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Iran Risk Hands Oil Algos Early Test

Algorithmic traders have racked up a third straight year of losses in oil, the longest slump on record, with hopes for a turnaround in 2026 facing an early test amid geopolitical volatility.   Price swings sparked by tariffs and wider upheaval from Iran to Ukraine last year starved market players known as commodity-trading advisers, or CTAs, of the clear directional signals they need to profit. The algorithmic traders suffered their longest annual losing streak last year in data going back to 2000, according to analytics firm Kpler. CTAs, which seize on trends, are notorious for amplifying price moves in either direction. For a brief period, conditions appeared to be tilting in their favor. Growing consensus that the oil market will be oversupplied gave CTAs a clear signal late last year, allowing them to eke out a rare positive quarter, according to analysts. That’s compared to much of the rest of 2025, as they struggled to grasp onto a trend amid the Trump administration’s unpredictable trade policy and conflicts in the Middle East.  The positive late-year momentum spurred CTAs to increase their presence in WTI’s front-month contract, according to Kpler, amplifying volatility and complicating market conditions for participants with physical exposure. The shift could be particularly consequential as geopolitical risks, like the threat of US strikes against Iran, trigger sharp price swings. “Choppy ranges, fake breakouts against the underlying fundamentals, signals that worked for about two days before reversing,” Cayler Capital, an oil-focused commodity trading adviser run by Brent Belote, wrote of last year’s trading environment in a letter to investors seen by Bloomberg. “This is the kind of market that exists solely to humble quants and annoy traders.” The turmoil led CTAs to change their position in US oil in roughly 80% of the weeks in 2025, according to data from Kpler. The

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UK Navy Says Ship Hailed by Armed Vessels in Hormuz

(Update) February 3, 2026, 4:42 PM GMT: Article updated with details of vessel involved. An oil tanker that’s part of a US-military fuel procurement program was hailed by small armed ships in the Strait of Hormuz off Iran’s coast on Tuesday, amid heightened tensions between the two countries.  The US-flagged Stena Imperative was hailed over radio while transiting the vital waterway, according to multiple maritime security companies, who declined to be named citing sensitive information. The tanker continued its planned route and didn’t divert, despite the requests, they said.  Iranian media said the country’s naval forces warned a vessel to leave Iranian territorial waters after failing to produce the necessary legal documents. The vessel departed immediately after the warning, Iran’s semi-official Fars News said. A spokesperson for Crowley, which manages the Stena Imperative, didn’t respond to multiple requests for comment. The vessel’s owner referred questions to Crowley. The incident, which was earlier reported by the UK’s naval liaison in the region, occurred in a part of the inbound maritime corridor into the Strait of Hormuz, the narrow chokepoint that allows ships to enter and exit the Persian Gulf and accounts for about a quarter of the world’s seaborne oil trade.  President Donald Trump last week threatened a fresh attack on Iran, heightening tensions between the two nations. He has since said talks between the two countries over a new nuclear deal could take place in the coming days. The ship is part of the US Tanker Security Program, which aims to ensure that the Department of Defense has access to a fleet of American-flagged fuel tankers at all times.  Iran has in the past both harassed and seized ships sailing near to its shores. Last year, it diverted a ship called the Talara to its waters, before unloading its cargo and releasing it. Late last week,

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Devon, Coterra Sign ‘Blockbuster’ Merger Deal

In a joint statement released Monday, Devon Energy and Coterra Energy announced the signing of a definitive agreement to merge in an all-stock transaction. The combination will create a “leading large-cap shale operator with a high-quality asset base anchored by a premier position in the economic core of the Delaware Basin”, according to the statement, which noted that the combined company will be named Devon Energy and will be headquartered in Houston, while maintaining a “significant presence” in Oklahoma City. “The formation of this premier company is expected to unlock substantial value by leveraging each company’s core strengths and through the realization of $1 billion in annual pre-tax synergies,” the statement said. “The realization of synergies, technology-driven capital efficiency gains, and optimized capital allocation will drive near and long-term per share growth,” it added. Under the terms of the deal, Coterra shareholders will receive a fixed exchange ratio of 0.70 share of Devon common stock for each share of Coterra common stock, the statement pointed out. “Based on Devon’s closing price on January 30, 2026, the transaction implies a combined enterprise value of approximately $58 billion,” the statement highlighted. “Upon completion, Devon shareholders will own approximately 54 percent of the go-forward company and Coterra shareholders will own approximately 46 percent on a fully diluted basis,” it added. The transaction was unanimously approved by the boards of directors of both companies, the statement revealed, adding that the deal is expected to close in the second quarter of 2026, subject to regulatory approvals and customary closing conditions, including approvals by Devon and Coterra shareholders. The joint statement noted that the merger will create “one of the world’s leading shale producers, with pro forma third quarter 2025 production exceeding 1.6 million barrels of oil equivalent per day, including over 550,000 barrels of oil

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The Download: squeezing more metal out of aging mines, and AI’s truth crisis

This is today’s edition of The Download, our weekday newsletter that provides a daily dose of what’s going on in the world of technology. Microbes could extract the metal needed for cleantech In a pine forest on Michigan’s Upper Peninsula, the only active nickel mine in the US is nearing the end of its life. At a time when carmakers want the metal for electric-vehicle batteries, nickel concentration at Eagle Mine is falling and could soon drop too low to warrant digging.Demand for nickel, copper, and rare earth elements is rapidly increasing amid the explosive growth of metal-intensive data centers, electric cars, and renewable energy projects. But producing these metals is becoming harder and more expensive because miners have already exploited the best resources. Here’s how biotechnology could help.—Matt Blois
What we’ve been getting wrong about AI’s truth crisis —James O’DonnellWhat would it take to convince you that the era of truth decay we were long warned about—where AI content dupes us, shapes our beliefs even when we catch the lie, and erodes societal trust in the process—is now here?A story I published last week pushed me over the edge. And it also made me realize that the tools we were sold as a cure for this crisis are failing miserably. Read the full story.This story originally appeared in The Algorithm, our weekly newsletter on AI. To get stories like this in your inbox first, sign up here.
TR10: Hyperscale AI data centers In sprawling stretches of farmland and industrial parks, supersized buildings packed with racks of computers are springing up to fuel the AI race.These engineering marvels are a new species of infrastructure: supercomputers designed to train and run large language models at mind-­bending scale, complete with their own specialized chips, cooling systems, and even energy supplies. But all that impressive computing power comes at a cost. Read why we’ve named hyperscale AI data centers as of our 10 Breakthrough Technologies this year, and check out the rest of the list. The must-reads I’ve combed the internet to find you today’s most fun/important/scary/fascinating stories about technology. 1 Elon Musk’s SpaceX has acquired xAIThe deal values the combined companies at a cool $1.25 trillion. (WSJ $)+ It also paves the way for SpaceX to offer an IPO later this year. (WP $)+ Meanwhile, OpenAI has accused xAI of destroying legal evidence. (Bloomberg $)

2 NASA has delayed the launch of Artemis IIIt’s been pushed back to March due to the discovery of a hydrogen leak. (Ars Technica)+ The rocket’s predecessor was also plagued by fuel leaks. (Scientific American) 3 Russia is hiring a guerilla youth army onlineThey’re committing arson and spying on targets across Europe. (New Yorker $)4 Grok is still generating undressed images of menWeeks after the backlash over it doing the same to women. (The Verge)+ How Grok descended into becoming a porn generator. (WP $)+ Inside the marketplace powering bespoke AI deepfakes of real women. (MIT Technology Review)5 OpenAI is searching for alternatives to Nvidia’s chipsIt’s reported to be unhappy about the speed at which it powers ChatGPT. (Reuters) 6 The latest attempt to study a notoriously unstable glacier has failedScientists lost their equipment within Antarctica’s Thwaites Glacier over the weekend. (NYT $)+ Inside a new quest to save the “doomsday glacier” (MIT Technology Review) 7 The world is trying to wean itself off American technologyGovernments are growing increasingly uneasy about their reliance on the US. (Rest of World) 8 AI’s sloppy writing is driving demand for real human writersLong may it continue. (Insider $) 9 This female-dominated fitness community hates Mark ZuckerbergHis decision to shut down three VR studios means their days of playing their favorite workout game are numbered. (The Verge)+ Welcome to the AI gym staffed by virtual trainers. (MIT Technology Review)10 This cemetery has an eco-friendly solution for its overcrowding problemIf you’re okay with your loved one becoming gardening soil, that is. (WSJ $)+ Why America is embracing the right to die now. (Economist $)+ What happens when you donate your body to science. (MIT Technology Review) Quote of the day
“In the long term, space-based AI is obviously the only way to scale…I mean, space is called ‘space’ for a reason.” —Elon Musk explains his rationale for combining SpaceX with xAI in a blog post.
One more thing On the ground in Ukraine’s largest Starlink repair shopStarlink is absolutely critical to Ukraine’s ability to continue in the fight against Russia. It’s how troops in battle zones stay connected with faraway HQs; it’s how many of the drones essential to Ukraine’s survival hit their targets; it’s even how soldiers stay in touch with spouses and children back home.However, Donald Trump’s fickle foreign policy and reports suggesting Elon Musk might remove Ukraine’s access to the services have cast the technology’s future in the country into doubt.For now Starlink access largely comes down to the unofficial community of users and engineers, including the expert “Dr. Starlink”—famous for his creative ways of customizing the systems—who have kept Ukraine in the fight, both on and off the front line. He gave MIT Technology Review exclusive access to his unofficial Starlink repair workshop in the city of Lviv. Read the full story. —Charlie Metcalfe We can still have nice things A place for comfort, fun and distraction to brighten up your day. (Got any ideas? Drop me a line or skeet ’em at me.) + The Norwegian countryside sure looks beautiful.+ Quick—it’s time to visit these food destinations before the TikTok hordes descend.+ Rest in power Catherine O’Hara, our favorite comedy queen.+ Take some time out of your busy day to read a potted history of boats 🚣

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USA Upstream M&A Regains Momentum

