Todd Liljedahl
After acquiring rival Marathon Oil Corp. for nearly $17 billion in November 2024, ConocoPhillips expressed plans to divest assets valued at around $2 billion. The firm subsequently raised its disposal target to $5 billion by 2026.
For Stone Ridge, acquiring assets in Oklahoma marks the second significant investment this year, coming after the more than $1 billion purchase of energy assets in Colorado, Offshore Technology notes. Since its establishment in 2021, Stone Ridge has allocated around $9 billion into energy assets.
The company's strategy focuses on addressing the increasing energy needs in areas like Bitcoin mining, AI data facilities, and nations reliant on liquefied natural gas. The firm possesses more than 11 GW of capacity fueled by natural gas.
source: cnn.com
For Stone Ridge, acquiring assets in Oklahoma marks the second significant investment this year, coming after the more than $1 billion purchase of energy assets in Colorado, Offshore Technology notes. Since its establishment in 2021, Stone Ridge has allocated around $9 billion into energy assets.
The company's strategy focuses on addressing the increasing energy needs in areas like Bitcoin mining, AI data facilities, and nations reliant on liquefied natural gas. The firm possesses more than 11 GW of capacity fueled by natural gas.
source: cnn.com