Texas LG Pipeline Buildout -- November 23, 2025

Locator: 49786TEXASPIPELINES.

Tag: Permian. 

Nothing new here but this helps me understand the numbers associated with NG, LNG, pipelines, etc.

Link here. 

See also a downloadable map at the Oil & Gas Journal: link here.

Another Texas Natural Gas Pipeline -- November 21, 2025

Locator: 49774EPD.

Link here. 

Ticker EPD:

Note: OKE is down 40% for the year; down 13% over the last six months.

***************************
The Book Page

The notes for this book at this site. 

Book for the weekend. Just arrived. Amazon. Published 2023. 

Author's bio. Something tells me this will be a history of Palo Alto of which few are aware. LOL. 

The author appears to be a bit farther to the left than Nancy Pelosi, and a bit crazier than Hunter S Thompson. This should be fun! 

Abilene, TX -- Already Home To OpenAI's Stargate, Now Google Will Build Three New LDCs in Texas, Two Of Them Located Close to OpenAI's Abilene Campus -- November 15, 2025

Locator: 49723LDC. 

Link here. 

More from Beth, this time re: Nvidia, link here:

********************************
The Science Page

Link here.

I'm posting this for Sophia who has expressed an interest in marine biology.

From the linked article:

Scientists long assumed that cold vents, without the mineral-rich plumes that make active vents so mesmerizing, didn’t host unique lifeforms. The species they saw on them, including sponges and anemones, were also found elsewhere in the deep sea, suggesting that inactive vents were basically just rocks that common species sometimes landed on, rather than interesting ecosystems in their own right.

“It turns out that we just weren’t looking very closely,” says Jason Sylvan, a marine microbiologist at Texas A&M University. 

On a research cruise with other scientists, Sylvan suggested taking a closer look: “I was obsessed with the inactive vents,” he recalls. So in early 2024, his colleagues scoured cold vents at a site known as Nine North, about 560 miles off Mexico’s southwest coast.

Scientists long assumed that cold vents, without the mineral-rich plumes that make active vents so mesmerizing, didn’t host unique lifeforms. The species they saw on them, including sponges and anemones, were also found elsewhere in the deep sea, suggesting that inactive vents were basically just rocks that common species sometimes landed on, rather than interesting ecosystems in their own right. “It turns out that we just weren’t looking very closely,” says Jason Sylvan, a marine microbiologist at Texas A&M University. On a research cruise with other scientists, Sylvan suggested taking a closer look: “I was obsessed with the inactive vents,” he recalls. So in early 2024, his colleagues scoured cold vents at a site known as Nine North, about 900 kilometers (560 miles) off Mexico’s southwest coast.

These vents, by the way, are thought to be the "origin of life." 

November 12, 2025 -- And It Continues

Locator: 49407MARKET.

Coinbase: leaving Delaware, relocating to Texas / reincorporating in Texas. All due to regulations.  Link here. Link here. 

CVX: getting ready to make FID on Leviathan. Part of $2.4 billion Leviathan field expansion. Seems like a no-brainer? With Guyana and now Leviathan, CVX seems to be hitting on all cylinders.

Guyana: on a side note, "Guyana" continues to get a lot of headlines, but in the big scheme of things, Guyana seems about the same size as the Bakken.  

Intel vs AMD: for as long as any of us have been investing, it was "always" AMD competing with Intel. This morning, CNBC had a very, very long interview with the AMD CEO, Lisa Su. It was an incredible interview, mostly for the length, if not necessarily the quality of the questions or the answers. Most interesting was when Joe Kernen asked the question many have been asking, "what happened to Intel," and then showed this graphic:

I asked "ChatGPT" this same question some weeks ago, and it came down to this. It all changed when Intel made the decision to not provide a chip / not partner with Apple on the iPhone. Apple approached Intel first for a cellular phone chip and Intel said they could not see the "profit" advantage, and so they declined to partner with Apple. Apple is incredibly difficult to deal with, according to most sources, and Apple's demands were simply too tough to meet for Apple. 

So, when did Intel make that decision?  

