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Houston robotics company partners with Marathon Petroleum to scale fleet

robot alliance

Square Robot has landed funding and a new partnership with Marathon Petroleum. Photo courtesy of Square Robot

Houston- and Boston-based Square Robot Inc. has announced a partnership with downstream and midstream energy giant Marathon Petroleum Corp. (NYSE: MPC).

The partnership comes with an undisclosed amount of funding from Marathon, which Square Robot says will help "shape the design and development" of its submersible robotics platform and scale its fleet for nationwide tank inspections.

“Marathon’s partnership marks a major milestone in our mission to transform industrial tank inspection,” David Lamont, CEO of Square Robot, said in a news release. “They recognize the proven value of our robotic inspections—eliminating confined space entry, reducing the environmental impact, and delivering major cost efficiencies all while keeping tanks on-line and working. We’re excited to work together with such a great company to expand inspection capabilities and accelerate innovation across the industry.”

The company closed a $13 million series B last year. At the time of closing, Square Robot said it would put the funding toward international expansion in Europe and the Middle East.

Square Robot develops autonomous, submersible robots that are used for storage tank inspections and eliminate the need for humans to enter dangerous and toxic environments. Its newest tank inspection robot, known as the SR-3HT, became commercially available and certified to operate at a broader temperature range than previous models in the company's portfolio this fall.

The company was first founded in the Boston area in 2016 and launched its Houston office in 2019.

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These Houston energy companies have made it on the list of top employers. Photo via Getty Images

Houston-based energy companies hailed best places to work by U.S. News

Top cos.

More than a dozen Houston-based companies are sharing the spotlight in U.S. News and World Report's collection of the "Best Companies to Work For" in 2024-2025, including several of the Bayou City’s energy companies.

The annual report examines publicly-traded companies around the world to determine the best employers based on six metrics including work-life balance and flexibility; quality of pay and benefits; job and company stability; career opportunities and professional development; and more. The companies were not ranked, but included based on reader surveys and publicly available data about each workplace.

New for the 2024-2025 report, U.S. News analyzed 549 companies across 29 different lists, including the overall best companies list — which includes the best 300 companies across the U.S., the United Kingdom, Ireland, Switzerland, Luxembourg, and Bermuda — 24 industry-specific lists, and four regional lists.

There were 16 total companies based around Houston that made the lists, with the majority being based in the city, while one each were located in Spring and The Woodlands.

Independent energy company Marathon Oil was the top-rated Houston energy employer, with nearly 1,700 employees, an annual revenue stream of $6.38 billion, and a $15.4 billion market cap. The company was specifically highlighted with a "Top Quality of Pay" label, but also boasts high ratings for its employees' work-life balance, job stability, and belongingness.

In addition to being included in the overall "Best Companies" list, Marathon Oil earned recognition in the industry-specific "Best in Energy" list and the "Best Companies in the South" list.

A second Houston-based energy company earning a spot among the top employers is Occidental (also known as Oxy). The petroleum corporation, which has been in operation since 1920, has nearly 12,600 employees and brings in $27,43 billion in revenue every year.

According to U.S. News, Occidental offers many financial, health and wellness, and workplace benefits including 401k matching, tuition assistance, an employee assistance program, flexible work arrangements, and much more. The company was also given a "Top Quality of Pay" designation.

Occidental appeared in U.S. News' "Best in Mining and Raw Materials," the overall "Best Companies," and "Best Companies in the South" lists.

The other top energy employers include:

  • Southwestern Energy Company, Spring – Best in Energy; Best Companies (overall); Best Companies in the South
  • ConocoPhillips – Best in Energy, Best Companies in the South
  • Cheniere – Best in Energy
  • EOG Resources – Best in Energy
  • Murphy Oil Corporation – Best in Energy

"Prospective and current employees understand the significant impact their employer has on their quality of life," said Carly Chase, vice president of careers at U.S. News and World Report, in a release. "Whether a new grad seeking a company to launch their career, an established professional looking for a change or an HR professional researching the strengths of their company and others, Best Companies to Work For provides a central space to see which companies are meeting their employees' needs best.
The full list of the best companies to work for can be found at usnews.com

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This article originally ran on CultureMap.

The deal to combine the two Houston-headquartered companies is valued at $22.5 billion when including $5.4 billion in debt. Photo via conocophillips.com

ConocoPhillips buying Marathon Oil for $17.B in all-stock deal as energy prices rise

M&A moves

ConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion as energy prices rise and big oil companies reap massive profits.

The deal to combine the two Houston-headquartered companies is valued at $22.5 billion when including $5.4 billion in debt.

Crude prices have jumped more than 12% this year and the cost for a barrel rose above $80 this week. Oil majors put up record profits after Russia's invasion of Ukraine in 2022 and while those numbers have slipped, there has been a surge in mergers between energy companies flush with cash.

Chevron said last year that it was buying Hess in a $53 billion acquisition, though that deal faces headwinds. The company warned the buyout 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 where Hess is a big player.

