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Newly named corporate energy, chemicals leader on navigating dynamic energy transition sector

Q&A

Teresa Thomas, newly named vice chair and national sector leader for energy and chemicals at Deloitte, shares her vision in an interview. Photo via LinkedIn

Deloitte is undergoing a leadership shift — and this evolution for the nearly 200-year-old company directly affects its Houston office and the energy transition line of business.

Earlier this month, Teresa Thomas was named vice chair and national sector leader for energy and chemicals at Deloitte. Based in Houston, she will also serve as an advisory partner and leader in Deloitte & Touche LLP's Risk & Financial Advisory energy and chemicals practice. She succeeds Amy Chronis, partner at Deloitte LLP, who will continue to serve within the energy and chemicals practice until her retirement in June 2024.

In an interview with EnergyCapital, Thomas shares a bit about what she plans on focusing as she takes on her new role.

EnergyCapital: As you transition into your new role, how would you describe your focus and priorities? 

Teresa Thomas: I am excited about what lies ahead for the energy and chemicals sector. The sector is moving into the new year with strong production and a focus on returning value and achieving efficiency. The sector is innovating with new technologies, such as artificial intelligence, including generative AI. that can capture value from data to transform and reinvent business processes and optimize the workforce.

The mission for my leadership role is to grow our practice by serving our clients with world-class solutions; venture into new innovative areas that exceed the changing needs in our sector; and attract, retain, and develop the best talent across Deloitte’s four businesses. I am bullish about the sector's role in leading on the forefront through the energy transition, pioneering innovative technologies and solutions that will help solve some of society’s most pressing issues, and contributing unique and differentiated ideas to help transform the energy and chemicals sector to meet global demands in a sustainable and profitable way.

EC: How is Deloitte navigating the trends and progression of the energy transition? What are clients’ expectations, and how does the company plan to stay a step ahead?  

TT: At Deloitte, we proactively navigate the dynamic landscape of the energy transition with a strategic, collaborative, and innovative edge. Our extensive global presence and diverse partnerships, spanning industries, regions, and academic institutions, keep us abreast of emerging trends, regulatory shifts, and technological advancements. Client expectations are evolving towards sustainable practices, and we respond by providing innovative solutions that align with their goals.

Our commitment to staying a step ahead involves continuous investment in talent development and innovative technologies. Central to our strategy is taking ownership of pivotal marketplace issues and adeptly guiding clients through the intricacies of their business challenges. Through harnessing our extensive expertise that cuts across our four business, we aim to create growth opportunities and offer innovative solutions.

EC: Energy companies have been known to more slowly adopt and adapt to new technologies. Is that changing?

TT: We believe the energy and chemicals industries is at the forefront of adopting cutting-edge technologies to bolster operational efficiency, increase productivity, reduce costs, and advance safety and sustainability measures. From bringing new materials to consumers, pioneering offshore operations, transforming shale resources into one of the most competitive resources, to developing new and sustainable molecules, the industry has highlighted its adaptability. The industry continues to be a leader of groundbreaking technologies including the development of biofuels, biomaterials, carbon capture, hydrogen production, and more.

Additionally, energy companies are increasingly leveraging digital technologies, including GenAI to enhance operational efficiency, optimize resource management, and drive innovation across various segments of the industry. From interpreting seismic data and predicting reservoir behavior, to employing carbon analytics and tracking GHG emissions, the industry is transforming its operations and contributing to a more sustainable and efficient energy landscape. While there is much more to be done, we remain confident that the energy industry will continue to help lead the way in innovation.

The oil and gas industry has been increasingly investing in clean energy over recent years, wherein the clean energy investments by the oil and gas industry as a share of their upstream capex quadrupled between 2020 and 2022. Yet, this clean energy investment remains less than 2 percent of the overall clean energy investments made in 2022.

After having outperformed the broader S&P 500 by over 45 percent since 2021, the oil and gas industry faces a threefold mandate:

  1. uphold financial stability,
  2. sustain high dividends, and
  3. augment investments in low-carbon ventures.

However, the central challenge lies in scaling the energy transition while maintaining profitability and shareholder value.

