Betting on AI computing power "electricity lifeblood"! After a $67 billion merger, NextEra Energy (NEE.US) is once again throwing $1.3 billion to acquire Caliber and secure shale assets.

According to four sources who are familiar with the matter, American Electric Power Company, Inc. has agreed to acquire oil and gas investment company Caliber Resource Partners for $1.3 billion, and will also establish a joint venture with Caliber's private equity backer Quantum Capital Group to jointly manage the power company's shale assets in the U.S. This deal will further enhance American Electric Power's access to natural gas supply in the U.S. Just a few days ago, the company announced a $67 billion merger with Dominion Energy Inc., which will make it one of the largest utility and data center power suppliers in the world. On May 19th, NextEra Energy acquired competitor Dominion Energy Inc. for $67 billion, making it the largest utility acquisition in U.S. history. This move shows that even the largest companies in the industry need to continue expanding to meet the growing demand for power driven by artificial intelligence. It is widely anticipated that the construction boom of data centers driven by artificial intelligence and cloud computing will increase the demand for generating fuels, with natural gas being a stable and peak-adjustable fuel for power generation, which is now gaining attention in the capital markets. Sources revealed that a subsidiary of NextEra Energy will take over Caliber's assets, which include passive interests in oil and gas production assets covering multiple onshore shale basins in the U.S. These types of interests are known in the industry as "non-operating interests," where holders earn income shares from oil and gas sales by bearing some drilling costs but do not actively participate in the drilling process. One source disclosed that Caliber's assets, along with other natural gas production assets owned by NextEra Energy through its Trinity Operating division, will be transferred to a new joint venture established by NextEra Energy and Quantum. The joint venture will be named NEQ Operating, with NextEra Energy and Quantum owning 50% each. Due to the confidential nature of the discussions, sources requested anonymity. NextEra Energy, based in Juno Beach, Florida, did not immediately respond to requests for comments. Quantum declined to comment. Another source mentioned that the joint venture formed with Quantum will focus on further investments to expand NextEra Energy's natural gas production asset portfolio. Alan Smith, Managing Director of Quantum Energy Partners, will temporarily serve as Executive Chairman until Quantum finalizes a comprehensive management team to oversee the operations of the joint venture. Two other sources revealed that Quantum has also agreed to provide funding for Caliber's next round of investments, which will be led by the current management team. NextEra has traditionally been known for its renewable energy and nuclear power capabilities, but with its recent acquisitions and the establishment of the shale joint venture, it is clear that the company is building a vertically integrated "generation + gas upstream" capability. Amidst the intertwining of energy transition and AI computational needs, natural gas is evolving from a "transitional fuel" to a "strategic fuel." NextEra's actions may lead other utility companies to follow suit, further driving capital back into North American shale assets.