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Execution, Power, and Public Trust: Rich Miller on 2026’s Data Center Reality and Why He Built Data Center Richness

DCF founder Rich Miller has spent much of his career explaining how the data center industry works. Now, with his latest venture, Data Center Richness, he’s also examining how the industry learns. That thread provided the opening for the latest episode of The DCF Show Podcast, where Miller joined present Data Center Frontier Editor in Chief Matt Vincent and Senior Editor David Chernicoff for a wide-ranging discussion that ultimately landed on a simple conclusion: after two years of unprecedented AI-driven announcements, 2026 will be the year reality asserts itself. Projects will either get built, or they won’t. Power will either materialize, or it won’t. Communities will either accept data center expansion – or they’ll stop it. In other words, the industry is entering its execution phase. Why Data Center Richness Matters Now Miller launched Data Center Richness as both a podcast and a Substack publication, an effort to experiment with formats and better understand how professionals now consume industry information. Podcasts have become a primary way many practitioners follow the business, while YouTube’s discovery advantages increasingly make video versions essential. At the same time, Miller remains committed to written analysis, using Substack as a venue for deeper dives and format experimentation. One example is his weekly newsletter distilling key industry developments into just a handful of essential links rather than overwhelming readers with volume. The approach reflects a broader recognition: the pace of change has accelerated so much that clarity matters more than quantity. The topic of how people learn about data centers isn’t separate from the industry’s trajectory; it’s becoming part of it. Public perception, regulatory scrutiny, and investor expectations are now shaped by how stories are told as much as by how facilities are built. That context sets the stage for the conversation’s core theme. Execution Defines 2026 After

Read More »

Vertiv’s AI Infrastructure Surge: Record Orders, Liquid Cooling Expansion, and Grid-Scale Power Reflect Data Center Growth

2) “Units of compute”: OneCore and SmartRun On the earnings call, Albertazzi highlighted Vertiv OneCore, an end-to-end data center solution designed to accelerate “time to token,” scaling in 12.5 MW building blocks; and Vertiv SmartRun, a prefabricated white space infrastructure solution aimed at rapidly accelerating fit-out and readiness. He pointed to collaborations (including Hut 8 and Compass Data Centers) as proof points of adoption, emphasizing that SmartRun can stand alone or plug into OneCore. 3) Cooling evolution: hybrid thermal chains and the “trim cooler” Asked how cooling architectures may change (amid industry chatter about warmer-temperature operations and shifting mixes of chillers, CDUs, and other components) Albertazzi leaned into complexity as a feature, not a bug. He argued heat rejection doesn’t disappear, even if some GPU loads can run at higher temperatures. Instead, the future looks hybrid, with mixed loads and resiliency requirements forcing more nuanced thermal chains. Vertiv’s strategic product anchor here is its “trim cooler” concept: a chiller optimized for higher-temperature operation while retaining flexibility for lower-temperature requirements in the same facility, maximizing free cooling where climate and design allow. And importantly, Albertazzi dismissed the idea that CDUs are going away: “We are pretty sure that CDUs in various shapes and forms are a long-term element of the thermal chain.” 4) Edge densification: CoolPhase Ceiling + CoolPhase Row (Feb. 3) Vertiv also expanded its thermal portfolio for edge and small IT environments with the: Vertiv CoolPhase Ceiling (launching Q2 2026): ceiling-mounted, 3.5 kW to 28 kW, designed to preserve floor space. Vertiv CoolPhase Row (available now in North America) for row-based cooling up to 30 kW (300 mm width) or 40 kW (600 mm width). Vertiv Director of Edge Thermal Michal Podmaka tied the products directly to AI-driven edge densification and management consistency, saying the new systems “integrate seamlessly

Read More »

Chevron, HELLENiQ Energy secure Mediterranean blocks offshore Greece

Chevron Corp., via its four Dutch subsidiaries, together with HELLENiQ Energy, signed lease agreements with the Hellenic Republic which will enable exploration of four blocks offshore Greece. The consortium, led by Chevron with a 70% operating interest, was awarded the blocks following an international call for tender launched by the Greek government in 2025, Chevron said in a release Feb. 16. The four blocks—South Crete 1, South Crete 2, South of Peloponnese, and Block A2—cover a total area of about 47,000 sq km.  Under the terms of the agreements, the consortium will undertake a three-phase exploration program to assess hydrocarbon potential, starting with 2D and 3D seismic exploration work in phase one.  The target areas lie in ultra-deepwater, some in more than 1,500 m of water, with complex geological structures, HELLENiQ said in a separate release. The agreements are subject to ratification by the Greek Parliament. Chevron Mediterranean The awards add to Chevron’s position in the Mediterranean region, an in which the company is actively pursuing exploration opportunities, said Kevin McLachlan, vice-president of exploration at Chevron. Chevron’s assets in the area include two gas producing fields (offshore Israel), and Aphrodite gas field, which is currently in development (offshore Cyprus). In Egypt, Chevron is operator of two exploration blocks and is in a non-operated joint venture in the Mediterranean Sea. Last week, Chevron was named the winning bidder for onshore block S4 in Libya following signing of a Memorandum of Understanding (MoU) in the country to evaluate development and exploration potential onshore, while also in February, Chevron was awarded MoUs with Turkey and Syria to evaluate opportunities. Chevron’s Dutch subsidiaries are Chevron Greece Holdings (A2) BV, Chevron Greece Holdings (S Peloponnese) BV, Chevron Greece Holdings (S Crete 1) BV, and Chevron Greece Holdings (S Crete 2) BV.

Read More »

Caturus Energy advances LNG business through $950-million asset deal with SM Energy

Caturus Energy LLC plans to expand its LNG business through a $950‑million agreement to acquire South Texas assets from SM Energy Co. The transaction—for SM Energy’s Galvan Ranch assets—includes about 61,000 net acres, roughly 250 MMcfed of production as of December 2025 from 260 wells in the southern Maverick basin in Webb County, Tex., and related infrastructure. SM Energy expects the assets to produce 37,000–39,000 boe/d this year (45% liquids, 9% oil). Net proved reserves totaled about 168 MMboe as of Dec. 31, 2025. “Galvan Ranch significantly expands our footprint in the Eagle Ford and Austin Chalk and comes with existing infrastructure that supports long‑term, capital‑efficient development,” said David Lawler, chief executive officer of Caturus. He added that the largely contiguous Webb County Core position provides “more than a decade of high‑quality drilling inventory across both the wet and dry gas windows, with additional upside beyond that horizon.” Wellhead-to-water Caturus is pursuing a wellhead‑to‑water model supported by its proximity to the Gulf Coast. The company aims to establish the only independent, fully integrated natural gas and LNG export platform in the US through Caturus Energy’s upstream operations and its 9.5-million tonnes/year (tpy) Commonwealth LNG project in Cameron, La. The company is moving toward a final investment decision on the plant and has secured 7 million tpy of long-term offtake agreements. Following the acquisition, Caturus would have proforma net production of about 950 MMcfed across 275,000 net acres along the Gulf Coast. This deal follows a 2025 development agreement with Black Stone Minerals covering 220,000 gross acres in the Shelby Trough for a multi‑year drilling program. Caturus said the Galvan Ranch acquisition and its Haynesville entry position the company “to deliver low‑nitrogen natural gas to key LNG hubs at Gillis and Agua Dulce.” The transaction is expected to close in second‑quarter

Read More »

Equinor discovers oil, gas at Granat prospect in North Sea

Equinor Energy AS and its partners have discovered oil and gas in the Granat prospect in the North Sea near Gullfaks, 190 km northwest of Bergen, the Norwegian Offshore Directorate reported Feb. 16.   Preliminary estimates place the discovery at 0.2-0.6 million std cu m of recoverable oil equivalent (1.3-3.8 million bbl). The licensees are considering tying the discovery back to existing infrastructure in the Gullfaks area. Wildcat wells 33/12-N-3 HH and 33/12-N-3 GH were drilled in connection with drilling an oil development well on the Gullfaks Satellites (33/12-N-3 IH) in production license 152 (PL 152). The discovery was made in 33/12-N-3 HH in production license 277. This is the first exploration well in the license. Well 33/12-N-3 GH, which had drilling targets in PL 152, was dry. The wells were drilled from production licence 050 using the Askeladden rig. Geological information The objective of wellbore 33/12-3GH (N2A) was to prove hydrocarbons in reservoir rocks in the Tarbert Formation, with secondary targets in the Ness and Etive formations, all in the Brent Group from the Middle Jurassic. The well encountered the Tarbert Formation in a total of 115 m with 48 m of sandstone layers with moderate to good reservoir properties and a total of 59 m in the Ness formation with 10 m of sandstone layers with good reservoir properties. Both formations were aquiferous. Data was collected, including pressure data. Wellbore 33/12-3-GH was drilled to respective measured and vertical depths of 6,708 and 3,460 m and was terminated in the Ness formation. The objective of wellbore 33/12-N-3 HH was to prove hydrocarbons in reservoir rocks in the Tarbert formation, with secondary targets in the Ness and Etive formations, all in the Brent Group from the Middle Jurassic. Wellbore 33/12-N-3 HHT2 encountered a total of 153 m in the Tarbert formation with 58 m of sandstone layers with moderate

Read More »

