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Drilling executive calls for a new course of action to achieve success

EMPOWERING TRANSITION

Nabors executive Subodh Saxena challenged leaders to think more like Generation Z at OTC2023. Photo courtesy of nabors.com

Gone are the days of people, process, and technology. Welcome to purpose, partnering, and governance.

In the early morning hours of the third day of OTC2023, Subodh Saxena, senior vice president at Nabors Industries, succinctly summarized both the challenges and opportunities faced by an industry in the middle of an identity crisis.

The upstream energy industry focused the better part of the last two decades on physical safety, division and clarity of responsibilities, and technology adoption and adaptation. Rightfully so, given the Macondo incident of 2010, the Enron collapse in 2002, and the general wildfire growth of technology in the workplace over the same time frame.

But as leadership that came of age during these tragedies takes the reigns, a new set of challenges arises. Consistent lack of positive financial returns, a shrinking talent pool, and of course, the climate crisis, combine to form the perfect storm for an industry just trying to manage the rising and falling tides of unstable commodity pricing.

To avoid completely capsizing during this squall in which the industry finds itself, Saxena describes three opportunities for improvement.

  • Attracting new talent by creating psychological safety in our workplaces and improving the perception of technology adaptation in the industry
  • Embracing a collaborative approach to building new solutions to limit the amount of siloed rework that currently stymies rapid advancement
  • Improved financial discipline with greater honesty about ROI for the entire supply chain

“We have a mindset in the industry, that we have to build everything ourselves," Saxena laments. "We have to learn to partner because [if] every company invests in new technology to create transition, whether that's hydrogen or any other source of green energy, that return on invested capital is going to become negative. We need to learn to collaborate to ensure that we are all going to be successful.”

The requests made by Saxena represent a growing movement within the incumbent industry to think not of the energy transition as a shift from one energy source to another but as a transition in mindset. Collaboration is the name of the game now, as are mindfulness, responsibility, and above all else, sustainability.

Revisiting purpose, partnering, and governance to identify room for improvement will ultimately determine whether organizations will sink or sail.

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Helix Earth closes $12M round and more Houston energy headlines

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Editor's note: The top energy transition headlines for the month include Helix Earth's Seed 2 funding and Chevron's plans for a West Texas power plant. Below are the five most-read EnergyCapital stories published April 1-15, 2026:

1. Houston cleantech company closes $12M seed round

Helix Earth is developing a retrofit technology that has the potential to cut HVAC energy use by up to 50 percent. Photo via Getty Images

Houston-based Helix Earth Technologies has closed a $12 million Seed 2 funding round to scale manufacturing of its energy-efficient commercial HVAC add-on technology. Veriten, a Houston-based energy investment firm, led the round. Rua Ventures, Carnrite Ventures, Skywriter LLC and Textbook Ventures also participated. Continue reading.

2. Chevron eyes $7B Texas power plant for Microsoft data center campus

Chevron is in talks with Microsoft and Engine No. 1 about a massive natural gas power plant in Texas. Photo via Getty Images

Software giant Microsoft is negotiating exclusively with Houston-based oil and gas titan Chevron and investment firm Engine No. 1 about the development of a $7 billion power plant in West Texas that would supply electricity for a Microsoft data center campus. Continue reading.

3. 3 strategies to strengthen the Gulf Coast as a global energy hub

The Gulf Coast is one of the most critical energy hubs in the world. Photo via Getty Images.

The Texas-Louisiana Gulf Coast is the backbone of America’s energy and chemical economy. Texas produces roughly 43% of U.S. crude oil and 28% of natural gas, while Texas and Louisiana together account for about half of the nation’s refining capacity, processing 9.3 million barrels of crude per day across 50 refineries. The region also produces approximately 80% of the nation’s primary petrochemicals and ships more than $117 billion in chemical products annually from Texas alone. Continue reading.

4. 8 CERAWeek 2026 takeaways from a new Houston energy leader

Kelsey Kearns (right), the new director of Greentown Houston, shared her takeaways from her first-ever CERAWeek with Energy Capital HTX. Photo courtesy Greentown

My first CERAWeek was a blur. Having top energy executives, policymakers, and technologists all gathered in Houston—over 11,000 of them this year—was both overwhelming and energizing. The theme was “Convergence and Competition: Energy, Technology, and Geopolitics,” and walking through the George R. Brown Convention Center, it was immediately clear that this was no ordinary industry conference. As a first-timer with a Greentown Labs lens, here’s what really stuck with me. Continue reading.

