Houston geothermal startup adds former BP, Calpine execs to C-suite

new leaders

Al Vickers, XGS Energy's new COO, and Richard Chong, the company's new CFO. Photos courtesy XGS/LinkedIn

XGS Energy, a Houston-based developer of geothermal power systems, has added several energy industry veterans to its C-suite this summer.

The company named Al Vickers as its new chief operating officer earlier this month. Vickers will replace Ghazal Izadi in the role, as she moves into the chief growth officer position.

Vickers previously served as CEO of BP's U.S. Low Carbon Energy business and most recently was COO of Houston-based Grid United, which develops next-generation transmission infrastructure.

“I have spent my career developing, building, and operating large, complex energy infrastructure, and I am excited to work with XGS’s proven technology, which is ready to deliver clean, round-the-clock power at the scale the grid and customers need,” Vickers said in a news release. “XGS sits at the intersection of innovation, affordability, demand growth, responsible infrastructure development, and long-term energy resilience. I’m excited to roll up my sleeves and apply best practices from both oil and gas and infrastructure development to deliver gigawatt-scale geothermal projects.”

Kurt Fricker, who most recently held leadership roles at Hess Corporation, was also announced as XGS's new chief procurement officer.

The hires come shortly after XGS announced Richard Chong as its new chief financial officer in May.

Chong joins XGS from Houston-based power producer Calpine, where he most recently was vice president of finance. His work there included leading $2.25 billion in financing for Geysers, the world’s largest geothermal power complex.

Chong says XGS’ proven technology and the rising demand for clean power will help the company execute on its multi-gigawatt pipeline.

“I look forward to applying the experience I’ve built over two decades in energy finance to help XGS deliver clean, reliable power to customers and unlock the massive development opportunity ahead for next-generation geothermal,” Chong said in the release.

XGS’ first project is a 150-megawatt geothermal facility in New Mexico. It will supply around-the-clock electricity to the grid operated by Public Service Co. of New Mexico in support of Meta data centers.

XGS recently tapped Houston-based energy technology company Baker Hughes to provide engineering services for the New Mexico project.

XGS’ geothermal system uses thermally conductive materials to deliver affordable energy anywhere hot rock exists — without the need for water resources or specific geological conditions. This results in lower-risk projects, more site options, easier permitting and faster deployment.

Since 2023, XGS has raised nearly $57 million in venture capital.

XGS launched in 2008 in Palo Alto, California, as Geothermic Solution. In conjunction with its Series A round in 2023, the company rebranded to its current name. The company recently moved its headquarters to Houston, according to the Houston Business Journal.

From Your Site Articles

With the deal, Chevron gets access to one of the biggest oil finds of the decade. Photo via Chevron

Chevron gets green light on $53 billion Hess acquisition

Mega Deal

Chevron has scored a critical ruling in Paris that has given it the go-ahead for a $53 billion acquisition of Hess and access to one of the biggest oil finds of the decade.

Chevron said Friday that it completed its acquisition of Hess shortly after the ruling from the International Chamber of Commerce in Paris. Exxon had challenged Chevron’s bid for Hess, one of three companies with access to the massive Stabroek Block oil field off the coast of Guyana.

“We disagree with the ICC panel’s interpretation but respect the arbitration and dispute resolution process,” Exxon Mobil said in a statement on Friday.

Guyana is a country of 791,000 people that is poised to become the world’s fourth-largest offshore oil producer, placing it ahead of Qatar, the United States, Mexico and Norway. It has become a major producer in recent years.

Oil giants Exxon Mobil, China’s CNOOC, and Hess squared off in a heated competition for highly lucrative oil fields in northern South America.

With Chevron getting the green light on Friday, it is now one of the major players in the Stabroek.

“We are proud of everyone at Hess for building one of the industry’s best growth portfolios including Guyana, the world’s largest oil discovery in the last 10 years, and the Bakken shale, where we are a leading oil and gas producer,” former Hess CEO John Hess said in a statement. “The strategic combination of Chevron and Hess creates a premier energy company positioned for the future.”

Chevron also said that on Thursday the Federal Trade Commission lifted its earlier restriction, clearing the way for John Hess to join its board of directors, subject to board approval.