EC: The chemicals sector, in particular, seems ripe for disruption with new and developing alternative materials on the scene. What do you expect to see from this industry in 2024?

TT: There is a chemicals and material transition taking place as companies are pushed to develop more sustainable, lower-carbon materials. And given that 96 percent of all manufactured goods are touched by chemistry, this transition could also be transformational. Over the next year, we expect chemical companies to continue positioning themselves for this high-tech, low-carbon future in three notable ways.

  • First, we expect companies to increase automation and digitalization to improve productivity and accelerate innovation.
  • Second, we see companies continuing to invest in circular solutions, whether it's designing materials for a sustainable end-of-life or using renewable feedstocks.
  • Third, we expect some companies to lean into the new chemicals and materials needed to support the energy transition.

EC: As a Houstonian, what do you see the city’s role amidst the future of energy?

TT: Houston is a top global city, driving transformational change and a convener to an ecosystem of players that are leading the charge in the energy transition through biofuels, biomaterials, and advanced methods for carbon capture and hydrogen production.

Although not a native, I did find the energy and chemicals sector early in my career which brought me to this dynamic city. Houston’s advanced network of partners are working together toward creating innovative solutions that are accelerating the advancement of a lower carbon future.

———

This conversation has been edited for brevity and clarity.

Teresa Thomas was named vice chair and national sector leader for energy and chemicals at Deloitte. Photo via LinkedIn

Deloitte names new Houston-based leader of energy, chemicals practice

new hire

Deloitte announced a new local leader to oversee energy and chemicals nationally.

Teresa Thomas was named vice chair and national sector leader for energy and chemicals at Deloitte. Based in Houston, she will also serve as an advisory partner and leader in Deloitte & Touche LLP's Risk & Financial Advisory energy and chemicals practice.

She will lead the strategic direction of Deloitte's energy and chemicals practice and drive program growth in the sector. Thomas succeeds Amy Chronis, partner at Deloitte LLP, who will continue to serve within the energy and chemicals practice until her retirement in June 2024.

"I am fortunate to have worked in the energy and chemicals industry for most of my career, and I'm honored to continue working with companies that are playing a pivotal role in powering progress and purpose," Thomas says in a news release. "Our industry is at the epicenter of the energy transition that can fuel tremendous potential for society, and I'm excited to be leading during this important and transformational time."

Last year, Chronis announced her retirement from Deloitte, and the company named Melinda Yee as the incoming Houston managing partner at Deloitte, a role Chronis held in addition to the title of vice chair and US energy and chemicals leader. Chronis is slated to retire in June 2024, and Yee's new role became effective this month.

Thomas has served in a variety of leadership roles and has more than 20 years of experience in the energy industry. She is used to serving multiple large clients, and developing deep C-suite and board relationships, as well as advising on future success for the business, and the industry as a whole. She was named as one of Hart Energy's 25 most influential women in energy in 2023, and is the vice chair and board member of The Rose, which is a nonprofit women's breast health organization in Southeast Texas.

"Teresa has played an integral role as strategic advisor to many of our valued energy and chemicals clients as they navigate significant transition, and her leadership, enthusiasm and vision will help shape the future of our practice," Stanley Porter, vice chair at Deloitte and U.S. energy, resources and industrials leader, says in a news release. “I am confident that Teresa brings the right vision, experience and relationships to further lead and grow the energy and chemicals sector as it experiences critical transformation and convergence."

A Texas wind energy project goes online — and more energy transition news. Photo via Getty Images

ExxonMobil breaks ground, new Houston corporate leader, and more trending energy transition news

Editor's note: It's been a busy news week for energy transition in Houston, and some of this week's headlines resonated with EnergyCapital readers on social media and daily newsletter. Trending news included news of renewable energy projects, a new corporate appointment, and more.

Houston companies partner on sustainable plastics alternative

Lummus and Citroniq say their first plant, set for completion in 2027, will produce 400,000 metric tons of green polypropylene each year. Photo via lummustechnology.com

Two Houston companies, Lummus Technology and Citroniq Chemicals, have paired up to build North American plants that produce green polypropylene.