Verde Clean Fuels shifts strategy away from large-scale plant development

Verde Clean Fuels, Houston, aims to reduce its operating costs by 50% this year as part of a larger ‘capital‑lite’ strategy aimed at identifying the most effective and financially disciplined path to commercialize its liquid fuels processing technology. The move comes weeks after the company suspended development of a natural gas-to-gasoline (GTG) project in the Permian basin. At the time, the company cited “changing market conditions driven by increasing demand for natural gas,” in the region, while Verde’s chief executive officer, Ernest Miller, said knowledge collected from the work completed would be useful as the company explored other opportunities to deploy its proprietary synthesis gas (syngas)-to-gasoline plus (STG+) liquid fuels technology. At the forefront is a move away from capital‑intensive plant development. Over $110 million has been invested in development and demonstrating the STG+ technology since 2007, including the construction and operation of the demonstration plant that completed over 10,500 hours of operation. Strategy shift The company now plans to eliminate roles tied to large‑scale plant development and shift its business model toward technology licensing and providing engineering, technical, and operational services. “We own a proprietary advanced-fuel conversion technology platform designed to convert low-value or stranded feedstocks into higher-value clean transportation fuels through an integrated, scalable, process-driven system. We are focused on the most optimal path to deploy our STG+® technology while being extremely disciplined with our resources. We are evaluating strategic alternatives that may be available to maximize shareholder value,” said Ron Hulme, Verde’s chairman of board of directors.  The company is also streamlining its board of directors, cutting director cash compensation by 80%, with two directors not standing for reelection. A newly formed Restructuring Committee, with Verde director Jonathan Siegler—who serves as managing director and chief financial officer of Bluescape Energy Partners, an affiliate of Verde’s primary shareholder—appointed

Read More »

Execution, Power, and Public Trust: Rich Miller on 2026’s Data Center Reality and Why He Built Data Center Richness

DCF founder Rich Miller has spent much of his career explaining how the data center industry works. Now, with his latest venture, Data Center Richness, he’s also examining how the industry learns. That thread provided the opening for the latest episode of The DCF Show Podcast, where Miller joined present Data Center Frontier Editor in Chief Matt Vincent and Senior Editor David Chernicoff for a wide-ranging discussion that ultimately landed on a simple conclusion: after two years of unprecedented AI-driven announcements, 2026 will be the year reality asserts itself. Projects will either get built, or they won’t. Power will either materialize, or it won’t. Communities will either accept data center expansion – or they’ll stop it. In other words, the industry is entering its execution phase. Why Data Center Richness Matters Now Miller launched Data Center Richness as both a podcast and a Substack publication, an effort to experiment with formats and better understand how professionals now consume industry information. Podcasts have become a primary way many practitioners follow the business, while YouTube’s discovery advantages increasingly make video versions essential. At the same time, Miller remains committed to written analysis, using Substack as a venue for deeper dives and format experimentation. One example is his weekly newsletter distilling key industry developments into just a handful of essential links rather than overwhelming readers with volume. The approach reflects a broader recognition: the pace of change has accelerated so much that clarity matters more than quantity. The topic of how people learn about data centers isn’t separate from the industry’s trajectory; it’s becoming part of it. Public perception, regulatory scrutiny, and investor expectations are now shaped by how stories are told as much as by how facilities are built. That context sets the stage for the conversation’s core theme. Execution Defines 2026 After

Read More »

Vertiv’s AI Infrastructure Surge: Record Orders, Liquid Cooling Expansion, and Grid-Scale Power Reflect Data Center Growth

2) “Units of compute”: OneCore and SmartRun On the earnings call, Albertazzi highlighted Vertiv OneCore, an end-to-end data center solution designed to accelerate “time to token,” scaling in 12.5 MW building blocks; and Vertiv SmartRun, a prefabricated white space infrastructure solution aimed at rapidly accelerating fit-out and readiness. He pointed to collaborations (including Hut 8 and Compass Data Centers) as proof points of adoption, emphasizing that SmartRun can stand alone or plug into OneCore. 3) Cooling evolution: hybrid thermal chains and the “trim cooler” Asked how cooling architectures may change (amid industry chatter about warmer-temperature operations and shifting mixes of chillers, CDUs, and other components) Albertazzi leaned into complexity as a feature, not a bug. He argued heat rejection doesn’t disappear, even if some GPU loads can run at higher temperatures. Instead, the future looks hybrid, with mixed loads and resiliency requirements forcing more nuanced thermal chains. Vertiv’s strategic product anchor here is its “trim cooler” concept: a chiller optimized for higher-temperature operation while retaining flexibility for lower-temperature requirements in the same facility, maximizing free cooling where climate and design allow. And importantly, Albertazzi dismissed the idea that CDUs are going away: “We are pretty sure that CDUs in various shapes and forms are a long-term element of the thermal chain.” 4) Edge densification: CoolPhase Ceiling + CoolPhase Row (Feb. 3) Vertiv also expanded its thermal portfolio for edge and small IT environments with the: Vertiv CoolPhase Ceiling (launching Q2 2026): ceiling-mounted, 3.5 kW to 28 kW, designed to preserve floor space. Vertiv CoolPhase Row (available now in North America) for row-based cooling up to 30 kW (300 mm width) or 40 kW (600 mm width). Vertiv Director of Edge Thermal Michal Podmaka tied the products directly to AI-driven edge densification and management consistency, saying the new systems “integrate seamlessly

Read More »

Chevron, HELLENiQ Energy secure Mediterranean blocks offshore Greece

Chevron Corp., via its four Dutch subsidiaries, together with HELLENiQ Energy, signed lease agreements with the Hellenic Republic which will enable exploration of four blocks offshore Greece. The consortium, led by Chevron with a 70% operating interest, was awarded the blocks following an international call for tender launched by the Greek government in 2025, Chevron said in a release Feb. 16. The four blocks—South Crete 1, South Crete 2, South of Peloponnese, and Block A2—cover a total area of about 47,000 sq km.  Under the terms of the agreements, the consortium will undertake a three-phase exploration program to assess hydrocarbon potential, starting with 2D and 3D seismic exploration work in phase one.  The target areas lie in ultra-deepwater, some in more than 1,500 m of water, with complex geological structures, HELLENiQ said in a separate release. The agreements are subject to ratification by the Greek Parliament. Chevron Mediterranean The awards add to Chevron’s position in the Mediterranean region, an in which the company is actively pursuing exploration opportunities, said Kevin McLachlan, vice-president of exploration at Chevron. Chevron’s assets in the area include two gas producing fields (offshore Israel), and Aphrodite gas field, which is currently in development (offshore Cyprus). In Egypt, Chevron is operator of two exploration blocks and is in a non-operated joint venture in the Mediterranean Sea. Last week, Chevron was named the winning bidder for onshore block S4 in Libya following signing of a Memorandum of Understanding (MoU) in the country to evaluate development and exploration potential onshore, while also in February, Chevron was awarded MoUs with Turkey and Syria to evaluate opportunities. Chevron’s Dutch subsidiaries are Chevron Greece Holdings (A2) BV, Chevron Greece Holdings (S Peloponnese) BV, Chevron Greece Holdings (S Crete 1) BV, and Chevron Greece Holdings (S Crete 2) BV.

Read More »

Caturus Energy advances LNG business through $950-million asset deal with SM Energy

Caturus Energy LLC plans to expand its LNG business through a $950‑million agreement to acquire South Texas assets from SM Energy Co. The transaction—for SM Energy’s Galvan Ranch assets—includes about 61,000 net acres, roughly 250 MMcfed of production as of December 2025 from 260 wells in the southern Maverick basin in Webb County, Tex., and related infrastructure. SM Energy expects the assets to produce 37,000–39,000 boe/d this year (45% liquids, 9% oil). Net proved reserves totaled about 168 MMboe as of Dec. 31, 2025. “Galvan Ranch significantly expands our footprint in the Eagle Ford and Austin Chalk and comes with existing infrastructure that supports long‑term, capital‑efficient development,” said David Lawler, chief executive officer of Caturus. He added that the largely contiguous Webb County Core position provides “more than a decade of high‑quality drilling inventory across both the wet and dry gas windows, with additional upside beyond that horizon.” Wellhead-to-water Caturus is pursuing a wellhead‑to‑water model supported by its proximity to the Gulf Coast. The company aims to establish the only independent, fully integrated natural gas and LNG export platform in the US through Caturus Energy’s upstream operations and its 9.5-million tonnes/year (tpy) Commonwealth LNG project in Cameron, La. The company is moving toward a final investment decision on the plant and has secured 7 million tpy of long-term offtake agreements. Following the acquisition, Caturus would have proforma net production of about 950 MMcfed across 275,000 net acres along the Gulf Coast. This deal follows a 2025 development agreement with Black Stone Minerals covering 220,000 gross acres in the Shelby Trough for a multi‑year drilling program. Caturus said the Galvan Ranch acquisition and its Haynesville entry position the company “to deliver low‑nitrogen natural gas to key LNG hubs at Gillis and Agua Dulce.” The transaction is expected to close in second‑quarter

Read More »

Equinor discovers oil, gas at Granat prospect in North Sea

Equinor Energy AS and its partners have discovered oil and gas in the Granat prospect in the North Sea near Gullfaks, 190 km northwest of Bergen, the Norwegian Offshore Directorate reported Feb. 16.   Preliminary estimates place the discovery at 0.2-0.6 million std cu m of recoverable oil equivalent (1.3-3.8 million bbl). The licensees are considering tying the discovery back to existing infrastructure in the Gullfaks area. Wildcat wells 33/12-N-3 HH and 33/12-N-3 GH were drilled in connection with drilling an oil development well on the Gullfaks Satellites (33/12-N-3 IH) in production license 152 (PL 152). The discovery was made in 33/12-N-3 HH in production license 277. This is the first exploration well in the license. Well 33/12-N-3 GH, which had drilling targets in PL 152, was dry. The wells were drilled from production licence 050 using the Askeladden rig. Geological information The objective of wellbore 33/12-3GH (N2A) was to prove hydrocarbons in reservoir rocks in the Tarbert Formation, with secondary targets in the Ness and Etive formations, all in the Brent Group from the Middle Jurassic. The well encountered the Tarbert Formation in a total of 115 m with 48 m of sandstone layers with moderate to good reservoir properties and a total of 59 m in the Ness formation with 10 m of sandstone layers with good reservoir properties. Both formations were aquiferous. Data was collected, including pressure data. Wellbore 33/12-3-GH was drilled to respective measured and vertical depths of 6,708 and 3,460 m and was terminated in the Ness formation. The objective of wellbore 33/12-N-3 HH was to prove hydrocarbons in reservoir rocks in the Tarbert formation, with secondary targets in the Ness and Etive formations, all in the Brent Group from the Middle Jurassic. Wellbore 33/12-N-3 HHT2 encountered a total of 153 m in the Tarbert formation with 58 m of sandstone layers with moderate

