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Leading Delaware Basin produced water infrastructure operator seeks to go public with a scaled network and long-term contracts.

  • Largest U.S. produced water platform: 2,500 miles of pipelines and 196 handling facilities, with 4.5M bpd of capacity; handled ~2.6M bpd as of July 2025.

  • Contracted, diversified revenues: 77% of 1H 2025 revenues from long-term fixed-fee contracts (avg. 11 years remaining); 73% from customers rated BB- or higher (Devon, Chevron, EOG, BPX, Permian Resources).

“Eiger Express” to transport 2.5 Bcf/d by 2028.

  • JV ownership: Matterhorn 70%, ONEOK 15%, MPLX 15% (ONEOK effective 25.5%).

  • Backed by 10+ year FTAs with major shippers.

  • WhiteWater to construct & operate; capacity reserved for Katy & Corpus Christi.

Cenovus consolidates SAGD footprint with a cash-and-stock deal creating a 720,000 bpd oil sands leader.

  • Cenovus acquiring MEG Energy for $27.25 per share (75% cash, 25% stock), valuing the deal at $7.9B including debt.

  • Creates a leading oil sands producer with >720,000 bpd capacity and consolidated Christina Lake assets.

  • Targets >$400M in annual synergies by 2028; pro forma net debt <1x AFF.

Merger creates a top-10 U.S. independent producer with a $1B non-core divestiture pipeline.

  • Crescent acquiring Vital Energy in $3.1B stock deal (1.9062 Crescent shares per Vital share, ~5% premium).

  • Expected $90–100M in annual synergies; company to run leaner, cash-flow-focused model.

  • Combined board expands to include 2 Vital directors; HQ remains in Houston.

Blue Bear Capital leads round to expand Splight’s Dynamic Congestion Management™ solution.

  • $12.4M funding to grow U.S. & EU footprint amid surging data center and utility loads.

  • Tech unlocks up to 100% more transmission capacity using machine learning on existing lines.

Equinor, TotalEnergies, and Shell milestone as Aurora reservoir goes live.

  • First CO₂ volumes injected 2,600m below seabed via 100km pipeline to Aurora reservoir.

  • Phase 1: 1.5 Mtpa storage; expansion approved to ≥5 Mtpa with new tanks, wells, jetty, and ships.

  • Customers include Heidelberg Materials, Hafslund Celsio, Yara, Ørsted, and Stockholm Exergi.

Frontier buyers to purchase 115,000 tons of CO₂ removal via ocean alkalinity enhancement.

  • $31.3M offtake for 115,211 tons from 2026–2030; builds on first verified OAE tons delivered.

  • OAE uses alkaline minerals to convert CO₂ into stable bicarbonates while reducing ocean acidification.

  • Project includes real-time monitoring, MRV protocols, and community/Indigenous engagement.

Agreement locks in long-term baseload renewables for LADWP & Imperial Valley.

  • 52 MW from Heber 1 geothermal to continue through 2052 under SCPPA extension.

  • Will supply ~77,000 households with carbon-free, baseload power.

  • Supports California’s clean energy goals while boosting grid stability.

Part of “Operation Gigawatt” to diversify Utah’s energy base.

  • MOU to explore siting a Natrium sodium fast reactor + molten salt storage by end-2025.

  • Lower water use design suitable for arid Utah; complements Wyoming pilot.

Coalition to deploy 5 GW of advanced nuclear for AI/data centers by 2039.

  • Partners aim to mobilize up to $50B in U.S. & global Xe-100 projects.

  • Builds on X-energy’s deployments with Dow & Energy Northwest; NRC license accepted.

  • Amazon AWS sees project as key to meeting AI data center energy demands.

Mexico’s Guaymas project secures long-term LNG offtake partner.

  • 0.6 Mtpa LNG sales starting in 2028 from AMIGO’s first train.

  • Strategic location provides shipping access to Asia-Pacific and Latin America.

  • Macquarie highlights role in energy security; AMIGO to deploy advanced U.S. liquefaction tech.

Sunya Stories episode #12 with David Heikkinen of WhiteHawk Energy.

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.

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