Texas Energy Report NewsClips
Thursday July 23, 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 Thursday after a tanker was struck by an unknown projectile off Saudi Arabia and as U.S. President Donald Trump threatened to bomb Iranian infrastructure.
The United Kingdom Maritime Trade Operations on Thursday Asia time posted on social media platform X that a tanker was hit around 70 nautical miles southwest of Al Shuqaiq. The strike sparked a fire onboard that the crew was fighting, although there were no reported casualties.
West Texas Intermediate crude futures advanced more than 3% to $89.64 per barrel.
Brent crude futures for September delivery gained 4%% to $98.02 per barrel.
The attack came hours after Trump warned the U.S. would destroy an Iranian bridge or power plant each time Tehran attacks a ship in the Strait of Hormuz, signaling a further escalation in tensions following the collapse of the U.S.-Iran ceasefire, according to CNBC.
Top Stories
Business Standard – July 23, 2026
The Iranian-aligned Houthis today (23 July) claimed military strikes on two Saudi oil tankers as part of a naval blockade on Saudi Arabia, advancing toward a second chokehold on world oil supplies at the Red Sea in coordination with Iran’s attempt to control the Strait of Hormuz. Meanwhile the US military said on yesterday (22 July) it launched a new round of strikes on Iran at President Donald Trump’s direction, marking a 12th successive night of American attacks.
The Yemen-based militants, who control areas near the Bab el-Mandeb Strait on the opposite end of the Arabian Peninsula from the Strait of Hormuz, said on Monday (20 July) they were imposing a naval blockade on Saudi Arabia in what some analysts have viewed as a tactical move by Iran to seek leverage. Even before the renewed threats to shipping traffic in the Red Sea, Iran’s near-total blockade of the Strait of Hormuz had stoked inflation around the world, pushing up oil prices and squeezing US gasoline consumers at a time when the unpopular war has put Trump’s Republican allies under pressure ahead of congressional elections in November.
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E&E News By Politico – July 22, 2026
Texas transmission policy sharpens US competition fight
Calls are growing for Texas to end monopoly dominance over major electric transmission projects — just as other regions hope to follow its approach and reduce competition. The Lone Star State is preparing for a $33 billion build-out of power lines from El Paso to East Texas, and critics are urging Texas lawmakers to repeal a 2019 law that largely bans competition for transmission projects within the state’s main grid. The Electric Reliability Council of Texas doesn’t have to allow competitors for transmission projects because it sits outside the jurisdiction of the Federal Energy Regulatory Commission. FERC rules for the rest of the country require large transmission projects to undergo a competitive bidding process.
But the status quo is under threat inside and outside of Texas. Utilities say they could further streamline projects if they had Texas’ pro-utility law, while critics argue that more competition would help lower transmission costs shared by customers. “If we can save 20, 30, 40 percent by bidding out a project, that gives the transmission company the flexibility to be more accommodating in twisting and curving the line in a way that makes landowners less unhappy,” said Barry Smitherman, a former regulator who chairs the Texans for Affordable Transmission advocacy group. Utilities in a middle swath of the country, meanwhile, are looking to bring Texas’ incumbent-only model to their backyards.
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Inside Climate News – July 22, 2026
Environmental Groups Contest Texas Data Centers’ Air Pollution
Related: Three environmental groups are issuing an ultimatum to developers of a pair of West Side San Antonio data centers, telling them to clean up alleged violations of clean air laws or face a federal lawsuit — In a letter sent Wednesday, the Environmental Integrity Project, Sierra Club and Public Citizen said the projects built by Denver-based Vantage Data Centers and Houston-based VoltaGrid have skirted federal laws intended to control air pollution from their on-site gas-fired and diesel generators — San Antonio Express-News*
Two data centers in San Antonio face a looming legal challenge from environmental groups over their air pollution. The nonprofits Environmental Integrity Project, Sierra Club and Public Citizen sent a notice that it intends to sue within 60 days to Vantage Data Centers and VoltaGrid LLC on Wednesday, claiming they are circumventing federal enforcement.
The letter alleged the companies built diesel generators and natural gas power plants without the proper permits. The groups said the data centers improperly registered as “minor” air polluters under the Clean Air Act, requiring less scrutiny than if they had applied for “major source” permits. The Environmental Integrity Project concluded in early July multiple data centers across the country have followed the same strategy.