Polypropylene is a thermoplastic used to manufacture items such as plastic packaging, plastic parts, medical supplies, textiles, and fibers. Green polypropylene is made from biomass.

Lummus and Citroniq say their first plant, set for completion in 2027, will produce 400,000 metric tons of green polypropylene each year. The plant will be at an undisclosed location in the Midwest. Read more.

Prominent Houston energy business leader to retire, successor named

Amy Chronis is passing over the local leadership reins at Deloitte to Melinda Yee. Photos courtesy

Amy Chronis, a Houston business leader within the energy industry and beyond, is retiring next summer. Her replacement has been named.

Melinda Yee will be the incoming Houston managing partner at Deloitte, replacing Chronis who held the role along with the title vice chair and US energy and chemicals leader. Chronis will retire in June 2024, and Yee's new role is effective January 2.

“Melinda has been an active and valued member of Deloitte’s Houston leadership team. She brings an impressive depth of both industry and marketplace knowledge to her new role as managing partner,” Chronis says in a news release. “I am confident that she will be a great leader for our Houston professionals and in the local community.” Read more.

Central Texas wind energy facility goes online to power Target Corp.

This new Texas wind farm is now partly powering Target Corp. Photo via swiftcurrentenergy.com

A Texas wind energy project has officially delivered and is actively providing power to its customer, Target Corp.

Boston-based Swift Current Energy, which has an office in Houston, announced this week that its 197 MW Castle Gap Wind project is operational. It has the capacity to create enough pollution-free energy to power more than 50,000 homes annually.

"Castle Gap Wind is a momentous project for Swift Current Energy as we grow our projects under asset management and operations," Eric Lammers, CEO and co-founder of Swift Current Energy, says in a news release. "Castle Gap Wind is one of the earliest projects supported by the Inflation Reduction Act, and we are thankful for our partners at Target, Goldman Sachs, MUFG, CaixaBank and of course the entire Swift Current Energy team who helped make the Project possible." Read more.

ExxonMobil breaks ground on Texas carbon dioxide storage project

The rig stands 225 feet tall and extends 8,000 feet below the subsurface. Photo via exxonmobil.com

ExxonMobil announced this month that it has officially broken ground on a groundbreaking carbon dioxide storage site.

According to a release from the company, a new rig is currently being used to gather information about an underground site in Southeast Texas. The rig stands 225 feet tall, but more importantly extends 8,000 feet below the subsurface to investigate if the site is a safe place to store carbon underground.

“Everyone’s excited about this appraisal well because we’re literally breaking ground on a new chapter of our work to help reduce industrial emissions,” Joe Colletti, who oversees carbon capture and storage development along the Gulf Coast for Exxon, says in a statement. Read more.

New study from Houston research team looks at how the Earth cycles fossil carbon

A Rice University professor studied the Earth's carbon cycle in the Rio Madre de Dios to shed light on current climate conditions. Photo courtesy of Mark Torres/Rice University

Carbon cycles through Earth, its inhabitants, and its atmosphere on a regular basis, but not much research has been done on that process and qualifying it — until now.

In a recent study of a river system extending from the Peruvian Andes to the Amazon floodplains, Rice University’s Mark Torres and collaborators from five institutions proved that that high rates of carbon breakdown persist from mountaintop to floodplain.

“The purpose of this research was to quantify the rate at which Earth naturally releases carbon dioxide into the atmosphere and find out whether this process varies across different geographic locations,” Torres says. Read more.

Amy Chronis is passing over the local leadership reins at Deloitte to Melinda Yee. Photos courtesy

Prominent Houston energy business leader to retire, successor named

news to know

Amy Chronis, a Houston business leader within the energy industry and beyond, is retiring next summer. Her replacement has been named.

Melinda Yee will be the incoming Houston managing partner at Deloitte, replacing Chronis who held the role along with the title vice chair and US energy and chemicals leader. Chronis will retire in June 2024, and Yee's new role is effective January 2.

“Melinda has been an active and valued member of Deloitte’s Houston leadership team. She brings an impressive depth of both industry and marketplace knowledge to her new role as managing partner,” Chronis says in a news release. “I am confident that she will be a great leader for our Houston professionals and in the local community.”