Based on what I know now, Apple lucked into the right decision. Pure luck. A random thought: one wonders if Intel CEO was too close to Steve Ballmer in his thinking regarding the $500 iPhone? LOL. Eightteen years ago. Arm, wiki. 

*************************************

Disclaimer

Brief Reminder

Briefly:

• I am inappropriately exuberant about the Bakken and I am often well out front of my headlights. I am often appropriately accused of hyperbole when it comes to the Bakken.
• I am inappropriately exuberant about the US economy and the US market.
• I am also inappropriately exuberant about all things Apple. 
• See disclaimer. This is not an investment site. 
• Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. 
• All my posts are done quickly: there will be content and typographical errors. If something appears wrong, it probably is. Feel free to fact check everything.
• If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them. 
• Many posts are not proofread for several days after they've been posted.  
• Reminder: I am inappropriately exuberant about the Bakken, US economy, and the US market.
• I am also inappropriately exuberant about all things Apple. 
• And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia. Nvidia is a metonym for AI and/or the sixth industrial revolution.
• I've now added Broadcom to the disclaimer. I am also inappropriately exuberant about all things Broadcom.
• And Oracle. 
• Longer version here.

Wells Fargo: Huge New Campus Opens North Of Dallas -- Irving, Texas -- October 24, 2025

Locator: 49495TEXAS. 

Link here. Fascinating: his comments on NYC and San Francisco.

Texas relocations are tracked here. Also here. 

News release, yesterday, October 23, 2025:

 

 

 

Stargate -- Update -- How In The World Did We We All Miss This! September 23, 2025

Locator: 49203AI.

Updates

September 25, 2025: from Beth. Stargate. Unprecedented. 

Original Post 

Don't take this out of context and this is not investment advice but I'm beginning to wonder if investors can keep up with all these opportunities. Has anyone ever seen anything like this ever before? The AI revolution? The Fourth Industrial Revolution? The Six Industrial Revolution? 

By the way, has anyone noticed the laptops being used by ESPN now? 

Stargate. Tracked here on the blog. On wiki. Announced January 21, 2025; operational today.

Reuters, two hours ago! Link here. 

Project announced January 21, 2025.

Operational as of today.

Posted five hours ago. This is Oracle and OpenAI.

A credible source suggests ground is being broken at a second site, Houston, TX. I have no idea on the veracity of this statement. 

 From Google Gemini AI overview:

From the linked CNBC article;

ABILENE, Texas — OpenAI and Oracle are betting big on America’s AI future, bringing online the flagship site of the $500 billion Stargate program, a sweeping infrastructure push to secure the compute needed to power the future of artificial intelligence.

The debut site in Abilene, Texas, about 180 miles west of Dallas, is up and running, filled with Oracle Cloud infrastructure and racks of Nvidia chips.

The data center, which is being leased by Oracle, is one of the most notable physical landmarks to emerge from an unprecedented boom in demand for infrastructure to power AI. Over $2 trillion in AI infrastructure has been planned around the world, according to an HSBC estimate this week.

OpenAI is leading the way. OpenAI is not yet public.

In addition to the $500 billion Stargate project, the startup on Monday announced an equity investment deal with Nvidia that will add an estimated $500 billion worth of data centers in the coming years. Since 2019, Microsoft has invested billions of dollars in OpenAI, providing loads of access to Azure credits. Additionally, OpenAI contracts with smaller cloud companies for additional compute capacity and help operating its infrastructure.

One building on the Abilene site is operational while another is nearly complete. The campus has the potential to ultimately scale past a gigawatt of capacity, OpenAI finance chief Sarah Friar told CNBC. That would be enough electricity to power about 750,000 U.S. homes.

The data center construction plans are important enough that Nvidia CEO Jensen Huang personally engaged in last-minute negotiations with OpenAI CEO Sam Altman over the weekend to get in on the action, CNBC reported earlier on Tuesday.

Lilly To Build A String Of Four Pharmaceutical Manufacturing Plants In The US -- 2nd One Announced Today: Houston, TX

Locator: 49198LILLY.

The string of four pharmaceutical plants appear to be in the $5 billion to $6 billion range.

The first, slated for the Richmond, Virginia, area, at $5 billion was announce earlier this month.