In a statement sent to Rigzone by the Enverus team recently, Enverus subsidiary Enverus Intelligence Research (EIR) said U.S. upstream M&A “regained momentum” in the fourth quarter of 2025. “After a midyear slowdown, U.S. upstream M&A regained momentum in 4Q25, closing with $23.5 billion in announced deals and pushing full-year 2025 activity to $65 billion,” EIR said in the statement. “The rebound reflects a deeper bench of motivated buyers including refunded private equity teams, increased use of securitized financing, and new international entrants all competing for scarce assets,” it added. A table included in the statement highlighted that the top five U.S. upstream deals of the fourth quarter comprised a deal between SM Energy and Civitas Resources for $7.691 billion, a deal between Harbour Energy and LLOG Holdings for $3.200 billion, a deal between Antero Resources and HG Energy II for $2.8 billion, a deal between an “undisclosed buyer” and Baytex Energy for $2.305 billion, and a deal between JERA and GEP Haynesville/Williams for $1.5 billion. “In the closing months of 2025 it looks like the market found its edge again even with fewer headline-making mega-mergers as it reached a faster pace of acquisitions and divestments,” Andrew Dittmar, principal analyst at EIR, said in the statement. “Fresh capital is back in the field, and the buyer mix has broadened in a way that keeps pricing firm. Reloaded private equity is hunting, ABS-backed groups are bidding aggressively for cash-flowing production, and international companies are no longer limiting their U.S. interest to the most obvious gas trades,” he added. “That combination helped deal activity finish the year in strong form and sets up an active 2026,” Dittmar continued. In the statement, EIR highlighted that international buyers accounted for roughly $6 billion of 4Q25 acquisitions, “underscoring a continued willingness to pay for exposure

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North America Adds 3 Rigs WoW

North America added three rigs week on week, according to Baker Hughes’ latest North America rotary rig count, which was published on January 30. The total U.S. rig count rose by two week on week and the total Canada rig count increased by one during the same period, pushing the total North America rig count up to 778, comprising 546 rigs from the U.S. and 232 rigs from Canada, the count outlined. Of the total U.S. rig count of 546, 529 rigs are categorized as land rigs, 14 are categorized as offshore rigs, and three are categorized as inland water rigs. The total U.S. rig count is made up of 411 oil rigs, 125 gas rigs, and 10 miscellaneous rigs, according to Baker Hughes’ count, which revealed that the U.S. total comprises 478 horizontal rigs, 53 directional rigs, and 15 vertical rigs. Week on week, the U.S. land rig count rose by three, its offshore rig count dropped by one, and its inland water rig count remained unchanged, Baker Hughes highlighted. The U.S. oil rig count remained unchanged on week, while its gas rig count increased by three and its miscellaneous rig count dropped by one, the count showed. The U.S. horizontal and vertical rig counts each increased by two week on week, and the country’s directional rig count dropped by two during the same period, the count revealed. A major state variances subcategory included in the rig count showed that, week on week, Oklahoma added three rigs, North Dakota, Louisiana, and Pennsylvania each added one rig, Texas dropped three rigs, and Ohio dropped one rig. A major basin variances subcategory included in the rig count showed that, week on week, the Cana Woodford basin added five rigs, the Arkoma Woodford, Haynesville, Marcellus, and Williston basins each added one rig,

Read More »

Iran Risk Hands Oil Algos Early Test

Algorithmic traders have racked up a third straight year of losses in oil, the longest slump on record, with hopes for a turnaround in 2026 facing an early test amid geopolitical volatility.   Price swings sparked by tariffs and wider upheaval from Iran to Ukraine last year starved market players known as commodity-trading advisers, or CTAs, of the clear directional signals they need to profit. The algorithmic traders suffered their longest annual losing streak last year in data going back to 2000, according to analytics firm Kpler. CTAs, which seize on trends, are notorious for amplifying price moves in either direction. For a brief period, conditions appeared to be tilting in their favor. Growing consensus that the oil market will be oversupplied gave CTAs a clear signal late last year, allowing them to eke out a rare positive quarter, according to analysts. That’s compared to much of the rest of 2025, as they struggled to grasp onto a trend amid the Trump administration’s unpredictable trade policy and conflicts in the Middle East.  The positive late-year momentum spurred CTAs to increase their presence in WTI’s front-month contract, according to Kpler, amplifying volatility and complicating market conditions for participants with physical exposure. The shift could be particularly consequential as geopolitical risks, like the threat of US strikes against Iran, trigger sharp price swings. “Choppy ranges, fake breakouts against the underlying fundamentals, signals that worked for about two days before reversing,” Cayler Capital, an oil-focused commodity trading adviser run by Brent Belote, wrote of last year’s trading environment in a letter to investors seen by Bloomberg. “This is the kind of market that exists solely to humble quants and annoy traders.” The turmoil led CTAs to change their position in US oil in roughly 80% of the weeks in 2025, according to data from Kpler. The

Read More »

UK Navy Says Ship Hailed by Armed Vessels in Hormuz

(Update) February 3, 2026, 4:42 PM GMT: Article updated with details of vessel involved. An oil tanker that’s part of a US-military fuel procurement program was hailed by small armed ships in the Strait of Hormuz off Iran’s coast on Tuesday, amid heightened tensions between the two countries.  The US-flagged Stena Imperative was hailed over radio while transiting the vital waterway, according to multiple maritime security companies, who declined to be named citing sensitive information. The tanker continued its planned route and didn’t divert, despite the requests, they said.  Iranian media said the country’s naval forces warned a vessel to leave Iranian territorial waters after failing to produce the necessary legal documents. The vessel departed immediately after the warning, Iran’s semi-official Fars News said. A spokesperson for Crowley, which manages the Stena Imperative, didn’t respond to multiple requests for comment. The vessel’s owner referred questions to Crowley. The incident, which was earlier reported by the UK’s naval liaison in the region, occurred in a part of the inbound maritime corridor into the Strait of Hormuz, the narrow chokepoint that allows ships to enter and exit the Persian Gulf and accounts for about a quarter of the world’s seaborne oil trade.  President Donald Trump last week threatened a fresh attack on Iran, heightening tensions between the two nations. He has since said talks between the two countries over a new nuclear deal could take place in the coming days. The ship is part of the US Tanker Security Program, which aims to ensure that the Department of Defense has access to a fleet of American-flagged fuel tankers at all times.  Iran has in the past both harassed and seized ships sailing near to its shores. Last year, it diverted a ship called the Talara to its waters, before unloading its cargo and releasing it. Late last week,

Read More »

Devon, Coterra Sign ‘Blockbuster’ Merger Deal

In a joint statement released Monday, Devon Energy and Coterra Energy announced the signing of a definitive agreement to merge in an all-stock transaction. The combination will create a “leading large-cap shale operator with a high-quality asset base anchored by a premier position in the economic core of the Delaware Basin”, according to the statement, which noted that the combined company will be named Devon Energy and will be headquartered in Houston, while maintaining a “significant presence” in Oklahoma City. “The formation of this premier company is expected to unlock substantial value by leveraging each company’s core strengths and through the realization of $1 billion in annual pre-tax synergies,” the statement said. “The realization of synergies, technology-driven capital efficiency gains, and optimized capital allocation will drive near and long-term per share growth,” it added. Under the terms of the deal, Coterra shareholders will receive a fixed exchange ratio of 0.70 share of Devon common stock for each share of Coterra common stock, the statement pointed out. “Based on Devon’s closing price on January 30, 2026, the transaction implies a combined enterprise value of approximately $58 billion,” the statement highlighted. “Upon completion, Devon shareholders will own approximately 54 percent of the go-forward company and Coterra shareholders will own approximately 46 percent on a fully diluted basis,” it added. The transaction was unanimously approved by the boards of directors of both companies, the statement revealed, adding that the deal is expected to close in the second quarter of 2026, subject to regulatory approvals and customary closing conditions, including approvals by Devon and Coterra shareholders. The joint statement noted that the merger will create “one of the world’s leading shale producers, with pro forma third quarter 2025 production exceeding 1.6 million barrels of oil equivalent per day, including over 550,000 barrels of oil

Read More »

The Download: squeezing more metal out of aging mines, and AI’s truth crisis

This is today’s edition of The Download, our weekday newsletter that provides a daily dose of what’s going on in the world of technology. Microbes could extract the metal needed for cleantech In a pine forest on Michigan’s Upper Peninsula, the only active nickel mine in the US is nearing the end of its life. At a time when carmakers want the metal for electric-vehicle batteries, nickel concentration at Eagle Mine is falling and could soon drop too low to warrant digging.Demand for nickel, copper, and rare earth elements is rapidly increasing amid the explosive growth of metal-intensive data centers, electric cars, and renewable energy projects. But producing these metals is becoming harder and more expensive because miners have already exploited the best resources. Here’s how biotechnology could help.—Matt Blois
What we’ve been getting wrong about AI’s truth crisis —James O’DonnellWhat would it take to convince you that the era of truth decay we were long warned about—where AI content dupes us, shapes our beliefs even when we catch the lie, and erodes societal trust in the process—is now here?A story I published last week pushed me over the edge. And it also made me realize that the tools we were sold as a cure for this crisis are failing miserably. Read the full story.This story originally appeared in The Algorithm, our weekly newsletter on AI. To get stories like this in your inbox first, sign up here.
TR10: Hyperscale AI data centers In sprawling stretches of farmland and industrial parks, supersized buildings packed with racks of computers are springing up to fuel the AI race.These engineering marvels are a new species of infrastructure: supercomputers designed to train and run large language models at mind-­bending scale, complete with their own specialized chips, cooling systems, and even energy supplies. But all that impressive computing power comes at a cost. Read why we’ve named hyperscale AI data centers as of our 10 Breakthrough Technologies this year, and check out the rest of the list. The must-reads I’ve combed the internet to find you today’s most fun/important/scary/fascinating stories about technology. 1 Elon Musk’s SpaceX has acquired xAIThe deal values the combined companies at a cool $1.25 trillion. (WSJ $)+ It also paves the way for SpaceX to offer an IPO later this year. (WP $)+ Meanwhile, OpenAI has accused xAI of destroying legal evidence. (Bloomberg $)