Read More »

Verde Clean Fuels shifts strategy away from large-scale plant development

Verde Clean Fuels, Houston, aims to reduce its operating costs by 50% this year as part of a larger ‘capital‑lite’ strategy aimed at identifying the most effective and financially disciplined path to commercialize its liquid fuels processing technology. The move comes weeks after the company suspended development of a natural gas-to-gasoline (GTG) project in the Permian basin. At the time, the company cited “changing market conditions driven by increasing demand for natural gas,” in the region, while Verde’s chief executive officer, Ernest Miller, said knowledge collected from the work completed would be useful as the company explored other opportunities to deploy its proprietary synthesis gas (syngas)-to-gasoline plus (STG+) liquid fuels technology. At the forefront is a move away from capital‑intensive plant development. Over $110 million has been invested in development and demonstrating the STG+ technology since 2007, including the construction and operation of the demonstration plant that completed over 10,500 hours of operation. Strategy shift The company now plans to eliminate roles tied to large‑scale plant development and shift its business model toward technology licensing and providing engineering, technical, and operational services. “We own a proprietary advanced-fuel conversion technology platform designed to convert low-value or stranded feedstocks into higher-value clean transportation fuels through an integrated, scalable, process-driven system. We are focused on the most optimal path to deploy our STG+® technology while being extremely disciplined with our resources. We are evaluating strategic alternatives that may be available to maximize shareholder value,” said Ron Hulme, Verde’s chairman of board of directors.  The company is also streamlining its board of directors, cutting director cash compensation by 80%, with two directors not standing for reelection. A newly formed Restructuring Committee, with Verde director Jonathan Siegler—who serves as managing director and chief financial officer of Bluescape Energy Partners, an affiliate of Verde’s primary shareholder—appointed

Read More »

Gran Tierra signs Azerbaijan exploration agreement, moves to exit Simonette

Gran Tierra Energy Inc. signed an exploration, development, and production sharing agreement with the State Oil Company of the Republic of Azerbaijan (SOCAR) on a prospective onshore field in Azerbaijan, while also moving to exit its Simonette asset through a signed sale agreement. Under the terms of the SOCAR agreement, Gran Tierra Energy will act as the operator of the in the Guba-Caspian region project with a 65% stake. The contract area surrounds a 65-km-long structure that has produced more than 100 million bbl of oil and more than 200 bcf of natural gas, “underscoring the scale and quality of the petroleum system in Azerbaijan,” Gran Tierra said in a release Feb. 19. The EDPSA includes a 5-year exploration and appraisal phase, and 25 years for development of any economic discoveries, with potential to extend development an additional 5 years. The exploration period consists of an initial 3-year phase followed by a second 2-year phase. The initial phase includes acquisition of a gravity study, together with a commitment to drill two wells and acquire 250 sq km of 3D seismic. Upon completion of the initial phase, the company has the option to proceed into the second phase, which carries a further commitment to drill two wells and acquire an additional 250 sq km of 3D seismic. Gran Tierra expects begin an airborne gravity study this year, with seismic acquisition and drilling activities planned to begin in 2027. The EDPSA remains subject to certain customary and legal conditions, including approval by the legislature of the Republic of Azerbaijan and other legal formalities and procedures. Simonette exit The same day, the company noted an agreement with an undisclosed buyer to sell its remaining working interest in the Simonette asset in Alberta for total cash consideration of $62.5 million (Can.). The company in

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SCOTUS limits presidential tariff authority, injecting new oil and gas industry uncertainty

The US Supreme Court ruled that President Donald Trump lacks authority to impose broad tariffs on US trading partners, deciding 6–3 that such powers rest with Congress. Justices Sonia Sotomayor, Elena Kagan, Neil Gorsuch, Amy Coney Barrett, Ketanji Brown Jackson, and Chief Justice John Roberts formed the majority. Justices Samuel Alito, Clarence Thomas, and Brett Kavanaugh dissented. The decision voids most tariffs imposed over the past year under the International Emergency Economic Powers Act (IEEPA), including reciprocal tariffs used as leverage in trade talks. Steel and aluminum import fees enacted during Pres. Trump’s first term and continued by former Pres. Joe Biden, remain in place under separate statutory authority. At a Friday morning White House event with governors, Pres. Trump called the ruling “a disgrace,” according to a CNN report that also noted sources citing the president’s reference to a “backup plan.” In a press conference following the ruling, Pres. Trump said SCOTUS “incorrectly rejected” the authority, but that the administration will now go “in a different direction…that is even stronger.”   Trade policy mechanisms Ken Medlock, III, PhD, Senior Director of the Center for Energy Studies at Rice University, said the ruling “will force the administration to seek other means to impose tariffs or regulate trade through other means to accomplish its various goals. It does not necessarily reset trade policy, just the mechanisms that can be used to implement it.” In an email to OGJ he said he expects “additional uncertainty in the near term,” which he characterized as disruptive for investment and planning by commercial actors. Medlock noted that “some tariffs will likely remain if they were sector‑specific because they were not motivated by IEEPA,” adding that “there are other sections of different Trade Acts that the president has used previously that could come into play to re‑implement

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EIA: US natural gas production to hit record highs in 2026-27

US natural gas marketed production is expected to rise 2% to average 120.8 bcfd in 2026, then increase further to a record 122.3 bcfd in 2027, according to the US Energy Information Administration (EIA)’s latest Short-Term Energy Outlook (STEO). About 69% of total forecast output over the next 2 years will come from the Appalachia, Haynesville, and Permian regions. Haynesville output is forecast to increase by 1.2 bcfd in 2026 and by 1.6 bcfd in 2027, supported by relatively strong natural gas prices through the outlook period. EIA expects Henry Hub prices to rise from $3.52/MMbtu in 2025 to $4.31/MMbtu in 2026 and $4.38/MMbtu in 2027, keeping Haynesville drilling economics attractive despite deeper, higher-cost well development. The region’s proximity to LNG export terminals and major industrial consumers along the US Gulf Coast also continues to support activity. The Permian basin is projected to add 1.4 bcfd of production growth in 2026 and 0.6 bcfd in 2027. Output gains are largely driven by associated gas production from oil drilling. EIA estimates oil-directed rig activity will remain relatively subdued as West Texas Intermediate (WTI) crude prices decline from $65/bbl in 2025 to an average $53/bbl in 2026 and $49/bbl in 2027. Even so, rising gas-to-oil ratios (GOR) are expected to support continued natural gas production growth in the basin. Appalachia has supplied the largest share of Lower 48 natural gas production in recent years, accounting for about 32% annually since 2016. However, growth has slowed due to pipeline constraints. In June 2024, the Federal Energy Regulatory Commission (FERC) authorized the Mountain Valley Pipeline to begin operations, adding new takeaway capacity. As a result, EIA estimates Appalachian production will increase modestly by 0.3 bcfd in 2026 and by 0.5 bcfd in 2027.

Read More »

Verde Clean Fuels shifts strategy away from large-scale plant development

Verde Clean Fuels, Houston, aims to reduce its operating costs by 50% this year as part of a larger ‘capital‑lite’ strategy aimed at identifying the most effective and financially disciplined path to commercialize its liquid fuels processing technology. The move comes weeks after the company suspended development of a natural gas-to-gasoline (GTG) project in the Permian basin. At the time, the company cited “changing market conditions driven by increasing demand for natural gas,” in the region, while Verde’s chief executive officer, Ernest Miller, said knowledge collected from the work completed would be useful as the company explored other opportunities to deploy its proprietary synthesis gas (syngas)-to-gasoline plus (STG+) liquid fuels technology. At the forefront is a move away from capital‑intensive plant development. Over $110 million has been invested in development and demonstrating the STG+ technology since 2007, including the construction and operation of the demonstration plant that completed over 10,500 hours of operation. Strategy shift The company now plans to eliminate roles tied to large‑scale plant development and shift its business model toward technology licensing and providing engineering, technical, and operational services. “We own a proprietary advanced-fuel conversion technology platform designed to convert low-value or stranded feedstocks into higher-value clean transportation fuels through an integrated, scalable, process-driven system. We are focused on the most optimal path to deploy our STG+® technology while being extremely disciplined with our resources. We are evaluating strategic alternatives that may be available to maximize shareholder value,” said Ron Hulme, Verde’s chairman of board of directors.  The company is also streamlining its board of directors, cutting director cash compensation by 80%, with two directors not standing for reelection. A newly formed Restructuring Committee, with Verde director Jonathan Siegler—who serves as managing director and chief financial officer of Bluescape Energy Partners, an affiliate of Verde’s primary shareholder—appointed

Read More »