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Austin American-Statesman – July 23, 2026
Tesla profit falls as spending rises to meet Musk’s goals on AI, robots and robotaxis*
Pressured by rising operating costs driven by investments in AI and robotics, Tesla Inc. said profit fell in the second quarter despite higher revenue. The Austin electric vehicle, battery and robotics company reported a 5% decline in profit as operating expenses jumped 47%, largely due to increasing spending on artificial intelligence, ramping up for production of robots and other research and development projects. “It’s OK to be a little less capital efficient if we can get things done sooner,” CEO Elon Musk told investors and reporters, arguing the spending will drive future gains. “We’re doing an incredible amount of construction and production growth in so many different arenas simultaneously.”
Revenue rose 26% to $28.24 billion, largely on strong automotive sales and services revenue. The gain helped push the company’s 12-month revenue to more than $100 billion, a first for Tesla. Profit fell to $1.11 billion, well shy of analyst expectations. Capital expenditures will continuing increasing for the rest of the year, CFO Vaibhav Taneja said, driving full-year spending to more than $25 billion. He also said spending will keep increasing for the next two to three years as Tesla expands its fleet of robotaxis, adds AI infrastructure and builds more production capacity for its Optimus humanoid robot.
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Reuters – July 22, 2026
GE Vernova misses core profit estimates as Wind weakness persists*
Related: GE Vernova Boosts 2026 Revenue Target — the energy company now expects $45.5 billion to $46.5 billion in revenue for the year, up $1 billion from last year — The Wall Street Journal*
GE Vernova missed Wall Street estimates for second-quarter adjusted core profit on Wednesday as losses in its Wind business widened, overshadowing strong growth in its Power and Electrification units. The Wind unit was hurt by weak onshore demand and higher offshore project costs, even as the company benefited from surging demand for gas turbines and grid equipment as utilities expand capacity to meet electricity needs from AI data centers and electrification.
GE Vernova raised its 2026 revenue forecast to $45.5 billion-$46.5 billion from $44.5 billion-$45.5 billion previously. It updated its 2026 tariff hit forecast to $100 million-$200 million from $250 million-$350 million projected in April, citing contractual provisions, sourcing changes, trade regulations and tariff refunds. Wind orders fell about 40% from a year earlier, while segment EBITDA losses widened to $275 million from $165 million.
The Latest TERse Tips
Tropical Storm Bertha makes Louisiana landfall as it turns toward Texas — Although Bertha has steadily weakened throughout Wednesday as dry air and increasing wind shear disrupted its circulation, it is expected to remain a tropical storm through late Thursday. Tropical storm conditions continued spreading westward along the northern Gulf Coast as the storm moved toward Texas — Houston Chronicle*
Sticker shock is hitting El Paso households hard this summer as electric bills climb well above what residents were paying a year ago — the jump is not just about hotter weather causing heavier air conditioner use, either. It’s mostly because of new seasonal pricing and a higher monthly charge that recently took effect, according to KFOX14
Toyota Motor Corp. has started laying the groundwork for its $3.6 billion expansion of the South Side plant, filing plans with the state for what it’s dubbed the “Make Space” project — San Antonio Express-News*
S&P Global Ratings today assigned its ‘BB-’ issue-level rating and ‘4’ recovery rating to Howard Midstream Energy Partners LLC’s proposed $600 million senior unsecured notes — S&P Global
Fitch Ratings has placed WildFire Energy Intermediate Holdings, LLC’s and its parent’s, WildFire Energy I LLC, Long-Term Issuer Default Ratings (IDR) of ‘B+’, senior unsecured notes of ‘BB-’ with a Recovery Rating of ‘RR3’, and reserve-based lending facility (RBL) of ‘BB+’/’RR1’ on Rating Watch Positive — Fitch
Energy firm Williams Companies has acquired its namesake office tower in Houston, marking a new chapter for the 64-story skyscraper that has defined the Uptown skyline for 40 years, according to the Houston Chronicle — the deal closed July 20 and includes the 1.4-million-square-foot office tower and a parking garage, said Glen Jasek, a senior vice president at Williams’ Houston office, in an interview. Jasek declined to disclose the sale price — Williams agreed to pay more than $300 million for the property, in one of the area’s largest single-property office trades since 2019, according to industry news site Green Street News.