2 NASA has delayed the launch of Artemis IIIt’s been pushed back to March due to the discovery of a hydrogen leak. (Ars Technica)+ The rocket’s predecessor was also plagued by fuel leaks. (Scientific American) 3 Russia is hiring a guerilla youth army onlineThey’re committing arson and spying on targets across Europe. (New Yorker $)4 Grok is still generating undressed images of menWeeks after the backlash over it doing the same to women. (The Verge)+ How Grok descended into becoming a porn generator. (WP $)+ Inside the marketplace powering bespoke AI deepfakes of real women. (MIT Technology Review)5 OpenAI is searching for alternatives to Nvidia’s chipsIt’s reported to be unhappy about the speed at which it powers ChatGPT. (Reuters) 6 The latest attempt to study a notoriously unstable glacier has failedScientists lost their equipment within Antarctica’s Thwaites Glacier over the weekend. (NYT $)+ Inside a new quest to save the “doomsday glacier” (MIT Technology Review) 7 The world is trying to wean itself off American technologyGovernments are growing increasingly uneasy about their reliance on the US. (Rest of World) 8 AI’s sloppy writing is driving demand for real human writersLong may it continue. (Insider $) 9 This female-dominated fitness community hates Mark ZuckerbergHis decision to shut down three VR studios means their days of playing their favorite workout game are numbered. (The Verge)+ Welcome to the AI gym staffed by virtual trainers. (MIT Technology Review)10 This cemetery has an eco-friendly solution for its overcrowding problemIf you’re okay with your loved one becoming gardening soil, that is. (WSJ $)+ Why America is embracing the right to die now. (Economist $)+ What happens when you donate your body to science. (MIT Technology Review) Quote of the day
“In the long term, space-based AI is obviously the only way to scale…I mean, space is called ‘space’ for a reason.” —Elon Musk explains his rationale for combining SpaceX with xAI in a blog post.
One more thing On the ground in Ukraine’s largest Starlink repair shopStarlink is absolutely critical to Ukraine’s ability to continue in the fight against Russia. It’s how troops in battle zones stay connected with faraway HQs; it’s how many of the drones essential to Ukraine’s survival hit their targets; it’s even how soldiers stay in touch with spouses and children back home.However, Donald Trump’s fickle foreign policy and reports suggesting Elon Musk might remove Ukraine’s access to the services have cast the technology’s future in the country into doubt.For now Starlink access largely comes down to the unofficial community of users and engineers, including the expert “Dr. Starlink”—famous for his creative ways of customizing the systems—who have kept Ukraine in the fight, both on and off the front line. He gave MIT Technology Review exclusive access to his unofficial Starlink repair workshop in the city of Lviv. Read the full story. —Charlie Metcalfe We can still have nice things A place for comfort, fun and distraction to brighten up your day. (Got any ideas? Drop me a line or skeet ’em at me.) + The Norwegian countryside sure looks beautiful.+ Quick—it’s time to visit these food destinations before the TikTok hordes descend.+ Rest in power Catherine O’Hara, our favorite comedy queen.+ Take some time out of your busy day to read a potted history of boats 🚣

Read More »

USA Upstream M&A Regains Momentum

In a statement sent to Rigzone by the Enverus team recently, Enverus subsidiary Enverus Intelligence Research (EIR) said U.S. upstream M&A “regained momentum” in the fourth quarter of 2025. “After a midyear slowdown, U.S. upstream M&A regained momentum in 4Q25, closing with $23.5 billion in announced deals and pushing full-year 2025 activity to $65 billion,” EIR said in the statement. “The rebound reflects a deeper bench of motivated buyers including refunded private equity teams, increased use of securitized financing, and new international entrants all competing for scarce assets,” it added. A table included in the statement highlighted that the top five U.S. upstream deals of the fourth quarter comprised a deal between SM Energy and Civitas Resources for $7.691 billion, a deal between Harbour Energy and LLOG Holdings for $3.200 billion, a deal between Antero Resources and HG Energy II for $2.8 billion, a deal between an “undisclosed buyer” and Baytex Energy for $2.305 billion, and a deal between JERA and GEP Haynesville/Williams for $1.5 billion. “In the closing months of 2025 it looks like the market found its edge again even with fewer headline-making mega-mergers as it reached a faster pace of acquisitions and divestments,” Andrew Dittmar, principal analyst at EIR, said in the statement. “Fresh capital is back in the field, and the buyer mix has broadened in a way that keeps pricing firm. Reloaded private equity is hunting, ABS-backed groups are bidding aggressively for cash-flowing production, and international companies are no longer limiting their U.S. interest to the most obvious gas trades,” he added. “That combination helped deal activity finish the year in strong form and sets up an active 2026,” Dittmar continued. In the statement, EIR highlighted that international buyers accounted for roughly $6 billion of 4Q25 acquisitions, “underscoring a continued willingness to pay for exposure

Read More »

North America Adds 3 Rigs WoW

North America added three rigs week on week, according to Baker Hughes’ latest North America rotary rig count, which was published on January 30. The total U.S. rig count rose by two week on week and the total Canada rig count increased by one during the same period, pushing the total North America rig count up to 778, comprising 546 rigs from the U.S. and 232 rigs from Canada, the count outlined. Of the total U.S. rig count of 546, 529 rigs are categorized as land rigs, 14 are categorized as offshore rigs, and three are categorized as inland water rigs. The total U.S. rig count is made up of 411 oil rigs, 125 gas rigs, and 10 miscellaneous rigs, according to Baker Hughes’ count, which revealed that the U.S. total comprises 478 horizontal rigs, 53 directional rigs, and 15 vertical rigs. Week on week, the U.S. land rig count rose by three, its offshore rig count dropped by one, and its inland water rig count remained unchanged, Baker Hughes highlighted. The U.S. oil rig count remained unchanged on week, while its gas rig count increased by three and its miscellaneous rig count dropped by one, the count showed. The U.S. horizontal and vertical rig counts each increased by two week on week, and the country’s directional rig count dropped by two during the same period, the count revealed. A major state variances subcategory included in the rig count showed that, week on week, Oklahoma added three rigs, North Dakota, Louisiana, and Pennsylvania each added one rig, Texas dropped three rigs, and Ohio dropped one rig. A major basin variances subcategory included in the rig count showed that, week on week, the Cana Woodford basin added five rigs, the Arkoma Woodford, Haynesville, Marcellus, and Williston basins each added one rig,

Read More »

Trump Cuts India Tariffs

President Donald Trump said he would roll back punitive tariffs on India in return for an agreement that Prime Minister Narendra Modi would stop buying Russian oil, easing months of tension between the two countries. Following a phone call with Modi, Trump said on social media that he would cut a US levy on Indian goods to 18% from 25%. The US president is also removing an extra punitive 25% duty applied in response to India’s purchases of crude from Russia, according to officials familiar with the matter. India would “move forward to reduce their Tariffs and Non Tariff Barriers against the United States, to ZERO”, Trump wrote, as well as purchase “over $500 BILLION DOLLARS of U.S. Energy, Technology, Agricultural, Coal, and many other products.”  Modi confirmed the pact, posting on social media that “Made in India products will now have a reduced tariff of 18%.” He did not provide further details on oil or on agricultural imports, a major sticking point for New Delhi. Wonderful to speak with my dear friend President Trump today. Delighted that Made in India products will now have a reduced tariff of 18%. Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement. When two large economies and the… — Narendra Modi (@narendramodi) February 2, 2026 India has not traditionally been an importer of Russian crude, but emerged as a key buyer in the aftermath of Moscow’s 2022 invasion of Ukraine, as trade flows were upended and discounts became attractive. The Trump administration’s efforts to choke off Russia’s flows to India have slowed shipments, but not halted them. In October, Trump also announced Modi had agreed to cease purchases of Russian oil. Without a firm trade deal in place, though, Indian refiners continued to buy cheap crude from Moscow. Later

Read More »

Devon, Coterra Sign ‘Blockbuster’ Merger Deal

In a joint statement released Monday, Devon Energy and Coterra Energy announced the signing of a definitive agreement to merge in an all-stock transaction. The combination will create a “leading large-cap shale operator with a high-quality asset base anchored by a premier position in the economic core of the Delaware Basin”, according to the statement, which noted that the combined company will be named Devon Energy and will be headquartered in Houston, while maintaining a “significant presence” in Oklahoma City. “The formation of this premier company is expected to unlock substantial value by leveraging each company’s core strengths and through the realization of $1 billion in annual pre-tax synergies,” the statement said. “The realization of synergies, technology-driven capital efficiency gains, and optimized capital allocation will drive near and long-term per share growth,” it added. Under the terms of the deal, Coterra shareholders will receive a fixed exchange ratio of 0.70 share of Devon common stock for each share of Coterra common stock, the statement pointed out. “Based on Devon’s closing price on January 30, 2026, the transaction implies a combined enterprise value of approximately $58 billion,” the statement highlighted. “Upon completion, Devon shareholders will own approximately 54 percent of the go-forward company and Coterra shareholders will own approximately 46 percent on a fully diluted basis,” it added. The transaction was unanimously approved by the boards of directors of both companies, the statement revealed, adding that the deal is expected to close in the second quarter of 2026, subject to regulatory approvals and customary closing conditions, including approvals by Devon and Coterra shareholders. The joint statement noted that the merger will create “one of the world’s leading shale producers, with pro forma third quarter 2025 production exceeding 1.6 million barrels of oil equivalent per day, including over 550,000 barrels of oil

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USA Upstream M&A Regains Momentum

In a statement sent to Rigzone by the Enverus team recently, Enverus subsidiary Enverus Intelligence Research (EIR) said U.S. upstream M&A “regained momentum” in the fourth quarter of 2025. “After a midyear slowdown, U.S. upstream M&A regained momentum in 4Q25, closing with $23.5 billion in announced deals and pushing full-year 2025 activity to $65 billion,” EIR said in the statement. “The rebound reflects a deeper bench of motivated buyers including refunded private equity teams, increased use of securitized financing, and new international entrants all competing for scarce assets,” it added. A table included in the statement highlighted that the top five U.S. upstream deals of the fourth quarter comprised a deal between SM Energy and Civitas Resources for $7.691 billion, a deal between Harbour Energy and LLOG Holdings for $3.200 billion, a deal between Antero Resources and HG Energy II for $2.8 billion, a deal between an “undisclosed buyer” and Baytex Energy for $2.305 billion, and a deal between JERA and GEP Haynesville/Williams for $1.5 billion. “In the closing months of 2025 it looks like the market found its edge again even with fewer headline-making mega-mergers as it reached a faster pace of acquisitions and divestments,” Andrew Dittmar, principal analyst at EIR, said in the statement. “Fresh capital is back in the field, and the buyer mix has broadened in a way that keeps pricing firm. Reloaded private equity is hunting, ABS-backed groups are bidding aggressively for cash-flowing production, and international companies are no longer limiting their U.S. interest to the most obvious gas trades,” he added. “That combination helped deal activity finish the year in strong form and sets up an active 2026,” Dittmar continued. In the statement, EIR highlighted that international buyers accounted for roughly $6 billion of 4Q25 acquisitions, “underscoring a continued willingness to pay for exposure

