01
Molecules
Mineral, royalty, surface, leasehold, and working interests in the liquids-rich Utica window — with Marcellus depth as the long-duration book.
Royalty · production · assignment
Appalachian Basin · Investment · Holding
From molecules
to watts.
A closely held energy investment, acquisition, and holding company — coordinated ownership from subsurface interests to powered compute, anchored in the Utica and Marcellus.
0
Year One value target · Project Centum
0
Integrated engines · 365-day plan
0
Upstream acre target · Year One
0
Ohio core counties · live
01
Oil & Gas
Utica core · Marcellus minerals
02
Water & Logistics
Intermodal · Ohio River midstream
03
Power & Datacenter
Gas → electrons → compute
Vertical · 01
Oil & Gas
Year One upstream focus: the liquids-rich Utica/Point Pleasant window across a six-county Ohio core — minerals, leasehold, and royalty interests assembled under Project Centum’s E1 engine, with Marcellus depth as the long-duration book.
Vertical · 02 · Intermodal
Water & Logistics
Two Six Alpha Intermodal Terminal on the Ohio River — water, barge, and rail under one operating envelope for completion, industrial, and power-adjacent demand across the Marcellus / Utica fairway.
Vertical · 03
Power & Datacenter
Basin gas and contiguous partner land as feedstock for power and compute demand — the sixth Centum engine and the far end of the molecules-to-watts chain.
Investment mandate
Seven stages. One coordinated portfolio.
The public thesis is three verticals. The operating mandate is the full chain — molecules through development support, midstream, fuel, generation, powered facilities, and compute. Water, logistics, corridors, and the Platform support several stages at once.
Acquire. Enable. Connect. Deliver. Participate. Vertical integration joins successive stages. Horizontal integration adds supply diversity and scale inside a stage. Each project keeps a defined asset perimeter, budget, and commercial purpose.
02
Development support
Water, brine, proppant, and logistics around the completion program — service margin plus advance visibility into who is completing, and when.
Service · delivered cost · timing03
Midstream
Gathering, processing, storage, and delivery pathways that convert a resource position into specification-compliant, marketable products.
Throughput · capacity · netback04
Fuel
Fit-for-purpose commodities at the generation delivery point — title, firmness, quality, and hourly quantity, not royalty checks or annual totals.
Firm supply · reliability05
Generation
Power and useful thermal energy matched to a specific load — islanded, behind-the-meter, or hybrid — sized to the customer TSA intends to serve.
Availability · energy · heat06
Powered facilities
Land, buildings, cooling, water, and connectivity assembled as a campus product — powered land, powered shell, or turnkey colocation.
Ground rent · leases · services07
Compute
Selective participation in the operating compute business — only where customer IT, utilization, and hardware lifecycle are separately underwritten.
Colocation · compute returnsProject Centum · Year One
Six engines. Three hundred sixty-five days. Two hundred fifty million.
The operating plan behind the public thesis — from ownership of the molecules through water, sand, easements, and power-adjacent land. Day One: 3 August 2026. Day 365: 2 August 2027.
Mission clock
—/ 365
Loading plan…
$250M
Year One value target
6
Engines · integrated chain
~10.3k
Upstream acre target
6
Gates · certify & compound
E1Contracted
Upstream Interests
$130M
Ownership of the molecules — minerals, leasehold, non-op WI, ORRI, upstream JV, and NPRI — in the liquids-rich Utica window. Six acquisition sleeves, each with its own pricing basis and cure cycle.
MineralsLeaseholdNon-op WIORRIJVNPRI
E2Contracted
Units & Unitization
$20M
Scattered acreage becomes a marketable position when it sits inside ordered units. Tract rosters, participation, and owner depth are the platform’s native edge.
E3Contracted
Water & Logistics
$45M
An information engine as much as a revenue engine. Controlling water and haulage buys advance knowledge of who is completing — and when — before public permits.
E4Finalizing
Proppant & In-Basin Sand
$20M
Modern completions consume sand the basin cannot source locally. An in-basin position converts a cost line into pricing leverage and forward completion visibility.
E5Finalizing
Midstream & Easements
$12M
The right of way that moves the molecules — corridor intelligence and easement agreements that make holding the path worth more than the acreage under it.
E6Optionality
Shugert Land & Data Center
$23M
Partnership with the basin’s largest contiguous landowner — contiguity that makes midstream defensible and power load physically sitable next to its fuel.
Gate 1 · D61
Mobilize & Found
$20M cumulative
Gate 2 · D122
Acquire & Integrate
$55M cumulative
Gate 3 · D182
Scale the Core
$104M · half year
Gate 4 · D243
Compound & Contract
$156M cumulative
Gate 5 · D304
Monetize
$205M cumulative
Gate 6 · D365
Certify & Compound
$250M · year end
Screening narrative only — not a securities offering or solicitation. Dollar figures are Year One plan targets across six engines, not AUM or contracted revenue. Engine status badges (contracted · finalizing · optionality) mark build state; they are not underwriting marks.
