge James Gion said he would sign an order requiring several Greenpeace entities to pay the judgment to pipeline company Energy Transfer. He set that amount at $345m last year in a decision that reduced a jury’s damages by about half, but his latest filing did not specify a final amount.
The long-awaited order is expected to launch an appeal process in the North Dakota supreme court from both sides. Last year, a nine-person jury found Netherlands-based Greenpeace International, Greenpeace USA and funding arm Greenpeace Fund Inc liable for defamation and other claims brought by Dallas-based Energy Transfer and subsidiary Dakota Access.
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Politico – February 25, 2026
Feds strip protections from lesser prairie chicken, launch ESA study*
The Fish and Wildlife Service removed lesser prairie chickens from the list of protected species Wednesday, announcing the start of a new effort to determine the status of the high-profile, ground-hugging bird. Bending to litigation brought by ranchers, the oil and gas industry and several red states, the federal agency dropped the lesser prairie chicken’s northern distinct population from the roster of threatened species. The bird’s southern distinct population is losing its designation as endangered.
But the dual delistings do not mean the end of the long-running debate over the bird that inhabits some energy-rich regions. Instead, the wrangling can begin anew as FWS reconsiders the 2022 ESA listing decisions struck down by a Texas judge last August. “We are particularly interested in information that has become available since, or was not considered in, the 2022 final listing rule,” FWS stated. The lesser prairie chicken is currently found in southeastern Colorado, western Kansas, eastern New Mexico, western Oklahoma and the Texas Panhandle. It requires large intact blocks of prairie habitat to flourish. It has also commanded considerable attention for a great many years.
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Bloomberg – February 25, 2026
Iran Ramps Up Oil Tanker Loading as US Builds Military Force*
Iran has been loading oil onto tankers at a rapid pace in recent days, a potential sign of the Persian Gulf state’s preparations in case of an attack by the US. Exports from Kharg Island from Feb. 15 to 20 were at nearly 20.1 million barrels, data from Kpler show. That’s almost three times the amount loaded over the same dates in January and the equivalent of more than 3 million barrels a day, far beyond Tehran’s usual daily rate. The increase comes as the US amasses the largest fighting force in the Middle East since the second Gulf War in 2003. Last year, shortly before American air strikes, Iran rushed to get its oil out of its ports by shipping large volumes onto tankers and sending as much as it could to Kharg Island. A similar pattern was also observed in 2024 during a period of elevated tension.
Oil production and exports are a key pillar of support for Iran’s economy, and the race to load barrels onto vessels would allow Tehran to unlock as much production as possible before any potential disruption. Those barrels, mostly exported from Kharg Island, would need to transit the Strait of Hormuz and largely on tankers that do their best to avoid detection. Satellite data offer a glimpse on the level of activity at the island. It’s unclear what will happen to the ships that have loaded this time around, but it’s possible they will disperse widely if the US does eventually attack, according to Samir Madani, co-founder of TankerTrackers.com, which specializes in analysis of satellite imagery. Iran has been loading “as much oil as possible” lately, he said Wednesday, adding that tankers “will definitely disperse away from the island in case of a new round of air strikes.”
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The Hill – February 25, 2026
Data centers’ air pollution associated with lung issues: Report
Emissions from data centers can cause breathing issues and premature deaths for those living nearby, according to a new report. The report was compiled by Community & Environmental Defense Services (CEDS) founder and president Richard Klein, who has been working in development-related concerns for 40 years. Klein found that a single data center could pose negative health risks for people living at least 0.6 miles away, sometimes further.
Klein said risks increase when a home is near multiple data centers. A growing number of Americans in the central U.S. live near one or more data centers or will in the near future. Data centers are massive buildings that store computing equipment and support IT servers, data storage and networks.
