Houston-based Coterra Energy said recently it reached a natural gas sales agreement with Basin Ranch Energy Center, a unit of Competitive Power Ventures Group’s in Ward County. The center is a proposed 1,350 megawatt combined cycle power plant being designed with an option to include carbon capture. The agreement to sell 50 million cfd for a seven-year term is expected to start in 2028.
Coterra also secured the right to purchase up to 250 MW/day of power from the CPV plant as part of its first power netback deal in the Permian Basin. CPV said Aug. 8 it plans to start construction in 2025Q3 for opening in 2028Q4.
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