PECOS, Texas, March 26, 2026 /PRNewswire/ -- Two leading American energy companies, Mercuria Americas and Continental Resources, today announced a partnership to build the Pecos Power Plant, a 452 MW gas-fired power plant in Pecos, Texas. The partnership reflects a shared commitment to strengthening U.S. energy independence by expanding reliable, domestic power generation and supporting accelerating demand across the ERCOT grid.
Mercuria Americas, part of one of the world's largest independent energy and commodity groups, has led the project's development. Construction began in September 2025, with commercial operations targeted for 2027.
Continental Resources has joined as a strategic partner, bringing its extensive Permian Basin footprint and operational expertise. Together, the companies combine deep experience across power and gas markets, infrastructure development, and construction execution to complete the project.
"As we selected a partner to stand beside us in building new gas-fired generation, Continental was a natural choice," said Daniel Jaeggi, Co-Founder and President of Mercuria Energy. "The company's vision for American energy, operational expertise, and long-standing commitment to responsible production make Continental an ideal partner when the stakes are high."
"The future of American energy doesn't stop at the wellhead, it extends all the way to the power grid," said Harold Hamm, Founder and Chairman Emeritus of Continental Resources. "As demand for electricity surges, from data centers to advanced manufacturing, we have a responsibility to ensure that power is affordable and reliable. This partnership with Mercuria allows us to put our natural gas to work in a new way—turning abundant domestic resources into the dependable power that will fuel our nation's growth."
The Pecos Power Plant is being constructed with 24 reciprocating internal combustion engines, delivering reliable, flexible generation that supports grid stability and complements renewable resources.
"The Pecos Power Plant will deliver dispatchable, reliable power to the Texas grid when and where it is needed most, balancing intermittent resources and promoting a healthy and resilient power grid. Mercuria welcomes Continental to the project and we are excited to expand our partnership. We thank our Texas partners, equipment and construction vendors, and management team for their collaboration and commitment to making this project a success," said Brian Falik, President of Mercuria Americas.
"This is a natural evolution of Continental's strategy, linking our world-class resource base to the growing demand for reliable power. As the Permian Basin continues to expand and power demand accelerates, we see a clear opportunity to integrate across the value chain. Partnering with Mercuria allows us to deliver dependable, dispatchable power while creating long-term value for the communities and markets we serve," said Doug Lawler, President and Chief Executive Officer of Continental Resources.
Developed in coordination with the Pecos Economic Development Corporation, the project is expected to create hundreds of construction jobs and long-term skilled positions once operational. The project will supply electricity sufficient to power 200,000 homes.
About Mercuria
Mercuria is one of the world's leading independent energy and commodities companies. Founded in Geneva, Switzerland, Mercuria operates globally with activities across more than 50 countries. The company is active across the energy value chain, including crude oil, refined products, natural gas, LNG, power, renewable energy, and metals. Mercuria is recognized for its strong focus on risk management, compliance, operational excellence, and its commitment to supporting the global energy transition through investments in transitional and renewable energy solutions.
About Continental Resources
Continental Resources, Inc. is the largest privately held oil and natural gas producer in the world. Headquartered in Oklahoma City, Oklahoma, Continental has built a legacy of innovation in unconventional resource development and is driving the next chapter of global energy growth.
The company holds a leading resource position anchored in four premier U.S. assets: a leading producer in the Bakken of North Dakota, South Dakota and Montana, the largest producer in Oklahoma's Anadarko Basin, and significant, high-quality resource positions in Wyoming's Powder River Basin and the Permian Basin of Texas.
Internationally, Continental is applying the same technical rigor and long-term development mindset to new opportunities, advancing its position in Argentina's world-class Vaca Muerta shale play and entering a joint venture to develop unconventional resources in the Diyarbakır Basin in Turkey.
SOURCE Mercuria Energy
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