Whitecap Resources, Veren to merge in C$15-billion deal

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Whitecap Resources, Veren to merge in C$15-billion deal

Whitecap Resources Inc., Calgary, and Veren Inc. have agreed to merge in an all-stock deal valued at $15 billion (Can.), inclusive of net debt, to form a large Western Canadian light oil and condensate producer. The deal brings the Whitecap and Veren together to create “one world-class energy producer with one of the deepest inventory […]

The deal brings the Whitecap and Veren together to create “one world-class energy producer with one of the deepest inventory growth sets of both liquids-rich Montney and Duvernay opportunities, along with conventional light oil opportunities in some of the most profitable plays in the Western Canadian basin,” said Grant Fagerheim, Whitecap president and chief executive officer, in a joint release Mar 10.

The combine will hold 370,000 boe/d (63% liquids) of corporate production with overlap across both unconventional and conventional assets, “becomes the largest Canadian light oil focused producer and the seventh largest producer in the Western Canadian Sedimentary basin, with significant natural gas growth potential, the companies said.

Alberta Montney, Duvernay

In the Kaybob Duvernay and Alberta Montney, the company expects about 220,000 boe/d of unconventional production with 1.5 million acres in Alberta with and over 4,800 total development locations in the Montney and Duvernay to drive decades of future production growth.

Of the 4,800 (4,336 net) drilling locations identified, 766 (713 net) are proved locations, 270 (254 net) are probable locations, and 3,764 (3,369 net) are unbooked locations.

Opportunities for inventory enhancement include well and completion design, real-time frac optimization, and reservoir-tailored production practices, Whitecap said in a deal presentation.

Saskatchewan

The combine is expected to become the second largest producer in Saskatchewan with consolidated assets in west and southeast Saskatchewan, according to the companies. The combined business will have 40% of its conventional production under waterflood recovery supporting a decline rate of less than 20% on 150,000 boe/d of production. The foundational assets have about 7,000 development locations.

Of the 7,000 (6,201 net) conventional drilling locations identified, 1,968 (1,722 net) are proved locations, 554 (513 net) are probable locations, and 4,478 (3,966 net) are unbooked locations.
Inventory enhancement opportunities include open hole multi-laterals and extended reach horizontals.

Annual synergies of over $200 million are expected, independent of commodity prices, the companies said.

Upon closing, expected before May 30, 2025, the merged company will be led by Whitecap’s existing management team under the Whitecap name with four Veren directors to join the Whitecap board of directors, including the current president and chief executive officer of Veren, Craig Bryksa.

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Growing demand for electricity requires new policy solutions

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Gas appliances suffer setback in Washington state

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ARC Secures LNG Sale to ExxonMobil Using Cedar LNG Offtake

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Decarbonising Scotland means an industrial transformation over energy transition

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Podcast: On the Frontier of Modular Edge AI Data Centers with Flexnode’s Andrew Lindsey

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Last Energy to Deploy 30 Microreactors in Texas for Data Centers

As the demand for data center power surges in Texas, nuclear startup Last Energy has now announced plans to build 30 microreactors in the state’s Haskell County near the Dallas-Fort Worth Metroplex. The reactors will serve a growing customer base of data center operators in the region looking for reliable, carbon-free energy. The plan marks Last Energy’s largest project to date and a significant step in advancing modular nuclear power as a viable solution for high-density computing infrastructure. Meeting the Looming Power Demands of Texas Data Centers Texas is already home to over 340 data centers, with significant expansion underway. Google is increasing its data center footprint in Dallas, while OpenAI’s Stargate has announced plans for a new facility in Abilene, just an hour south of Last Energy’s planned site. The company notes the Dallas-Fort Worth metro area alone is projected to require an additional 43 gigawatts of power in the coming years, far surpassing current grid capacity. To help remediate, Last Energy has secured a 200+ acre site in Haskell County, approximately three and a half hours west of Dallas. The company has also filed for a grid connection with ERCOT, with plans to deliver power via a mix of private wire and grid transmission. Additionally, Last Energy has begun pre-application engagement with the U.S. Nuclear Regulatory Commission (NRC) for an Early Site Permit, a key step in securing regulatory approval. According to Last Energy CEO Bret Kugelmass, the company’s modular approach is designed to bring nuclear energy online faster than traditional projects. “Nuclear power is the most effective way to meet Texas’ growing energy demand, but it needs to be deployed faster and at scale,” Kugelmass said. “Our microreactors are designed to be plug-and-play, enabling data center operators to bypass the constraints of an overloaded grid.” Scaling Nuclear for

