| April 7, 2026 | |
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| WTI (May) $112.95 ▲0.48% · NG (May) $2.870 ▲2.10% · RIGS 548 ▲5 · S&P 6,616.85 ▲0.08% · XOP $180.34 ▲0.71% | |
| April 7 close · Gas = Henry Hub May 2026 · Rigs = Baker Hughes (week ending April 2, 2026) |
| 90% |
| of AI-exposed wage dollars sit above the field — Sunya Research, The Energy Decision Stack |
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Somewhere this week, a billion-dollar development decision will get approved off four scenarios in a spreadsheet. That’s not going to hold. |
| READ THE RESEARCH → |
| Today’s Menu | |||||||||||
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| Lead Story |
| $12.5B / 9.5 mtpa — Caturus pushes Commonwealth LNG to full commerciality |
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This is the kind of pre-FID LNG update that matters: buyers are signed, financing is next, and the schedule is still moving. |
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• Caturus said Commonwealth LNG finalized customer offtake agreements to underpin financing for its Cameron Parish, Louisiana export project, with FID anticipated in the coming weeks. |
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• The counterparties are EQT LNG Trading, Glencore, Mercuria, PETRONAS LNG, and Aramco Trading Americas. |
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• Commonwealth’s Phase I development is pegged at $12.5 billion, with expected start-up in 2030 and about $3.5 billion of annual export revenue once online. |
| The Headlines |
| AI • Data Centers |
| 3.5 GW — Anthropic books more U.S.-heavy TPU capacity |
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• Anthropic said it signed a new agreement with Google and Broadcom for multiple gigawatts of next-generation TPU capacity expected to come online starting in 2027. |
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• Reuters reported Broadcom’s filing pegged Anthropic’s portion at about 3.5 GW. |
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• Anthropic said run-rate revenue has now surpassed $30 billion, up from about $9 billion at the end of 2025. |
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| Offshore • Deepwater |
| 1,095 days / $480M — Seadrill extends West Polaris at Búzios |
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• Seadrill said West Polaris won a 1,095-day extension with Petrobras for the Búzios field in Brazil’s Santos Basin. |
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• The additional term adds about $480 million of backlog and is expected to begin in direct continuation of the current program in January 2028. |
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• The dayrate resets to $409,200/day through March 2027, then to $454,700/day through January 2028. |
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| Nuclear • Power |
| 835 MW — Crane restart collides with PJM transmission timing |
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• Reuters reported that delayed transmission projects could postpone the restart of Constellation’s Crane Clean Energy Center unless FERC grants waivers. |
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• PJM said contingent transmission projects with in-service dates in December 2030 would need to finish before Crane’s output can be fully delivered. |
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• The project is backed by a 20-year Microsoft PPA, and Constellation says Crane would restore 835 MW of carbon-free power to the grid. |
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| Private Equity • Infrastructure |
| $3.9B / +30% — ArcLight closes Fund VIII above target |
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• ArcLight closed Fund VIII at $3.9 billion, more than 30% above its original target. |
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• Capital raised over the past 24 months tops $6 billion. |
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• The fund is aimed at power, renewables, storage, transmission, midstream, and digital infrastructure. |
| Quick Hits | ||||||
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| The Reading List | ||||
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| Sunya Stories | |
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| Full Archive on Spotify → |
| In Case You Missed It | |||
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Disclaimer: Not financial advice. This newsletter is for education + entertainment — not a recommendation or a solicitation to buy or sell anything. Do your own research and make your own calls (and talk to a pro when it matters).