Yee has worked at Deloitte for over 30 years and has served as both Deloitte’s central region risk and advisory leader as well as the Houston risk and advisory leader. She also held the title of energy and chemicals leader within Deloitte’s mergers, acquisitions, and restructuring services practice. She's worked on transactions across the energy value chain, as well as waste management, manufacturing, industrials, services, retail operations and investment management, per the release.

“I am honored to have been asked to serve as the managing partner for Deloitte’s Houston practice,” Yee says in the release. “I look forward to continuing the great work Deloitte has accomplished under Amy’s leadership, delivering results for our clients and making an impact in the Houston community.”

In addition to her role at Deloitte, she serves as a board member for Junior Achievement of Southeast Texas, a member of the Energy Transition Committee for the Greater Houston Partnership, and is Audit Committee chair, director and trustee at the University of Colorado Foundation.

While no Houston business was able to break into the top 100, four did make the cut for this prestigious list. Photo via Getty Images

Annual report ranks 2 Houston energy tech companies on list of fasting growing businesses

by the numbers

Four Houston businesses made the cut on Deloitte's recently unveiled list of the fastest-growing technology companies in North America — and two are energy tech companies.

For the 29th year, 2023 Technology Fast 500 ranked top tech, media, telecommunications, life sciences, and energy technology companies based on fiscal year revenue growth from 2019 to 2022. While no Houston business was able to break into the top 100, four did make the cut for this year's list.

“It is great to see Houston represented alongside established technology hubs on this year’s Fast 500 list,” Amy Chronis, vice chair, US Energy and Chemicals Leader and Houston managing partner at Deloitte, says in a statement. “Houston is planting seeds for future innovation, and the companies named to this year’s list confirm our city’s value proposition as an innovative community. We look forward to this growth continuing in the future and extend our congratulations to this year’s Houston winners.”

Houston's two energy representatives are NatGasHub.com, a pipeline data source, at No. 356 with 364 percent growth and P97 Networks, a fintech company for gas stations, at No. 506 with 225 percent growth.

The other two Houston businesses are digital media company Direct Digital Holdings at No. 108 with 1,325 percent growth and B2B software solutions business Liongard at No. 208 with 680 percent growth

Thirty Texas companies made the list of the 541 ranked, making it the fourth most concentrated hub on the list behind the Bay Area, Tri-State Area, and New England. The companies on the list reported a revenue growth ranging from 201 percent to 222,189 percent over the three-year time frame from 2019 to 2022. The average growth rate was 1,934 percent and a median growth rate of 497 percent.

“Each year, we look forward to reviewing the progress and innovations of our Technology Fast 500 winners," Paul Silverglate, vice chair, Deloitte LLP and U.S. technology sector leader, says in the release. "This year is especially celebratory as we expand the number of winners to better represent just how many companies are developing new ideas to progress our society and the world, especially during a slow economy. While software and services and life sciences continue to dominate the top 10, we are encouraged to see other categories making their mark."

Software dominated the industry breakdown with 57 percent of the companies working in that field. However, the top company for 2023 was Vir Biotechnology Inc., a life science company that developed a COVID-19 treatment. Vir was also the top company in 2022.

Last year, only one Houston company made the list. At No. 372 Onit reported a revenue increase of 369 percent. The company also made the 2021 list, along with Graylog and Enercross.

Houston’s broad energy sector can attract engineering expertise and clean tech talent, serving as a locus for knowledge-sharing on the financial and operational challenges ahead in the energy transition. Photo via Getty Images

Houston can help unlock the key to a viable energy transition

guest column

The future of energy holds monumental and diverse expectations. Houston’s long history as the hub for oil and gas development – combined with its growing and important role in development of renewables, carbon capture, and other energy innovation – makes it a critical meeting point for discussions on strategy, investment, and stakeholder engagement in the energy transition.

In our research last fall, we detailed how the oil and gas industry was embracing capital discipline and prioritizing shareholder returns. The industry generated record cash flows and offered a combined dividend and share buyback yield of 8 percent in 2022—the highest among all industries. The industry’s commitment to maintaining capital discipline and investing in viable low-carbon projects has only strengthened in 2023.

