Latest news with #MattGallagher
Business Journals
5 days ago
- Business
- Business Journals
JLL report reveals Northern Virginia remains the most dominant data center market
Northern Virginia (NoVA) continues to dominate the data center landscape, according to JLL's latest North America Data Center Report. With unparalleled inventory, record-breaking absorption and a robust development pipeline, NoVA is poised for sustained growth. Record-breaking absorption and low vacancy Northern Virginia experienced a groundbreaking year in 2024, setting new benchmarks for the data center industry. The market absorbed a staggering 847 MW in the second half of the year alone — an all-time high that surpassed many other entire markets' annual totals. "Northern Virginia's data center market continues to outperform all expectations," says Matt Gallagher, executive managing director at JLL. "With 4,934 MW of existing inventory and vacancy rates hovering around 0.6%, NoVA remains the largest and most competitive data center market in the world by a significant margin." expand JLL Unmatched scale and future growth potential Northern Virginia's data center inventory of 4,934 MW significantly surpasses other major markets, with Dallas-Fort Worth — the next largest market in North America — coming in at less than 25% of NoVA's size. The region shows no signs of slowing down, with 1,071 MW currently under construction, 5,446 MW planned for future development and preleasing activity at an all-time high, as evidenced by the 87% preleasing rate for inventory coming on-line in 2025-26. These figures underscore NoVA's continued dominance and appeal to hyperscale and enterprise clients alike. expand Evolving landscape: Challenges and opportunities While Northern Virginia's data center market remains robust, it faces unique challenges and opportunities. Grid connection wait times now average four years, prompting innovative solutions like on-site power generation. Spatial limitations and regulatory changes are influencing a 'shift south' along the I-95 corridor. Demand is spilling over from established markets into nearby metros in Central and Southern Virginia, such as Richmond. Despite these hurdles, Northern Virginia's data center ecosystem remains unparalleled. "The combination of robust infrastructure, proximity to major internet exchanges and a deep talent pool continues to attract global technology leaders and drive innovation in the region," notes Gallagher. Emerging trends to watch include southward expansion, with over 3,200 acres south of traditional NoVA submarkets now positioned for data center development, offering new opportunities for growth. Additionally, increasing competition for "by-right" development sites is spurring creative approaches to secure viable locations. Northern Virginia remains the most dominant data center market in the world, with continued strong demand, extremely low vacancy and significant planned expansion despite shifting market dynamics. As the industry evolves, NoVA is poised to maintain its leadership position through innovation and strategic growth.
Yahoo
06-05-2025
- Business
- Yahoo
Greenlake Energy Announces Formation of Greenlake Energy II with a Capital Commitment from NGP and Expands Portfolio with Strategic Acquisition in the Delaware Basin
NGP expands existing Greenlake partnership with a new $200 million commitment to Greenlake Energy II with a continued focus on the Permian Basin and other core North American basins Greenlake Energy adds to Permian Basin portfolio with acquisition of core Delaware assets Greenlake Energy has successfully drilled over 60 Delaware Basin horizontal wells and built a robust multi-year inventory AUSTIN, Texas, May 06, 2025--(BUSINESS WIRE)--Greenlake Energy is proud to announce the formation of its newest E&P acquisition platform, Greenlake Energy II, LLC ("Greenlake II"), backed by over $200 million in equity commitments from funds managed by NGP Energy Capital Management, LLC ("NGP") and Greenlake's management team. Greenlake II is led by current President and CEO, Matt Gallagher, who previously served as the CEO of Parsley Energy until its sale to Pioneer Natural Resources in 2021. The new capital commitment enables Greenlake to continue its operational and commercial momentum generated at Greenlake Energy I where the management team has successfully drilled over 60 horizontal wells in the Delaware Basin. The Greenlake team prides itself on being at the forefront of technical innovation in the industry, which has been recently demonstrated by completing three U-shaped horizontal wells. Chris Carter, Managing Partner of NGP, shared, "We are very excited to continue our partnership with the Greenlake team that dates back 14 years to our initial investment in Parsley Energy. Matt and the entire Greenlake team have an extensive network in the industry which provides differentiated deal flow and a unique track record of operational excellence with more than 750 horizontal wells drilled in the Permian Basin." Gallagher commented, "Greenlake has built a strong investment alongside the NGP team, and we are excited to carry that momentum forward with Greenlake Energy II. Backed by a world-class technical and field team, we are positioned to execute a disciplined, multi-basin growth strategy. Our modern operator mindset gives Greenlake a distinct advantage in today's energy landscape. I am proud of the recent technical success of our ops team and vendor partners, completing three U-Shaped horizontal wells — two of which with a single-run bottom hole assembly." About Greenlake Greenlake embodies the modern operator approach by adhering to its core values. Greenlake was founded in 2021, with former operations personnel and executives from Parsley Energy. The Company's 'modern operator vision' has served as an anchor to optimize capital efficiency and base production. The Greenlake Energy team has accelerated value with, and brought development solutions to, several of the largest E&P operators in the world through unique operational partnerships. Greenlake has ample dry powder and remains focused on growth opportunities in the Permian Basin and other core North American basins. For more information, visit