The Trump administration on Wednesday announced what it described as a peaceful nuclear cooperation agreement with Saudi Arabia, hailing it as an economic triumph. But critics and nuclear experts have raised concerns around safeguards to prevent Riyadh from developing a nuclear weapon — The Hill — The Wall Street Journal calls Saudi nuclear enrichment a “mistake”
China reportedly slashed its crude oil imports by 5 million barrels per day, a reduction so large it would effectively cut the country’s purchases roughly in half — for context, China has historically imported north of 10 million bpd during peak periods, making it the single largest buyer of crude on the planet — Crypto Briefing
Once Asking $125 Million, Bill Koch’s Aspen Home Fetches $33.515 Million — The Wall Street Journal*
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Oil & Gas Texas
Bloomberg – July 22, 2026
Chevron Seeks $224 Million From Ecuador in Amazon Pollution Fight*
Chevron Corp. is asking a US federal court to enforce a $224 million award against Ecuador, the latest development in a long-running legal dispute over Amazon pollution claims. The saga stretches back to 1993, when residents of Ecuador sued Texaco Petroleum, claiming that the company contaminated their water supplies by dumping oil and toxic wastewater into the jungle. Texaco was later acquired by Chevron. An Ecuadorian court in 2011 ordered Chevron to pay $9.5 billion in damages. But a US judge scrapped that award three years later, concluding that the plaintiff’s legal team won through fraud and bribery. The American lawyer who won the judgment was disbarred and sentenced to six months in jail.
In November, a tribunal at The Hague ordered Ecuador to pay Chevron legal costs plus interest. The country challenged that decision in March, however. Chevron’s demand reflects the original award issued by The Hague late last year, along with interest, according to a July 17 filing. The award stems from what Chevron, through its counsel Kobre & Kim, called Ecuador’s “blatant disregard” of international law in the petition. The government of Ecuador incurs $33,700 in interest each day it doesn’t pay up, the company said in the filing.
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Offshore Energy – July 22, 2026
Chevron’s Cypriot gas project edges closer toward binding supply deal with Egypt
Chevron Cyprus, a subsidiary of the U.S.-headquartered oil major Chevron, and its partners, BG Cyprus (Shell) and NewMed Energy, have made inroads in securing a binding agreement for the sale of gas to Egypt from an offshore gas field reservoir in Block 12, located in the Eastern Basin of the Mediterranean Sea. While reporting what it deems as “another important step forward” for the Aphrodite gas field development, NewMed explained that the partnership completed the signing process after initiating a memorandum of understanding (MoU) for the sale of natural gas from the reservoir to Egypt, marking another important milestone in advancing the project.
The host government agreement (HGA) with the Egyptian government is expected to be finalized in the coming weeks, while negotiations continue toward the execution of the binding gas sale and purchase agreement (GSPA) with the Egyptian Natural Gas Holding Company (EGAS).
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The New York Times – July 22, 2026
Judge Strips Protections for Imperiled Lizard at Trump Administration’s Behest*
At the request of the Trump administration, a federal judge in Texas has stripped endangered species protections from a small lizard whose habitat overlaps with the largest oil-producing region in the United States. It was the latest twist in a long-running fight over the fate of the dunes sagebrush lizard, a light brown reptile found only in portions of the oil-rich Permian Basin in southeastern New Mexico and West Texas. The Biden administration classified the lizard as endangered in 2024, saying it faced grave threats from oil and gas development and climate change. But the state of Texas sued, and the Trump administration asked the judge to remove the lizard from the endangered species list as part of a settlement with the state.
The judge, David Counts of the U.S. District Court for the Western District of Texas, approved the settlement on Tuesday. Judge Counts, who was appointed by President Trump, found that the Biden administration’s evaluation of the lizard’s habitat was “potentially inaccurate.” It was the second time in a year that Judge Counts allowed the Trump administration to remove an animal from the endangered species list in response to a lawsuit brought by industry or states. In the previous case, Judge Counts agreed to rescind protections for the lesser prairie chicken, another species whose habitat puts it in conflict with the oil and gas industry. And the administration has moved to do the same in a third case, this one involving seven species of freshwater mussels found in rivers and creeks in Central Texas. In all three instances, the Trump administration has argued that Biden-era findings in favor of safeguarding the species were made in error or with incomplete information.