5. Greentown Labs names new COO, appoints new Head of Houston

Lawson Gow and Kelsey Kearns have stepped into new leadership roles at Greentown Labs. Photos courtesy Greentown/LinkedIn

Greentown Labs has reshuffled its leadership, elevating Houston leaders into new roles. Lawson Gow was named COO of the Houston- and Boston-based climatech incubator in February 2026. In his new role, he will focus on optimizing Greentown's structure, building new internal and external systems and developing a plan for growth. Continue reading.

Rice, UH launch joint effort to accelerate plastics recycling solutions

plastics partnership

Institutes at two Houston universities are joining forces to help position the city as a global leader in plastics recycling innovation.

The Center for Energy Studies (CES) at Rice University’s Baker Institute for Public Policy and the University of Houston’s Energy Transition Institute (UH-ETI) have announced a strategic partnership that aims to develop real-world solutions for plastic recycling.

The universities will kick off the new initiative with the Annual Sustainability Summit: Innovations and Collaborations in Circularity & Supply Chain Resilience event April 22 at the Baker Institute.

“Houston sits at the center of the global plastics and petrochemical value chain, which makes it uniquely positioned to lead in circular solutions,” Rachel Meidl, deputy director of CES, said in a news release. “This partnership is about moving beyond theory and bringing together data, policy and industry insight to accelerate technologies and frameworks that can scale.”

The partnership—which was made official during CERAWeek—will integrate policy, economics, science and engineering. The universities will work to “share data, insights, networks and connections to advance global work in protecting the environment, economy and society,” according to a news release from Rice.

Initially, the universities will focus on evaluating scalable advanced recycling pathways, developing policy frameworks to improve plastics circularity, analyzing emerging technology and using industry stakeholders for deployment.

Plastics circularity aligns with Rice and UH’s energy transition efforts to advance a circular economy. UH's ETI recently published a white paper that analyzes how the U.S. currently handles plastics recycling and advocates for a new approach. Ramanan Krishnamoorti, author of the paper and vice president of energy and innovation at UH, said the partnership with Rice’s Baker Institute could help bring some of the ideas outlined in the paper to reality.

“Our research has shown that a uniform approach may be the best way for the U.S. to tackle plastic waste,” Krishnamoort said in a news release. “By partnering with Rice’s Baker Institute for Public Policy, we will be better positioned to deliver real-world solutions that advance a circular plastics economy.”

Fervo Energy adds former eBay CEO Meg Whitman, other leaders to board

power players

As it prepares for a highly anticipated IPO, Houston-based geothermal power provider Fervo Energy has added four heavyweights to its board of directors.

The most notable new board member is Meg Whitman, former CEO of eBay, Hewlett-Packard, and Spring-based HPE, and former U.S. ambassador to Kenya. She joined the Fervo board as lead independent director.

One of the other high-profile new board members at Fervo is Jessica Uhl. She was chief financial officer of Shell from 2017 to 2022 and spent a little over a year as president of GE Vernova, a GE energy spinoff. She is a former board member of GE, Goldman Sachs and Shell. Today, Uhl advises investment firms on energy matters.

Another energy industry veteran, Trey Lowe, also joined the Fervo board. Lowe is senior vice president and chief technology officer at oil and gas producer Devon Energy, a Fervo investor that’s moving its headquarters from Oklahoma City to Houston. Before Devon, Lowe worked in the U.S. and Norway for Houston-based energy technology company SLB.

The fourth new director at Fervo is Robert Keehan, who spent 37 years at professional services firm PwC. He most recently was PwC’s chief global auditor and earlier was a partner in the firm’s energy practice.

Keehan and Uhl will serve as independent directors, which are non-executive governance and oversight roles, while Lowe is a non-independent director, which is a more hands-on role.

With the four new directors, Fervo has seven board members.

The arrival of the four new board members comes at a monumental time for Fervo, a provider of utility-scale geothermal energy:

“Energy markets are demanding dependable, carbon-free power at an unprecedented scale, and Fervo is uniquely positioned to supply it,” Tim Latimer, co-founder and CEO of Fervo, said in December.
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