The Latest TERse Tips
Trump builds case for war with Iran ahead of pivotal talks — The Hill
White House Says Iran Is Close to Weapons-Grade Nuclear Material. Experts Say No. — Iran’s uranium-enrichment program has stalled, say experts, despite U.S. war preparations — The Wall Street Journal*
Iran nears deal to buy supersonic anti-ship missiles from China — Reuters*
Kerry Knorpp has passed away at 72 — he was a celebrated lobbyist representing land and mineral owners before the Texas Railroad Commission and the Texas Legislature and a friend of Texas Energy Report — see the obituary
Drought nears six years in Midland-Odessa; conservation urged — the U.S. Drought Monitor’s latest map shows portions of Midland County are in severe drought while Ector County is in moderate drought. Statewide, the map shows the total area of the state impacted by drought is up about 0.1 percentage point. Twenty-five percent of the state is abnormally dry and could slip into drought in the coming weeks — Midland Reporter-Telegram*
The Woodlands’ Excelerate Energy Inc. on Wednesday reported fourth-quarter profit of $9.1 million — see the press release
Archrock, Inc. on Wednesday reported results for the fourth quarter and full year 2025 — see the press release
The RRC assessed more than $1.27 million in enforcement fines against oil and gas operators and related businesses during its latest open meeting, reinforcing compliance requirements across the state’s energy sector.– World Oil
Fermi Inc which operates as Fermi America in partnership with the Texas Tech University System, Wednesday announced that the TCEQ has granted final approval of the nation’s second largest Clean Air Permit for 6 gigawatts of clean natural gas-based power generation at its landmark 11 GW Project Matador campus — see the press release
China’s dominance of critical mineral supply chains is not as absolute as it may appear — China accounted for 78% of global refined output of the battery metal in 2024, according to the International Energy Agency. But it lacks significant domestic mining capacity, leaving it highly dependent on imports of raw materials, and that vulnerability has been exposed by the export controls imposed by the Democratic Republic of Congo, the largest source of cobalt intermediate products for Chinese processors, writes Andy Home for Reuters
E.ON earnings rose as it expanded and upgraded energy infrastructure across Europe, with the electric utility company betting on growing demand as it raises its investment plan — the Germany-based electric utility company said adjusted earnings before interest, taxes, depreciation and amortization for 2025 rose 9% to 9.85 billion euros ($11.60 billion). This compares with 9.785 billion euros analysts had expected according to a consensus compiled by the company — The Wall Street Journal*
Oil & Gas Texas
Bloomberg – February 25, 2026
Resurrection of Keystone XL Oil Pipeline Threatens to Reignite Controversy*
One of the most controversial US energy projects, long thought to be dead and buried, might be coming back to life. The Keystone XL pipeline, a totemic project to bring more Canadian crude to the US Gulf Coast, was canceled by President Joe Biden on his first day in office. Yet five years later, there are signs of revival. Bridger Pipeline, a private US company, filed an application last month with Montana regulators to build a 550,000-barrel-a-day conduit to move Canadian crude through the state into Wyoming. The new project would start near the spot where Keystone XL was supposed to cross into Canada and follow much of the originally planned route.
Meanwhile, north of the border, South Bow Corp., the company spun off from Keystone XL developer TC Energy Corp., is considering how to use existing infrastructure to boost exports to the US. Neither company is saying so, but this looks like a quiet revival of Keystone XL, in spirit if not in name. If that turns out to be the case, it would be significant for at least two reasons. First, a resurrection of Keystone XL, even in reduced form and under a different name, would be a win for President Donald Trump, who has called for the project to resume.
Trump isn’t the only leader seeking to pivot from his predecessor’s energy legacy. Canadian Prime Minister Mark Carney has pushed to build more pipelines and raised the prospect of a Keystone XL comeback during a meeting at the White House last year. Building more capacity could be politically beneficial for both leaders. Second, even a partial revival of Keystone XL could make it a lightning rod for protests once again, especially as Biden cited climate goals as he revoked the project’s permit back in 2021.
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Rigzone – February 25, 2026
EOG Resources Inc on Tuesday reported $701 million in net profit and $1.22 billion in adjusted net profit for the fourth quarter (Q4) of 2025, both down sequentially and year-on-year on lower oil and gas price realizations in the United States. Earnings per share adjusted for extraordinary or nonrecurring items landed at $2.27, beating the Zacks Consensus Estimate of $2.2. Dividend per share remains at $1.02.
The Houston, Texas-based oil and gas explorer and producer, operating mainly in the U.S. with a smaller footprint in Trinidad and Bahrain, logged an average production of 1.4 million barrels of oil equivalent per day (MMboepd), up from 1.3 MMboepd in the prior three-month period and 1.1 MMboepd in Q4 2024. Crude oil and condensate output in Q4 2025 was 546,100 bpd, up quarter-on-quarter and year-on-year. Natural gas production stood at 3.07 billion cubic feet per day (Bcfpd), up quarter-on-quarter and year-on-year. Natural gas liquids production averaged 342,100 bpd, also up quarter-on-quarter and year-on-year.