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North America Adds 3 Rigs WoW

North America added three rigs week on week, according to Baker Hughes’ latest North America rotary rig count, which was published on January 30. The total U.S. rig count rose by two week on week and the total Canada rig count increased by one during the same period, pushing the total North America rig count up to 778, comprising 546 rigs from the U.S. and 232 rigs from Canada, the count outlined. Of the total U.S. rig count of 546, 529 rigs are categorized as land rigs, 14 are categorized as offshore rigs, and three are categorized as inland water rigs. The total U.S. rig count is made up of 411 oil rigs, 125 gas rigs, and 10 miscellaneous rigs, according to Baker Hughes’ count, which revealed that the U.S. total comprises 478 horizontal rigs, 53 directional rigs, and 15 vertical rigs. Week on week, the U.S. land rig count rose by three, its offshore rig count dropped by one, and its inland water rig count remained unchanged, Baker Hughes highlighted. The U.S. oil rig count remained unchanged on week, while its gas rig count increased by three and its miscellaneous rig count dropped by one, the count showed. The U.S. horizontal and vertical rig counts each increased by two week on week, and the country’s directional rig count dropped by two during the same period, the count revealed. A major state variances subcategory included in the rig count showed that, week on week, Oklahoma added three rigs, North Dakota, Louisiana, and Pennsylvania each added one rig, Texas dropped three rigs, and Ohio dropped one rig. A major basin variances subcategory included in the rig count showed that, week on week, the Cana Woodford basin added five rigs, the Arkoma Woodford, Haynesville, Marcellus, and Williston basins each added one rig,

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Trump Eyes Iran Nuclear Deal

(Update) February 2, 2026, 10:23 PM GMT: Article updated. US President Donald Trump said he anticipated talks with Iran over a new nuclear deal in the coming days, building on a flurry of diplomatic activity aimed at averting war between the two countries.  “We have ships heading to Iran right now, big ones, biggest and the best, and we have talks going on with Iran,” Trump told reporters Monday in the Oval Office.  “If we can work something out that’d be great, and if we can’t, probably bad things would happen,” he continued. Iranian President Masoud Pezeshkian ordered the start of negotiations with Washington “within the framework of the nuclear issue,” Iran’s semi-official Fars news service reported Monday, citing a government source. Talks could include senior officials from both countries such as US envoy Steve Witkoff and Iranian Foreign Minister Abbas Araghchi, the Tasnim news service said, citing a source it didn’t identify. “We’re ready for diplomacy, but they must understand that diplomacy is not compatible with threats, intimidation or pressure,” Araghchi said on state TV. “We will remain steadfast on this path and hope to see its results soon.” Multiple countries in the Middle East have been acting as intermediaries between Tehran and Washington, according to Esmail Baghaei, a spokesman for Iran’s foreign ministry. No time or location for an initial meeting has been set, Tasnim said, while details of what would be discussed remain unclear, such as whether the US would push for the Islamic Republic to end uranium enrichment.   Iran’s priority in new talks will be sanctions relief and Tehran is “realistic” in its approach, Baghaei said. The developments underline the international effort to ease Middle East tensions as Trump threatens Iran with military action if it doesn’t reach an agreement to curb its nuclear program.

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Major LNG Players Skip Qatar Conference

Some of the liquefied natural gas industry’s biggest companies are skipping a key conference in Qatar due to fears that simmering US-Iran tensions could still erupt into a regional conflict. Several buyers from Japan — the world’s second largest LNG importer — are opting not to take part because of safety concerns. Tokyo Gas Co. decided not to attend, according to the company spokesperson on Monday. Osaka Gas Co. and Saibu Gas Holdings Co. made the same decision for similar reasons, company spokespeople said. US President Donald Trump said he anticipates talks with Iran in the coming days, while Iranian leader Masoud Pezeshkian ordered negotiations with Washington to begin “within the framework of the nuclear issue.” Washington has warned of possible military action if Tehran fails to reach an agreement to curb its nuclear program. The LNG 2026 gathering is scheduled to run through Feb. 5, with about 16,000 trade visitors and 4,000 conference delegates, according to the event’s website. Speakers include Global Chief Executive Officer and Chair of Jera Co. Yukio Kani, President of QatarEnergy Saad Bin Sherida Al-Kaabi and executives from oil majors like ExxonMobil Corp., Shell Plc and ConocoPhillips. Several European LNG importers, along with at least one supplier, will also skip the conference or have opted to send smaller delegations, according to people with knowledge of the matter. Commonwealth LNG, which is developing a US export project, canceled its reception during the conference and cut back on its delegates, the people said, who asked not to be named as they aren’t authorized to speak to the media. The company declined to comment. Venture Global Inc., a major US LNG supplier, will have a reduced presence at the conference “due to security concerns in the region and out of an abundance of caution,” it said in a statement. Japan’s biggest utility

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LG rolls out new AI services to help consumers with daily tasks

Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More LG kicked off the AI bandwagon today with a new set of AI services to help consumers in their daily tasks at home, in the car and in the office. The aim of LG’s CES 2025 press event was to show how AI will work in a day of someone’s life, with the goal of redefining the concept of space, said William Joowan Cho, CEO of LG Electronics at the event. The presentation showed LG is fully focused on bringing AI into just about all of its products and services. Cho referred to LG’s AI efforts as “affectionate intelligence,” and he said it stands out from other strategies with its human-centered focus. The strategy focuses on three things: connected devices, capable AI agents and integrated services. One of things the company announced was a strategic partnership with Microsoft on AI innovation, where the companies pledged to join forces to shape the future of AI-powered spaces. One of the outcomes is that Microsoft’s Xbox Ultimate Game Pass will appear via Xbox Cloud on LG’s TVs, helping LG catch up with Samsung in offering cloud gaming natively on its TVs. LG Electronics will bring the Xbox App to select LG smart TVs. That means players with LG Smart TVs will be able to explore the Gaming Portal for direct access to hundreds of games in the Game Pass Ultimate catalog, including popular titles such as Call of Duty: Black Ops 6, and upcoming releases like Avowed (launching February 18, 2025). Xbox Game Pass Ultimate members will be able to play games directly from the Xbox app on select LG Smart TVs through cloud gaming. With Xbox Game Pass Ultimate and a compatible Bluetooth-enabled

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Big tech must stop passing the cost of its spiking energy needs onto the public

Julianne Malveaux is an MIT-educated economist, author, educator and political commentator who has written extensively about the critical relationship between public policy, corporate accountability and social equity.  The rapid expansion of data centers across the U.S. is not only reshaping the digital economy but also threatening to overwhelm our energy infrastructure. These data centers aren’t just heavy on processing power — they’re heavy on our shared energy infrastructure. For Americans, this could mean serious sticker shock when it comes to their energy bills. Across the country, many households are already feeling the pinch as utilities ramp up investments in costly new infrastructure to power these data centers. With costs almost certain to rise as more data centers come online, state policymakers and energy companies must act now to protect consumers. We need new policies that ensure the cost of these projects is carried by the wealthy big tech companies that profit from them, not by regular energy consumers such as family households and small businesses. According to an analysis from consulting firm Bain & Co., data centers could require more than $2 trillion in new energy resources globally, with U.S. demand alone potentially outpacing supply in the next few years. This unprecedented growth is fueled by the expansion of generative AI, cloud computing and other tech innovations that require massive computing power. Bain’s analysis warns that, to meet this energy demand, U.S. utilities may need to boost annual generation capacity by as much as 26% by 2028 — a staggering jump compared to the 5% yearly increases of the past two decades. This poses a threat to energy affordability and reliability for millions of Americans. Bain’s research estimates that capital investments required to meet data center needs could incrementally raise consumer bills by 1% each year through 2032. That increase may

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Final 45V hydrogen tax credit guidance draws mixed response

Dive Brief: The final rule for the 45V clean hydrogen production tax credit, which the U.S. Treasury Department released Friday morning, drew mixed responses from industry leaders and environmentalists. Clean hydrogen development within the U.S. ground to a halt following the release of the initial guidance in December 2023, leading industry participants to call for revisions that would enable more projects to qualify for the tax credit. While the final rule makes “significant improvements” to Treasury’s initial proposal, the guidelines remain “extremely complex,” according to the Fuel Cell and Hydrogen Energy Association. FCHEA President and CEO Frank Wolak and other industry leaders said they look forward to working with the Trump administration to refine the rule. Dive Insight: Friday’s release closed what Wolak described as a “long chapter” for the hydrogen industry. But industry reaction to the final rule was decidedly mixed, and it remains to be seen whether the rule — which could be overturned as soon as Trump assumes office — will remain unchanged. “The final 45V rule falls short,” Marty Durbin, president of the U.S. Chamber’s Global Energy Institute, said in a statement. “While the rule provides some of the additional flexibility we sought, … we believe that it still will leave billions of dollars of announced projects in limbo. The incoming Administration will have an opportunity to improve the 45V rules to ensure the industry will attract the investments necessary to scale the hydrogen economy and help the U.S. lead the world in clean manufacturing.” But others in the industry felt the rule would be sufficient for ending hydrogen’s year-long malaise. “With this added clarity, many projects that have been delayed may move forward, which can help unlock billions of dollars in investments across the country,” Kim Hedegaard, CEO of Topsoe’s Power-to-X, said in a statement. Topsoe

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Texas, Utah, Last Energy challenge NRC’s ‘overburdensome’ microreactor regulations