In fact, according to our most recent research, the global upstream oil and gas industry is estimated to generate between $2.5 trillion to $4.6 trillion in free cash flow between 2023 and 2030. With capital availability not posing a significant constraint, boardrooms of oil and gas companies are engaged in discussions regarding capital allocation between hydrocarbons and low-carbon solutions, while striving to achieve desired rates of return and meet stakeholder expectations for dividend payouts.

What are the different expectations surrounding the energy transition that could potentially influence the capital allocation strategy or deployment of this free cash flow? Deloitte recently surveyed 150 industry executives and 75 institutional investors globally to find out how respondents expect capital to be deployed either back into the core business, back to shareholders, or into new low-carbon fuels and technologies.

Interestingly, while oil and gas investors and executives tend to agree on many issues, our research also indicated several key areas where expectations of the energy transition diverge.

Energy transition investment potential

Industry executives generally continue to apply discipline in evaluating bankable low-carbon projects, giving investors a chance to direct the dividends they receive into promising energy transition technology. However, sixty percent of executives we surveyed stated that they would invest in low-carbon projects only if the internal rate of return (IRR) from these projects exceeds 12 percent to 15 percent. These returns are a minimum for the industry to fund its base hydrocarbon capital expenditures and meet dividend commitments. For context, in 2022, the average IRR for most renewable power projects was less than 8 percent. Because overall, oil and gas companies are focused on returning value to shareholders, the comparatively lower IRR on some low-carbon projects can make the choice regarding these investments more difficult.

Changes in dividend payout contingent on minimum yield

Many oil and gas executives surveyed also placed higher priority on continuing to provide high dividend yield than some of the investors surveyed. Almost 50 percent of executives indicated that, in their view, dividend cuts could drive away investors. However, about 80 percent of the investors queried said they would likely continue to hold oil and gas stocks – even if companies slightly reduced dividends – to accelerate investments in lower-carbon technologies. However, three-fourths of investors said they required at least a 3 percent dividend yield.

The right technology

About 75 percent of low-carbon technology is still experimental or in early stages of development. Executives seem to remain focused on fuels and technologies — natural gas, hydrogen, carbon capture and storage — that are adjacent to their core businesses. Investors surveyed, on the other hand, tend to favor transformative technologies, such as battery storage and electric vehicles. About 43 percent of investors emphasized battery storage as a promising area.

Our research underscores the importance of immediate action to close the innovation gap. As the Energy Capital of the World, home to 4,700 energy-related organizations, Houston is positioned to lead the way. Houston’s broad energy sector can attract engineering expertise and clean tech talent, serving as a locus for knowledge-sharing on the financial and operational challenges ahead in the energy transition.

———

Amy Chronis is vice chair of US Energy and Chemicals Leader and Houston managing partner at Deloitte LLP.

Kate Hardin is executive director at Deloitte Research Center for Energy and Industrials.
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CenterPoint reports grid resilience updates as hurricane season begins

hurricane readiness

As hurricane season descends upon the region, CenterPoint Energy has shared the latest update on its Greater Houston Resiliency Initiative (GHRI) that’s been working to make grid upgrades and introduce weather-related tech since 2024.

As of April 2026, CenterPoint had:

  • Replaced more than 65,000 poles with stronger storm-resistant infrastructure
  • Trimmed or cleared more than 10,000 miles of vegetation
  • Undergrounded more than 500 miles of power lines
  • Installed more than 600 automation devices
  • Installed more than 150 weather stations

In May, CenterPoint announced its new Community Progress Tracker, which helps residents track electronic infrastructure improvements. In terms of other technology, CenterPoint has announced its partnership with weather, wildfire and flood modeling software Technosylva. The software is expected to help CenterPoint track weather conditions in advance to better prepare crews.

CenterPoint has also added 150 weather stations to improve weather monitoring, conducted a full-scale hurricane response exercise involving more than 400 employees and completed more than 25,000 hours of FEMA training across more than 800 employees. The company opened a new year-round Emergency Operations Center to help coordinate with emergency response partners, local and state officials, and media during major weather events.