Equinor discovers oil, gas at Granat prospect in North Sea

Equinor Energy AS and its partners have discovered oil and gas in the Granat prospect in the North Sea near Gullfaks, 190 km northwest of Bergen, the Norwegian Offshore Directorate reported Feb. 16.   Preliminary estimates place the discovery at 0.2-0.6 million std cu m of recoverable oil equivalent (1.3-3.8 million bbl). The licensees are considering tying the discovery back to existing infrastructure in the Gullfaks area. Wildcat wells 33/12-N-3 HH and 33/12-N-3 GH were drilled in connection with drilling an oil development well on the Gullfaks Satellites (33/12-N-3 IH) in production license 152 (PL 152). The discovery was made in 33/12-N-3 HH in production license 277. This is the first exploration well in the license. Well 33/12-N-3 GH, which had drilling targets in PL 152, was dry. The wells were drilled from production licence 050 using the Askeladden rig. Geological information The objective of wellbore 33/12-3GH (N2A) was to prove hydrocarbons in reservoir rocks in the Tarbert Formation, with secondary targets in the Ness and Etive formations, all in the Brent Group from the Middle Jurassic. The well encountered the Tarbert Formation in a total of 115 m with 48 m of sandstone layers with moderate to good reservoir properties and a total of 59 m in the Ness formation with 10 m of sandstone layers with good reservoir properties. Both formations were aquiferous. Data was collected, including pressure data. Wellbore 33/12-3-GH was drilled to respective measured and vertical depths of 6,708 and 3,460 m and was terminated in the Ness formation. The objective of wellbore 33/12-N-3 HH was to prove hydrocarbons in reservoir rocks in the Tarbert formation, with secondary targets in the Ness and Etive formations, all in the Brent Group from the Middle Jurassic. Wellbore 33/12-N-3 HHT2 encountered a total of 153 m in the Tarbert formation with 58 m of sandstone layers with moderate

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Caturus Energy advances LNG business through $950-million asset deal with SM Energy

Caturus Energy LLC plans to expand its LNG business through a $950‑million agreement to acquire South Texas assets from SM Energy Co. The transaction—for SM Energy’s Galvan Ranch assets—includes about 61,000 net acres, roughly 250 MMcfed of production as of December 2025 from 260 wells in the southern Maverick basin in Webb County, Tex., and related infrastructure. SM Energy expects the assets to produce 37,000–39,000 boe/d this year (45% liquids, 9% oil). Net proved reserves totaled about 168 MMboe as of Dec. 31, 2025. “Galvan Ranch significantly expands our footprint in the Eagle Ford and Austin Chalk and comes with existing infrastructure that supports long‑term, capital‑efficient development,” said David Lawler, chief executive officer of Caturus. He added that the largely contiguous Webb County Core position provides “more than a decade of high‑quality drilling inventory across both the wet and dry gas windows, with additional upside beyond that horizon.” Wellhead-to-water Caturus is pursuing a wellhead‑to‑water model supported by its proximity to the Gulf Coast. The company aims to establish the only independent, fully integrated natural gas and LNG export platform in the US through Caturus Energy’s upstream operations and its 9.5-million tonnes/year (tpy) Commonwealth LNG project in Cameron, La. The company is moving toward a final investment decision on the plant and has secured 7 million tpy of long-term offtake agreements. Following the acquisition, Caturus would have proforma net production of about 950 MMcfed across 275,000 net acres along the Gulf Coast. This deal follows a 2025 development agreement with Black Stone Minerals covering 220,000 gross acres in the Shelby Trough for a multi‑year drilling program. Caturus said the Galvan Ranch acquisition and its Haynesville entry position the company “to deliver low‑nitrogen natural gas to key LNG hubs at Gillis and Agua Dulce.” The transaction is expected to close in second‑quarter

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National Grid, Con Edison urge FERC to adopt gas pipeline reliability requirements

The Federal Energy Regulatory Commission should adopt reliability-related requirements for gas pipeline operators to ensure fuel supplies during cold weather, according to National Grid USA and affiliated utilities Consolidated Edison Co. of New York and Orange and Rockland Utilities. In the wake of power outages in the Southeast and the near collapse of New York City’s gas system during Winter Storm Elliott in December 2022, voluntary efforts to bolster gas pipeline reliability are inadequate, the utilities said in two separate filings on Friday at FERC. The filings were in response to a gas-electric coordination meeting held in November by the Federal-State Current Issues Collaborative between FERC and the National Association of Regulatory Utility Commissioners. National Grid called for FERC to use its authority under the Natural Gas Act to require pipeline reliability reporting, coupled with enforcement mechanisms, and pipeline tariff reforms. “Such data reporting would enable the commission to gain a clearer picture into pipeline reliability and identify any problematic trends in the quality of pipeline service,” National Grid said. “At that point, the commission could consider using its ratemaking, audit, and civil penalty authority preemptively to address such identified concerns before they result in service curtailments.” On pipeline tariff reforms, FERC should develop tougher provisions for force majeure events — an unforeseen occurence that prevents a contract from being fulfilled — reservation charge crediting, operational flow orders, scheduling and confirmation enhancements, improved real-time coordination, and limits on changes to nomination rankings, National Grid said. FERC should support efforts in New England and New York to create financial incentives for gas-fired generators to enter into winter contracts for imported liquefied natural gas supplies, or other long-term firm contracts with suppliers and pipelines, National Grid said. Con Edison and O&R said they were encouraged by recent efforts such as North American Energy Standard

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US BOEM Seeks Feedback on Potential Wind Leasing Offshore Guam

The United States Bureau of Ocean Energy Management (BOEM) on Monday issued a Call for Information and Nominations to help it decide on potential leasing areas for wind energy development offshore Guam. The call concerns a contiguous area around the island that comprises about 2.1 million acres. The area’s water depths range from 350 meters (1,148.29 feet) to 2,200 meters (7,217.85 feet), according to a statement on BOEM’s website. Closing April 7, the comment period seeks “relevant information on site conditions, marine resources, and ocean uses near or within the call area”, the BOEM said. “Concurrently, wind energy companies can nominate specific areas they would like to see offered for leasing. “During the call comment period, BOEM will engage with Indigenous Peoples, stakeholder organizations, ocean users, federal agencies, the government of Guam, and other parties to identify conflicts early in the process as BOEM seeks to identify areas where offshore wind development would have the least impact”. The next step would be the identification of specific WEAs, or wind energy areas, in the larger call area. BOEM would then conduct environmental reviews of the WEAs in consultation with different stakeholders. “After completing its environmental reviews and consultations, BOEM may propose one or more competitive lease sales for areas within the WEAs”, the Department of the Interior (DOI) sub-agency said. BOEM Director Elizabeth Klein said, “Responsible offshore wind development off Guam’s coast offers a vital opportunity to expand clean energy, cut carbon emissions, and reduce energy costs for Guam residents”. Late last year the DOI announced the approval of the 2.4-gigawatt (GW) SouthCoast Wind Project, raising the total capacity of federally approved offshore wind power projects to over 19 GW. The project owned by a joint venture between EDP Renewables and ENGIE received a positive Record of Decision, the DOI said in

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Biden Bars Offshore Oil Drilling in USA Atlantic and Pacific

President Joe Biden is indefinitely blocking offshore oil and gas development in more than 625 million acres of US coastal waters, warning that drilling there is simply “not worth the risks” and “unnecessary” to meet the nation’s energy needs.  Biden’s move is enshrined in a pair of presidential memoranda being issued Monday, burnishing his legacy on conservation and fighting climate change just two weeks before President-elect Donald Trump takes office. Yet unlike other actions Biden has taken to constrain fossil fuel development, this one could be harder for Trump to unwind, since it’s rooted in a 72-year-old provision of federal law that empowers presidents to withdraw US waters from oil and gas leasing without explicitly authorizing revocations.  Biden is ruling out future oil and gas leasing along the US East and West Coasts, the eastern Gulf of Mexico and a sliver of the Northern Bering Sea, an area teeming with seabirds, marine mammals, fish and other wildlife that indigenous people have depended on for millennia. The action doesn’t affect energy development under existing offshore leases, and it won’t prevent the sale of more drilling rights in Alaska’s gas-rich Cook Inlet or the central and western Gulf of Mexico, which together provide about 14% of US oil and gas production.  The president cast the move as achieving a careful balance between conservation and energy security. “It is clear to me that the relatively minimal fossil fuel potential in the areas I am withdrawing do not justify the environmental, public health and economic risks that would come from new leasing and drilling,” Biden said. “We do not need to choose between protecting the environment and growing our economy, or between keeping our ocean healthy, our coastlines resilient and the food they produce secure — and keeping energy prices low.” Some of the areas Biden is protecting

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Biden Admin Finalizes Hydrogen Tax Credit Favoring Cleaner Production

The Biden administration has finalized rules for a tax incentive promoting hydrogen production using renewable power, with lower credits for processes using abated natural gas. The Clean Hydrogen Production Credit is based on carbon intensity, which must not exceed four kilograms of carbon dioxide equivalent per kilogram of hydrogen produced. Qualified facilities are those whose start of construction falls before 2033. These facilities can claim credits for 10 years of production starting on the date of service placement, according to the draft text on the Federal Register’s portal. The final text is scheduled for publication Friday. Established by the 2022 Inflation Reduction Act, the four-tier scheme gives producers that meet wage and apprenticeship requirements a credit of up to $3 per kilogram of “qualified clean hydrogen”, to be adjusted for inflation. Hydrogen whose production process makes higher lifecycle emissions gets less. The scheme will use the Energy Department’s Greenhouse Gases, Regulated Emissions and Energy Use in Transportation (GREET) model in tiering production processes for credit computation. “In the coming weeks, the Department of Energy will release an updated version of the 45VH2-GREET model that producers will use to calculate the section 45V tax credit”, the Treasury Department said in a statement announcing the finalization of rules, a process that it said had considered roughly 30,000 public comments. However, producers may use the GREET model that was the most recent when their facility began construction. “This is in consideration of comments that the prospect of potential changes to the model over time reduces investment certainty”, explained the statement on the Treasury’s website. “Calculation of the lifecycle GHG analysis for the tax credit requires consideration of direct and significant indirect emissions”, the statement said. For electrolytic hydrogen, electrolyzers covered by the scheme include not only those using renewables-derived electricity (green hydrogen) but

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Xthings unveils Ulticam home security cameras powered by edge AI

Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More Xthings announced that its Ulticam security camera brand has a new model out today: the Ulticam IQ Floodlight, an edge AI-powered home security camera. The company also plans to showcase two additional cameras, Ulticam IQ, an outdoor spotlight camera, and Ulticam Dot, a portable, wireless security camera. All three cameras offer free cloud storage (seven days rolling) and subscription-free edge AI-powered person detection and alerts. The AI at the edge means that it doesn’t have to go out to an internet-connected data center to tap AI computing to figure out what is in front of the camera. Rather, the processing for the AI is built into the camera itself, and that sets a new standard for value and performance in home security cameras. It can identify people, faces and vehicles. CES 2025 attendees can experience Ulticam’s entire lineup at Pepcom’s Digital Experience event on January 6, 2025, and at the Venetian Expo, Halls A-D, booth #51732, from January 7 to January 10, 2025. These new security cameras will be available for purchase online in the U.S. in Q1 and Q2 2025 at U-tec.com, Amazon, and Best Buy. The Ulticam IQ Series: smart edge AI-powered home security cameras Ulticam IQ home security camera. The Ulticam IQ Series, which includes IQ and IQ Floodlight, takes home security to the next level with the most advanced AI-powered recognition. Among the very first consumer cameras to use edge AI, the IQ Series can quickly and accurately identify people, faces and vehicles, without uploading video for server-side processing, which improves speed, accuracy, security and privacy. Additionally, the Ulticam IQ Series is designed to improve over time with over-the-air updates that enable new AI features. Both cameras

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Intel unveils new Core Ultra processors with 2X to 3X performance on AI apps

Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More Intel unveiled new Intel Core Ultra 9 processors today at CES 2025 with as much as two or three times the edge performance on AI apps as before. The chips under the Intel Core Ultra 9 and Core i9 labels were previously codenamed Arrow Lake H, Meteor Lake H, Arrow Lake S and Raptor Lake S Refresh. Intel said it is pushing the boundaries of AI performance and power efficiency for businesses and consumers, ushering in the next era of AI computing. In other performance metrics, Intel said the Core Ultra 9 processors are up to 5.8 times faster in media performance, 3.4 times faster in video analytics end-to-end workloads with media and AI, and 8.2 times better in terms of performance per watt than prior chips. Intel hopes to kick off the year better than in 2024. CEO Pat Gelsinger resigned last month without a permanent successor after a variety of struggles, including mass layoffs, manufacturing delays and poor execution on chips including gaming bugs in chips launched during the summer. Intel Core Ultra Series 2 Michael Masci, vice president of product management at the Edge Computing Group at Intel, said in a briefing that AI, once the domain of research labs, is integrating into every aspect of our lives, including AI PCs where the AI processing is done in the computer itself, not the cloud. AI is also being processed in data centers in big enterprises, from retail stores to hospital rooms. “As CES kicks off, it’s clear we are witnessing a transformative moment,” he said. “Artificial intelligence is moving at an unprecedented pace.” The new processors include the Intel Core 9 Ultra 200 H/U/S models, with up to

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How uncrewed narco subs could transform the Colombian drug trade

On a bright morning last April, a surveillance plane operated by the Colombian military spotted a 40-foot-long shark-like silhouette idling in the ocean just off Tayrona National Park. It was, unmistakably, a “narco sub,” a stealthy fiberglass vessel that sails with its hull almost entirely underwater, used by drug cartels to move cocaine north. The plane’s crew radioed it in, and eventually nearby coast guard boats got the order, routine but urgent: Intercept. In Cartagena, about 150 miles from the action, Captain Jaime González Zamudio, commander of the regional coast guard group, sat down at his desk to watch what happened next. On his computer monitor, icons representing his patrol boats raced toward the sub’s coordinates as updates crackled over his radio from the crews at sea. This was all standard; Colombia is the world’s largest producer of cocaine, and its navy has been seizing narco subs for decades. And so the captain was pretty sure what the outcome would be. His crew would catch up to the sub, just a bit of it showing above the water’s surface. They’d bring it to heel, board it, and force open the hatch to find two, three, maybe four exhausted men suffocating in a mix of diesel fumes and humidity, and a cargo compartment holding several tons of cocaine. The boats caught up to the sub. A crew boarded, forced open the hatch, and confirmed that the vessel was secure. But from that point on, things were different. First, some unexpected details came over the radio: There was no cocaine on board. Neither was there a crew, nor a helm, nor even enough room for a person to lie down. Instead, inside the hull the crew found a fuel tank, an autopilot system and control electronics, and a remotely monitored security camera. González Zamudio’s crew started sending pictures back to Cartagena: Bolted to the hull was another camera, as well as two plastic rectangles, each about the size of a cookie sheet—antennas for connecting to Starlink satellite internet.
The authorities towed the boat back to Cartagena, where military techs took a closer look. Weeks later, they came to an unsettling conclusion: This was Colombia’s first confirmed uncrewed narco sub. It could be operated by remote control, but it was also capable of some degree of autonomous travel. The techs concluded that the sub was likely a prototype built by the Clan del Golfo, a powerful criminal group that operates along the Caribbean coast. For decades, handmade narco subs have been some of the cocaine trade’s most elusive and productive workhorses, ferrying multi-ton loads of illicit drugs from Colombian estuaries toward markets in North America and, increasingly, the rest of the world. Now off-the-shelf technology—Starlink terminals, plug-and-play nautical autopilots, high-resolution video cameras—may be advancing that cat-and-mouse game into a new phase.
Uncrewed subs could move more cocaine over longer distances, and they wouldn’t put human smugglers at risk of capture. Law enforcement around the world is just beginning to grapple with what the Tayrona sub means for the future—whether it was merely an isolated experiment or the opening move in a new era of autonomous drug smuggling at sea. Drug traffickers love the ocean. “You can move drug traffic through legal and illegal routes,” says Juan Pablo Serrano, a captain in the Colombian navy and head of the operational coordination center for Orión, a multiagency, multinational counternarcotics effort. The giant container ships at the heart of global commerce offer a favorite approach, Serrano says. Bribe a chain of dockworkers and inspectors, hide a load in one of thousands of cargo boxes, and put it on a totally legal commercial vessel headed to Europe or North America. That route is slow and expensive—involving months of transit and bribes spread across a wide network—but relatively low risk. “A ship can carry 5,000 containers. Good luck finding the right one,” he says. Far less legal, but much faster and cheaper, are small, powerful motorboats. Quick to build and cheap to crew, these “go-fasts” top out at just under 50 feet long and can move smaller loads in hours rather than days. But they’re also easy for coastal radars and patrols to spot. Submersibles—or, more accurately, “semisubmersibles”—fit somewhere in the middle. They take more money and engineering to build than an open speedboat, but they buy stealth—even if a bit of the vessel rides at the surface, the bulk stays hidden underwater. That adds another option to a portfolio that smugglers constantly rebalance across three variables: risk, time, and cost. When US and Colombian authorities tightened control over air routes and commercial shipping in the early 1990s, subs became more attractive. The first ones were crude wooden hulls with a fiberglass shell and extra fuel tanks, cobbled together in mangrove estuaries, hidden from prying eyes. Today’s fiberglass semisubmersible designs ride mostly below the surface, relying on diesel engines that can push multi-ton loads for days at a time while presenting little more than a ripple and a hot exhaust pipe to radar and infrared sensors. A typical semisubmersible costs under $2 million to build and can carry three metric tons of cocaine. That’s worth over $160 million in Europe—wholesale. Most ferry between South American coasts and handoff points in Central America and Mexico, where allied criminal organizations break up the cargo and slowly funnel it toward the US. But some now go much farther. In 2019, Spanish authorities intercepted a semisubmersible after a 27-day transatlantic voyage from Brazil. In 2024, police in the Solomon Islands found the first narco sub in the Asia-Pacific region, a semisubmersible probably originating from Colombia on its way to Australia or New Zealand. If the variables are risk, time, and cost, then the economics of a narco sub are simple. Even if they spend more time on the water than a powerboat, they’re less likely to get caught—and a relative bargain to produce. A narco sub might cost between $1 million and $2 million to build, but a kilo of cocaine costs just about $500 to make. “By the time that kilo reaches Europe, it can sell for between $44,000 and $55,000,” Serrano says. A typical semisubmersible carries up to three metric tons—cargo worth well over $160 million at European wholesale prices. Off-the-shelf nautical autopilots, WiFi antennas, Starlink satellite internet connections, and remote cameras are all drug smugglers need to turn semisubmersibles into drone ships. As a result, narco subs are getting more common. Seizures by authorities tripled in the last 20 years, according to Colombia’s International Center for Research and Analysis Against Maritime Drug Trafficking (CMCON), and Serrano admits that the Orión alliance has enough ships and aircraft to catch only a fraction of what sails. Until now, though, narco subs have had one major flaw: They depended on people, usually poor fishermen or low-level recruits sealed into stifling compartments for days at a time, steering by GPS and sight, hoping not to be spotted. That made the subs expensive and a risk to drug sellers if captured. Like good capitalists, the Tayrona boat’s builders seem to have been trying to obviate labor costs with automation. No crew means more room for drugs or fuel and no sailors to pay—or to get arrested or flip if a mission goes wrong.