Exxon Mobil’s challenge to a $691 fine has led an appellate court to strike down a Clinton-era federal mental health regulation. The case mixes workplace health and safety regulations, a harrowing 2021 refinery fire, and the Supreme Court’s recent ruling giving judges more power to strike down federal rules.
“However commendable [the Occupational Safety and Health Administration’s] desire to improve mental health in the workplace, like all agencies, OSHA’s authority to regulate toward that end is constrained by the limits of power Congress delegated to the agency,” wrote Judge Cory Wilson of the 5th U.S. Circuit Court of Appeals, a Trump appointee. “OSHA’s reading of [the Occupational Safety and Health Act] to encompass the power to regulate workplace mental illnesses may be plausible. But the best reading of the statute is narrower: that ‘illnesses,’ as used there, refers to physical, and not mental, work-related ailments and conditions.”
Oil Price – July 22, 2026
New Pipelines Set To Ease Permian Natural Gas Glut
The regional price of natural gas produced in the Permian, the top U.S. oil basin, was negative for most of the first half of the year. Rising associated gas output from oil-targeting wells has had nowhere to go. Producers had to either flare the gas, within allowed limits, or pay to get rid of what many Permian players see as an undesirable by-product of the valuable crude.
For years, the key constraint to local gas prices has been the insufficient pipeline takeaway capacity, which hasn’t grown in lockstep with the soaring gas production from oil-directed rigs as operators boost output in response to higher oil prices. As a result, the natural gas spot price at the Waha hub, the regional pricing benchmark reflecting Midland-area gas production and pipeline capacity constraints, averaged -$2.19 per million British thermal units (MMBtu) in the first half of 2026. The Waha price hit a record low of -$7.95 at the end of April, over $10 per MMBtu lower than the national benchmark at Henry Hub of about $2.70 per MMBtu at the time.
Oil & Gas National & International
S&P Global Platts – July 22, 2026
Houthi threat to Saudi port traffic adds fresh Red Sea shipping risk: analysts
The Houthis’ latest threat to strike tankers calling at Saudi Arabian ports has opened a second major chokepoint on an already strained global energy supply chain, maritime and naval analysts said July 22 during a Middle East Institute webinar. The Red Sea corridor carries 12%-15% of global maritime trade and about 30% of container traffic, said moderator Mirette Mabrouk of the Middle East Institute, who noted the Houthis had shifted within days from threatening Israeli-linked vessels to warning shipping companies against using Saudi ports.
The escalation comes as Saudi Arabia routes more crude through its East-West pipeline to Yanbu, lifting flows through the Suez Canal by about 30%, said retired US Navy Vice Admiral Kevin Donegan, a former director of operations at US Central Command. “Being able to potentially stop those shipments is going to be another shock or another impact on this global energy flow,” Donegan said.
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The Wall Street Journal – July 22, 2026
Trump Says U.S. Will Bomb Iran’s Power Plants, Bridges if Tehran Strikes Ships*
Related: U.S. Surges Forces Toward Middle East, Giving Trump Options to Expand Iran War — the influx of troops, medics and weaponry follows the deaths of three American soldiers in Iranian attack at a base in Jordan — The Wall Street Journal*
President Trump threatened to destroy Iranian infrastructure if Iran attacks vessels transiting the Strait of Hormuz, in the latest sign he is planning to escalate the conflict. Trump wrote on Truth Social Wednesday that the U.S. will “bomb and destroy ONE BRIDGE OR POWER PLANT,” including infrastructure in or near Tehran, every time Iran shoots at a ship in the strait. The president’s comments are the latest indication that the two countries might return to full-scale war. On Tuesday, he said U.S. military forces would likely attack Iran’s Pickaxe Mountain, the underground site where Israeli intelligence believes Iran has buried advanced nuclear-enrichment centrifuges, “pretty soon.” Iran’s Foreign Minister Abbas Araghchi responded in a post on X: “Any aggression against Iran, including our infrastructure, will compel a powerful and decisive response.”