Chevron announced its deal for Hess in October 2023, less than two weeks after Exxon Mobil said that it would acquire Pioneer Natural Resources for about $60 billion.

Chevron said at the time that the acquisition of Hess would add a major oil field in Guyana as well as shale properties in the Bakken Formation in North Dakota.

“Given the significant value we’ve created in the development of the Guyana resource, we believed we had a clear duty to our investors to consider our preemption rights to protect the value we created through our innovation and hard work at a time when no one knew just how successful this venture would become,” Exxon Mobil said Friday. “We welcome Chevron to the venture and look forward to continued industry-leading performance and value creation in Guyana for all parties involved.”

Chevron's stock rose more than 3% before the market open, while shares of Hess surged more than 7%. Exxon's stock climbed slightly.

Chevron has a new speed bump on the road to a big acquisition. Photo via Chevron

Chevron's $53B acquisition of Hess Corp. sees hiccup

speed bump

Chevron warned Monday that its pending $53 billion acquisition of Hess may be in jeopardy because it will require the approval of Exxon Mobil and a Chinese national oil company, which both hold rights to development of an oil field off the coast of the South American nation Guyana.

The disclosure in a filing with the Securities and Exchange Commission raised investor qualms, depressing shares of both Chevron and Hess. Chevron's stock price fell 3% Tuesday morning before rebounding; Hess stock lost 4% of its value but bounced back slightly.

Chevron's acquisition of Hess would add this major oil field in Guyana as well as shale properties in the Bakken Formation in North Dakota. Guyana is a country of 791,000 people that is poised to become the world’s fourth-largest offshore oil producer, placing it ahead of Qatar, the United States, Mexico and Norway. It has become a major producer in recent years, with oil giants including Exxon Mobil, China’s CNOOC, and Hess squared off in a heated competition for highly lucrative oil fields in northern South America.

Chevron said it's been engaged in discussion with Exxon and CNOOC, aka China National Offshore Oil Co. Both companies hold rights of first refusal for decisions regarding the oil field in question, known as the Stabroek Block. Exxon Mobil operates the Stabroek Block and holds 45% interest. Hess holds 30% interest, and CNOOC holds the remaining 25% interest. Production capacity at the field is expected to reach more than 1.2 million barrels per day by the end of 2027, Exxon said in November.

If those discussions and subsequent arbitration fail to set aside those first refusal rights, Chevron said, “the merger would not close.”

Companies including Houston-based Chevron and Hess and BP, each with a Houston presence, offered bids. Photo via Getty Images

Houston oil companies offer $382M for drilling rights in Gulf of Mexico in last offshore sale before 2025

for sale

Last month, oil companies offered $382 million for drilling rights in the Gulf of Mexico on Wednesday after courts rejected the Biden administration's plans to scale back the sale to protect an endangered whale species.

The auction was the last of several offshore oil and gas lease sales mandated under the 2022 climate law. It comes as President Joe Biden’s Democratic administration tries to navigate between energy companies seeking greater oil and gas production and environmental activists who want to stop new drilling to help combat climate change.

Companies including Houston-based Chevron and Hess and BP, each with a Houston presence, offered bids on more than 300 parcels covering 2,700 square miles (7,000 square kilometers), according to the U.S. Department of Interior's Bureau of Ocean Energy Management.

The dollar amount of the successful bids marked a sharp increase from the previous sale in March 2023, when the Interior Department awarded leases covering about 2,500 square miles (6,500 square kilometers) for $250 million.

The next sale will be conducted in 2025, to the frustration of energy companies and Republicans who say the administration is hampering U.S. oil production.

Wednesday's online auction was originally scheduled for September but got delayed by a court battle after the administration reduced the area available for leases from 73 million acres (30 million hectares) to 67 million acres (27 million hectares) as part of a plan to protect the endangered Rice’s whale.

Chevron, Shell Offshore, the American Petroleum Institute and the state of Louisiana sued to reverse the cut in acreage and block the inclusion of the whale-protecting measures in the lease sale provisions.

A federal judge in southwest Louisiana ordered the sale to go on without the whale protections, which also included regulations governing vessel speed and personnel. Environmental groups appealed, but the New Orleans-based 5th Circuit Court of Appeals last month rejected their arguments against the sale and threw out the plans to scale it back.