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E&E News By Politico – February 25, 2026
PHMSA wants to issue permit to Sable Offshore to restart Calif. pipeline*
Federal regulators want to issue a special permit to allow a Texas company to restart a coastal pipeline network in California that failed in 2015 and resulted in one of the worst oil spills in state history. The U.S. Department of Transportation’s Pipeline and Hazardous Materials Safety Administration on Monday posted a notice proposing granting Sable Offshore a special permit to restart two segments of the Santa Ynez pipeline system, which transports oil drilled offshore through Santa Barbara, San Luis Obispo and Kern counties.
The proposed waiver is a win for Sable, which has turned to the federal government for support in restarting its pipeline since hitting significant opposition among state and local California officials. Sable needs a special permit to operate its pipeline due to a consent decree imposed after the 2015 oil spill, before Sable purchased it.
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Transport Topics – February 25, 2026
Fracking Companies Turn to Global Buyers for Idle Equipment
U.S. fracking companies are increasingly sending their idle equipment overseas, finding new markets abroad as growth slows in the shale fields of Texas, New Mexico and elsewhere. Over the past two years, hundreds of pumps the size of 18-wheelers have been sent to Argentina by providers including Halliburton Co., Calfrac Well Services Ltd. and Tenaris SA, and to Australia by Liberty Energy Inc. and Halliburton, according to estimates from analytics firm Primary Vision. The shipments also include sand towers, water tanks, industrial blenders and miles of hoses used to inject fluid and sand into rock layers more than a mile underground.
Halliburton ranks No. 8 on the Transport Topics Top 100 list of the largest private carriers in North America. Calfrac ranks No. 85. All this equipment amounts to nearly one-fifth of the fracking power deployed in the Permian Basin as recently as last year, and more could follow. Halliburton, the world’s largest fracking service provider, has said it sees incentives to move equipment abroad as its international business expands. Patterson-UTI Energy Inc. also sees an opening in Argentina for its diesel equipment as it transitions its U.S. fleet to run on natural gas, CEO Andy Hendricks said.
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Midland Reporter-Telegram – February 25, 226
Viper Energy grows to $18 billion after deals, eyes S&P 500 listing*
Viper Energy helped pioneer the mineral and royalty ownership market, becoming the first such company to go public in the U.S. in 2014. Viper was founded in 2013 and went public a year later, according to Chief Executive Officer Kaes Van’t Hof, attending a Midland Wildcat Committee reception honoring the company. At the time, he said it was a new business model, explaining that Viper was founded because “minerals and royalty ownership is all free cash flow and no capital expenditures and should trade at higher multiples than exploration and production companies.”
Beginning with a $2 billion valuation, the subsidiary of Diamondback Energy is now capitalized at $18 billion. Last year, the company made two $4 billion acquisitions. One was the dropdown acquisition of Endeavor minerals following Diamondback’s purchase of Endeavor Energy Resources. Another was the $4.1 billion acquisition of Sitio Royalty, which Van’t Hof said doubled Viper’s size.
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The New York Times – February 25, 2026
Abu Dhabi’s State Oil Company Looks Beyond Oil*
Until Sultan Ahmed Al Jaber was tapped to overhaul Abu Dhabi’s national energy company, it had been content to rake in the cash from large, low-cost oil fields. His mandate was to modernize the company, known as ADNOC, to make sure it could continue to sustain the economy and geopolitical ambitions of the United Arab Emirates. Mr. Al Jaber, who was appointed in 2016 by Sheikh Mohammed bin Zayed, then the crown prince, has helped put ADNOC on the map as a global deal maker, establishing the Emirates as a brasher rival to Saudi Arabia in the Organization of the Petroleum Exporting Countries. The oil giant has also given the Emirates the money and muscle to intervene in countries like Sudan and Yemen, raising tensions with neighbors like the Saudis.
“He’s totally transformed the company and the way that the oil sector is managed,” said Ben Cahill, a director at the Center for Energy and Environmental Systems Analysis at the University of Texas. Now ADNOC, which was founded in 1971, is pushing beyond oil, a risky phase for the company. It aims for international acquisitions, especially in natural gas, where it aspires to be in the top five suppliers globally, and chemicals, renewables and other sectors.
Mr. Al Jaber said ADNOC was open to participating in the development of natural gas resources in Venezuela, where the United States is trying to drum up investment after forcibly removing the South American country’s president and taking control of its energy industry. Through ADNOC’s acquisition arm, XRG, which Mr. Al Jaber set up in late 2024, the company is buying into a U.S. liquefied natural gas plant called Rio Grande LNG. XRG also has stakes in gas properties in countries including Azerbaijan, Egypt and Mozambique.