In July of last year, Exxon Mobil said that it would pay $4.9 billion for Denbury Resources, an oil and gas producer that has entered the business of capturing and storing carbon and stands to benefit from changes in U.S. climate policy. Three months later, Exxon announced the proposed acquisition of shale operator Pioneer Natural Resources for $60 billion.

All of the proposed acquisitions could face pushback from the U.S. which, under the Biden administration, has stepped up antitrust reviews for energy companies and other sectors as well, such as tech.

Federal Trade Commission, which enforces federal antitrust law, asked for additional information from Exxon and Pioneer about their proposed deal. The request is a step the agency takes when reviewing whether a merger could be anticompetitive under U.S. law. Pioneer disclosed the request in a filing in January.

As part of the ConocoPhillips transaction, Marathon Oil shareholders will receive 0.2550 shares of ConocoPhillips common stock for each share of Marathon Oil common stock that they own, the companies said Wednesday.

ConocoPhillips said Wednesday that the transaction will add highly desired acreage to its existing U.S. onshore portfolio.

“This acquisition of Marathon Oil further deepens our portfolio and fits within our financial framework, adding high-quality, low cost of supply inventory adjacent to our leading U.S. unconventional position,” ConocoPhillips Chairman and CEO Ryan Lance said in a prepared statement.

The deal is expected to close in the fourth quarter. It still needs approval from Marathon Oil stockholders.

Separate from the transaction, ConocoPhillips said that it anticipates raising its ordinary dividend by 34% to 78 cents per share starting in the fourth quarter. The company said that once the Marathon Oil deal closes and assuming recent commodity prices, ConocoPhillips plans to buy back more than $7 billion in shares in the first full year. It plans to repurchase more than $20 billion in shares in the first three years.

Shares of ConocoPhillips declined 3.3% before the market open, while Marathon Oil Corp.'s stock rose more than 7%.

ALLY Energy's annual GRIT Awards is still accepting applications — but not for long.

Deadline approaches Houston company's energy awards

A Houston company that advocates for equity and inclusion in the evolving energy sector is closing it nominations for its annual awards program on August 12.

ALLY Energy's 2023 GRIT Awards — honoring companies, nonprofits, and individuals with growth, resilience, innovation, and talent — is slated for October 26. For now, ALLY is looking for the best in the biz to honor at the program.

"We honor the energy industry’s brightest and grittiest talent who contribute to their companies, the energy industry, and their communities," reads the website. "Our awards program recognizes individuals, students, and for-profit and nonprofit organizations that have demonstrated (GRIT) growth, resilience, innovation, and talent with a focus on driving a (JEDI) just, equitable, diverse, and inclusive culture. Best Energy Workplaces℠ give recognition to outstanding energy and climate technology employers."

The nomination categories are as follows:

  • The Lifetime Achievement Award
  • The Professional Award
  • The Executive Award
  • The Entrepreneur Award
  • The ALLY JEDI Award
  • The Gritty Girl
  • The ESG and Climate Champion
  • The Best Affinity Group, Employee Resource Group, or Business Resource Group Award
  • The Best Energy Team Award
  • The Best Energy Workplaces Award

The full description and requirements for each category is detailed online.

Once applications close on August 12 at midnight, ALLY's team will decide the finalists and reveal them before September 15.

Last year's honorees included representatives from many Houston energy companies, including Baker Hughes, ExxonMobil, Halliburton, Marathon Oil, Rice University, Saudi Aramco, Shell, the University of Houston, Syzygy Plasmonics, and Wood Mackenzie.

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Oxy CEO Vicki Hollub to retire, Reuters reports

retirement plans

Vicki Hollub, CEO of Houston-based Occidental (Oxy), is set to retire this year, Reuters first reported Thursday.

Hollub has held the top leadership position at Oxy since 2016 and has been with the oil and gas giant for more than 40 years. Before being named CEO, she served as chief operating officer and senior executive vice president at the company. She led strategic acquisitions of Anadarko Petroleum in 2019 and CrownRock in 2024, and was the first woman selected to lead a major U.S. oil and gas company.

Reuters reports that a firm date for her retirement has not been set. Richard Jackson, who currently serves as Oxy's COO, is expected to replace Hollub in the CEO role.

Oxy is leading a number of energy transition projects.

It's subsidiary 1PointFive is developing a $1.3 billion direct air capture (DAC) project in the Midland-Odessa area that is slated to be the largest facility of its kind in the world. Known as STRATOS, it's designed to capture up to 500,000 metric tons of CO2 per year.

The company shared recently that Phase 1 of the project is expected to go online in Q2, with Phase 2 ramping up through the remainder of 2026.

“We are immensely proud of the achievements to date and the exceptional record of safety performance as we advance towards commercial startup,” Hollub said of Stratos last year.

“We believe that carbon capture and DAC, in particular, will be instrumental in shaping the future energy landscape,” she added.