Data Center Jobs: Engineering and Technician Jobs Available in Major Markets

Each month Data Center Frontier, in partnership with Pkaza, posts some of the hottest data center career opportunities in the market. Here’s a look at some of the latest data center jobs posted on the Data Center Frontier jobs board, powered by Pkaza Critical Facilities Recruiting. Data Center Facility Engineer (Night Shift Available) Ashburn, VAThis position is also available in: Tacoma, WA (Nights), Days/Nights: Needham, MA and New York City, NY. This opportunity is working directly with a leading mission-critical data center developer / wholesaler / colo provider. This firm provides data center solutions custom-fit to the requirements of their client’s mission-critical operational facilities. They provide reliability of mission-critical facilities for many of the world’s largest organizations facilities supporting enterprise clients and hyperscale companies. This opportunity provides a career-growth minded role with exciting projects with leading-edge technology and innovation as well as competitive salaries and benefits. Electrical Commissioning Engineer New Albany, OHThis traveling position is also available in: Somerset, NJ; Boydton, VA; Richmond, VA; Ashburn, VA; Charlotte, NC; Atlanta, GA; Hampton, GA; Fayetteville, GA; Des Moines, IA; San Jose, CA; Portland, OR; St Louis, MO; Phoenix, AZ; Dallas, TX; Chicago, IL; or Toronto, ON. *** ALSO looking for a LEAD EE and ME CxA agents.*** Our client is an engineering design and commissioning company that has a national footprint and specializes in MEP critical facilities design. They provide design, commissioning, consulting and management expertise in the critical facilities space. They have a mindset to provide reliability, energy efficiency, sustainable design and LEED expertise when providing these consulting services for enterprise, colocation and hyperscale companies. This career-growth minded opportunity offers exciting projects with leading-edge technology and innovation as well as competitive salaries and benefits. Switchgear Field Service Technician – Critical Facilities Nationwide TravelThis position is also available in: Charlotte, NC; Atlanta, GA; Dallas,

Amid Shifting Regional Data Center Policies, Iron Mountain and DC Blox Both Expand in Virginia’s Henrico County

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New Reports Show How AI, Power, and Investment Trends Are Reshaping the Data Center Landscape

Today we provide a comprehensive roundup of the latest industry analyst reports from CBRE, PwC, and Synergy Research, offering a data-driven perspective on the state of the North American data center market. To wit, CBRE’s latest findings highlight record-breaking growth in supply, soaring colocation pricing, and mounting power constraints shaping site selection. For its part, PwC’s analysis underscores the sector’s broader economic impact, quantifying its trillion-dollar contribution to GDP, rapid job growth, and surging tax revenues. Meanwhile, the latest industry analysis from Synergy Research details the acceleration of cloud spending, AI’s role in fueling infrastructure demand, and an unprecedented surge in data center mergers and acquisitions. Together, these reports paint a picture of an industry at an inflection point—balancing explosive expansion with evolving challenges in power availability, cost pressures, and infrastructure investment. Let’s examine them. CBRE: Surging Demand Fuels Record Data Center Expansion CBRE says the North American data center sector is scaling at an unprecedented pace, driven by unrelenting demand from artificial intelligence (AI), hyperscale, and cloud service providers. The latest North America Data Center Trends H2 2024 report from CBRE reveals that total supply across primary markets surged by 34% year-over-year to 6,922.6 megawatts (MW), outpacing the 26% growth recorded in 2023. This accelerating expansion has triggered record-breaking construction activity and intensified competition for available capacity. Market Momentum: Scaling Amid Power Constraints According to CBRE, data center construction activity reached historic levels, with 6,350 MW under development at the close of 2024—more than doubling the 3,077.8 MW recorded a year prior. Yet, the report finds the surge in development is being met with significant hurdles, including power constraints and supply chain challenges affecting critical electrical infrastructure. As a result, the vacancy rate across primary markets has plummeted to an all-time low of 1.9%, with only a handful of sites

Minnesota PUC Says No to Amazon’s Bid to Fast-Track 250 Diesel Generators for Data Center

Amazon is facing scrutiny and significant pushbacks over its plan to install 250 diesel backup generators for a proposed data center in Becker, Minnesota. Much of the concern had been due to the fact that the hyperscaler was seeking an exemption from the state’s standard permitting process, a move that has sparked opposition from environmental groups and state officials. Aggregate Power that Matches Nuclear Power Generation Amazon’s proposed fleet of diesel generators would have a maximum power output almost equivalent to the 647 MW that is produced by Xcel Energy’s nuclear plant in Monticello, one of the two existing nuclear generation stations in the state. Meanwhile, as reported by Datacenter Dynamics, according to a real estate filing published with the Minnesota Department of Revenue, the land parcel assigned for the Amazon data center in Becker was previously part of Minneapolis-based utility Xcel’s coal-powered Sherco Site. Amazon argues that the diesel generators in question are essential to ensuring reliable and secure access to critical data and applications for its customers, including hospitals and first responders. However, opponents worry about the environmental impact and the precedent it may set for future large-scale data center developments in the state. The Law and Its Exception Under Minnesota state law, any power plant capable of generating 50 megawatts or more that connects to the grid via transmission lines must obtain a Certificate of Need from the Public Utilities Commission (PUC). This certification ensures that the infrastructure is necessary and that no cheaper, cleaner alternatives exist. Amazon, however, contends that its generators do not fall under this requirement because they are not connected to the larger electric grid; power generated would be strictly used by the data center suffering an outage from its primary power source. That power would be generated locally, and not transmitted over