Dive Brief: A 69-year-old Nuclear Regulatory Commission rule underpinning U.S. nuclear reactor licensing exceeds the agency’s statutory authority and creates an unreasonable burden for microreactor developers, the states of Texas and Utah and advanced nuclear technology company Last Energy said in a lawsuit filed Dec. 30 in federal court in Texas. The plaintiffs asked the Eastern District of Texas court to exempt Last Energy’s 20-MW reactor design and research reactors located in the plaintiff states from the NRC’s definition of nuclear “utilization facilities,” which subjects all U.S. commercial and research reactors to strict regulatory scrutiny, and order the NRC to develop a more flexible definition for use in future licensing proceedings. Regardless of its merits, the lawsuit underscores the need for “continued discussion around proportional regulatory requirements … that align with the hazards of the reactor and correspond to a safety case,” said Patrick White, research director at the Nuclear Innovation Alliance. Dive Insight: Only three commercial nuclear reactors have been built in the United States in the past 28 years, and none are presently under construction, according to a World Nuclear Association tracker cited in the lawsuit. “Building a new commercial reactor of any size in the United States has become virtually impossible,” the plaintiffs said. “The root cause is not lack of demand or technology — but rather the [NRC], which, despite its name, does not really regulate new nuclear reactor construction so much as ensure that it almost never happens.” More than a dozen advanced nuclear technology developers have engaged the NRC in pre-application activities, which the agency says help standardize the content of advanced reactor applications and expedite NRC review. Last Energy is not among them.  The pre-application process can itself stretch for years and must be followed by a formal application that can take two

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Qualcomm unveils AI chips for PCs, cars, smart homes and enterprises

Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More Qualcomm unveiled AI technologies and collaborations for PCs, cars, smart homes and enterprises at CES 2025. At the big tech trade show in Las Vegas, Qualcomm Technologies showed how it’s using AI capabilities in its chips to drive the transformation of user experiences across diverse device categories, including PCs, automobiles, smart homes and into enterprises. The company unveiled the Snapdragon X platform, the fourth platform in its high-performance PC portfolio, the Snapdragon X Series, bringing industry-leading performance, multi-day battery life, and AI leadership to more of the Windows ecosystem. Qualcomm has talked about how its processors are making headway grabbing share from the x86-based AMD and Intel rivals through better efficiency. Qualcomm’s neural processing unit gets about 45 TOPS, a key benchmark for AI PCs. The Snapdragon X family of AI PC processors. Additionally, Qualcomm Technologies showcased continued traction of the Snapdragon X Series, with over 60 designs in production or development and more than 100 expected by 2026. Snapdragon for vehicles Qualcomm demoed chips that are expanding its automotive collaborations. It is working with Alpine, Amazon, Leapmotor, Mobis, Royal Enfield, and Sony Honda Mobility, who look to Snapdragon Digital Chassis solutions to drive AI-powered in-cabin and advanced driver assistance systems (ADAS). Qualcomm also announced continued traction for its Snapdragon Elite-tier platforms for automotive, highlighting its work with Desay, Garmin, and Panasonic for Snapdragon Cockpit Elite. Throughout the show, Qualcomm will highlight its holistic approach to improving comfort and focusing on safety with demonstrations on the potential of the convergence of AI, multimodal contextual awareness, and cloudbased services. Attendees will also get a first glimpse of the new Snapdragon Ride Platform with integrated automated driving software stack and system definition jointly

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Oil, Gas Execs Reveal Where They Expect WTI Oil Price to Land in the Future

Executives from oil and gas firms have revealed where they expect the West Texas Intermediate (WTI) crude oil price to be at various points in the future as part of the fourth quarter Dallas Fed Energy Survey, which was released recently. The average response executives from 131 oil and gas firms gave when asked what they expect the WTI crude oil price to be at the end of 2025 was $71.13 per barrel, the survey showed. The low forecast came in at $53 per barrel, the high forecast was $100 per barrel, and the spot price during the survey was $70.66 per barrel, the survey pointed out. This question was not asked in the previous Dallas Fed Energy Survey, which was released in the third quarter. That survey asked participants what they expect the WTI crude oil price to be at the end of 2024. Executives from 134 oil and gas firms answered this question, offering an average response of $72.66 per barrel, that survey showed. The latest Dallas Fed Energy Survey also asked participants where they expect WTI prices to be in six months, one year, two years, and five years. Executives from 124 oil and gas firms answered this question and gave a mean response of $69 per barrel for the six month mark, $71 per barrel for the year mark, $74 per barrel for the two year mark, and $80 per barrel for the five year mark, the survey showed. Executives from 119 oil and gas firms answered this question in the third quarter Dallas Fed Energy Survey and gave a mean response of $73 per barrel for the six month mark, $76 per barrel for the year mark, $81 per barrel for the two year mark, and $87 per barrel for the five year mark, that

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Inside the marketplace powering bespoke AI deepfakes of real women

Civitai—an online marketplace for buying and selling AI-generated content, backed by the venture capital firm Andreessen Horowitz—is letting users buy custom instruction files for generating celebrity deepfakes. Some of these files were specifically designed to make pornographic images banned by the site, a new analysis has found. The study, from researchers at Stanford and Indiana University, looked at people’s requests for content on the site, called “bounties.” The researchers found that between mid-2023 and the end of 2024, most bounties asked for animated content—but a significant portion were for deepfakes of real people, and 90% of these deepfake requests targeted women. (Their findings have not yet been peer reviewed.) The debate around deepfakes, as illustrated by the recent backlash to explicit images on the X-owned chatbot Grok, has revolved around what platforms should do to block such content. Civitai’s situation is a little more complicated. Its marketplace includes actual images, videos, and models, but it also lets individuals buy and sell instruction files called LoRAs that can coach mainstream AI models like Stable Diffusion into generating content they were not trained to produce. Users can then combine these files with other tools to make deepfakes that are graphic or sexual. The researchers found that 86% of deepfake requests on Civitai were for LoRAs. In these bounties, users requested “high quality” models to generate images of public figures like the influencer Charli D’Amelio or the singer Gracie Abrams, often linking to their social media profiles so their images could be grabbed from the web. Some requests specified a desire for models that generated the individual’s entire body, accurately captured their tattoos, or allowed hair color to be changed. Some requests targeted several women in specific niches, like artists who record ASMR videos. One request was for a deepfake of a woman said to be the user’s wife. Anyone on the site could offer up AI models they worked on for the task, and the best submissions received payment—anywhere from $0.50 to $5. And nearly 92% of the deepfake bounties were awarded.
Neither Civitai nor Andreessen Horowitz responded to requests for comment. It’s possible that people buy these LoRAs to make deepfakes that aren’t sexually explicit (though they’d still violate Civitai’s terms of use, and they’d still be ethically fraught). But Civitai also offers educational resources on how to use external tools to further customize the outputs of image generators—for example, by changing someone’s pose. The site also hosts user-written articles with details on how to instruct models to generate pornography. The researchers found that the amount of porn on the platform has gone up, and that the majority of requests each week are now for NSFW content.
“Not only does Civitai provide the infrastructure that facilitates these issues; they also explicitly teach their users how to utilize them,” says Matthew DeVerna, a postdoctoral researcher at Stanford’s Cyber Policy Center and one of the study’s leaders.  The company used to ban only sexually explicit deepfakes of real people, but in May 2025 it announced it would ban all deepfake content. Nonetheless, countless requests for deepfakes submitted before this ban now remain live on the site, and many of the winning submissions fulfilling those requests remain available for purchase, MIT Technology Review confirmed. “I believe the approach that they’re trying to take is to sort of do as little as possible, such that they can foster as much—I guess they would call it—creativity on the platform,” DeVerna says. Users buy LoRAs with the site’s online currency, called Buzz, which is purchased with real money. In May 2025, Civita’s credit card processor cut off the company because of its ongoing problem with nonconsensual content. To pay for explicit content, users must now use gift cards or cryptocurrency to buy Buzz; the company offers a different scrip for non-explicit content.  Civitai automatically tags bounties requesting deepfakes and lists a way for the person featured in the content to manually request its takedown. This system means that Civitai has a reasonably successful way of knowing which bounties are for deepfakes, but it’s still leaving moderation to the general public rather than carrying it out proactively.  A company’s legal liability for what its users do isn’t totally clear. Generally, tech companies have broad legal protections against such liability for their content under Section 230 of the Communications Decency Act, but those protections aren’t limitless. For example, “you cannot knowingly facilitate illegal transactions on your website,” says Ryan Calo, a professor specializing in technology and AI at the University of Washington’s law school. (Calo wasn’t involved in this new study.) Civitai joined OpenAI, Anthropic, and other AI companies in 2024 in adopting design principles to guard against the creation and spread of AI-generated child sexual abuse material . This move followed a 2023 report from the Stanford Internet Observatory, which found that the vast majority of AI models named in child sexual abuse communities were Stable Diffusion–based models “predominantly obtained via Civitai.” But adult deepfakes have not gotten the same level of attention from content platforms or the venture capital firms that fund them. “They are not afraid enough of it. They are overly tolerant of it,” Calo says. “Neither law enforcement nor civil courts adequately protect against it. It is night and day.” Civitai received a $5 million investment from Andreessen Horowitz (a16z) in November 2023. In a video shared by a16z, Civitai cofounder and CEO Justin Maier described his goal of building the main place where people find and share AI models for their own individual purposes. “We’ve aimed to make this space that’s been very, I guess, niche and engineering-heavy more and more approachable to more and more people,” he said.  Civitai is not the only company with a deepfake problem in a16z’s investment portfolio; in February, MIT Technology Review first reported that another company, Botify AI, was hosting AI companions resembling real actors that stated their age as under 18, engaged in sexually charged conversations, offered “hot photos,” and in some instances described age-of-consent laws as “arbitrary” and “meant to be broken.”