The lease sale was required under a compromise with Democratic Sen. Joe Manchin of West Virginia, a supporter of the oil and gas industry who cast the deciding vote in favor of the landmark climate law. The measure was approved with only Democratic votes in Congress. Under the terms negotiated by Manchin, the government must offer at least 60 million acres of offshore oil and gas leases in any one-year period before it can offer offshore wind leases that are part of its strategy to fight climate change.

Only a small portion of parcels that are offered for sale typically receive bids, in areas where companies want to expand their existing drilling activities or where they foresee future development potential.

The administration in September proposed up to three oil and gas lease sales in the Gulf of Mexico over the next five years and none in Alaska waters. That was the minimum number the administration could legally offer if it wants to continue expanding offshore wind development.

Environmental groups criticized the five-year plan as a “missed opportunity” to stop the expansion of oil and gas drilling in the Gulf of Mexico and address climate change.

“New oil and gas operations (in the Gulf) will only bring more health risks to Gulf Coast communities and slow our transition to a clean-energy economy,'' said Earthjustice attorney Brettny Hardy.

The industry, meanwhile, said more sales are needed — and sooner.

“In our forward-thinking industry, securing new lease blocks is vital for exploring and developing resources crucial to the U.S. economy,'' said National Ocean Industries Association President Erik Milito. “The Gulf of Mexico is a prime economic engine and investment area, and this (lease sale) was the last chance for companies to secure leases in the near term.''

Holly Hopkins, API vice president of upstream policy, called Wednesday's sale "a "positive step after multiple delays,'' and noted that it generated the highest dollar value for bids in nearly a decade.

The results demonstrate that the oil and gas industry “is working to meet growing demand and investing in the nation’s long-term energy security,'' Hopkins said. “Just as today’s record U.S. production was supported by investment and policy decisions made years ago, new leasing opportunities are critical for maintaining American energy leadership for decades to come.''

The administration's clean-energy ambitions have been hampered by recent project cancellations including two large wind projects shelved last month off the New Jersey coast and the earlier cancellation of three projects that would have sent power to New England.

Ad Placement 300x100

Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

Meet the 80+ startups pitching at Houston Energy and Climate Week

Pitch Lineup

One of the highlights from Houston Energy and Climate Week is hearing directly from the up-and-coming founders working to reshape the energy landscape.

This year, dozens of startups from Brazil to Berkeley and from right here in the Bayou City will compete for cash prizes and bragging rights while showcasing their concepts at HECW pitch events. Here's who's pitching at some of the week's signature competitions. Check back after the week wraps to see who takes home the top prizes.

Cypher Pilotathon and Startup Showcase — Sept. 15 at POST Houston

At the Cypher Pilotathon, founders will give their best 7-minute pilot pitches to industry experts and a live audience, followed by Q&A. This year's event will center around the theme, "The NEW Energy Industrial Revolution." Here's who's pitching:

Houston-based Aeromine Technologies, a distributed wind turbine company
San Francisco-based Ammobia, which develops low-carbon, energy source-agnostic ammonia
Birmingham, Alabama-based Ashipa Electric, a renewable energy semiconductor and microgrid manufacturer
Houston-based BigMachine AI, an AI engineer for industrial projects
Houston-based Corrolytics, which has developed corrosion detection technology
São Paulo, Brazil-based GLR Tech, which has developed a compact, scalable, low-cost platform for industrial emissions control
Monreal-based Green Graphite Technologies, which produces battery-grade graphite in a cost-effective and sustainable manner
Boston-based KIRA, which converts industrial wastewater into ultrapure water and solids
Edinburgh-based Mocean Energy, which works to deliver renewable ocean energy to power offshore industry
Los Angeles-based Mote, which works to convert agricultural and forestry waste into clean energy
Berkeley-based Oleo, which is developing a biomanufacturing platform to transform biomass waste into carbon-negative, cost-competitive oil feedstocks for advanced fuels
Oslo, Norway-based OTee, an automation machinery manufacturer
Houston-based Resollant, which is working to produce battery-grade graphite and ultra-low-cost hydrogen
Tulsa-based RyuGen Energy Solutions Inc., which works to turn underused commercial power into distributed AI infrastructure
Berkeley-based Sunchem, which provides precision separation of critical metals from sources including e-waste, evaporator scrap, solar panels, and mining ores and concentrates

Twenty-two other startups will participate in the startup showcase. See the full list here.

