U.S. Shale Drillers Seek To Power Oil Patch With Small Nuclear Reactors; Reactor Company Oklo Talking To Drillers Including Diamondback
Portfolio Pulse from Benzinga Newsdesk
U.S. oil companies, including Diamondback Energy Inc., are exploring the use of small nuclear reactors to power operations in Texas's Permian Basin. This initiative, led by a nonbinding letter of intent with Oklo Inc., aims to reduce carbon emissions and ensure reliable electricity. Oklo's advanced fission reactor technology is also being discussed with other oil firms.
April 01, 2024 | 3:30 pm
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Diamondback Energy Inc. is considering small nuclear reactors for its operations in the Permian Basin, aiming to cut emissions and ensure power reliability.
The move towards small nuclear reactors by Diamondback Energy signifies a strategic shift towards sustainability and operational efficiency. This could positively impact investor perception and potentially reduce operational costs in the long term, leading to a likely increase in stock price in the short term.
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