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Reuters – February 25, 2026
Argentina shale oil resource could be ‘another Permian,’ US producer Continental says*
Oil & Gas National & International
Reuters – February 25, 2026
OPEC+ to consider 137,000 bpd oil output increase for April, sources say*
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Reuters – February 25, 2026
US to allow resale of Venezuelan oil to Cuba, Treasury says*
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E&E News By Politico – Febuary 24, 2026
New York pushes FERC to dismiss Constitution pipeline petition*
New York is ramping up its opposition to the Constitution pipeline project, urging federal regulators to dismiss Williams Cos.’ petition for a reissued certificate. The state’s request comes amid a dispute over the proposed 125-mile natural gas pipeline — which Williams canceled in 2020 before reviving it last year — and whether the developer needs to submit a new application to the Federal Energy Regulatory Commission to construct and operate the project.
The pipeline, which is designed to run from Pennsylvania to New York, would also help supply New England with natural gas. New York said in a Friday filing that FERC must order the dismissal of Williams’ petition now, rather than requiring a state agency and others to “engage in yet another round of wasteful administrative review over Constitution’s Petition.” Environmental groups said last month that FERC “lacks the legal authority to ‘reissue’ any vacated and lapsed” Natural Gas Act certificate, while Williams has said FERC doesn’t require parties to reapply for certificate authority. FERC approved Constitution in late 2014.
Utilities, Electricity & Renewables
CNBC – February 25, 2026
Big Tech companies to meet Trump at White House to sign pledge on data center power costs
The major technology companies will meet President Donald Trump at the White House next week to sign a pledge that they will supply their own power for artificial intelligence data centers. Amazon, Google, Meta, Microsoft, xAI, Oracle and OpenAI will sign the agreement at the March 4 meeting, a White House official confirmed to CNBC Wednesday.
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RTO Insider – February 25, 2026
FERC Declines to Suggest Interregional Transmission Requirements*
FERC staff didn’t recommend mandatory minimum interregional transfer requirements, despite an NERC study that highlighted that 35,000 MW of additional capacity would improve grid reliability. The report focused on examining regional load, generation, and existing capabilities rather than establishing specific, binding minimums. NERC’s study, mandated by the 2023 Fiscal Responsibility Act, emphasized that increased transfer capability is necessary for grid reliability, particularly during extreme weather events.
Instead of setting mandatory standards, the FERC report indicates that simply adding transfer lines is not sufficient without ensuring adequate, available generation in neighboring regions. Clean energy advocates criticized the decision to not set actionable, mandatory minimums, arguing it undermines efforts to improve reliability amidst rising energy demand.
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San Antonio Express-News – February 25, 2026
CPS Energy’s board delays vote on record $2.87B budget, wants more time to review it*
The vote on a record-breaking CPS Energy budget was postponed after some board members said they needed more time to review last-minute material. Not only is the proposed budget for the current fiscal year increasing about 15% to $2.87 billion, it also includes a rate hike that hasn’t been approved yet. Normally, if the city-owned utility is proposing a rate increase, it goes to the board and City Council to get it approved before coming back with the proposed budget. But CEO and President Rudy Garza said the utility hasn’t gone to council yet, partially because San Antonio had a new City Council that “needed to get their feet on the ground.”
“The difference in this year, because we delayed our consideration of it, is we’re approving a budget generally that includes a rate increase before the rate increase actually happens,” Garza said at the Monday afternoon board meeting. “Traditionally, that’s not the way it works.” CPS hasn’t even conducted a cost of service study that is supposed to be done before it requests a rate increase. Chief Strategy Officer Elaina Ball said the utility is in the process of selecting a provider to conduct the study within the next two to three months.
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KERA (NPR) – February 25, 2026
Texas on track to lead nation in energy storage, report finds
Texas is on track to lead the country in energy storage capacity as the state sees rapid growth in the number of battery storage facilities. That’s according to arecent report from the Solar Energy Industries Association.
“Texas has the fastest-growing battery storage market in the country,” said Daniel Giese, the solar association’s state affairs director for Texas. These battery facilities capture electricity and release it to the power grid when energy demand spikes or supply is low. The state is on track to surpass California for the most energy storage capacity in the U.S., the report found.