Today, Lilly announced the second location: Houston, Texas. I believe Houston, in the past has been ranked as having the "heaviest, most obese population" in the United States by some surveys. The new plant: $5.9 billion.

The US city with the largest number of overweight / obese individuals (2025): link here. 

Texas has six cities on the list, including Houston (#33) and a city in Texas, McAllen, is at the top of the list (#1). Number 2? Little Rock, AR.

California, priding themselves on In-N-Out and encouraging a healthy lifestyle, also have six cities on the list, including two in the sushi belt: San Francisco and San Jose. Having said that, most of the California cities, except for Riverside (#47) are near the bottom of the 100-city list.

It's hard to tell for sure, but it appears that the state with the most cities on the list is North Carolina. The state has ten cities on the list. It includes one of the nation's largest enclave of US Navy (Virginia Beach), as does another US Navy town, San Diego. 

States with no cities on the list: North Dakota, South Dakota, Montana, Wyoming, West Virginia, Vermont, Delaware.

Source: WalletHub

Proposed Data Centers For Texas -- RBN Energy -- September 16, 2025

Locator: 49128LDC.

If you want to learn geography: study an applicable war.

If you want to learn Texas geography: study the large-data-center campaign.

Links: RBN Energy. Other.

CloudHQ's SAT Campus, west of San Antonio: 600 MW spread across five data centers; site control only; no permits. Will connect to ERCOT.

Data City, near Laredo: this is one to watch. Will not connect to ERCOT.

The GigaPop Red Oak, in Red Oak, expected to be completed in 2026, next year. Oncor.

The Grand Prairie, Grand Prairie, another one to watch. To be completed in 2026.

PowerCampus Austin, Austin: developers were ready to begin construction but issues with Oncor and project delayed.

Provident data center, Ellis County: Oncor and plan approved by ERCOT.

The Stargate, Taylor. Huge. Made headlines. OpenAI, Oracle and SoftBank. Multiple data centers across Texas.

Sweetwater 1 and 2, Nolan County: currently under construction.

TRACT Caldwell County Data Center: Bluebonnet Electric Cooperative, operates outside of ERCOT.

Connecting The Dots — Making A Case For TikTok And Oracle —September 15, 2025

Locator: 49107B.

GOOG: hits $3 trillion market cap.

Oracle: It’s all about the personalities. We’ve talked about this before. ORCL up over 4% (nearly 5%) in pre-market trading. Only a few things that could explain this. Okay, only one thing. Think: father-son.

TSLA: now the best-performing stock of the Mag 7 this year. Up 86% in the past year (Yahoo). Just revealed: Elon Musk makes a $1-billion buy of TSLA.

 

AAPL: opens up over $3.00 / share. Opens up $3.89 (1.64%). It's been a good week for Tim. LOL. Market cap: $3.49 trillion.

Goldilocks market?

 

***************************
Back to the Bakken

WTI: $63.23.

 

New wells:

• Tuesday, September 16, 2025: 24 for the month, 117 for the quarter, 557 for the year,
• 40768, conf, Hess, HA-Grimestad-152-95-3031H-10,
• 39740, conf, Grayson Mill, Darlene 13-24F XW 1TFH,
• Monday, September 15, 2025: 22 for the month, 115 for the quarter, 555 for the year,
• None.
• Sunday, September 14, 2025: 22 for the month, 115 for the quarter, 555 for the year,
• 39741, conf, Grayson Mill, Darlene 13-24F 4H,
• Saturday, September 13, 2025: 21 for the month, 114 for the quarter, 554 for the year,
• 41518, conf, MRO, Patton 44-12H, 

RBN Energy: proposed data enters in Texas would be enormous, but how many will be built? Archived.

The data center boom is sweeping across the country and Texas has garnered more proposals for new centers than almost any other state. If every planned project were to go forward, it would mean nearly 9 gigawatts (GW) of additional electricity demand, or just over 1 Bcf/d of natural gas. That’s enough to power the entire country of Switzerland. 

In today’s RBN blog, we’ll check out the biggest planned data centers across the Lone Star State and give a quick rundown on where things stand for each one. 

