The Week in Energy – May 22, 2026

byEnverus

NextEra’s combination with Dominion Energy—one of the largest energy deals ever—led a week marked by large-scale capital deployment across utilities and upstream.

Top Stories 

  • Move over oil and gas, utilities get their mega-merger
    NextEra Energy agreed to combine with Dominion Energy in an all-stock transaction creating the largest regulated utility platform globally. The deal reflects accelerating power demand, particularly from data centers, and underscores the role of scale and long-duration regulated assets in meeting load growth. 

  • NextEra reportedly acquiring Quantum’s Caliber for $1.3B
    NextEra is also expanding upstream exposure through a reported $1.3B acquisition of Quantum’s Caliber platform and a related joint venture. The move links natural gas supply more directly to its growing power generation portfolio.

  • Devon dominates record $4B BLM Delaware Basin auction
    Devon Energy led a record federal lease sale in the Delaware Basin, committing about $2.6B as total proceeds exceeded $4B. The auction marked the largest onshore lease sale in U.S. history and signals continued operator demand for Tier 1 inventory.

  • Kimbell returns to M&A market with $147MM Permian deal
    Kimbell Royalty Partners reentered the acquisition market with a $147MM purchase of Permian mineral interests. The deal expands its exposure across Midland and Delaware Basin acreage and supports long-term royalty volume growth.

  • Czech investor enters E&P with mature Permian wells from Post Oak
    A Czech investor acquired mature Delaware Basin assets from Post Oak, marking its first direct entry into upstream operations. The transaction highlights continued international capital interest in U.S. producing assets with established cash flow.

Additional Stories

Also this week: ConocoPhillips boosts Permian activity; Santos starts Pikka oil; Commonwealth LNG advances financing; Phillips 66 and Kinetik expand Permian capacity; Seadrill extends drillship contracts; Calfrac sees stronger U.S. demand; Constellation backs RNG; Antora brings thermal storage online.

To learn more, reach out to businessdevelopment@enverus.com or visit www.enverus.com. 

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