Elon Musk’s Space Exploration Technologies Corp., or SpaceX, has plans to drill for natural gas in Texas, Bloomberg reported Friday, citing a hearing before the state’s energy regulator. The drilling would be done close to the privately held aerospace company’s launchpad and through a SpaceX subsidiary, Lone Star Mineral Development. But it has yet to start due to a dispute with Dallas Petroleum Group, which claims ownership of some inactive wells on the same land, Bloomberg said. Earlier this week Musk, electric-car maker Tesla Inc.
TSLA,
chief executive, tweeted that he’d donate $100 million toward “the best” carbon-capture technology. Musk announced last year he had moved to Texas, where Tesla is building a factory outside the capital Austin. According to news reports this week, SpaceX, also through Lone Star Development unit, also recently bought two oil rigs, likely to convert them to support SpaceX’s programs.
Related Posts
Stockhastix.com is one of the most useful and powerful Stocks Finance Newspaper with great attention to details, incredible features, an intuitive user interface. Stockhastix.com brings you live coverage of the markets open and close, additionally everything you need to know across the latest news from stocks, finance and cryptocurrency.