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The Download: US immigration agencies’ AI videos, and inside the Vitalism movement

This is today’s edition of The Download, our weekday newsletter that provides a daily dose of what’s going on in the world of technology. DHS is using Google and Adobe AI to make videos The news: The US Department of Homeland Security is using AI video generators from Google and Adobe to make and edit content shared with the public, a new document reveals. The document, released on Wednesday, provides an inventory of which commercial AI tools DHS uses for tasks ranging from generating drafts of documents to managing cybersecurity. Why it matters: It comes as immigration agencies have flooded social media with content to support President Trump’s mass deportation agenda—some of which appears to be made with AI—and as workers in tech have put pressure on their employers to denounce the agencies’ activities. Read the full story.—James O’Donnell
How the sometimes-weird world of lifespan extension is gaining influence
—Jessica HamzelouFor the last couple of years, I’ve been following the progress of a group of individuals who believe death is humanity’s “core problem.” Put simply, they say death is wrong—for everyone. They’ve even said it’s morally wrong. They established what they consider a new philosophy, and they called it Vitalism.Vitalism is more than a philosophy, though—it’s a movement for hardcore longevity enthusiasts who want to make real progress in finding treatments that slow or reverse aging. Not just through scientific advances, but by persuading influential people to support their movement, and by changing laws and policies to open up access to experimental drugs. And they’re starting to make progress. This article first appeared in The Checkup, MIT Technology Review’s weekly biotech newsletter. To receive it in your inbox every Thursday, and read articles like this first, sign up here. The AI Hype Index: Grok makes porn, and Claude Code nails your job Separating AI reality from hyped-up fiction isn’t always easy. That’s why we’ve created the AI Hype Index—a simple, at-a-glance summary of everything you need to know about the state of the industry. Take a look at this month’s edition of the index here. The must-reads

I’ve combed the internet to find you today’s most fun/important/scary/fascinating stories about technology. 1 Capgemini is no longer tracking immigrants for ICEAfter the French company was queried by the country’s government over the contract. (WP $)+ Here’s how the agency typically keeps tabs on its targets. (NYT $)+ US senators are pushing for answers about its recent surveillance shopping spree. (404 Media)+ ICE’s tactics would get real soldiers killed, apparently. (Wired $) 2 The Pentagon is at loggerheads with AnthropicThe AI firm is reportedly worried its tools could be used to spy on Americans. (Reuters)+ Generative AI is learning to spy for the US military. (MIT Technology Review) 3 It’s relatively rare for AI chatbots to lead users down harmful pathsBut when it does, it can have incredibly dangerous consequences. (Ars Technica)+ The AI doomers feel undeterred. (MIT Technology Review)4 GPT-4o’s days are numberedOpenAI says just 0.1% of users are using the model every day. (CNBC)+ It’s the second time that it’s tried to turn the sycophantic model off in under a year. (Insider $)+ Why GPT-4o’s sudden shutdown left people grieving. (MIT Technology Review)5 An AI toy company left its chats with kids exposedAnyone with a Gmail account was able to simply access the conversations—no hacking required. (Wired $)+ AI toys are all the rage in China—and now they’re appearing on shelves in the US too. (MIT Technology Review)6 SpaceX could merge with xAI later this yearAhead of a planned blockbuster IPO of Elon Musk’s companies. (Reuters)+ The move would be welcome news for Musk fans. (The Information $)+ A SpaceX-Tesla merger could also be on the cards. (Bloomberg $) 7 We’re still waiting for a reliable male contraceptiveTake a look at the most promising methods so far. (Bloomberg $) 8 AI is bringing traditional Chinese medicine to the massesAnd it’s got the full backing of the country’s government. (Rest of World) 9 The race back to the Moon is heating up Competition between the US and China is more intense than ever. (Economist $)10 What did the past really smell like?AI could help scientists to recreate history’s aromas—including mummies and battlefields. (Knowable Magazine)
Quote of the day “I think the tidal wave is coming and we’re all standing on the beach.”
—Bill Zysblat, a music business manager, tells the Financial Times about the existential threat AI poses to the industry.  One more thing Therapists are secretly using ChatGPT. Clients are triggered.Declan would never have found out his therapist was using ChatGPT had it not been for a technical mishap. The connection was patchy during one of their online sessions, so Declan suggested they turn off their video feeds. Instead, his therapist began inadvertently sharing his screen.For the rest of the session, Declan was privy to a real-time stream of ChatGPT analysis rippling across his therapist’s screen, who was taking what Declan was saying, putting it into ChatGPT, and then parroting its answers.But Declan is not alone. In fact, a growing number of people are reporting receiving AI-generated communiqués from their therapists. Clients’ trust and privacy are being abandoned in the process. Read the full story. —Laurie Clarke
We can still have nice things A place for comfort, fun and distraction to brighten up your day. (Got any ideas? Drop me a line or skeet ’em at me.) + Sinkholes are seriously mysterious. Is there a way to stay one step ahead of them?+ This beautiful pixel art is super impressive.+ Amid the upheaval in their city, residents of Minneapolis recently demonstrated both their resistance and community spirit in the annual Art Sled Rally (thanks Paul!)+ How on Earth is Tomb Raider 30 years old?!

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How the sometimes-weird world of lifespan extension is gaining influence

For the last couple of years, I’ve been following the progress of a group of individuals who believe death is humanity’s “core problem.” Put simply, they say death is wrong—for everyone. They’ve even said it’s morally wrong. They established what they consider a new philosophy, and they called it Vitalism. Vitalism is more than a philosophy, though—it’s a movement for hardcore longevity enthusiasts who want to make real progress in finding treatments that slow or reverse aging. Not just through scientific advances, but by persuading influential people to support their movement, and by changing laws and policies to open up access to experimental drugs. And they’re starting to make progress.
Vitalism was founded by Adam Gries and Nathan Cheng—two men who united over their shared desire to find ways to extend human lifespan. I first saw Cheng speak back in 2023, at Zuzalu, a pop-up city in Montenegro for people who were interested in life extension and some other technologies. (It was an interesting experience—you can read more about it here.) Zuzalu was where Gries and Cheng officially launched Vitalism. But I’ve been closely following the longevity scene since 2022. That journey took me to Switzerland, Honduras, and a compound in Berkeley, California, where like-minded longevity enthusiasts shared their dreams of life extension.
It also took me to Washington, DC, where, last year, supporters of lifespan extension presented politicians including Mehmet Oz, who currently leads the Centers for Medicare & Medicaid Services, with their case for changes to laws and policies. The journey has been fascinating, and at times weird and even surreal. I’ve heard biohacking stories that ended with smoking legs. I’ve been told about a multi-partner relationship that might be made possible through the cryopreservation—and subsequent reanimation—of a man and the multiple wives he’s had throughout his life. I’ve had people tell me to my face that they consider themselves eugenicists, and that they believe that parents should select IVF embryos for their propensity for a long life. I’ve seen people draw blood during dinner in an upscale hotel restaurant to test their biological age. I’ve heard wild plans to preserve human consciousness and resurrect it in machines. Others have told me their plans to inject men’s penises with multiple doses of an experimental gene therapy in order to treat erectile dysfunction and ultimately achieve “radical longevity.” I’ve been shouted at and threatened with legal action. I’ve received barefoot hugs. One interviewee told me I needed Botox. It’s been a ride. My reporting has also made me realize that the current interest in longevity reaches beyond social media influencers and wellness centers. Longevity clinics are growing in number, and there’s been a glut of documentaries about living longer or even forever. At the same time, powerful people who influence state laws, giant federal funding budgets, and even national health policy are prioritizing the search for treatments that slow or reverse aging. The longevity community was thrilled when longtime supporter Jim O’Neill was made deputy secretary of health and human services last year. Other members of Trump’s administration, including Oz, have spoken about longevity too. “It seems that now there is the most pro-longevity administration in American history,” Gries told me. I recently spoke to Alicia Jackson, the new director of ARPA-H. The agency, established in 2022 under Joe Biden’s presidency, funds “breakthrough” biomedical research. And it appears to have a new focus on longevity. Jackson previously founded and led Evernow, a company focused on “health and longevity for every woman.” “There’s a lot of interesting technologies, but they all kind of come back to the same thing: Could we extend life years?” she told me over a Zoom call a few weeks ago. She added that her agency had “incredible support” from “the very top of HHS.” I asked if she was referring to Jim O’Neill. “Yeah,” she said. She wouldn’t go into the specifics.

Gries is right: There is a lot of support for advances in longevity treatments, and some of it is coming from influential people in positions of power. Perhaps the field really is poised for a breakthrough. And that’s what makes this field so fascinating to cover. Despite the occasional weirdness. This article first appeared in The Checkup, MIT Technology Review’s weekly biotech newsletter. To receive it in your inbox every Thursday, and read articles like this first, sign up here.

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Strengthening our Frontier Safety Framework

We’re expanding our risk domains and refining our risk assessment process.AI breakthroughs are transforming our everyday lives, from advancing mathematics, biology and astronomy to realizing the potential of personalized education. As we build increasingly powerful AI models, we’re committed to responsibly developing our technologies and taking an evidence-based approach to staying ahead of emerging risks.Today, we’re publishing the third iteration of our Frontier Safety Framework (FSF) — our most comprehensive approach yet to identifying and mitigating severe risks from advanced AI models.This update builds upon our ongoing collaborations with experts across industry, academia and government. We’ve also incorporated lessons learned from implementing previous versions and evolving best practices in frontier AI safety.Key updates to the FrameworkAddressing the risks of harmful manipulationWith this update, we’re introducing a Critical Capability Level (CCL)* focused on harmful manipulation — specifically, AI models with powerful manipulative capabilities that could be misused to systematically and substantially change beliefs and behaviors in identified high stakes contexts over the course of interactions with the model, reasonably resulting in additional expected harm at severe scale.This addition builds on and operationalizes research we’ve done to identify and evaluate mechanisms that drive manipulation from generative AI. Going forward, we’ll continue to invest in this domain to better understand and measure the risks associated with harmful manipulation.Adapting our approach to misalignment risksWe’ve also expanded our Framework to address potential future scenarios where misaligned AI models might interfere with operators’ ability to direct, modify or shut down their operations.While our previous version of the Framework included an exploratory approach centered on instrumental reasoning CCLs (i.e., warning levels specific to when an AI model starts to think deceptively), with this update we now provide further protocols for our machine learning research and development CCLs focused on models that could accelerate AI research and development to potentially destabilizing levels.In addition to the misuse risks arising from these capabilities, there are also misalignment risks stemming from a model’s potential for undirected action at these capability levels, and the likely integration of such models into AI development and deployment processes.To address risks posed by CCLs, we conduct safety case reviews prior to external launches when relevant CCLs are reached. This involves performing detailed analyses demonstrating how risks have been reduced to manageable levels. For advanced machine learning research and development CCLs, large-scale internal deployments can also pose risk, so we are now expanding this approach to include such deployments.Sharpening our risk assessment processOur Framework is designed to address risks in proportion to their severity. We’ve sharpened our CCL definitions specifically to identify the critical threats that warrant the most rigorous governance and mitigation strategies. We continue to apply safety and security mitigations before specific CCL thresholds are reached and as part of our standard model development approach.Lastly, in this update, we go into more detail about our risk assessment process. Building on our core early-warning evaluations, we describe how we conduct holistic assessments that include systematic risk identification, comprehensive analyses of model capabilities and explicit determinations of risk acceptability.Advancing our commitment to frontier safetyThis latest update to our Frontier Safety Framework represents our continued commitment to taking a scientific and evidence-based approach to tracking and staying ahead of AI risks as capabilities advance toward AGI. By expanding our risk domains and strengthening our risk assessment processes, we aim to ensure that transformative AI benefits humanity, while minimizing potential harms.Our Framework will continue evolving based on new research, stakeholder input and lessons from implementation. We remain committed to working collaboratively across industry, academia and government.The path to beneficial AGI requires not just technical breakthroughs, but also robust frameworks to mitigate risks along the way. We hope that our updated Frontier Safety Framework contributes meaningfully to this collective effort.

