Upcoming auction: The next federal offshore oil and gas lease sale in the Gulf is scheduled for March 11, opening more than 80 million acres to bidding. The auction is part of a long-term plan mandating dozens of offshore sales through 2040, aimed at boosting domestic energy production and replenishing future supply pipelines. Read more from The Center Square.
Slimming down: Red Lobster’s CEO says the seafood chain must shrink further as it continues its post-bankruptcy turnaround. After closing about 130 locations in 2024, the company is reviewing leases, cutting costs and focusing on stronger-performing restaurants. Sales and customer sentiment have improved, but executives say more closures may be needed to fully stabilize the brand. The restaurant chain currently has two locations in Louisiana—at the Mall of Louisiana in Baton Rouge and in Monroe. Read more from The Wall Street Journal.
$4.75B cash deal: Google has agreed to acquire Intersect, a data center and energy developer, for $4.75 billion in cash as it accelerates investment in artificial intelligence infrastructure. The deal gives Google added data center capacity and access to power generation assets, helping support energy-intensive AI workloads amid an intensifying race among tech giants. Read more from The New York Times.