Greentown Climatetech Summit — Sept. 16 at the Continental Club

Ten Greentown startups will compete for $25,000 in prizes at Greentown Climatetech Summit's signature pitch event. Judges include Dave Dreessen, of Chevron Technology Ventures’ Future Energy Fund, and Jon Greene, of New Climate Ventures. Here's who's pitching:

Houston-based AMPeers, which manufactures high-temperature superconducting wire for high-power electrification infrastructure
Detroit-based AmHyTech, which enables ambient-condition liquid ammonia handling for fertilizer and fuel applications
Houston- and Zurich-based Biosimo, which converts biomass-based ethanol into lower-carbon acetic acid and acetyls
Houston-based Capwell Services Inc., which captures methane from low-flow oil and gas vents and returns it to market
Cleveland- and Ghana-based Cocoa Potash, which extracts potassium carbonate and fertilizer from cocoa, coconut, and palm-nut waste
Houston-based Solidec, which electrolyzes air, water, and electricity into onsite hydrogen peroxide.
Houston-based Focis AI, which converts industrial laser scans into a queryable digital twin of refineries and plants
Calgary-based Kanin Energy, which develops and finances waste heat to power projects for industrial clients
San Francisco-based FelixFusion, which models grid connection points so developers can validate interconnection in minutes
Houston-based Pike Robotics, which deploys its Wall-Eye robot to inspect hazardous tanks without taking assets offline

TEX-E Student Innovators will also pitch earlier in the day-long event, and an additional five Greentown startups will compete for $1,000 during the Lightning Pitch Competition. Find more information here.

Rice Alliance Energy Tech Venture Forum — Sept. 17 at Rice University’s Jones Graduate School of Business

Houston-based companies Aquanta Vision, Capwell Services and Deep Anchor Solutions will be joined by startups from around the world to compete to be named one of the 10 Most Promising Companies at the 23rd Energy Tech Venture Forum. Additional companies will participate in office hours.

See the full list of nearly 50 companies pitching here.

Halliburton Labs Pitch Day — Sept. 18 at the Ion

Halliburton Labs Pitch Day brings together a curated group of early‑stage energy technology investors and 16 participating companies. The event is invitation‑only. Here's who's pitching:

Australia-based Aquafortus, which has developed a non-thermal liquid to liquid desalination technology for resource recovery from wastewater brine
Calgary-based Ayrton Energy, which has developed a proprietary technology that enables hydrogen to be stored within an organic liquid, which can be handled and transported like gasoline
Illinois-based Cache Energy, which is developing electrified heat and long-term energy storage
New York-based Cella, which is working to advance subsurface mineralization of CO2
Miami-based Chemergy, which has developed a patented process to convert wet organic and plastic wastes into green hydrogen
Tennessee-based Enexor BioEnergy, which is developing on-site waste-to-bioenergy conversion systems
Reno-based Espiku, which focuses on water and minerals recovery from industrially produced water
UK-based LiNa Energy, which is developing low-cost, solid-state sodium battery technology
Michigan-based Marel Power Solutions, which is developing advanced cooling technology to redefine power-stacks
California-based Mitico, which is developing technology to collect and purify carbon dioxide at the source, post-combustion, before it enters the atmosphere
Singapore-based Nandina REM, which turns end-of-life assets into new, reliable, high-performance carbon fiber materials for the aviation, aerospace and defense industries
California-based Noon Energy, which is developing a 100-plus-hour ultra-long-duration battery storage
Silicon Valley-based Proof Energy, which is commercializing next-generation metallic solid oxide fuel cell (M-SOFC) technology.
Berkeley-based Sunchem, which provides precision separation of critical metals from sources including e-waste, evaporator scrap, solar panels, and mining ores and concentrates
Singapore-based Sungreen, an advanced materials company pioneering nanotechnology-based coatings for high-efficiency, low-cost electrodes
Minneapolis-based Syncris, which is developing next-generation modular power systems designed for the most demanding environments

Read more about Houston Energy and Climate Week and its programming in Energy Capital's event preview.