Texas easily ranks among the nation’s top states for existing data centers, with only Virginia edging it out in both data center count and associated power demand. Texas is also competing for the top spot in brand-new developments, with more than 10 hyperscale campuses announced and dozens more planned — not to mention community-changing projects like Stargate and Data City that are in the works (more on this below).

As we discussed recently in Won’t Get Fooled Again, we’ve been grappling with the challenge of tracking and ranking data center projects in Texas and Louisiana, in part to help us better assess the likely impact of their power and gas demand on Gulf Coast gas markets for our proprietary Arrow Model. In that blog, we explained that we’re using a scoring system that assigns each project a score from 1 to 3 based on public information. It ranks a 1 if the project has an offtaker, a 2 if it also controls the site, and a 3 if construction is underway. Projects missing these criteria don’t make it into our detailed forecasts.

The Arrow Model carves up the region into pipeline “corridors” (aka arrows) that are used to determine changes in the region’s inflows, outflows and flows within each state via groups of pipes that serve similar markets from comparable supply sources. Data centers have been emerging as an important data input in the model because it’s likely their ongoing development will result in significant bump-ups in both power and gas demand in various parts of Texas and Louisiana.

Many of you have asked which proposed data centers are on our list and how we rank them. Here’s a partial answer, namely a list (in no specific order) of the largest data centers proposed in Texas that will need 300 megawatts (MW) of power or more. (Look for a companion blog on Louisiana data centers soon.)

Figure 1. Proposed Texas Data Centers. Source: RBN 

Charts Of The Day -- US Subsidies For Wind- / Solar-Generating Electricity -- September 7, 2025

Locator: 49033RENEWABLES.

Link here.

Autonomous Trucks Already Running In Texas -- Dallas To Houston -- July 31, 2025

Locator: 48726TEXAS.

Link here.

The Road To Texas: Another Huge Story -- Add This Headline Story To Everythig Else Happening In Texas -- The Dallas Mavericks Must Be Watching This Closely -- How Did Dallas Miss This? June 25, 2025

Locator: 48583TEXAS.

NBA: from San Antonio:

The San Antonio Spurs today announced a new jersey patch partnership with Ledger (link here; ask to translate page), the world leader in digital asset security for consumers and enterprises, that brings together innovation, international connection and shared values. The multi-year agreement was announced today and marks a defining moment in the Spurs continued evolution from legacy franchise to formative global brand.

For as long as I've followed the San Antonio Spurs, they've always been an "international" franchise.  

Is this what it was all about? Link here.

Forbes:

• valued Minnesota Timberwolves at $3.1 billion (sold for $1.5 billion)
• valued LA Lakers at $7.1 billion before $10 billion sale announced a week ago
• values San Antonio Spurs at $3.85 billion.

Driverless Truck Company Aurora Launches In Dallas -- May 2, 2025

Locator: 48571EVS.

Link here.

This is simply incredible.

This must drive railroad enthusiasts bonkers -- trains on a track, which could be run 1000% remotely, require two engineers. Why? To be there in case of a derailment. But I digress. Have there ever been any studies comparing derailment rates with five engineers vs two engineers vs zero engineers per train?

Back to driverless trucks. Again, this is a huge story. First company to deploy Class 8 -- the big semis you see everywhere -- self-driving trucks -- and where do they launch? In Texas. In Dallas to be specific. 

Where they could really use this technology? Road trains in Australia. Link here, from nine years ago.

As for the driverless trucks in Dallas, I can't think of a better state in which to launch driverless trucks. 

***************************
I-35

Of all the interstate stretches in the US, the I-35 stretch, from Texas-Mexico border to the Oklahoma state line is the interstate stretch to watch. 

1. I-35: Laredo, TX (Mexico) to Duluth, Minnesota. Doesn't make the top ten list because so much of I-35 is in fly-over country, but in Texas, I-35 is THE interstate. Along with I-10. Which does make the top ten list among US interstates.

2. Texas I-35: 509 miles, in Texas, from Laredo to Oklahoma border.

3. "Texas Silicon Valley" -- I-35 --  Waco to the north, then Austin, then San Antonio. Easily compares with I-10; I-95, I-5.