“If you don’t have a person or people on board, that makes the transoceanic routes much more feasible,” says Henry Shuldiner, a researcher at InSight Crime who has analyzed hundreds of narco-sub cases. It’s one thing, he notes, to persuade someone to spend a day or two going from Colombia to Panama for a big payout; it’s another to ask four people to spend three weeks sealed inside a cramped tube, sleeping, eating, and relieving themselves in the same space. “That’s a hard sell,” Shuldiner says. An uncrewed sub doesn’t have to race to a rendezvous because its crew can endure only a few days inside. It can move more slowly and stealthily. It can wait out patrols or bad weather, loiter near a meeting point, or take longer and less well-monitored routes. And if something goes wrong—if a military plane appears or navigation fails—its owners can simply scuttle the vessel from afar. Meanwhile, the basic technology to make all that work is getting more and more affordable, and the potential profit margins are rising. “The rapidly approaching universality of autonomous technology could be a nightmare for the U.S. Coast Guard,” wrote two Coast Guard officers in the US Naval Institute’s journal Proceedings in 2021. And as if to prove how good an idea drone narco subs are, the US Marine Corps and the weapons builder Leidos are testing a low-profile uncrewed vessel called the Sea Specter, which they describe as being “inspired” by narco-sub design. The possibility that drug smugglers are experimenting with autonomous subs isn’t just theoretical. Law enforcement agencies on other smuggling routes have found signs the Tayrona sub isn’t an isolated case. In 2022, Spanish police seized three small submersible drones near Cádiz, on Spain’s southern coast. Two years later, Italian authorities confiscated a remote-­controlled minisubmarine they believed was intended for drug runs. “The probability of expansion is high,” says Diego Cánovas, a port and maritime security expert in Spain. Tayrona, the biggest and most technologically advanced uncrewed narco sub found so far, is more likely a preview than an anomaly. Today, the Tayrona semisubmersible sits on a strip of grass at the ARC Bolívar naval base in Cartagena. It’s exposed to the elements; rain has streaked its paint. To one side lies an older, bulkier narco sub seized a decade ago, a blue cylinder with a clumsy profile. The Tayrona’s hull looks lower, leaner, and more refined. Up close, it is also unmistakably handmade. The hull is a dull gray-blue, the fiberglass rough in places, with scrapes and dents from the tow that brought it into port. It has no identifying marks on the exterior—nothing that would tie it to a country, a company, or a port. On the upper surface sit the two Starlink antennas, painted over in the same gray-blue to keep them from standing out against the sea. I climb up a ladder and drop through the small hatch near the stern. Inside, the air is damp and close, the walls beaded with condensation. Small puddles of fuel have collected in the bilge. The vessel has no seating, no helm or steering wheel, and not enough space to stand up straight or lie down. It’s clear it was never meant to carry people. A technical report by CMCON found that the sub would have enough fuel for a journey of some 800 nautical miles, and the central cargo bay would hold between 1 and 1.5 tons of cocaine. At the aft end, the machinery compartment is a tangle of hardware: diesel engine, batteries, pumps, and a chaotic bundle of cables feeding an electronics rack. All the core components are still there. Inside that rack, investigators identified a NAC-3 autopilot processor, a commercial unit designed to steer midsize boats by tying into standard hydraulic pumps, heading sensors, and rudder-­feedback systems. They cost about $2,200 on Amazon.
“These are plug-and-play technologies,” says Wilmar Martínez, a mechatronics professor at the University of America in Bogotá, when I show him pictures of the inside of the sub. “Midcareer mechatronics students could install them.” For all its advantages, an autonomous drug-smuggling submarine wouldn’t be invincible. Even without a crew on board, there are still people in the chain. Every satellite internet terminal—Starlink or not—comes with a billing address, a payment method, and a log of where and when it pings the constellation. Colombian officers have begun to talk about negotiating formal agreements with providers, asking them to alert authorities when a transceiver’s movements match known smuggling patterns. Brazil’s government has already cut a deal with Starlink to curb criminal use of its service in the Amazon.
The basic playbook for finding a drone sub will look much like the one for crewed semisubmersibles. Aircraft and ships will use radar to pick out small anomalies and infrared cameras to look for the heat of a diesel engine or the turbulence of a wake. That said, it might not work. “If they wind up being smaller, they’re going to be darn near impossible to detect,” says Michael Knickerbocker, a former US Navy officer who advises defense tech firms. Autonomous drug subs are “a great example of how resilient cocaine traffickers are, and how they’re continuously one step ahead of authorities,” says one researcher. Even worse, navies already act on only a fraction of their intelligence leads because they don’t have enough ships and aircraft. The answer, Knickerbocker argues, is “robot on robot.” Navies and coast guards will need swarms of their own small, relatively cheap uncrewed systems—surface vessels, underwater gliders, and long-endurance aerial vehicles that can loiter, sense, and relay data back to human operators. Those experiments have already begun. The US 4th Fleet, which covers Latin America and the Caribbean, is experimenting with uncrewed platforms in counternarcotics patrols. Across the Atlantic, the European Union’s European Maritime Safety Agency operates drones for maritime surveillance. Today, though, the major screens against oceangoing vessels of all kinds are coastal radar networks. Spain operates SIVE to watch over choke points like the Strait of Gibraltar, and in the Pacific, Australia’s over-the-horizon radar network, JORN, can spot objects hundreds of miles away, far beyond the range of conventional radar. Even so, it’s not enough to just spot an uncrewed narco sub. Law enforcement also has to stop it—and that will be tricky. To find drone subs, international law enforcement will likely have to rely on networks of surveillance systems and, someday, swarms of their own drones.CARLOS PARRA RIOS With a crewed vessel, Colombian doctrine says coast guard units should try to hail the boat first with lights, sirens, radio calls, and warning shots. If that fails, interceptor crews sometimes have to jump aboard and force the hatch. Officers worry that future autonomous craft could be wired to sink or even explode if someone gets too close. “If they get destroyed, we may lose the evidence,” says Víctor González Badrán, a navy captain and director of CMCON. “That means no seizure and no legal proceedings against that organization.”  That’s where electronic warfare enters the picture—radio-frequency jamming, cyber tools, perhaps more exotic options. In the simplest version, jamming means flooding the receiver with noise so that commands from the operator never reach the vessel. Spoofing goes a step further, feeding fake signals so that the sub thinks it’s somewhere else or obediently follows a fake set of waypoints. Cyber tools might aim higher up the chain, trying to penetrate the software that runs the vessel or the networks it uses to talk to satellite constellations. At the cutting edge of these countermeasures are electromagnetic pulses designed to fry electronics outright, turning a million-dollar narco sub into a dead hull drifting at sea.
In reality, the tools that might catch a future Tayrona sub are unevenly distributed, politically sensitive, and often experimental. Powerful cyber or electromagnetic tricks are closely guarded secrets; using them in a drug case risks exposing capabilities that militaries would rather reserve for wars. Systems like Australia’s JORN radar are tightly held national security assets, their exact performance specs classified, and sharing raw data with countries on the front lines of the cocaine trade would inevitably mean revealing hints as to how they got it. “Just because a capability exists doesn’t mean you employ it,” Knickerbocker says.  Analysts don’t think uncrewed narco subs will reshape the global drug trade, despite the technological leap. Trafficking organizations will still hedge their bets across those three variables, hiding cocaine in shipping containers, dissolving it into liquids and paints, racing it north in fast boats. “I don’t think this is revolutionary,” Shuldiner says. “But it’s a great example of how resilient cocaine traffickers are, and how they’re continuously one step ahead of authorities.” There’s still that chance, though, that everything international law enforcement agencies know about drug smuggling is about to change. González Zamudio says he keeps getting requests from foreign navies, coast guards, and security agencies to come see the Tayrona sub. He greets their delegations, takes them out to the strip of grass on the base, and walks them around it, gives them tours. It has become a kind of pilgrimage. Everyone who makes it worries that the next time a narco sub appears near a distant coastline, they’ll board it as usual, force the hatch—and find it full of cocaine and gadgets, but without a single human occupant. And no one knows what happens after that.  Eduardo Echeverri López is a journalist based in Colombia.

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The building legal case for global climate justice

The United States and the European Union grew into economic superpowers by committing climate atrocities. They have burned a wildly disproportionate share of the world’s oil and gas, planting carbon time bombs that will detonate first in the poorest, hottest parts of the globe.  Meanwhile, places like the Solomon Islands and Chad—low-lying or just plain sweltering—have emitted relatively little carbon dioxide, but by dint of their latitude and history, they rank among the countries most vulnerable to the fiercest consequences of global warming. That means increasingly devastating cyclones, heat waves, famines, and floods. Morally, there’s an ironclad case that the countries or companies responsible for this mess should provide compensation for the homes that will be destroyed, the shorelines that will disappear beneath rising seas, and the lives that will be cut short. By one estimate, the major economies owe a climate debt to the rest of the world approaching $200 trillion in reparations. Legally, though, the case has been far harder to make. Even putting aside the jurisdictional problems, early climate science couldn’t trace the provenance of airborne molecules of carbon dioxide across oceans and years. Deep-pocketed corporations with top-tier legal teams easily exploited those difficulties. 
Now those tides might be turning. More climate-related lawsuits are getting filed, particularly in the Global South. Governments, nonprofits, and citizens in the most climate-exposed nations continue to test new legal arguments in new courts, and some of those courts are showing a new willingness to put nations and their industries on the hook as a matter of human rights. In addition, the science of figuring out exactly who is to blame for specific weather disasters, and to what degree, is getting better and better.  It’s true that no court has yet held any climate emitter liable for climate-related damages. For starters, nations are generally immune from lawsuits originating in other countries. That’s why most cases have focused on major carbon producers. But they’ve leaned on a pretty powerful defense. 
While oil and gas companies extract, refine, and sell the world’s fossil fuels, most of the emissions come out of “the vehicles, power plants, and factories that burn the fuel,” as Michael Gerrard and Jessica Wentz, of Columbia Law School’s Sabin Center, note in a recent piece in Nature. In other words, companies just dig the stuff up. It’s not their fault someone else sets it on fire. So victims of extreme weather events continue to try new legal avenues and approaches, backed by ever-more-convincing science. Plaintiffs in the Philippines recently sued the oil giant Shell over its role in driving Super Typhoon Odette, a 2021 storm that killed more than 400 people and displaced nearly 800,000. The case relies partially on an attribution study that found climate change made extreme rainfall like that seen in Odette twice as likely. 