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Gemini achieves gold-medal level at the International Collegiate Programming Contest World Finals

We thank the International Collegiate Programming Contest (ICPC) for their support.This project was a large-scale collaboration, and its success is due to the combined efforts of many individuals and teams. Hanzhao (Maggie) Lin led the overall technical direction for Gemini competitive programming and ICPC 2025 efforts, and co-led with Heng-Tze Cheng on the overall research and execution.The leads and key contributors of the ICPC 2025 team are the following: Chenkai Kuang, Yuan Liu, Zhaoqi Leng, Jieming Mao, Lalit Jain, Chenjie Gu, Goran Žužić, Adams Yu, YaGuang Li, Xiaomeng Yang, Yang Xiao, Adam Zhang, Alex Vitvitskyi, Ashkan Norouzi Fard, Blanca Huergo, Evan Liu, Golnaz Ghiasi, Huan Gui, John Aslanides, Jonathan Lee, Kuba Lacki, Larisa Markeeva, Luheng He, Nigamaa Nayakanti, Nikos Parotsidis, Paul Covington, Petar Veličković, Qijun Tan, Ragha Kotikalapudi, Renshen Wang, Sasan Tavakkol, Shuang Liu, Sidharth Mudgal, Steve Li, Vincent Cohen-Addad, Xianghong Luo, Xinying Song, Yiming Li and Zicheng Xu.The advanced Gemini Deep Think for ICPC was built on foundational research jointly from the Gemini post-training, Thinking and Coding areas including: Aja Huang, Andreas Kirsch, Ankesh Anand, Archit Sharma, Betty Chan, Chenxi Liu, Cosmo Du, Dawsen Hwang, Dustin Tran, Edward Lockhart, Feryal Behbahani, Fred Zhang, Garrett Bingham, Hao Zhou, Hoang Nguyen, Irene Cai, Jian Li, Jarrod Kahn, Junehyuk Jung, Junsu Kim, Kate Baumli, Kefan Xiao, Le Hou, Lei Yu, Maciej Kula, Mahan Malihi, Marcelo Menegali, Miklós Z. Horváth, Mirek Olšák, Nate Kushman, Pei Sun, Pol Moreno, Rosemary Ke, Sahitya Potluri, Shane Gu, Shubha Raghvendra, Siamak Shakeri, Sid Lall, Steven Zheng, Thang Luong, Theophane Weber, Tong He, Tianhe (Kevin) Yu, Trieu Trinh, Vikas Yadav, Vinay Ramasesh, Vinh Tran, Weiyue Wang, Wilfried Bounsi, Xiyang Luo, Yangsibo Huang, Yi Tay, Yong Cheng, Yuan Zhang, Yuri Chervonyi and Yujing Zhang.This effort was advised by Quoc Le and Vahab Mirrokni, with program and operation management from Kristen Chiafullo, Eric Ni, Srinivas Tadepalli, Jessica Lo and Sajjad Zafar.We’d also like to thank our competitive programming experts for providing insights: Alexander Grushetsky, Chun-Sung Ferng, Ilya Kornakov, Liang Bai, Petr Mitrichev and Sergey Rogulenko.We want to extend our deepest gratitude to the Gemini serving team: Abhijit Karmarkar, Cip Baetu, Emanuel Taropa, Evan Senter, Federico Lebron, Girish Ramchandra Rao, Greg Anielak, Hamish Tomlinson, Hayden Jeune, Jia Zhao, Joe Stanton, Ashish Shenoy, Jonathan Kairupan, Juliette Love, Justin Mao-Jones, Kashyap Krishnakumar, Ken Franko, Mahesh Palekar, Minh Giang, Nikhil Sethi, Rohan Jain, Rohit Varkey Thankachan, Soheil Hassas Yeganeh, Thomas Jimma and Vitor Rodrigues.Further thanks to the following people for support, collaboration, and advice: Benoit Schillings, Ed Chi, Koray Kavukcuoglu, Jeff Dean, Oriol Vinyals, Noam Shazeer, James Manyika, Yossi Matias, Philipp Schindler, Pushmeet Kohli, Demis Hassabis, Sergey Brin, Melvin Johnson, Omer Levy, Timothy Lillicrap, Anca Dragan, Slav Petrov, Ya Xu, Madhavi Sewak, Erika Gemzer, Eugénie Rives, Erica Moreira, Tulsee Doshi, Alex Goldin, Jane Labanowski, Andy Forbes, Sean Nakamoto, Yifeng Lu, Denny Zhou, Alexander Novikov, Cristy Hayner, Hanada Tatsuki, Harsh Dhand, Ritu Ghai, Hiroki Kayama, Jenny Rizk Nicholls, Jo Chick, Song Zuo, Pratyusha Mukherjee, Shibo Wang, Carlos Guia, Xiaofan Zhang, …Finally, we thank Dr. Bill Poucher from the ICPC global for the support and endorsement.The ICPC global has confirmed that our submitted solutions are complete and accepted. It is important to note that their review does not extend to validating our system, processes, or underlying model.

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Discovering new solutions to century-old problems in fluid dynamics

Our new method could help mathematicians leverage AI techniques to tackle long-standing challenges in mathematics, physics and engineering.For centuries, mathematicians have developed complex equations to describe the fundamental physics involved in fluid dynamics. These laws govern everything from the swirling vortex of a hurricane to airflow lifting an airplane’s wing.Experts can carefully craft scenarios that make theory go against practice, leading to situations which could never physically happen. These situations, such as when quantities like velocity or pressure become infinite, are called ‘singularities’ or ‘blow ups’. They help mathematicians identify fundamental limitations in the equations of fluid dynamics, and help improve our understanding of how the physical world functions.In a new paper, we introduce an entirely new family of mathematical blow ups to some of the most complex equations that describe fluid motion. We’re publishing this work in collaboration with mathematicians and geophysicists from institutions including Brown University, New York University and Stanford UniversityOur approach presents a new way to leverage AI techniques to tackle longstanding challenges in mathematics, physics and engineering that demand unprecedented accuracy and interpretability.The importance of unstable singularitiesStability is a crucial aspect of singularity formation. A singularity is considered stable if it is robust to small changes. Conversely, an unstable singularity requires extremely precise conditions.It’s expected that unstable singularities play a major role in foundational questions in fluid dynamics because mathematicians believe no stable singularities exist for the complex boundary-free 3D Euler and Navier-Stokes equations. Finding any singularity in the Navier-Stokes equations is one of the six famous Millennium Prize Problems that are still unsolved.With our novel AI methods, we presented the first systematic discovery of new families of unstable singularities across three different fluid equations. We also observed a pattern emerging as the solutions become increasingly unstable. The number characterizing the speed of the blow up, lambda (λ), can be plotted against the order of instability, which is the number of unique ways the solution can deviate from the blow up. The pattern was visible in two of the equations studied, the Incompressible Porous Media (IPM) and Boussinesq equations. This suggests the existence of more unstable solutions, whose hypothesized lambda values lie along the same line.

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Iran Risk Hands Oil Algos Early Test

Algorithmic traders have racked up a third straight year of losses in oil, the longest slump on record, with hopes for a turnaround in 2026 facing an early test amid geopolitical volatility.   Price swings sparked by tariffs and wider upheaval from Iran to Ukraine last year starved market players known as commodity-trading advisers, or CTAs, of the clear directional signals they need to profit. The algorithmic traders suffered their longest annual losing streak last year in data going back to 2000, according to analytics firm Kpler. CTAs, which seize on trends, are notorious for amplifying price moves in either direction. For a brief period, conditions appeared to be tilting in their favor. Growing consensus that the oil market will be oversupplied gave CTAs a clear signal late last year, allowing them to eke out a rare positive quarter, according to analysts. That’s compared to much of the rest of 2025, as they struggled to grasp onto a trend amid the Trump administration’s unpredictable trade policy and conflicts in the Middle East.  The positive late-year momentum spurred CTAs to increase their presence in WTI’s front-month contract, according to Kpler, amplifying volatility and complicating market conditions for participants with physical exposure. The shift could be particularly consequential as geopolitical risks, like the threat of US strikes against Iran, trigger sharp price swings. “Choppy ranges, fake breakouts against the underlying fundamentals, signals that worked for about two days before reversing,” Cayler Capital, an oil-focused commodity trading adviser run by Brent Belote, wrote of last year’s trading environment in a letter to investors seen by Bloomberg. “This is the kind of market that exists solely to humble quants and annoy traders.” The turmoil led CTAs to change their position in US oil in roughly 80% of the weeks in 2025, according to data from Kpler. The

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UK Navy Says Ship Hailed by Armed Vessels in Hormuz

(Update) February 3, 2026, 4:42 PM GMT: Article updated with details of vessel involved. An oil tanker that’s part of a US-military fuel procurement program was hailed by small armed ships in the Strait of Hormuz off Iran’s coast on Tuesday, amid heightened tensions between the two countries.  The US-flagged Stena Imperative was hailed over radio while transiting the vital waterway, according to multiple maritime security companies, who declined to be named citing sensitive information. The tanker continued its planned route and didn’t divert, despite the requests, they said.  Iranian media said the country’s naval forces warned a vessel to leave Iranian territorial waters after failing to produce the necessary legal documents. The vessel departed immediately after the warning, Iran’s semi-official Fars News said. A spokesperson for Crowley, which manages the Stena Imperative, didn’t respond to multiple requests for comment. The vessel’s owner referred questions to Crowley. The incident, which was earlier reported by the UK’s naval liaison in the region, occurred in a part of the inbound maritime corridor into the Strait of Hormuz, the narrow chokepoint that allows ships to enter and exit the Persian Gulf and accounts for about a quarter of the world’s seaborne oil trade.  President Donald Trump last week threatened a fresh attack on Iran, heightening tensions between the two nations. He has since said talks between the two countries over a new nuclear deal could take place in the coming days. The ship is part of the US Tanker Security Program, which aims to ensure that the Department of Defense has access to a fleet of American-flagged fuel tankers at all times.  Iran has in the past both harassed and seized ships sailing near to its shores. Last year, it diverted a ship called the Talara to its waters, before unloading its cargo and releasing it. Late last week,