4. DFW -- I-35 divides into I-35 EAST (Dallas) and I-35 WEST (Ft Worth).  Right now north Dallas is population center in geographic DFW; in 2050, it is projected that northwest Ft Worth will be geographic center -- where there is a yet another airport in the DFW area;  where Wabtex (formerly GE Transportation) manufactures BNSF locomotives; where Texas Motor Speedway is located (and where Sophia plays her weekend soccer game this weekend).

5. I-35 EAST goes straight north from Dallas  -- 75 miles -- to the largest casino in the US (the largest casino in the United States, based on gaming space, is WinStar World Casino and Resort in Thackerville, Oklahoma); also huge water recreation center there where our daughter goes to compete in paddle board competitions.

6. Amazon fulfillment centers in DFW area are incredibly -- size and number and more and more and more electric Amazon Prime vans.

7. Where will they get all the drivers? A lot will come from other states -- especially California.

Solar -- Texas -- Major Installation Hits Milestone -- April 11, 2025

Locator: 48458SOLAR.

Question not being asked: why this location? Yes, once electricity enters the grid it can go anywhere, but generally, it seems, projects provide electricity for local / regional consumption. LDC? ERCOT debacle some years ago? But solar not much good in the middle of winter. Permian expansion? Bottom line: ERCOT is an island. Electricity produced here, stays here. 

Everything's bigger in Texas: Electrek reports on a "vast 600 MW Texas solar farm." Link here. To put that in perspective, a typical nuclear reactor generates around 1,000 MW (1 gigawatt) of electricity. 

• developer: Vesper Energy
• project: Hornet Solar
• milestone: one million panels installed
  
• location: Swisher County, TX (never heard of it before)
• output: 600 MW, enough to power 160,000 typical homes
  
• Vesper's total investment in state of Texas: $45 billion -- that's with a "B"
• Vesper: for solar, currently ranked #2 in the US with 37 GW installed
• again, Vesper's total installed based: 37 GW; Hornet Solar, huge, will add 1.6% to Vesper's total solar output in US
  
• Vesper: for solar, will install 51 additional GW over the next five years
• will move Vesper into #1 when additional projects come on line
  
• tax revenue: will generate > $100 million in new tax revenue to Swisher County
• Swisher County: at the base of the Texas panhandle where the panhandle connects to the rest of Texas; five counties south of Oklahoma; we're talking remote.
• county population: 7,000
• county seat: Tulia, population 5,000
• I can't even imagine what 7,000 folks will do with $100 million annually, although the July, 1999, drug bust could provide some interesting commentary
• footprint: 1.36 modules covering more than six square miles
• a typical North Dakota township is six-mile square, or 36 square miles
• a typical North Dakota section contains 640 acres, and is one-square mile
• Hornet Solar: six "North Dakota" sections of land

Excited: when one steps back and looks at this objectively -- this is simply amazing! Huge project. All this electricity for this one state! One really gets the feeling that the US is on the cusp for a huge energy breakout. Except perhaps for Spain, western Europe has no land for such huge solar projects. Likewise, wind -- Europe doesn't have the space. But then Europe doesn't need more electricity; demand is falling. 

**************************
Masters

After the first round, the cut looks like it will be +1 or less. Perhaps one under will be the cut. 

*********************
Inflation Watch

Are you paying upwards of $6.99 for a Hallmark greeting card at your local supermarket?

Here, north Texas. $2.99 for two classy cards. Too bad first class stamps are up to 75 cents or thereabouts. I've lost track; using forever stamps bought some time ago.

Number Of Active Rigs In North Dakota Jumps To 36 -- March 31, 2025

Locator: 48402B.

Texas, going nuclear. Link here. Dow and X-energy. 

At the link, "X-energy is a private American nuclear reactor and fuel design engineering company. It is developing a Generation IV high-temperature gas-cooled pebble-bed nuclear reactor design. It has received funding from private sources and various government grants and contracts, notably through the Department of Energy's (DOE) Advanced Reactor Concept Cooperative Agreement in 2016 and its Advanced Reactor Demonstration Program (ARDP) in 2020."

Wyoming, nuclear update, link here.

TerraPower is the first advanced reactor company in the U.S. to move from design to construction, breaking ground on its first plant near a former coal site in Kemmerer, Wyoming in the summer of 2024. The company aims to start dispatching power by the end of 2030 to Warren Buffett’s PacifiCorp.