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What It Takes to Make Agentic AI Work in Retail

Thank you for joining us on the “Enterprise AI hub.” In this episode of the Infosys Knowledge Institute Podcast, Dylan Cosper speaks with Prasad Banala, Director of Software Engineering at a large US-based retail organization, about operationalizing agentic AI across the software development lifecycle. Prasad explains how his team applies AI to validate requirements, generate and analyze test cases, and accelerate issue resolution, while maintaining strict governance, human-in-the-loop review, and measurable quality outcomes. Click here to continue.

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From Integration Chaos to Digital Clarity: Nutrien Ag Solutions’ Post-Acquisition Reset

Thank you for joining us on the “Enterprise AI hub.” In this episode of the Infosys Knowledge Institute Podcast, Dylan Cosper speaks with Sriram Kalyan, Head of Applications and Data at Nutrien Ag Solutions, Australia, about turning a high-risk post-acquisition IT landscape into a scalable digital foundation. Sriram shares how the merger of two major Australian agricultural companies created duplicated systems, fragile integrations, and operational risk, compounded by the sudden loss of key platform experts and partners. He explains how leadership alignment, disciplined platform consolidation, and a clear focus on business outcomes transformed integration from an invisible liability into a strategic enabler, positioning Nutrien Ag Solutions for future growth, cloud transformation, and enterprise scale. Click here to continue.

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Google DeepMind wants to know if chatbots are just virtue signaling

EXECUTIVE SUMMARY Google DeepMind is calling for the moral behavior of large language models—such as what they do when called on to act as companions, therapists, medical advisors, and so on—to be scrutinized with the same kind of rigor as their ability to code or do math. As LLMs improve, people are asking them to play more and more sensitive roles in their lives. Agents are starting to take actions on people’s behalf. LLMs may be able to influence human decision-making. And yet nobody knows how trustworthy this technology really is at such tasks. With coding and math, you have clear-cut, correct answers that you can check, William Isaac, a research scientist at Google DeepMind, told me when I met him and Julia Haas, a fellow research scientist at the firm, for an exclusive preview of their work, which is published in Nature today. That’s not the case for moral questions, which typically have a range of acceptable answers: “Morality is an important capability but hard to evaluate,” says Isaac. “In the moral domain, there’s no right and wrong,” adds Haas. “But it’s not by any means a free-for-all. There are better answers and there are worse answers.”
The researchers have identified several key challenges and suggested ways to address them. But it is more a wish list than a set of ready-made solutions. “They do a nice job of bringing together different perspectives,” says Vera Demberg, who studies LLMs at Saarland University in Germany. Better than “The Ethicist” A number of studies have shown that LLMs can show remarkable moral competence. One study published last year found that people in the US scored ethical advice from OpenAI’s GPT-4o as being more moral, trustworthy, thoughtful, and correct than advice given by the (human) writer of “The Ethicist,” a popular New York Times advice column.  
The problem is that it is hard to unpick whether such behaviors are a performance—mimicking a memorized response, say—or evidence that there is in fact some kind of moral reasoning taking place inside the model. In other words, is it virtue or virtue signaling? This question matters because multiple studies also show just how untrustworthy LLMs can be. For a start, models can be too eager to please. They have been found to flip their answer to a moral question and say the exact opposite when a person disagrees or pushes back on their first response. Worse, the answers an LLM gives to a question can change in response to how it is presented or formatted. For example, researchers have found that models quizzed about political values can give different—sometimes opposite—answers depending on whether the questions offer multiple-choice answers or instruct the model to respond in its own words. In an even more striking case, Demberg and her colleagues presented several LLMs, including versions of Meta’s Llama 3 and Mistral, with a series of moral dilemmas and asked them to pick which of two options was the better outcome. The researchers found that the models often reversed their choice when the labels for those two options were changed from “Case 1” and “Case 2” to “(A)” and “(B).” They also showed that models changed their answers in response to other tiny formatting tweaks, including swapping the order of the options and ending the question with a colon instead of a question mark. In short, the appearance of moral behavior in LLMs should not be taken at face value. Models must be probed to see how robust that moral behavior really is. “For people to trust the answers, you need to know how you got there,” says Haas. More rigorous tests What Haas, Isaac, and their colleagues at Google DeepMind propose is a new line of research to develop more rigorous techniques for evaluating moral competence in LLMs. This would include tests designed to push models to change their responses to moral questions. If a model flipped its moral position, it would show that it hadn’t engaged in robust moral reasoning.  Another type of test would present models with variations of common moral problems to check whether they produce a rote response or one that’s more nuanced and relevant to the actual problem that was posed. For example, asking a model to talk through the moral implications of a complex scenario in which a man donates sperm to his son so that his son can have a child of his own might produce concerns about the social impact of allowing a man to be both biological father and biological grandfather to a child. But it should not produce concerns about incest, even though the scenario has superficial parallels with that taboo. Haas also says that getting models to provide a trace of the steps they took to produce an answer would give some insight into whether that answer was a fluke or grounded in actual evidence. Techniques such as chain-of-thought monitoring, in which researchers listen in on a kind of internal monologue that some LLMs produce as they work, could help here too.

Another approach researchers could use to determine why a model gave a particular answer is mechanistic interpretability, which can provide small glimpses inside a model as it carries out a task. Neither chain-of-thought monitoring nor mechanistic interpretability provides perfect snapshots of a model’s workings. But the Google DeepMind team believes that combining such techniques with a wide range of rigorous tests will go a long way to figuring out exactly how far to trust LLMs with certain critical or sensitive tasks.   Different values And yet there’s a wider problem too. Models from major companies such as Google DeepMind are used across the world by people with different values and belief systems. The answer to a simple question like “Should I order pork chops?” should differ depending on whether or not the person asking is vegetarian or Jewish, for example. There’s no solution to this challenge, Haas and Isaac admit. But they think that models may need to be designed either to produce a range of acceptable answers, aiming to please everyone, or to have a kind of switch that turns different moral codes on and off depending on the user. “It’s a complex world out there,” says Haas. “We will probably need some combination of those things, because even if you’re taking just one population, there’s going to be a range of views represented.” “It’s a fascinating paper,” says Danica Dillion at Ohio State University, who studies how large language models handle different belief systems and was not involved in the work. “Pluralism in AI is really important, and it’s one of the biggest limitations of LLMs and moral reasoning right now,” she says. “Even though they were trained on a ginormous amount of data, that data still leans heavily Western. When you probe LLMs, they do a lot better at representing Westerners’ morality than non-Westerners’.” But it is not yet clear how we can build models that are guaranteed to have moral competence across global cultures, says Demberg. “There are these two independent questions. One is: How should it work? And, secondly, how can it technically be achieved? And I think that both of those questions are pretty open at the moment.” For Isaac, that makes morality a new frontier for LLMs. “I think this is equally as fascinating as math and code in terms of what it means for AI progress,” he says. “You know, advancing moral competency could also mean that we’re going to see better AI systems overall that actually align with society.”

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A new way to express yourself: Gemini can now create music

New audio verification capabilitiesAll tracks generated in the Gemini app are embedded with SynthID, our imperceptible watermark for identifying Google AI-generated content. We are also giving you more tools to help identify AI content, broadening our verification capabilities in the Gemini app to include audio, along with image and video. Simply upload a file and ask if it was generated using Google AI, and Gemini will check for SynthID and use its own reasoning to return a response.Our commitment to developing generative AI responsiblySince we first launched Lyria in 2023, we’ve sought to develop this technology responsibly in collaboration with the music community. We’ve learned a lot through these collaborations and our experiments, like Music AI Sandbox, and have been very mindful of copyright and partner agreements as we’ve trained Lyria 3.Music generation with Lyria 3 is designed for original expression, not for mimicking existing artists. If your prompt names a specific artist, Gemini will take this as broad creative inspiration and create a track that shares a similar style or mood. We also have filters in place to check outputs against existing content. We recognize that our approach might not be foolproof, so you can report content that may violate your rights or the rights of others. Additionally, in order to use our products, users must adhere to our Terms of Service and Gen AI prohibited use policies, which prohibit violations of others’ intellectual property and privacy rights.Lyria 3 is available in the Gemini app for all users 18+ in English, German, Spanish, French, Hindi, Japanese, Korean and Portuguese, with plans to expand quality and coverage of more languages, rolling out on desktop today and to the mobile app over the next several days. And Google AI Plus, Pro and Ultra subscribers will enjoy higher limits.Our goal with music generation in the Gemini app is to help you add a fun, custom soundtrack to your daily life. Try it out today at gemini.google.com.