“We are proud of the progress made in 2025, which helped deliver more than 100 million fewer outage minutes when compared to 2024, and we are determined to make even more progress in 2026 as we work toward our defining goal: building the nation's most resilient coastal grid,” Nathan Brownell, CenterPoint's vice president of resilience and capital delivery, previously said in a news release.

According to the company, the GHRI aims to improve overall grid resiliency and reliability and to reduce outages for customers. CenterPoint projects its efforts can reduce customer outages by 150 million by the end of 2026.

Energy expert: Why Houston's 100-degree days matter more than 5 years ago

guest column

If you are a Houston native or have lived in the city since the 1980s, you likely remember when a 100-degree day was so rare it made the local news. There were heat advisory warnings, with special attention to the midday hours, because the heat exposure carried with it risks like dehydration, heat stroke and extreme exposure to UV rays.

In this new era for our city and state, 100-degree days are becoming more common. Our local weather forecasters still report on the occurrence, but we are no longer able to restrict our activities as heavily.

The climate has changed rapidly, and Texans are navigating our collective response to the increased heat that has serious implications for our health, energy supply, economy and regional life.

Houston Has Always Been Hot, But This Heat is Different

Houston has expanded exponentially in the last few decades, doubling its population from roughly 1.4 million in 1976 to 2.4 million today. When we account for the growth in the surrounding suburbs, the population boom nearly quintuples.

Houston and the surrounding suburbs now total nearly 7 million people, a huge population increase that brings greater demand for energy. This demand impacts our infrastructure, energy availability, consumer costs, workforce productivity and water supply significantly. With these additions comes more asphalt and fewer trees. With less tree cover and green space, heat gets trapped, increasing temperatures in the city.

We are not just inheriting rising temperatures; we are also building hotter cities.

100-Degree Days and The Texas Grid

I have written before about our grid capacity, changes facing Texas, and the strain that we have seen on the grid. While redundancies in the Texas grid are improving, the pace of this change continues to pose challenges for our area.

The extreme heat has now made air conditioning mandatory for a greater percentage of days during the calendar year. AC units (large and small) are no longer cycling on and off as they are designed to run; instead, most systems are running continuously to meet the needs of Texans.

Daily activities and devices, including remote work, the AI boom, physical exercise, children’s playtime, charging multiple devices, and streaming entertainment, require much more cooling than in previous generations, producing a much larger demand on the grid.

Additionally, the way Houstonians live at home has also changed. Homes across America are much larger on average than they were in the 1980’s. Also, with the rise of remote work, there is a greater need for all-day electricity in each individual household. These factors, combined with the exponential increase in the number of devices and appliances used in households, significantly affect energy demand in our region.

Of course, we’re also seeing massive usage of electricity from large business users (warehouses, data centers, and more), including empty office buildings as return-to-office is slower than expected post-pandemic.

Heat is Not the Only Culprit

As Houston is a coastal city, we not only have to contend with 100-degree temperatures, but humidity also adds an extra layer of complexity to our climate. Thanks to the humidity, temperatures stay elevated for longer periods, meaning everything is retaining heat at a higher rate and for longer than ever before.

The heat never really leaves us anymore, as we don’t have cooler nights to help balance these very hot days. The compounding effect of extreme temperatures and high humidity makes energy demand higher in our region than in places like the New Mexico desert.

Economic Impact on Our Region

Extreme heat hits Texans’ wallets long before a weather alert ever pops up. When temperatures stay above 100 degrees for days at a time, air conditioners are basically working overtime, which sends electricity bills climbing.

And the harder those systems run, the more wear and tear homeowners end up dealing with, usually at the worst possible time, like the middle of July when a boom of AC units decide to quit at once. Meanwhile, roads, transformers and other infrastructure are all under more stress than they were originally built for.

There’s also a much bigger ripple effect that people don’t always think about. When it’s dangerously hot outside, construction crews, energy workers, landscapers, and other outdoor industries simply can’t operate the same way, which slows productivity and raises safety concerns.

Cities are also spending more money on cooling centers and heat-related emergency response, and over time, all of those rising costs have a way of showing up somewhere, whether that’s insurance rates, utility costs or the price communities pay to keep up with extreme weather.

