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Houston energy exec to chair Texas parks board

conservation leader

Jeff Hildebrand will lead the organization that protects and conserves Texas parks. Photo via texasbusiness.org

The Texas Parks and Wildlife Commission, or TPWC has named its newest chair, and the job went to a Houston energy executive.

Governor Greg Abbott named billionaire Jeff Hildebrand as chair of the Parks And Wildlife Commission, effective August 31. The organization "manages and conserves the natural and cultural resources of Texas and provides hunting, fishing, and outdoor recreation opportunities for the use and enjoyment of present and future generations," according to a news release from the state. In the announcement, William “Leslie” Doggett was also named to the commission.

Hildebrand replaces Arch "Beaver" Aplin, the CEO of Buc-ee’s, who served as the chair for the past two years.

“I thank (Aplin) for faithfully serving his fellow Texans to preserve the beautiful Texas landscape that spurs our booming tourism industry and protects our state's rich history," says Governor Abbott in the release. "Jeff Hildebrand and William Doggett both bring unique experiences to the Commission and will help ensure that Texans, and out-of-state visitors alike, continue to enjoy Texas’ outdoors and recreational activities for generations to come.”

Hildebrand, the richest person in Houston with a net worth at $10.2 billion according to Forbes, is the founder, chairman, and CEO of Houston-based Hilcorp Energy Company, a privately held energy exploration and production company. He also serves as a director for the Houston Livestock Show & Rodeo, Central Houston Civil Improvement, and Central Houston Inc. A University of Texas alumnus, he was formerly the chairman of The University of Texas/Texas A&M Investment Management Company and served as the gubernatorial appointed vice chair for the UT System Board of Regents, among other roles.

Doggett, another Houston executive, is the executive chairman and founder of the Doggett Equipment Services Group and the Doggett Auto Group, which has 47 dealerships throughout Texas, Louisiana, Arkansas, and New Mexico. He's also a UT alumnus and a member of the World Presidents Organization, and a trustee of the Houston Methodist Research & Academic Institute, The Kinkaid School, San Jacinto Monument and Texas History Museum, and the Museum of Fine Arts Houston – Rienzi.

This year marks the centennial celebration for the organization, which is led by the commission. Governor Pat Neff worked with Texas leaders to create the State Parks Board in 1923 to create a place where Texans “might go and forget the anxiety and strife and vexation of life's daily grind,” per the website.

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Houston subsea firm Zupt acquired in offshore tech deal

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Houston-based Zupt LLC, a provider of advanced metrology, inspection, and engineering services for offshore energy and renewable projects, has been acquired by Columbus, Ohio-based Rosenxt Holding USA for an undisclosed amount.

Rosenxt says the deal, which closed July 21, represents another step in its long-term strategy to build a portfolio of technology and engineering capabilities for the subsea market in the energy sector.

“Our ambition has always been to think decades ahead,” Hermann Rosen, chairman of Switzerland-based Rosenxt Group, the parent company of Rosenxt Holding USA, said in a news release.

“The future of subsea and offshore industries will be shaped by intelligent technologies that fundamentally change how critical infrastructure is explored, installed, inspected and operated,” he added. “Zupt is another important building block in this vision.”

Rosenxt says offshore operators and installation contractors face pressure to execute subsea projects more efficiently amid workforce shortages, weather concerns, tougher safety standards, and rising capital and operating expenses.

“The offshore sector continues to embrace technologies that enhance data quality, reduce operational risk, and improve decision-making across the asset lifecycle,” Houston M&A attorney Amelia Zhang, who led law firm Norton Rose Fulbright’s representation of Zupt, added in the release.

Rosenxt provides services for the subsea market that combine sensing, robotics, AI, analytics and engineering. Zupt complements those services with offerings for operations, such as high-resolution 3D inspection, digital twin generation, and inspection and engineering technologies for subs.

Zupt President Keith Vickery founded the company in 2005.

Vickery says Zupt “has focused on solving some of the subsea industry’s most demanding marine construction and inspection challenges through innovative engineering, operational experience, and close collaboration with our customers.”

Mordor Intelligence estimates the value of the subsea market will climb from $19.75 billion this year to $25.03 billion in 2031. North America represents the largest segment of the global market.

Houston energy tech company Molecule makes gas operations acquisition

software acquisition

Houston-based energy trading risk management (ETRM) software company Molecule has announced the acquisition of Dallas-based Trilogy Energy Solutions.

Molecule CEO Patrick Smith called the deal a "defining moment" for the company, as it allows Molecule's platform to expand to include physical gas operations.