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Utility Dive – February 25, 2026
NRG has ‘zero interest’ in speculative new capacity build: CEO
NRG Energy is making it a priority to meet the demand driven by data centers, and aiming to serve that growth with a bring-your-own-power framework, but is committed to avoiding the mistakes of the early-aughts gas bubble, said CEO, President and Chairman Larry Coben in a Tuesday earnings call.
“Your contracts will be mainly driven by capacity payments, but I still have only about a 10-to-15 year contract for an asset that has a 40-year useful life,” said Angie Storozynski, managing director and senior equity research analyst at Seaport Research Partners on the call, referring to NRG’s planned buildout of gas generation to meet large load demand.
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KFOX – February 25, 2026
El Paso residents report natural gas bills nearly doubling, citing surprising fees
El Paso residents said they were caught off guard after opening their latest gas bills, which were far higher than what they had been paying in recent months, with some customers reporting totals that nearly doubled. Several customers said they did not receive notice of a new increase.
After looking more closely at their statements, some said they noticed specific charges that appeared to jump sharply.Karla Urias Couder said one line item stood out. “There’s a particular charge, a delivery charge. The delivery charge all of a sudden jumped up from $1 or $2, $3 to a $28 charge. And somehow the customer charge jumped up to $35,” Couder said. “We noticed this month that the gas bill was ridiculously expensive. It went from between $50 and $60 to almost double that price at $132.”
Regulatory
The Hill – February 25, 2026
Senators press Trump BLM nominee over past support for public land sales
Senators on Wednesday pressed President Trump’s pick to lead the Bureau of Land Management (BLM) over his past statements in favor of selling some of the nation’s public lands. In response to concerns raised primarily but not exclusively by Democrats, former Rep. Steve Pearce (R-N.M.) said the Trump administration does not plan to hold mass sales of public lands.
“I don’t visualize selling large swaths of land,” Pearce said in response to questions from Sen. Ron Wyden (D-Ore.). “I do not believe that we’re going to go out and wholesale land from the federal government,” Pearce added. Sen. James Risch (R-Idaho) also brought up the issue.
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The New York Times – February 25, 2026
Don’t Look Now, but the Green Transition Is Still Happening: David Wallace-Wells*
In January, a total of seven gas-powered cars were sold in all of Norway. This year, Pakistan expects that parts of the country will get more electricity from decentralized rooftop solar than from its entire electricity grid during parts of the day. In the United States, where we often tell ourselves we are in the grips of climate backlash and fossil fuel retrenchment, Texas has been setting new solar records through frigid February, around 90 percent of all new power capacity installed anywhere in the nation last year was green, and the share of renewables is expected to be even higher next year. The new “breakout star” of the battery world is the notorious petrostate Saudi Arabia, the countries with the biggest growth in solar power are concentrated in sub-Saharan Africa, and Australia’s breakneck pursuit of clean energy too cheap to meter is so far along that electricity prices in some regions have fallen by a third in a single year. Parts of the country have announced that they will be giving away electricity for free for three hours a day. That isn’t an accident. It’s a state promise, which Australians can expect to take to the bank going forward.
These days, it sometimes seems as if the whole world is retreating on climate and green energy, with the fever of alarm giving way to what’s been called a new energy realism. Part of this is simply the return of President Trump, who still calls global warming a hoax, who took a wrench to President Joe Biden’s landmark climate bill, who promised oil and gas executives he would do their bidding in exchange for sufficient campaign contributions, who justified the kidnapping of the Venezuelan president, Nicolás Maduro, partly by citing the country’s oil reserves, and who just announced that the federal government has entirely revoked its longstanding commitment to treating carbon emissions as a harmful pollutant and global warming as a serious problem.
The repeal of the endangerment finding is an outrage: a see-no-evil, hear-no-evil declaration of indifference to an ever-intensifying crisis. But it isn’t just Trump: Liberal politicians who used to routinely invoke the existential stakes of climate change have moved on, too, now preferring to talk about energy affordability. And it isn’t just America, either. In Europe, imports of natural gas are expected to reach record highs this year, and China, which has become the global face of green energy over the last half decade, has been building more coal plants than at any point since before the Paris agreement. World leaders mostly skipped the last big climate conference, as they did the one before it. Few countries anywhere in the world are passing new climate policies into law anymore. After a period of growing concern and accelerating momentum, the project of greening the world’s energy systems certainly feels as if it has been thrown into reverse.