The Opportunity for Houston

Texas is becoming a real-time test case for what happens when extreme heat, rapid growth, and massive energy demand all hit at once. While problematic, it also creates a huge opportunity for Houston and the Texas energy sector to lead. If there’s any place equipped to determine what the future of energy resilience looks like, it’s the city that already powers so much of the world’s energy conversation.

And the solution isn’t just “create more electricity.” It’s about building a smarter, more flexible system overall with better grid technology, battery storage, stronger infrastructure, more efficient building, and energy systems that can handle these extreme weather swings without everything feeling stressed at once. The reality is that a lot of what Texas figures out over the next few years could become the blueprint for other cities and states across the country.

Houston is already testing some of these smarter resilience strategies, such as microgrids, stronger substations, and more flexible energy systems designed to keep critical facilities running during major storms or outages. The goal is simple: build a grid that can take a hit without everything feeling strained all at once.

Going Forward

Hotter days are here to stay. We can’t stop our lives amid the extreme heat, so we have to find ways to adapt and we have to do it quickly. If there’s one thing Texas has always done well, however, it’s innovate under pressure. The communities, companies and energy leaders that move fastest now won’t just be responding to the future, they’ll be helping define it.

———

Sam Luna is director at BKV Energy, where he oversees brand and go-to-market strategy, customer experience, marketing execution, and more.

Houston lands 27 Fortune 500 headquarters, led by energy heavyweights

HQ leader

Houston is a giant among U.S. hubs for corporate headquarters.

The 2026 Fortune 500 lists 27 companies based in the Houston area, with many energy companies claiming top spots. Houston ties with Chicago for the second-most Fortune 500 headquarters, preceded only by New York City (53). Dallas-Fort Worth is home to 23 Fortune 500 headquarters.

Texas leads the nation for Fortune 500 headquarters (57), with California in the No. 2 spot and New York at No. 3.

“Texas is the undisputed headquarters of headquarters,” Gov. Greg Abbott said in a news release. “The world’s leading businesses invest with confidence in Texas because of our welcoming business climate, predictable regulatory environment, and skilled and growing workforce. People and businesses are choosing Texas because Texas works.”

The 2026 Fortune 500 ranks the largest U.S. corporations based on revenue in fiscal year 2025.

Here’s a rundown of the 27 Fortune 500 companies based in the Houston area.

  • No. 9 ExxonMobil
  • No. 21 Chevron
  • No. 29 Phillips 66
  • No.55 Sysco
  • No. 75 ConocoPhillips
  • No. 89 Enterprise Products Partners
  • No. 103 Plains GP Holdings
  • No. 133 Hewlett Packard Enterprise
  • No. 149 NRG Energy
  • No. 157 Quanta Services
  • No. 164 Baker Hughes
  • No. 173 Occidental Petroleum
  • No. 179 Waste Management
  • No. 201 EOG Resources
  • No. 204 Group 1 Automotive
  • No. 207 Halliburton
  • No. 223 Cheniere Energy
  • No. 236 Corebridge Financial
  • No. 262 Targa Resources
  • No. 266 Kinder Morgan
  • No. 388 Westlake
  • No. 435 CenterPoint Energy
  • No. 438 APA
  • No. 440 Comfort Systems USA
  • No. 455 NOV
  • No. 488 KBR
  • No. 496 Coterra Energy. Oklahoma City, Oklahoma-based Devon Energy and Houston-based Coterra Energy merged in early May, with the combined company retaining the Devon Energy name and the Houston headquarters.

The Greater Houston Partnership notes the Houston area soon will welcome its 28th Fortune 500 company. Expand Energy (formerly Chesapeake Energy), appearing at No. 362 on the 2026 list, says it’s moving its headquarters from Oklahoma City to Spring this year.

As the natural gas producer prepares to relocate to Texas, it’s hunting for a new leader. Nick Dell’Osso stepped down as president and CEO earlier this year. Board Chairman Michael Wichterich is interim president and CEO.

Dell’Osso became president and CEO of Oklahoma City-based Gulfport Energy effective May 28.

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