“For years, this industry has drawn the ETRM box too small, creating inefficient silos by treating trading and physical operations as separate budgets and separate problems, when the real cost lives in the handoffs between them," Smith said in a news release. "Trilogy’s domain expertise in physical gas operations closes that gap. Together, we can give producers, midstream operators, and trading desks something the market has been asking for: a single, integrated view from wellhead to trading desk, without the manual reconciliation, spreadsheet workarounds, and legacy handoffs that slow the industry down.”

Trilogy, founded in 2014, is a provider of cloud-based software for the day-to-day logistics of physical natural gas operations. The platform allows users—including producers, marketers, midstream companies, pipeline operators and others—to manage activities such as pipeline nominations, gas gathering operations and more. Thus far, Molecule's platform has focused on energy trading and managing financial and commercial activities.

Through the acquisition, the combined company will now offer a full-stack enabled ETRM and energy operating system. Users of both platforms can expect continuity of service, according to the companies.

“Molecule has always been about meeting trading teams where they actually work, focused on being fast, accurate, and deeply integrated into their day-to-day workflow,” Sameer Soleja, founder and president of Molecule, added in the release. “Bringing Trilogy into the Molecule family extends that mission from the trading desk into the physical operations of the gas business. The two platforms complement each other exceedingly well, and the combined product will be able to offer all-in-one capabilities that lead the ETRM market, both in its tech-forward nature, and in its depth.”

Molecule expects the combined platform to help users reduce manual month-end close work, cut costs, and improve data accuracy and decision-making.

Trilogy's Chief Product Officer Jeremy Frye will join the Molecule team, along with others from Trilogy.

“Trilogy has spent decades building the trust of companies across the physical natural gas industry by delivering software that stands up to the demands of physical gas operations... It’s a rare combination that brings the best of both worlds, and I’m energized about what our teams will build together,” Frye added in the release.

California-based Sundance Growth, an existing investor in Molecule, supported the acquisition. The software growth equity firm raised a $125 million debut fund in 2025 and focuses on B2B SaaS companies.

Sundance led Molecule's Series B round, which closed last summer for an undisclosed amount. At the time, Soleja said the funding would allow Molecule to "double down on product innovation, grow our team, and reach even more markets."

Houston private equity firm's nuclear acquisition tops energy news to know

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Editor's note: The biggest energy transition headlines to close out July include a major acquisition and Department of Energy investments in Houston-led projects. Below are the five most-read stories published on EnergyCapitalHTX, July 15-31, 2026:

1. Houston PE firm makes latest nuclear industry acquisition

Houston-based private equity firm Pelican Energy Partners has acquired California-based Veridiam for an undisclosed amount in an effort to further increase the firm’s focus on the nuclear energy sector. Veridiam is a strategic manufacturer that specializes in the precision fabrication of components and assemblies made from exotic metals or advanced alloys for the nuclear, aerospace, defense, space and medical fields. Continue reading.

2. 4 Houston researchers awarded projects in DOE's Genesis Mission

The U.S. Department of Energy has named the nearly 300 projects selected under the Trump Administration's Genesis Mission, which aims to address some of the largest science and technology challenges in the country. The group features four projects from Houston universities and companies. The initiative aims to unite government, industry, academia and philanthropy to lead to breakthroughs in energy, scientific discovery and national security. Continue reading.

3. Shell strikes $1.8B deal to offload solar and wind assets in India

Reflecting its ongoing de-emphasis of renewable energy, oil and gas giant Shell has agreed to sell its solar and wind power business in India for $1.8 billion. Aditya Birla Renewables Ltd. (ABRen) is the pending buyer of Solenergi Power Private Ltd., including the Sprng Energy group of companies. Sprng Energy develops, owns and operates utility-scale solar and wind power facilities in India. Shell, whose U.S. headquarters is in Houston, acquired Solenergi in 2022 for $1.55 billion. Continue reading.

4. Houston company lands first deal from new Blackstone energy transition fund

Asset manager Blackstone has agreed to buy Houston-based Dresser Utility Solutions from Connecticut private equity firm First Reserve for an undisclosed amount. First Reserve has a major presence in Houston. The deal represents the first investment from Blackstone Energy Transition Partners V. “Blackstone’s deep resources and experience in the utility sector make them an ideal partner as we continue to invest in innovation, expand our product portfolio, and deliver value for our customers,” Dresser CEO David Evans said. Continue reading.

5. KBR appoints C-suite duo to lead forthcoming spinoff

In advance of the spinoff of its Mission Technology Solutions unit, Houston-based KBR has made two C-suite hires for the new business. Michael LaRouche is coming aboard as president and CEO of the spinoff, currently called SpinCo, on Sept. 26. Nicholas Veasey joined as executive vice president and chief financial officer on July 1. Continue reading.

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