Microsoft will invest $80B in AI data centers in fiscal 2025

And Microsoft isn’t the only one that is ramping up its investments into AI-enabled data centers. Rival cloud service providers are all investing in either upgrading or opening new data centers to capture a larger chunk of business from developers and users of large language models (LLMs). In a report published in October 2024, Bloomberg Intelligence estimated that demand for generative AI would push Microsoft, AWS, Google, Oracle, Meta, and Apple would between them devote $200 billion to capex in 2025, up from $110 billion in 2023. Microsoft is one of the biggest spenders, followed closely by Google and AWS, Bloomberg Intelligence said. Its estimate of Microsoft’s capital spending on AI, at $62.4 billion for calendar 2025, is lower than Smith’s claim that the company will invest $80 billion in the fiscal year to June 30, 2025. Both figures, though, are way higher than Microsoft’s 2020 capital expenditure of “just” $17.6 billion. The majority of the increased spending is tied to cloud services and the expansion of AI infrastructure needed to provide compute capacity for OpenAI workloads. Separately, last October Amazon CEO Andy Jassy said his company planned total capex spend of $75 billion in 2024 and even more in 2025, with much of it going to AWS, its cloud computing division.

John Deere unveils more autonomous farm machines to address skill labor shortage

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2025 playbook for enterprise AI success, from agents to evals

Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More 2025 is poised to be a pivotal year for enterprise AI. The past year has seen rapid innovation, and this year will see the same. This has made it more critical than ever to revisit your AI strategy to stay competitive and create value for your customers. From scaling AI agents to optimizing costs, here are the five critical areas enterprises should prioritize for their AI strategy this year. 1. Agents: the next generation of automation AI agents are no longer theoretical. In 2025, they’re indispensable tools for enterprises looking to streamline operations and enhance customer interactions. Unlike traditional software, agents powered by large language models (LLMs) can make nuanced decisions, navigate complex multi-step tasks, and integrate seamlessly with tools and APIs. At the start of 2024, agents were not ready for prime time, making frustrating mistakes like hallucinating URLs. They started getting better as frontier large language models themselves improved. “Let me put it this way,” said Sam Witteveen, cofounder of Red Dragon, a company that develops agents for companies, and that recently reviewed the 48 agents it built last year. “Interestingly, the ones that we built at the start of the year, a lot of those worked way better at the end of the year just because the models got better.” Witteveen shared this in the video podcast we filmed to discuss these five big trends in detail. Models are getting better and hallucinating less, and they’re also being trained to do agentic tasks. Another feature that the model providers are researching is a way to use the LLM as a judge, and as models get cheaper (something we’ll cover below), companies can use three or more models to

OpenAI’s red teaming innovations define new essentials for security leaders in the AI era

Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More OpenAI has taken a more aggressive approach to red teaming than its AI competitors, demonstrating its security teams’ advanced capabilities in two areas: multi-step reinforcement and external red teaming. OpenAI recently released two papers that set a new competitive standard for improving the quality, reliability and safety of AI models in these two techniques and more. The first paper, “OpenAI’s Approach to External Red Teaming for AI Models and Systems,” reports that specialized teams outside the company have proven effective in uncovering vulnerabilities that might otherwise have made it into a released model because in-house testing techniques may have missed them. In the second paper, “Diverse and Effective Red Teaming with Auto-Generated Rewards and Multi-Step Reinforcement Learning,” OpenAI introduces an automated framework that relies on iterative reinforcement learning to generate a broad spectrum of novel, wide-ranging attacks. Going all-in on red teaming pays practical, competitive dividends It’s encouraging to see competitive intensity in red teaming growing among AI companies. When Anthropic released its AI red team guidelines in June of last year, it joined AI providers including Google, Microsoft, Nvidia, OpenAI, and even the U.S.’s National Institute of Standards and Technology (NIST), which all had released red teaming frameworks. Investing heavily in red teaming yields tangible benefits for security leaders in any organization. OpenAI’s paper on external red teaming provides a detailed analysis of how the company strives to create specialized external teams that include cybersecurity and subject matter experts. The goal is to see if knowledgeable external teams can defeat models’ security perimeters and find gaps in their security, biases and controls that prompt-based testing couldn’t find. What makes OpenAI’s recent papers noteworthy is how well they define using human-in-the-middle

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