TerraPower’s Natrium reactor operates at atmospheric temperature, a feature that Levesque says will reduce construction costs.

The U.S. currently relies on reactors that operate at about 300 Celsius (572 degrees Fahrenheit) and are cooled by water. The system operates under high pressure — water boils at 100 degree Celsius — to keep the coolant liquid, and the plants need heavy, expensive components to contain the pressure.

TerraPower uses sodium, rather than water, as a coolant. Liquid sodium boils at 900 Celsius, much higher than the Natrium reactor’s operating temperature of around 500 Celsius. That means the plant does not need to be pressurized, Levesque said.

Japan buying shale assets in Texas. Link here. Will acquire Texas shale assets from Chevron. Tokyo Gas is Japan's biggest city gas provider, will be worth tens of billions of yen. Whatever that means?

• 100 billion yen = $667 million. So, $10 billion = $67 million?

Investing in the US, 2024, source:

• EU holdings of US equities (stocks): $5.3 trillion;
• US holdings of EU equities (stocks): $3.4 trillion.
• I wonder if that "balances" out the balance of trade differential?

******************************
Back to the Bakken

WTI: $71.48.

Active rigs: 36. Significant jump from the 30 wells we generally saw during the winter.

Four new permits, #41755 - #41758, inclusive:

• Operator: KODA Resources
• Field: Fertile Valley (Divide County)
• Comments:
• KODA Resources has permits for three Stout wells, SESW 13-160-102, 
• to be sited 660 FSL and 2581 / 2645 FWL; a fourth Stout well, SWSE 13-160-102, will be sited 460 FSL and 2531 FEL.  

One permit renewed:

• 36271, Hess, AN-Double Bar V-152-95-0106H-5, NENE 11-152-95, Antelope oil field, McKenzie County.

Suni Returns Safely -- What An Incredible Story -- March 18, 2025

Locator: 48525B.

March Madness: two "play-in" games tonight. If you like commercials, tune in! This is when multiple screens are a must!

Texas re-location: NASDAQ-lite and Chicago's NYSE branch -- Dallas --

• both to move a portion of their operations to the Dallas, Texas, area
• NYSE Chicago is expected to be reincorporated as NYSE Texas; electronic trading "24/7"?

Again, SpaceX was responsible for both lift-off/launch and return to earth/recovery. That would be Musk's company. My hunch: quite a celebration inside the Oval Office.

• for more on SpaceX Dragon 2, link here.

Crew Dragon's primary role is to transport crews to and from the ISS under NASA's Commercial Crew Program, a task handled by the Space Shuttle until it was retired in 2011.

It will be joined by Boeing's Starliner in this role when NASA certifies it. [Fourteen years and still not certified?]

Crew Dragon is also used for commercial flights to ISS and other destinations, and is expected to be used to transport people to and from Axiom Space's planned space station.

Quick!

• name the CEO of Boeing!
• name the Director of NASA!
• name the CEO of SpaceX!

Posted on x:

• 57 days: Trump
• 26 days: Kash Patel -- extradites one of FBI's "Ten Most Wanted." Did that make the NBC Nightly News tonight? I don't think so. If so, I missed it. By the way, in a presser (either today, or yesterday) President Trump refused to take a question from an NBC reporter  -- saying the network is "so discredited."
  

Incredibly bad timing: link here. What is it with our political leaders?

*********************************
Back to the Bakken

WTI: $66.90.

Active rigs: 30.

Four new permits: #41711 - #31714, inclusive:

• Operator: Hess
• Field: Truax (Williams)
• Comments:
• Hess has permits for four SC-Scanlan wells, NWNE 17-153-98, 
• to be sited 786 / 828 FNL and 1852 / 1942 FEL.

Two producing wells (DUCs) reported as completed, on the seven-well Vandeberg/Christopherson pad; the pad is northeast of Williston, about ten miles east of the "13-mile corner" and two miles south of US Highway 2, just a couple miles northwest of Epping! The father of my dad's first boss and that boss's sister homesteaded in this area. Great memories.