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Devon, Coterra Sign ‘Blockbuster’ Merger Deal

In a joint statement released Monday, Devon Energy and Coterra Energy announced the signing of a definitive agreement to merge in an all-stock transaction. The combination will create a “leading large-cap shale operator with a high-quality asset base anchored by a premier position in the economic core of the Delaware Basin”, according to the statement, which noted that the combined company will be named Devon Energy and will be headquartered in Houston, while maintaining a “significant presence” in Oklahoma City. “The formation of this premier company is expected to unlock substantial value by leveraging each company’s core strengths and through the realization of $1 billion in annual pre-tax synergies,” the statement said. “The realization of synergies, technology-driven capital efficiency gains, and optimized capital allocation will drive near and long-term per share growth,” it added. Under the terms of the deal, Coterra shareholders will receive a fixed exchange ratio of 0.70 share of Devon common stock for each share of Coterra common stock, the statement pointed out. “Based on Devon’s closing price on January 30, 2026, the transaction implies a combined enterprise value of approximately $58 billion,” the statement highlighted. “Upon completion, Devon shareholders will own approximately 54 percent of the go-forward company and Coterra shareholders will own approximately 46 percent on a fully diluted basis,” it added. The transaction was unanimously approved by the boards of directors of both companies, the statement revealed, adding that the deal is expected to close in the second quarter of 2026, subject to regulatory approvals and customary closing conditions, including approvals by Devon and Coterra shareholders. The joint statement noted that the merger will create “one of the world’s leading shale producers, with pro forma third quarter 2025 production exceeding 1.6 million barrels of oil equivalent per day, including over 550,000 barrels of oil

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The Download: squeezing more metal out of aging mines, and AI’s truth crisis

This is today’s edition of The Download, our weekday newsletter that provides a daily dose of what’s going on in the world of technology. Microbes could extract the metal needed for cleantech In a pine forest on Michigan’s Upper Peninsula, the only active nickel mine in the US is nearing the end of its life. At a time when carmakers want the metal for electric-vehicle batteries, nickel concentration at Eagle Mine is falling and could soon drop too low to warrant digging.Demand for nickel, copper, and rare earth elements is rapidly increasing amid the explosive growth of metal-intensive data centers, electric cars, and renewable energy projects. But producing these metals is becoming harder and more expensive because miners have already exploited the best resources. Here’s how biotechnology could help.—Matt Blois
What we’ve been getting wrong about AI’s truth crisis —James O’DonnellWhat would it take to convince you that the era of truth decay we were long warned about—where AI content dupes us, shapes our beliefs even when we catch the lie, and erodes societal trust in the process—is now here?A story I published last week pushed me over the edge. And it also made me realize that the tools we were sold as a cure for this crisis are failing miserably. Read the full story.This story originally appeared in The Algorithm, our weekly newsletter on AI. To get stories like this in your inbox first, sign up here.
TR10: Hyperscale AI data centers In sprawling stretches of farmland and industrial parks, supersized buildings packed with racks of computers are springing up to fuel the AI race.These engineering marvels are a new species of infrastructure: supercomputers designed to train and run large language models at mind-­bending scale, complete with their own specialized chips, cooling systems, and even energy supplies. But all that impressive computing power comes at a cost. Read why we’ve named hyperscale AI data centers as of our 10 Breakthrough Technologies this year, and check out the rest of the list. The must-reads I’ve combed the internet to find you today’s most fun/important/scary/fascinating stories about technology. 1 Elon Musk’s SpaceX has acquired xAIThe deal values the combined companies at a cool $1.25 trillion. (WSJ $)+ It also paves the way for SpaceX to offer an IPO later this year. (WP $)+ Meanwhile, OpenAI has accused xAI of destroying legal evidence. (Bloomberg $)

2 NASA has delayed the launch of Artemis IIIt’s been pushed back to March due to the discovery of a hydrogen leak. (Ars Technica)+ The rocket’s predecessor was also plagued by fuel leaks. (Scientific American) 3 Russia is hiring a guerilla youth army onlineThey’re committing arson and spying on targets across Europe. (New Yorker $)4 Grok is still generating undressed images of menWeeks after the backlash over it doing the same to women. (The Verge)+ How Grok descended into becoming a porn generator. (WP $)+ Inside the marketplace powering bespoke AI deepfakes of real women. (MIT Technology Review)5 OpenAI is searching for alternatives to Nvidia’s chipsIt’s reported to be unhappy about the speed at which it powers ChatGPT. (Reuters) 6 The latest attempt to study a notoriously unstable glacier has failedScientists lost their equipment within Antarctica’s Thwaites Glacier over the weekend. (NYT $)+ Inside a new quest to save the “doomsday glacier” (MIT Technology Review) 7 The world is trying to wean itself off American technologyGovernments are growing increasingly uneasy about their reliance on the US. (Rest of World) 8 AI’s sloppy writing is driving demand for real human writersLong may it continue. (Insider $) 9 This female-dominated fitness community hates Mark ZuckerbergHis decision to shut down three VR studios means their days of playing their favorite workout game are numbered. (The Verge)+ Welcome to the AI gym staffed by virtual trainers. (MIT Technology Review)10 This cemetery has an eco-friendly solution for its overcrowding problemIf you’re okay with your loved one becoming gardening soil, that is. (WSJ $)+ Why America is embracing the right to die now. (Economist $)+ What happens when you donate your body to science. (MIT Technology Review) Quote of the day
“In the long term, space-based AI is obviously the only way to scale…I mean, space is called ‘space’ for a reason.” —Elon Musk explains his rationale for combining SpaceX with xAI in a blog post.
One more thing On the ground in Ukraine’s largest Starlink repair shopStarlink is absolutely critical to Ukraine’s ability to continue in the fight against Russia. It’s how troops in battle zones stay connected with faraway HQs; it’s how many of the drones essential to Ukraine’s survival hit their targets; it’s even how soldiers stay in touch with spouses and children back home.However, Donald Trump’s fickle foreign policy and reports suggesting Elon Musk might remove Ukraine’s access to the services have cast the technology’s future in the country into doubt.For now Starlink access largely comes down to the unofficial community of users and engineers, including the expert “Dr. Starlink”—famous for his creative ways of customizing the systems—who have kept Ukraine in the fight, both on and off the front line. He gave MIT Technology Review exclusive access to his unofficial Starlink repair workshop in the city of Lviv. Read the full story. —Charlie Metcalfe We can still have nice things A place for comfort, fun and distraction to brighten up your day. (Got any ideas? Drop me a line or skeet ’em at me.) + The Norwegian countryside sure looks beautiful.+ Quick—it’s time to visit these food destinations before the TikTok hordes descend.+ Rest in power Catherine O’Hara, our favorite comedy queen.+ Take some time out of your busy day to read a potted history of boats 🚣

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USA Upstream M&A Regains Momentum

In a statement sent to Rigzone by the Enverus team recently, Enverus subsidiary Enverus Intelligence Research (EIR) said U.S. upstream M&A “regained momentum” in the fourth quarter of 2025. “After a midyear slowdown, U.S. upstream M&A regained momentum in 4Q25, closing with $23.5 billion in announced deals and pushing full-year 2025 activity to $65 billion,” EIR said in the statement. “The rebound reflects a deeper bench of motivated buyers including refunded private equity teams, increased use of securitized financing, and new international entrants all competing for scarce assets,” it added. A table included in the statement highlighted that the top five U.S. upstream deals of the fourth quarter comprised a deal between SM Energy and Civitas Resources for $7.691 billion, a deal between Harbour Energy and LLOG Holdings for $3.200 billion, a deal between Antero Resources and HG Energy II for $2.8 billion, a deal between an “undisclosed buyer” and Baytex Energy for $2.305 billion, and a deal between JERA and GEP Haynesville/Williams for $1.5 billion. “In the closing months of 2025 it looks like the market found its edge again even with fewer headline-making mega-mergers as it reached a faster pace of acquisitions and divestments,” Andrew Dittmar, principal analyst at EIR, said in the statement. “Fresh capital is back in the field, and the buyer mix has broadened in a way that keeps pricing firm. Reloaded private equity is hunting, ABS-backed groups are bidding aggressively for cash-flowing production, and international companies are no longer limiting their U.S. interest to the most obvious gas trades,” he added. “That combination helped deal activity finish the year in strong form and sets up an active 2026,” Dittmar continued. In the statement, EIR highlighted that international buyers accounted for roughly $6 billion of 4Q25 acquisitions, “underscoring a continued willingness to pay for exposure

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North America Adds 3 Rigs WoW

North America added three rigs week on week, according to Baker Hughes’ latest North America rotary rig count, which was published on January 30. The total U.S. rig count rose by two week on week and the total Canada rig count increased by one during the same period, pushing the total North America rig count up to 778, comprising 546 rigs from the U.S. and 232 rigs from Canada, the count outlined. Of the total U.S. rig count of 546, 529 rigs are categorized as land rigs, 14 are categorized as offshore rigs, and three are categorized as inland water rigs. The total U.S. rig count is made up of 411 oil rigs, 125 gas rigs, and 10 miscellaneous rigs, according to Baker Hughes’ count, which revealed that the U.S. total comprises 478 horizontal rigs, 53 directional rigs, and 15 vertical rigs. Week on week, the U.S. land rig count rose by three, its offshore rig count dropped by one, and its inland water rig count remained unchanged, Baker Hughes highlighted. The U.S. oil rig count remained unchanged on week, while its gas rig count increased by three and its miscellaneous rig count dropped by one, the count showed. The U.S. horizontal and vertical rig counts each increased by two week on week, and the country’s directional rig count dropped by two during the same period, the count revealed. A major state variances subcategory included in the rig count showed that, week on week, Oklahoma added three rigs, North Dakota, Louisiana, and Pennsylvania each added one rig, Texas dropped three rigs, and Ohio dropped one rig. A major basin variances subcategory included in the rig count showed that, week on week, the Cana Woodford basin added five rigs, the Arkoma Woodford, Haynesville, Marcellus, and Williston basins each added one rig,

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