The growing energy needs of AI data centers and manufacturing facilities are driving plans for up to 80 new natural gas-fired power plants in the US by 2030, which could increase power capacity by 46 gigawatts, according to Enverus. Major oil companies such as ExxonMobil and Chevron are also joining the fray with projects designed to power AI data centers directly, bypassing the traditional grid.
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Enbridge is positioning itself to capitalize on a potential drilling boom under the Trump administration, with plans to expand pipeline capacity through efficiency upgrades like looped sections and drag-reducing agents. CEO Greg Ebel sees opportunities to transport "several hundred thousand" more barrels of oil a day within the US in the coming years, particularly from the Rockies and Bakken regions to Midwest and Gulf Coast refineries.
Carbon-free energy sources accounted for 96% of new US power capacity in 2024, with 56 gigawatts added, according to this chart based on Cleanview data. Solar led with 34 gigawatts, followed by energy storage at 13 gigawatts, while wind installations declined due to supply chain issues. Gas-fired capacity increased by 2.4 gigawatts, while nuclear generation rose by 1 gigawatt.
In a $26.6 billion deal, Constellation plans to acquire Calpine, merging two major power companies to create a leading US electric supplier. The acquisition will expand Constellation's geographic footprint and energy capacity, emphasizing zero- and low-emission sources.
Texas' oil and natural gas industry set new benchmarks in 2024, achieving record highs in production, refining, exports and emissions reductions, according to the Texas Oil & Gas Association. Highlights include daily crude output peaking at 5.86 million barrels, industry contributions to state revenues hitting $27.3 billion and the flaring rate falling below 0.94% in August.
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Utah's Uinta Basin is becoming a hotspot for horizontal drilling as its high-quality rock and stacked pay potential attracts operators seeking alternatives to the pricey Permian Basin. The region was at the center of some major acquisitions in 2024, including SM Energy and Northern Oil & Gas's joint acquisition of XCL Resources for $2.6 billion and FourPoint Resources' $2 billion purchase of Ovintiv's Uinta assets.
The number of US oil and natural gas rigs declined by five to 584 last week after a month of stability, according to Baker Hughes. Texas led the drop with three rigs idled, while Utah and Colorado lost one unit each.
The Biden administration's decision to withdraw 625 million coastal acres from future offshore oil and natural gas leasing undermines US energy security and economic growth. The move, taken in the administration's last days, contradicts the will of American voters who support domestic energy production and risks future US energy development. The action restricts waters in the Arctic, Atlantic, Pacific and Eastern Gulf of Mexico.
The Fundamentals of Auditing two-day course covers auditing fundamentals and processes unique to the API program. The multi-day Lead Auditor course offers additional information on leading an audit team. Participants will learn how to conduct effective audits by applying the key principles, procedures, and techniques as well as how to manage the audit process. To learn more about upcoming dates or to register, visit the API-U Catalog.
With ongoing changes both domestically and internationally, the petroleum industry and its affiliates face new challenges and remarkable opportunities. Energy policy proves increasingly paramount with direct regard to economic development and trade vitality. Please join us as we welcome speakers from relevant backgrounds to the 2025 conference. This year's conference seeks to tackle subjects that include industry updates, foreign trade agreements, sanctions, and much more! Don't miss this exciting opportunity to learn and connect with industry members. Learn More!