• 40636, 2,354, CLR, Vandeberg 4-35H, East Fork, t--; cum --;
• 40637, 1,773, CLR, Vandeberg 5-35H, East Fork, t--; cum --;

Nvidia 4Q24 Earnings

Locator: 48444NVDA.

Tag: Nvidia NVDA LDC large data centers Texas

Link here.

Data center power demand, Texas, link here:

KFC Becomes TFC -- KFC Moves Headquarters To Plano (Dallas) Texas -- February 18, 2025

Locator: 48581KFC.

Plano, TX. 

Just up the road from us. 

Link here.

Most Fortune 500 companies in US headquartered in Plano. Or something to that effect. I don't know the specifics, but Plano, just north of Dallas has a boatload of Fortune 500 companies headquartered there.

Texas relocations are tracked here. Also here.

ISO-NE: Resource Mix -- Oil At 6% Vs Canadian Hydro At 3% -- February 18, 2025

Locator: 48580ISONE.

Energy:

• Texas has a "demand" problem.
• New England as a "supply" problem.

Despite wind providing as much energy as ever for New England, ISO-NE is still relying on oil at highest levels I've seen in some time. An astounding 6% of the resource mix is attributable to oil. Assuming "hydro" is not a limiting factor, my hunch is oil is very, very cheap compared to what Canada is charging New England for their "clean" energy.  Oil, at 6%, represents twice the resource mix compared to clean energy, "hydro" at 3%. Wow. They can't complete that Constitution pipeline fast enough!

Link here.

Unleashing American Energy -- American Energy Dominance -- Trump -- US Crude Oil Exports -- February 15, 2025

Locator: 48565OIL.

Tag: Sentinel Midstream crude oil export SPOT EPD Enterprise Products

A reminder before we get to Sentinel Midstream, with regard to SPOT:

Today:  

RBN Energy's top ten prognostications for 2025, link here: 

6. No offshore SPM crude oil terminal will be sanctioned in 2025. 

We really hope to be proved wrong on this one, but it just looks like this is a case where the benefits do not justify the cost. Since 2018, numerous offshore single-point mooring (SPM) terminals have been proposed along the Gulf Coast to fully load a Very Large Crude Carrier (VLCC) without reverse lightering.

Currently, only the Louisiana Offshore Oil Port (LOOP) can handle VLCCs but it is limited to two ships per month on average, far below the one per day a couple of the SPMs could manage.

The remaining projects — Energy Transfer’s Blue Marlin, Sentinel Midstream’s Texas GulfLink, Phillips 66’s Bluewater Texas, and Enterprise’s Sea Port Oil Terminal (SPOT) — have faced regulatory hurdles but made progress, with SPOT receiving its U.S. Maritime Administration (MARAD) license in April.

Yet none have reached a final investment decision (FID) after nearly seven years of development. The problem is shifting market dynamics. Initially, U.S. crude exports to Asia (15,000 nautical miles from the Gulf Coast) justified VLCC efficiencies, but Europe now takes 45% of exports compared to 40% to Asia, driven by demand shifts due to the Ukraine war and declining North Sea production. The shorter 5,000-nautical-mile trip to Europe diminishes the economic advantage of VLCCs, making shippers hesitant to commit to long-term capacity deals for the SPM terminals. Granted there are still good reasons for one or more of the SPMs to be sanctioned. But it is more difficult today to get shippers signed up than it originally looked, and that’s a situation that will likely get worse before it gets better.

Also from April 25, 2024, also on the blog:

RBN Energy: Sentinel Midstream's Texas GulfLink emerges as serious contender in export terminal race. Archived.

In the race to build the next deepwater crude oil export terminal in the Gulf of Mexico, Sentinel Midstream’s proposed Texas GulfLink (TGL) is currently in second place in the regulatory race, behind only Enterprise’s Sea Port Oil Terminal (SPOT) — and seems to be emerging as a serious contender. The plan offers some compelling attributes, including Sentinel’s status as an independent midstream player and plenty of pipeline access to crude oil volumes in the Permian and elsewhere. In today’s RBN blog, we turn our attention to TGL and what it brings to the table.

 From today:

*********************
Recipes

Cooking rice. Grains.