Business Wire
06-05-2025
- Business
- Business Wire
Greenlake Energy Announces Formation of Greenlake Energy II with a Capital Commitment from NGP and Expands Portfolio with Strategic Acquisition in the Delaware Basin
AUSTIN, Texas--(BUSINESS WIRE)--Greenlake Energy is proud to announce the formation of its newest E&P acquisition platform, Greenlake Energy II, LLC ('Greenlake II'), backed by over $200 million in equity commitments from funds managed by NGP Energy Capital Management, LLC ('NGP') and Greenlake's management team. Greenlake II is led by current President and CEO, Matt Gallagher, who previously served as the CEO of Parsley Energy until its sale to Pioneer Natural Resources in 2021. The new capital commitment enables Greenlake to continue its operational and commercial momentum generated at Greenlake Energy I where the management team has successfully drilled over 60 horizontal wells in the Delaware Basin. The Greenlake team prides itself on being at the forefront of technical innovation in the industry, which has been recently demonstrated by completing three U-shaped horizontal wells. Chris Carter, Managing Partner of NGP, shared, 'We are very excited to continue our partnership with the Greenlake team that dates back 14 years to our initial investment in Parsley Energy. Matt and the entire Greenlake team have an extensive network in the industry which provides differentiated deal flow and a unique track record of operational excellence with more than 750 horizontal wells drilled in the Permian Basin.' Gallagher commented, 'Greenlake has built a strong investment alongside the NGP team, and we are excited to carry that momentum forward with Greenlake Energy II. Backed by a world-class technical and field team, we are positioned to execute a disciplined, multi-basin growth strategy. Our modern operator mindset gives Greenlake a distinct advantage in today's energy landscape. I am proud of the recent technical success of our ops team and vendor partners, completing three U-Shaped horizontal wells — two of which with a single-run bottom hole assembly.' About Greenlake Greenlake embodies the modern operator approach by adhering to its core values. Greenlake was founded in 2021, with former operations personnel and executives from Parsley Energy. The Company's 'modern operator vision' has served as an anchor to optimize capital efficiency and base production. The Greenlake Energy team has accelerated value with, and brought development solutions to, several of the largest E&P operators in the world through unique operational partnerships. Greenlake has ample dry powder and remains focused on growth opportunities in the Permian Basin and other core North American basins. For more information, visit About NGP NGP is a premier private equity firm that believes energy is essential to progress. Founded in 1988, NGP is moving energy forward by investing in innovation and empowering energy entrepreneurs in natural resources and energy transition. With over $25 billion of cumulative equity commitments, we back portfolio companies focused on responsibly solving and securing the energy needs of today and leading the way to a cleaner, more reliable, more affordable energy future. For more information, visit
BBC News
05-04-2025
- Sport
- BBC News
Ex-Coventry rugby pro's Solihull MND fun run expected to raise £20k
A former professional rugby player who is living with motor neurone disease (MND) has hosted a fun run to raise money for his charitable player Matt Gallagher, who now lives in Solihull, was diagnosed with MND in October 2023 and went on to create the Matt Gallagher Foundation to support families in the West Midlands affected by the than 200 people gathered at the Old Silhillians Rugby Club on Saturday for the 3-km (1.86-mile) event, known as Matt's foundation's efforts have raised more than £600,000 since it was founded and the run was expected to add another £20,000. Speaking at the event, Mr Gallagher said in the last couple of weeks he had started to rely on the use of a wheelchair on a semi-permanent basis. "What happens is you lose the use of your arms and legs but my tongue is fine," he said."I take everything with a smile now, we're here to make memories and try and raise awareness."The really important thing is we want to have a good time along the way and bring the community together."A spokesperson for the foundation said the money raised had supported 40 families in the region by paying for adaptations to their homes such as installing wet rooms and hoists. Mr Gallagher said he was inspired by rugby league legend Rob Burrow who raised nearly £20m with the help of his fellow teammate Kevin Sinfield before he died in 2024 after living with MND. He had vowed to "pick up the baton" after Burrow's death and Matt's Run was part of a series of events to get people in the area involved and raise awareness of the disease. Hollie-Mae Gallagher, the foundation's manager, added the event was about more than just fundraising. "It's about instilling hope and making a real difference in the lives of MND warriors," she said. Follow BBC Birmingham on BBC Sounds, Facebook, X and Instagram.