Oxy was one of the first to set ambitious net-zero goals. In a 2020 interview during CERAWeek, Hollub outlined Oxy's future as a “carbon management company.”

“Ultimately, I don’t know how many years from now, Occidental becomes a carbon management company, and our oil and gas would be a support business unit for the management of that carbon. We would be not only using [CO2] in oil reservoirs [but] capturing it for sequestration as well,” Hollub said.

Oxy opened its Oxy Innovation Center in the Ion last year, focused on advancing low-carbon technology. It also operates Oxy Low Carbon Ventures, which focuses DAC, carbon sequestration and low-carbon fuels through businesses like 1PointFive, TerraLithium and others.

Hertha Metals named world's  No. 1 most innovative manufacturing co. of 2026

top innovators

Led by Conroe-based Hertha Metals, five organizations in the Houston area earned shoutouts on Fast Company’s list of the World’s Most Innovative Companies of 2026.

Hertha Metals ranked No. 1 in the manufacturing category.

Last year, Hertha unveiled a single-step process for steelmaking that it says is cheaper, more energy-efficient and just as scalable as traditional steel manufacturing. It started testing the process in 2024 at a one-metric-ton-per-day pilot plant.

At the same time, Hertha announced more than $17 million in venture capital funding from investors such as Breakthrough Energy, Clean Energy Ventures, Khosla Ventures, and Pear VC.

“We’re not just reinventing steelmaking; we’re redefining what’s possible in materials, manufacturing, and national resilience,” Laureen Meroueh, founder and CEO of Hertha, said at the time.

Meroueh was also recently named to Inc. Magazine's 2026 Female Founders 500 list.

Hertha, founded in 2022, says traditional steelmaking relies on an outdated, coal-based multistep process that is costly, and contributes up to 9 percent of industrial energy use and 10 percent of global carbon emissions.

By contrast, Hertha’s method converts low-grade iron ore into molten steel or high-purity iron in one step. The company says its process is 30 percent more energy-efficient than traditional steelmaking and costs less than producing steel in China.

Last year, Hertha said it planned to break ground in 2026 on a plant capable of producing more than 9,000 metric tons of steel per year. In its next phase, the company plans to operate at 500,000 metric tons of steel production per year.

Here are Fast Company’s rankings for the four other Houston-area organizations:

  • Houston-based Vaulted Deep, No. 3 in catchall “other” category.
  • XGS Energy, No. 7 in the energy category. XGS’ proprietary solid-state geothermal system uses thermally conductive materials to deliver affordable energy anywhere hot rock is located. While Fast Company lists Houston as XGS’ headquarters, and the company has a major presence in the city, XGS is based in Palo Alto, California.
  • Houston-based residential real estate brokerage Epique Realty, No. 10 in the business services category. Epique, which bills itself as the industry’s first AI brokerage, provides a free AI toolkit for real estate agents to enhance marketing, streamline content creation, and improve engagement with clients and prospects.
  • Texas A&M University’s Nanostructured Materials Lab in College Station. The lab studies nano-structured materials to make materials lighter for the aerospace industry, improve energy storage, and enable the creation of “smart” textiles.

CERAWeek crowns winners of 2026 clean tech pitch competition

top teams

Twelve teams from around the country, including several from Houston, took home top honors at this year's Energy Venture Day and Pitch Competition at CERAWeek.

The fast-paced event, held March 25, put on by Rice Alliance, Houston Energy Transition Initiative and TEX-E, invited 36 industry startups and five Texas-based student teams focused on driving efficiency and advancements in the energy transition to present 3.5-minute pitches before investors and industry partners during CERAWeek's Agora program.

The competition is a qualifying event for the Startup World Cup, where teams compete for a $1 million investment prize.

PolyJoule won in the Track C competition and was named the overall winner of the pitch event. The Boston-based company will go on to compete in the Startup World Cup held this fall in San Francisco.

PolyJoule was spun out of MIT and is developing conductive polymer battery technology for energy storage.

Rice University's Resonant Thermal Systems won the second-place prize and $15,000 in the student track, known as TEX-E. The team's STREED solution converts high-salinity water into fresh water while recovering valuable minerals.

Teams from the University of Texas won first and second place in the TEX-E competition, bringing home $25,000 and $10,000, respectively. The student winners were:

Companies that pitched in the three industry tracts competed for non-monetary awards. Here are the companies named "most-promising" by the judges:

Track A | Industrial Efficiency & Decarbonization

Track B | Advanced Manufacturing, Materials, & Other Advanced Technologies

  • First: Licube, based in Houston
  • Second: ZettaJoule, based in Houston and Maryland
  • Third: Oleo

Track C | Innovations for Traditional Energy, Electricity, & the Grid

The teams at this year's Energy Venture Day have collectively raised $707 million in funding, according to Rice. They represent six countries and 12 states. See the full list of companies and investor groups that participated here.

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