Trump’s threats come days after Iran launched a barrage of missile and drone attacks against U.S. bases in Jordan. Three soldiers were killed there in a strike that hit containerized housing units where the troops lived and slept. A fourth servicemember was killed last week in Iraq during a controlled detonation of unexploded ordnance from a downed Iranian drone. Since then, the U.S. military has launched multiple rounds of strikes that officials said were intended to degrade Iran’s ability to attack commercial shipping in the strait. After the soldiers’ deaths, Trump threatened on social media to retaliate. “Every time Iran kills an American Soldier they will pay for that killing many times over! This directive has been passed on to Secretary of War, Pete Hegseth, Chairman of the Joint Chiefs of Staff, Daniel Caine, and every Leader in the Military,” Trump wrote.
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Pipeline Technology Journal – July 22, 2026
Enbridge Begins Construction on $4B West Coast Pipeline Expansion in Canada
Groundwork has officially begun on a $4 billion expansion of the West Coast natural gas pipeline, a project designed to boost regional energy capacity and supply emerging liquefied natural gas export hubs. The Sunrise Expansion Program will add up to 300 million cubic feet per day of natural gas transportation capacity in British Columbia. Federal Minister of Energy and Natural Resources Tim Hodgson marked the start of construction at a ceremony in Prince George alongside local and Indigenous leaders.
“Today we’re turning the page from plans to action,” Hodgson said, noting that ground broke just three months after federal approval. The project centers on adding five 42-inch diameter pipeline loops—additional pipe sections built alongside the existing system to increase flow.
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S&P Global Platts – July 22, 2026
US Trade Representative eyes interim trade deals with Canada, Mexico by year-end
US Trade Representative Jamieson Greer said he hopes to reach interim trade arrangements with Canada and Mexico by the end of the year as the US, Mexico, and Canada renegotiate a free trade agreement. The United States-Mexico-Canada Agreement is now subject to annual reviews after the US decided not to renew the trade pact for a 16-year extension. Canada is a major supplier of steel, aluminum, lithium, natural gas, oil and electric power to the US, while Mexico supplies silver and steel to the US. On July 20, the US imposed fresh new tariffs on Canadian goods, but metals were largely excluded.
“I’m hopeful that before the end of the year we can have at least options for President Trump and the leaders of Canada and/or Mexico to consider potential interim arrangements, or things that Canada can do on the one hand and Mexico can do on the other hand, to strengthen enforcement to improve their commitments toward us,” Greer told the Senate Finance Committee on July 22.
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Arab News – July 22, 2026
Iraq’s oil minister says US energy deals worth about $200 billion
Iraq’s oil minister said on Tuesday that agreements signed between the oil ministry and US companies during the Iraqi Prime Minister Ali Al-Zaidi’s visit to US were estimated at $200 billion.
In an interview with Iraqi state television, the minister Basim Mohammed said the agreements would add significant oil production capacity and increase investment in associated gas projects.
He also said Iraq’s oil production capacity currently stands at 4.8 million barrels per day.
Iraq grapples with the challenge faced by many oil-producing nations: attracting investment and expanding production while remaining constrained by the OPEC+ producers’ group output limits.
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Daily Energy Insider – July 15, 2026
Peninsula Pipeline to build new natural gas pipeline in Florida
Peninsula Pipeline Company (PPC) is launching the Florida Energy Pathway, a new intrastate natural gas infrastructure project in south Florida. The $1.2 billion project will be developed, constructed and operated by PPC, which is a subsidiary of Chesapeake Utilities Corporation. The pipeline will seek to expand natural gas transportation capacity to address regional supply constraints, enhance system reliability and extend natural gas infrastructure to serve homes and businesses.
It will be a 24-inch intrastate natural gas pipeline originating in Palm Beach County and terminating in Miami-Dade County. The project is anchored by firm commitments totaling nearly 250,000 dekatherms per day from multiple investment grade shippers. Upstream capacity will be supplied by Florida Gas Transmission.
