A big announcement
The almost headlines
In case you missed
Google buys the infra developer behind its own DC power deals to speed U.S. energy innovation.
Cash deal (incl. debt assumption) brings Intersect’s teams and projects in TX/CA under Alphabet, with Intersect continuing as an independent brand led by Sheldon Kimber while partnering closely with Google.
Aims to co-locate power and data centers, expand reliable capacity, and accelerate emerging tech (geothermal, long-duration storage, gas+CCS), using AI to streamline grid interconnections and efficiency; closing expected 1H 2026 (approvals pending).
New wind in Indiana to power ~42k homes and bolster rural tax base.
Prairie Creek, slated for 2028 COD, will power ~42,000 homes and create ~240 construction jobs, with $60M in property taxes and $10M in economic development payments over 30 years.
Deal diversifies Indiana Michigan Power’s resource mix and underscores RWE’s role as the U.S.’s third-largest renewables player (>10 GW wind/solar/BESS).
Domestic cells, high U.S. content, and new polysilicon chain for utility-scale solar PPAs.
Treaty Oak will source at least 900 MW of modules produced with advanced cells from T1’s G2_Austin fab (first phase 2.1 GW, scaling to 5.3 GW, complementing 5 GW Dallas facility).
Modules are designed to meet new foreign-content rules and hit >60% domestic content at start, improving Treaty Oak’s cost-competitive, compliant supply for large PPAs.
Bigger pipe, bigger spend: 42" → 48" mainline to feed AZ/NM gas demand by 2029.
Capacity now targeted “up to” 2.3 Bcf/d with estimated $5.6B project cost (+ $200M capex in 2026), aiming to serve population growth, economic expansion, and coal-to-gas plant conversions.
In-service expected 4Q 2029, backed by regional utilities and suppliers seeking long-term, reliable and affordable gas supply.
Big bet on deepwater Gulf: longer reserve life, more oil barrels, 2028 growth.
Deal (US$2.7B cash + $0.5B in 174.9M Harbour shares) adds high-quality deepwater assets like Who Dat, Buckskin, Leon-Castile, lifting reserves +22% and extending reserve life from 7 → 8 years; completion expected late 1Q 2026.
Harbour expects meaningful FCF from 2027, doubled production by 2028, improved tax profile, and cross-portfolio synergies across Mexico, Norway, UK, and the U.S.—subject to regulatory approvals and integration/execution risks.
Management swaps Class C for Class A on the way to a single-class C-Corp by ~2027.
Reorg exchanges management/long-term holders’ Class C for Class A, with management owning >6% post-deal, and co-CEOs still paid solely in multi-year performance stock units.
Target is a fully simplified C-Corp with one class of shares by year-end 2027 while preserving ticker, total share count, and economic interests—building on ~27% annual TSR since inception.
Exit U.S. liquids, de-lever hard, then hand cash back and focus on WCSB growth.
Proceeds put Baytex in a net cash position, funding payoff of credit facilities and 2030 notes, plus a tender for US$575M of 7.375% 2032 notes and stepped-up share buybacks.
Capital now refocused on high-return assets in the Western Canadian Sedimentary Basin; 2026 guidance arrives Dec 22, 2025.
From remediation to full-stack: pipelines, terminals, and marketing under one roof.
High-efficiency aero-derivative trains for a new Cameron, LA export project.
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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.