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Execution, Power, and Public Trust: Rich Miller on 2026’s Data Center Reality and Why He Built Data Center Richness

DCF founder Rich Miller has spent much of his career explaining how the data center industry works. Now, with his latest venture, Data Center Richness, he’s also examining how the industry learns. That thread provided the opening for the latest episode of The DCF Show Podcast, where Miller joined present Data Center Frontier Editor in Chief Matt Vincent and Senior Editor David Chernicoff for a wide-ranging discussion that ultimately landed on a simple conclusion: after two years of unprecedented AI-driven announcements, 2026 will be the year reality asserts itself. Projects will either get built, or they won’t. Power will either materialize, or it won’t. Communities will either accept data center expansion – or they’ll stop it. In other words, the industry is entering its execution phase. Why Data Center Richness Matters Now Miller launched Data Center Richness as both a podcast and a Substack publication, an effort to experiment with formats and better understand how professionals now consume industry information. Podcasts have become a primary way many practitioners follow the business, while YouTube’s discovery advantages increasingly make video versions essential. At the same time, Miller remains committed to written analysis, using Substack as a venue for deeper dives and format experimentation. One example is his weekly newsletter distilling key industry developments into just a handful of essential links rather than overwhelming readers with volume. The approach reflects a broader recognition: the pace of change has accelerated so much that clarity matters more than quantity. The topic of how people learn about data centers isn’t separate from the industry’s trajectory; it’s becoming part of it. Public perception, regulatory scrutiny, and investor expectations are now shaped by how stories are told as much as by how facilities are built. That context sets the stage for the conversation’s core theme. Execution Defines 2026 After

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Vertiv’s AI Infrastructure Surge: Record Orders, Liquid Cooling Expansion, and Grid-Scale Power Reflect Data Center Growth

2) “Units of compute”: OneCore and SmartRun On the earnings call, Albertazzi highlighted Vertiv OneCore, an end-to-end data center solution designed to accelerate “time to token,” scaling in 12.5 MW building blocks; and Vertiv SmartRun, a prefabricated white space infrastructure solution aimed at rapidly accelerating fit-out and readiness. He pointed to collaborations (including Hut 8 and Compass Data Centers) as proof points of adoption, emphasizing that SmartRun can stand alone or plug into OneCore. 3) Cooling evolution: hybrid thermal chains and the “trim cooler” Asked how cooling architectures may change (amid industry chatter about warmer-temperature operations and shifting mixes of chillers, CDUs, and other components) Albertazzi leaned into complexity as a feature, not a bug. He argued heat rejection doesn’t disappear, even if some GPU loads can run at higher temperatures. Instead, the future looks hybrid, with mixed loads and resiliency requirements forcing more nuanced thermal chains. Vertiv’s strategic product anchor here is its “trim cooler” concept: a chiller optimized for higher-temperature operation while retaining flexibility for lower-temperature requirements in the same facility, maximizing free cooling where climate and design allow. And importantly, Albertazzi dismissed the idea that CDUs are going away: “We are pretty sure that CDUs in various shapes and forms are a long-term element of the thermal chain.” 4) Edge densification: CoolPhase Ceiling + CoolPhase Row (Feb. 3) Vertiv also expanded its thermal portfolio for edge and small IT environments with the: Vertiv CoolPhase Ceiling (launching Q2 2026): ceiling-mounted, 3.5 kW to 28 kW, designed to preserve floor space. Vertiv CoolPhase Row (available now in North America) for row-based cooling up to 30 kW (300 mm width) or 40 kW (600 mm width). Vertiv Director of Edge Thermal Michal Podmaka tied the products directly to AI-driven edge densification and management consistency, saying the new systems “integrate seamlessly

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Chevron, HELLENiQ Energy secure Mediterranean blocks offshore Greece

Chevron Corp., via its four Dutch subsidiaries, together with HELLENiQ Energy, signed lease agreements with the Hellenic Republic which will enable exploration of four blocks offshore Greece. The consortium, led by Chevron with a 70% operating interest, was awarded the blocks following an international call for tender launched by the Greek government in 2025, Chevron said in a release Feb. 16. The four blocks—South Crete 1, South Crete 2, South of Peloponnese, and Block A2—cover a total area of about 47,000 sq km.  Under the terms of the agreements, the consortium will undertake a three-phase exploration program to assess hydrocarbon potential, starting with 2D and 3D seismic exploration work in phase one.  The target areas lie in ultra-deepwater, some in more than 1,500 m of water, with complex geological structures, HELLENiQ said in a separate release. The agreements are subject to ratification by the Greek Parliament. Chevron Mediterranean The awards add to Chevron’s position in the Mediterranean region, an in which the company is actively pursuing exploration opportunities, said Kevin McLachlan, vice-president of exploration at Chevron. Chevron’s assets in the area include two gas producing fields (offshore Israel), and Aphrodite gas field, which is currently in development (offshore Cyprus). In Egypt, Chevron is operator of two exploration blocks and is in a non-operated joint venture in the Mediterranean Sea. Last week, Chevron was named the winning bidder for onshore block S4 in Libya following signing of a Memorandum of Understanding (MoU) in the country to evaluate development and exploration potential onshore, while also in February, Chevron was awarded MoUs with Turkey and Syria to evaluate opportunities. Chevron’s Dutch subsidiaries are Chevron Greece Holdings (A2) BV, Chevron Greece Holdings (S Peloponnese) BV, Chevron Greece Holdings (S Crete 1) BV, and Chevron Greece Holdings (S Crete 2) BV.

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Caturus Energy advances LNG business through $950-million asset deal with SM Energy

Caturus Energy LLC plans to expand its LNG business through a $950‑million agreement to acquire South Texas assets from SM Energy Co. The transaction—for SM Energy’s Galvan Ranch assets—includes about 61,000 net acres, roughly 250 MMcfed of production as of December 2025 from 260 wells in the southern Maverick basin in Webb County, Tex., and related infrastructure. SM Energy expects the assets to produce 37,000–39,000 boe/d this year (45% liquids, 9% oil). Net proved reserves totaled about 168 MMboe as of Dec. 31, 2025. “Galvan Ranch significantly expands our footprint in the Eagle Ford and Austin Chalk and comes with existing infrastructure that supports long‑term, capital‑efficient development,” said David Lawler, chief executive officer of Caturus. He added that the largely contiguous Webb County Core position provides “more than a decade of high‑quality drilling inventory across both the wet and dry gas windows, with additional upside beyond that horizon.” Wellhead-to-water Caturus is pursuing a wellhead‑to‑water model supported by its proximity to the Gulf Coast. The company aims to establish the only independent, fully integrated natural gas and LNG export platform in the US through Caturus Energy’s upstream operations and its 9.5-million tonnes/year (tpy) Commonwealth LNG project in Cameron, La. The company is moving toward a final investment decision on the plant and has secured 7 million tpy of long-term offtake agreements. Following the acquisition, Caturus would have proforma net production of about 950 MMcfed across 275,000 net acres along the Gulf Coast. This deal follows a 2025 development agreement with Black Stone Minerals covering 220,000 gross acres in the Shelby Trough for a multi‑year drilling program. Caturus said the Galvan Ranch acquisition and its Haynesville entry position the company “to deliver low‑nitrogen natural gas to key LNG hubs at Gillis and Agua Dulce.” The transaction is expected to close in second‑quarter

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Equinor discovers oil, gas at Granat prospect in North Sea

Equinor Energy AS and its partners have discovered oil and gas in the Granat prospect in the North Sea near Gullfaks, 190 km northwest of Bergen, the Norwegian Offshore Directorate reported Feb. 16.   Preliminary estimates place the discovery at 0.2-0.6 million std cu m of recoverable oil equivalent (1.3-3.8 million bbl). The licensees are considering tying the discovery back to existing infrastructure in the Gullfaks area. Wildcat wells 33/12-N-3 HH and 33/12-N-3 GH were drilled in connection with drilling an oil development well on the Gullfaks Satellites (33/12-N-3 IH) in production license 152 (PL 152). The discovery was made in 33/12-N-3 HH in production license 277. This is the first exploration well in the license. Well 33/12-N-3 GH, which had drilling targets in PL 152, was dry. The wells were drilled from production licence 050 using the Askeladden rig. Geological information The objective of wellbore 33/12-3GH (N2A) was to prove hydrocarbons in reservoir rocks in the Tarbert Formation, with secondary targets in the Ness and Etive formations, all in the Brent Group from the Middle Jurassic. The well encountered the Tarbert Formation in a total of 115 m with 48 m of sandstone layers with moderate to good reservoir properties and a total of 59 m in the Ness formation with 10 m of sandstone layers with good reservoir properties. Both formations were aquiferous. Data was collected, including pressure data. Wellbore 33/12-3-GH was drilled to respective measured and vertical depths of 6,708 and 3,460 m and was terminated in the Ness formation. The objective of wellbore 33/12-N-3 HH was to prove hydrocarbons in reservoir rocks in the Tarbert formation, with secondary targets in the Ness and Etive formations, all in the Brent Group from the Middle Jurassic. Wellbore 33/12-N-3 HHT2 encountered a total of 153 m in the Tarbert formation with 58 m of sandstone layers with moderate

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Verde Clean Fuels shifts strategy away from large-scale plant development

Verde Clean Fuels, Houston, aims to reduce its operating costs by 50% this year as part of a larger ‘capital‑lite’ strategy aimed at identifying the most effective and financially disciplined path to commercialize its liquid fuels processing technology. The move comes weeks after the company suspended development of a natural gas-to-gasoline (GTG) project in the Permian basin. At the time, the company cited “changing market conditions driven by increasing demand for natural gas,” in the region, while Verde’s chief executive officer, Ernest Miller, said knowledge collected from the work completed would be useful as the company explored other opportunities to deploy its proprietary synthesis gas (syngas)-to-gasoline plus (STG+) liquid fuels technology. At the forefront is a move away from capital‑intensive plant development. Over $110 million has been invested in development and demonstrating the STG+ technology since 2007, including the construction and operation of the demonstration plant that completed over 10,500 hours of operation. Strategy shift The company now plans to eliminate roles tied to large‑scale plant development and shift its business model toward technology licensing and providing engineering, technical, and operational services. “We own a proprietary advanced-fuel conversion technology platform designed to convert low-value or stranded feedstocks into higher-value clean transportation fuels through an integrated, scalable, process-driven system. We are focused on the most optimal path to deploy our STG+® technology while being extremely disciplined with our resources. We are evaluating strategic alternatives that may be available to maximize shareholder value,” said Ron Hulme, Verde’s chairman of board of directors.  The company is also streamlining its board of directors, cutting director cash compensation by 80%, with two directors not standing for reelection. A newly formed Restructuring Committee, with Verde director Jonathan Siegler—who serves as managing director and chief financial officer of Bluescape Energy Partners, an affiliate of Verde’s primary shareholder—appointed

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