Utilities, Electricity & Renewables
Yahoo! News – July 22, 2026
Texas grid breaks power demand record amid statewide heat wave
Related: Texas’ Grid Operator Prepares for More Demand Than Ever This Week — amid triple-digit temperatures, solar and storage have created far more breathing room than in the last stretch of record energy demand — Inside Climate News
The Texas electric grid set a record for power demand Wednesday afternoon, when Texans were cranking up their air conditioners to contend with temperatures climbing into triple digits across the state. Usage hit a record 91,308 megawatts at 5 p.m., according to data from the Electric Reliability Council of Texas, which operates the statewide grid. That topped an unofficial record reached just a day earlier, when hourly demand hit 87,403 megawatts, a summer usage high that beat the previous official record of 85,508 megawatts, which was set in August 2023.
Energy demand was expected to continuing climbing, with usage projected to peak by 3 p.m. at 90,155 megawatts. Despite demand reaching new highs, ERCOT said the grid was operating under normal conditions with capacity remaining comfortably above demand. When electricity demand topped the record at midday, data from the grid operator showed capacity topped 109,300 megawatts. Solar accounted for more than 38% of total capacity, though natural gas remained the No. 1 source of energy generation on the grid operated by ERCOT.
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Texas Tribune – July 22, 2026
James Talarico calls for tighter regulations on data center development
Democratic U.S. Senate nominee James Talarico on Wednesday called for a broad set of tighter regulations on data centers in Texas, seizing on what has become a potential political liability for Republicans who until recently had embraced the explosion of artificial intelligence-driven development in the state.
“Texas should be a leader when it comes to innovation and technology, but that only works if Texans get a say and get a share of that economic growth — and that’s not what’s happening right now,” Talarico said at a news conference in Austin where he rolled out his plan. “We’re often told in our politics that we have to choose between policies that are pro-growth and pro-people. I reject that choice, and the plan that we’re outlining today to hold data centers accountable, I think, strikes a balance between welcoming those investments while also protecting working people.”
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Morningstar – July 22, 2026
Fermi receives first turbines for Texas AI power project
Fermi Inc on Wednesday said three Siemens Energy AG natural gas turbines have arrived at the Port of Houston for its Project Matador development in Texas, marking a milestone in the build-out of what it expects to become the largest combined-cycle natural gas project in the US. The Dallas, Texas-based artificial intelligence infrastructure and private power grid developer said the three Siemens Energy SGT6-5000F turbines, each capable of generating up to 260 megawatts in simple-cycle mode, will form the backbone of the second phase of Project Matador near Amarillo, Texas.
Together, the turbines are rated at up to 780 megawatts in simple-cycle mode. The company said commissioning of the equipment keeps it “well ahead of competitors” in bringing gigawatt-scale power online. The latest delivery follows Fermi’s appointment of Spanish engineering firm TSK for early works on the second phase of the project and Primoris Services Corp to construct the balance of plant for six Siemens SGT-800 turbines in the first phase.
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Austin American-Statesman – July 22, 2026
Taylor residents are suing the Austin suburb to force a public vote on data center bans*
Taylor residents are suing their city in an attempt to force it to call an election on a resident-led initiative to temporarily ban data centers. The suit in the 3rd Court of Appeals comes after the Taylor City Council this month declined to take action on the residents’ petition, which called for suspension of approvals until the city creates a new zoning designation specifically for data centers. The water- and electricity-hungry developments are facing increasing pushback across the state. City officials said state law does not allow them to change zoning by popular vote. But leaders of the petition — which garnered more than 1,400 signatures — are asking the Austin court to force the city to take action, arguing in part that its failure to do so in their July 9 meeting violated the state’s Open Meetings Act.
“This is not about whether data centers belong in Taylor — it’s about whether our city charter means what it says,” said Jose Orta, a resident and community organizer. “We believe the charter required the council to act. They didn’t. Now we’re asking the courts to compel them to do their job and call an election as required by the Taylor city charter.” The suit aims to force the city to place the petition’s proposal on the ballot by November.
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Denton Record-Chronicle – July 22, 2026
Denton utility rates are on track to increase as electric revenue comes in $200M shy of projections
Denton residents could see rate increases for water, wastewater and electric service next year if the City Council approves staff recommendations in the proposed 2026-27 budget in September. According to a presentation during Tuesday’s council meeting, the city staff proposes rate increases of 3% for water service, 9% for wastewater, 5% for drainage and 3% for electric.
