US oil companies including Diamondback Energy Inc. are considering small nuclear reactors to power drilling operations in Texas's Permian Basin, a move aimed at cutting carbon emissions and ensuring reliable access to electricity.
Diamondback, the largest independent producer headquartered in the shale-oil region, has signed a nonbinding letter of intent with Oklo Inc. to deploy small reactors for some of its future power needs, according to Diamondback President Kaes Van't Hof. Oklo, which is developing an advanced fission reactor, has held similar discussions with other oil companies, its chief executive officer said in an interview.