A big announcement
The almost headlines
In case you missed
Tightens grip on ERCOT gas-to-power as AI/data-center demand rises.
Buys half of BPPUS’s stake for ~$376M (50% cash / 50% stock @ $21.6609).
Post-close: BKV owns 75%; consolidates JV (Temple I & II) into results.
Close 1Q’26 (shareholder approvals); funded with cash + borrowings.
Expands “total solutions” EPC platform with Zachry JV on CCGTs.
Design/procure/build; execution starts 2026, full capacity by 2032.
Targets converging loads from DCs/manufacturing; proportional consolidation to Quanta.
Portfolio across GR/IT/PL/RO/LV/ES → >1 TWh/yr by 2030.
Supports “Apple 2030” goal; $600M+ financing impact.
Focus on high-carbon grids (e.g., Poland) for maximum emissions cuts.
Beekman 185 MWac (Morehouse) + Hollis Creek 200 MWac (Sabine), COD 3Q’27.
$100M+ lifetime state/local tax; ~300 peak construction jobs.
Meta takes EACs to back growing AI DC load.
Gas-to-nuclear transition: affordable power by 2028, nuclear by 2031.
Blue Energy to design/operate up to 1.5 GW plant; 1,600-acre campus.
Near transmission, fiber, and major gas pipeline; modular build to cut timelines.
96-MW Aurora (VA) to show AI load can flex with the grid.
Partners: NVIDIA, EPRI, Digital Realty, PJM; COD 1H’26.
Intelligent scheduling/power mgmt to provide grid services via EPRI DCFlex.
Architecture claims path to unlock ~100 GW on existing U.S. grid.
Hunting in energy, power & digital infrastructure.
17.5M units @ $10; each = 1 share + ½ warrant (full @ $11.50).
Trades Oct 30, 2025; close Oct 31 (expected); 45-day greenshoe 2.625M units.
Largest upstream CV to date; positions Marcellus developer for gas upcycle.
Backed by Andros and Goldman Sachs Alternatives; led by EnCap.
Supports inventory development amid constructive gas pricing.
Beat on cash flow, raise on volumes, leaner capex—plus long-dated methanol offtake and acreage adds.
CFO $1.20B; GAAP NI $547M ($2.28/sh); Adj. NI $234M ($0.97/sh); Adj. EBITDAX $1.08B.
7.33 Bcfe/d (92% gas); 11 rigs, 41 drilled, 57 TIL.
2025 capex ↓ $75M → $2.85B; 2025 vols ↑ +50 MMcf/d → 7.15 Bcf/d; ~7.5 Bcf/d eyed for ’26.
15-yr SPA with Lake Charles Methanol (NYMEX premium), start ~2030; FID 2026.
Acreage: ~82.5k adds (W. Haynesville/SW App), 7.5k core Marcellus; W. Haynesville 75k+ ( $178M ).
Balance sheet: RBL $3.5B (2030); $500M H2’25 net-debt paydown; ~$500M synergies ’25 → ~$600M by YE’26.
Simplify, de-lever, refocus on Beta & Bairoil.
$5.5M Harrison Co. sale closed Oct 24, 2025; remaining interests $122M closing 4Q’25.
Proceeds to pay down debt, cut G&A, and redeploy to higher-potential assets.
Thousands of home batteries monetized for peak support across 16 U.S. states + PR.
500,000 MMBtu/d out of Permian; exposure to Henry Hub/LNG & SoCal.
LatAm’s largest DC campus: 17 DCs, three substations, 100% RE PPAs.
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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.