The average residential ratepayer’s monthly utility bill would increase by $8.30 according to city projections, from a monthly bill of $267.82 this year to $276.12 starting in October. That’s an overall increase of 3.1% in the average residential bill. … Staff also proposed adding a credit card processing fee for online payments starting Oct. 1.
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San Antonio Express-News – July 22, 2026
Tesla powers up plans for $172K project in tiny Hill Country town
If you ever find yourself driving an electric vehicle through the Texas Hill Country, you might be excited to hear about a new Tesla project coming to Comfort, Texas, a tiny, historic and buzzy town north of Boerne. The Austin-based company plans to build a new development along U.S. Highway 87, outside a QuickTrip location and across the street from the James Avery Production Facility, according to a new filing with the Texas Department of Licensing and Regulation (TDLR).
The new filing marks Tesla’s growing footprint in the Hill Country as the automaker continues to expand its infrastructure statewide. Although the $172,000 development is relatively small compared with other incoming Tesla projects, such as a $10.4 million sales and service center along Interstate 35 in New Braunfels, it could make travel through one of the region’s busiest tourism corridors more convenient for electric vehicle drivers.
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Renewable Energy Magazine – July 22, 2026
Spearmint Energy Secures Nearly $450M Project Financing for 600 MWh BESS
Spearmint Energy has successfully closed approximately $450 million of financing to support Red Egret, a 300 MW/ 600 MWh standalone Battery Energy Storage System (“BESS”) in the City of Texas City, Texas. Andrew Waranch, Founder, President, and Chief Executive Officer of Spearmint, said, “As aging grid infrastructure meets unprecedented growth in electricity demand, this financing supports Spearmint’s ability to increase energy resilience in ERCOT through battery energy storage systems. Through our development of Red Egret, we are working to strengthen reliability and deliver safe, cost-effective power to homes and businesses in Texas City and throughout the Texas Gulf Coast.”
The Construction Facility comprises financing to construct the project totaling $225 million and is provided by a consortium of banks led by First Citizens Bank and Investec as Coordinating Lead Arrangers and Joint Bookrunners, Nord/LB as Joint Lead Arranger and East West Bank as Mandated Lead Arranger.
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Reuters – July 21, 2026
Virtual power plants rise to tackle data center challenge*
Utilities, state energy agencies, and device aggregators are increasingly turning to virtual power plants (VPPs) to meet surging demand and boost network efficiency. VPPs aggregate distributed energy resources such as batteries, electric vehicles, and smart thermostats. They can manage tens of thousands of devices in unison, maximizing the amount of available power at any given time, and allowing utilities to effectively use underutilized grid infrastructure.
U.S. VPP capacity rose 13.7% in 2025 to 37.5 GW, according to Wood Mackenzie. California, Texas, New York, and Massachusetts led growth with 37% of all VPP deployments, while the PJM network in the East and the Texas ERCOT transmission areas, which are at the epicenter of the data center boom, have the greatest disclosed VPP capacity, Woodmac found.
Regulatory
July 22, 2026
The Washout of Tom Craddick’s Overriding Royalty: John McFarland, Graves Dougherty Hearon & Moody
Recently the El Paso Court of Appeals affirmed a judgment denying Tom Craddick’s claim that Cimarex and BPX had conspired to wash out his overriding royalty interest in an oil and gas lease owned by BPX. Craddick v. Cimarex Energy, et al., No. 08-24-00010-CV. An overriding royalty is created when the owner of an oil and gas lease assigns the lease but reserves a royalty interest in production. An overriding royalty can also be created by assignment from the lessee. Because the overriding royalty is carved out of the lessee’s working interest, it terminates when the lease terminates.
A “washout” of an overriding royalty occurs when the lessee releases the lease even though there is a well or wells on the lease that continues to produce in paying quantities. The overriding royalty is “washed out” by the release. Tom Craddick claimed that Cimarex’s agreement with BPX – a complex “swap” in which Cimarex, the owner of the mineral interest underlying the lease, would convey other minerals to BPX in exchange for BPX’s release — violated a duty BPX owed to Craddick as owner of the overriding royalty. Based on prior precedent, the Court of Appeals held that BPX owed Craddick no duty to keep the lease in force.