KBR's Mission Technology Solutions spinoff awarded $1.1B NOAA contract

A Big Deal

Amid a major spinoff, Houston-based KBR's Mission Technology Solutions business has been awarded a five-year contract for up to $1.1 billion from NOAA’s National Weather Service to help predict and combat extreme weather conditions.

Under the follow-on Commercial Data Program National Mesonet Program (CDP NMP) contract, KBR will provide weather and observational data from commercial stations, university and research campuses, and other non-federal providers nationwide. The information collected will assist in predicting severe temperatures and high-impact weather conditions like extreme storms.

"This award underscores KBR's proven track record of delivering vital data that strengthens national forecasting capabilities," Todd May, KBR’s senior vice president of Mission Technology Solutions, said in a news release.

According to a separate release from NOAA, the contract expands upon KBR's existing relationship with the agency. KBR will work with about 70 private industry partners on services such as data recording, collection, aggregation and processing, and will lead the CDP NMP's "network of networks."

“NOAA gathers environmental information from a wide variety of sources, and a growing list of private industry partners have joined our agency to collect this vital data,” Ken Graham, director of NOAA’s National Weather Service, said in the release. “This agreement streamlines the process that turns raw data into the gold-standard forecasts that Americans depend on.”

KBR will utilize its Speed to Mission ImpactSM technology for the project to supply data from across regions, measurement types, and system configurations. Both KBR and NOAA say the expanded data collection contract will help the agency create more accurate and timely forecasts, particularly for severe weather and extreme events, while also creating a path for new weather-observation technologies.

KBR has supported the CDP NMP for more than nine years. The program will be managed in Greenbelt, Maryland.

"We're driving expanded integration of commercial sensor and data sources into this platform and are honored to know our work helps forecasters give their communities earlier warnings and more time to prepare for dangerous weather,” May added in a release.

KBR’s Mission Technology Solutions business will be rebranded as Trinzic after its planned spin-off, the company announced last month. The spin-off is expected to close in January 2027.

Trinzic will work as an independent, publicly traded company focused on technology and engineering services for the space and national security sector. KBR will remain a separate publicly traded company that will focus on sustainable technology and services to support the energy transition.

---

This article originally appeared on InnovationMap.com.

Houston researchers map data center growth, trends in new interactive platform

data center development

Have you ever wondered why data centers are located where they are?

Energy experts at Rice University’s Center for Energy Studies (CES) have developed a tool to help answer that question.

Rice researchers at the CES, part of Rice’s Baker Institute for Public Policy, have created an interactive map to track data center growth and energy infrastructure in the United States.

Kenneth B. Medlock III, Miaomiao Rimmer, Anmol Mital and Beck Edwards developed the tool, known as the U.S. Data Centers and Infrastructure map. It aims to provide a comprehensive view of the factors shaping where data centers are located, from power and water costs to infrastructure, public policy and local sentiment.

“The map lets you see why data centers are being built where they are by connecting the dots between infrastructure, power costs, water availability, public policy and public sentiment across different regions,” Medlock, senior director at CES, said in a news release. “You can zoom out and look at the whole U.S. to easily realize why data centers locations are being chosen—the price of power and water matters.”

The tool maps information on data center locations against other factors like energy, water, economics and politics. It also shows existing infrastructure in the area, including electric transmission lines, power plants, and fiber-optic networks, and provides information on water stress, electricity prices and natural gas prices.

According to Rice, the map will be updated in real time and currently includes information on existing data centers and proposed data centers.

Additionally, the map provides county-level analyses of news coverage and media to explore local attitudes towards the development of data centers in communities. Users can also explore political and demographic information.

According to the Pew Research Center, most data centers that are being built will appear in rural areas, with Virginia, Texas and Georgia leading the way in the number of planned facilities. Pew’s 2026 findings also noted that 38 percent of Americans live within 5 miles of at least one operational data center.

Meanwhile, Houston and Texas are poised for continued data center growth. Other reports predict that Houston’s data center capacity could more than double by 2028. Texas is home to an estimated 400-plus data centers, according to commercial real estate services provider CBRE.

View All Listings

ENERGYCAPITALHTX EMAILS ARE AWESOME