Diamondback Energy Inc. has entered into a partnership with Conduit Power, LLC and Granite Ridge Resources to support the development of 200 megawatts of new natural gas power generation assets in the ERCOT grid, specifically in West Texas. Under the agreement, Conduit Power will build, own, and operate the distributed generation facilities, while Diamondback and Granite Ridge will provide financial backing through fixed capacity payments in exchange for a preferred share of the power proceeds. The initiative aims to enhance grid reliability and address power imbalances in the region, with the first sites expected to be operational in 2026.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Diamondback Energy Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20251217495588) on December 17, 2025, and is solely responsible for the information contained therein.