Live basin feed
Utica six-county core · ODNR
Live
—
Horizontal wells
Six-county Utica core
—
Drilling / permitted
Active status window
—
Drilling units
ODNR unitization layer
6
Core counties
Harrison · Belmont · Carroll · Guernsey · Monroe · Tuscarawas
—
Harrison
View on map—
Belmont
View on map—
Carroll
View on map—
Guernsey
View on map—
Monroe
View on map—
Tuscarawas
View on mapRecorder activity pulse
—
Instruments · 7d
—
Leases
—
Deeds
—
Assignments
—
Counties active
Public snapshot of the six-county recorder monitor. Internal live scrape requires platform access.
Counts queried live from public Ohio DNR ArcGIS services. Screening view only — not a substitute for official ODNR records.
Market Context
The Utica Shale Moment
Institutional capital is validating what TSA recognized early — Ohio’s Utica is a world-class, multi-decade development play.
$5.6B
EOG Resources
Acquired Encino Acquisition Partners, elevating the Utica alongside the Delaware Basin and Eagle Ford. Running 5 rigs and 3 completion crews in Ohio.
17+ Bcf/d
LNG Export Demand
U.S. LNG exports driving a structural demand super-cycle. 4–6% CAGR in U.S. gas demand expected through 2030, with data-center power as a second pull.
136 Mb/d
Ohio Crude Production
Ohio condensate up nearly 3× since 2022. Harrison County alone produced over 13 million barrels of oil in 2025 from Utica volatile oil window wells.
“The Utica absolutely has the opportunity to be a foundational play. If we continue to have the success that we expect, you can expect us to put more capital there.”— Jeff Leitzell, COO, EOG Resources
Platform & Capabilities
The operating system behind every deal
Proprietary technology — not a slide deck. Twelve featured desks over one ontology, built to replicate how Two Six Alpha originates, underwrites, and manages investments across the molecules-to-watts chain.
Recorder Activity Monitor
Daily automated scrape of all 6 Ohio core counties. Operator counter-party intelligence and instrument flow in one feed.
Two Six Alpha Intermodal Terminal
Ohio River midstream flagship — water, barge, and rail under one envelope for completion and industrial volume (Centum E3).
Spatial Intelligence (GIS)
Authoritative ODNR + ArcGIS geometry first. Wells, units, laterals, pads, and operator footprints layered into one workbench.
CRM & Title Integration
Purpose-built deal management for mineral and leasehold acquisitions. In-house title and curative wired to the recorder feed.
Unitization Intelligence
Tract rosters, participation, and owner depth — the E2 edge that turns scattered acreage into marketable unit positions.
Live Operations Map
Interactive ODNR wells and drilling units across the Utica six-county core — open on Oil & Gas.
Platform · command pins
The desks that make the mandate executable.
Same structure as the live Two Six Alpha Platform: twelve always-visible identities over one ontology. Each desk answers an investment question. Together they are how the company sees the basin, prices a tract, and stages capital along the chain.
01 Asset acquisition
02 Tools
03 Intelligence
04 Power & data center
05 Cortex
01 · Today
Planner
Plan the day, then work the queue that feeds it — cadence, mission, and the Year One spine.
E1–E6 · Centum
02 · Originate
Projects
What we are working right now — pipeline, tract dossiers, Utica core, and deal rooms.
E1 · Acquisition
03 · Atlas
Basin map
Where it is. Wells, units, parcels, and AOIs on one map spine.
GIS · Live ODNR
04 · Rights
Title
What the application supports — examiner desk for chain, curative, and §1509 families.
E1 · Close
05 · Hub
Kammer
Ohio River intermodal node — water, barge, rail, and industrial siting in one envelope.
E3 · Terminal
06 · Water
Logistics intel
Sources, completions, impoundments, brine, and haulage — the information engine around E3.
E3 · E4
07 · Units
Unitization
Tract rosters, participation, and owner depth — where scattered acreage becomes a marketable position.
E2
08 · Price
Valuations
What it is worth — type curves, per-acre NPV10, and screening models tied to offset wells.
E1 · Underwrite
09 · Record
Conventional
What the conventional record actually shows — forensics on the shallow book beside the unconventional core.
Basin intel
10 · Watts
Power & campus
Dirt to megawatts — site products, water, power path, and staged campus diligence.
E6
11 · Cash
Revenue
Royalty and working-interest payment audit — what the check run actually paid.
E1 · Realize
12 · Cortex
Query
The platform’s model of itself — typed query across tracts, instruments, operators, and contracts.
Ontology
Industry & Market Updates
Latest signals
March 2026
EOG elevates Utica to top-tier status
EOG drilled 16 wells across six defined pads in Ohio in 2026, running primary rigs in Harrison and Guernsey counties.
February 2026
Oil production soars across Ohio’s Utica
Harrison County produced over 13 million barrels of oil in 2025. Carroll County added 12.3 million barrels from Utica wells.
March 2026
New ODNR unitization orders
Multiple new EOG unitization orders in Carroll County confirm aggressive development planning for 2026–2027.
Two Six Alpha
Build with us.
Building assets across the energy lifecycle — exploration and development, logistics and midstream, generation and consumption. Founder-led. Primarily self-funded. Selective long-term partners.
Oil & Gas
Utica core.
Marcellus depth.
Primary focus on Ohio’s volatile oil / liquids-rich Utica window, with established Marcellus mineral and royalty positions across Pennsylvania and West Virginia.
~10,000
Core mineral & leasehold acres
6
Ohio core counties
$300M+
Marcellus portfolio
$2.5–3.5k
Entry cost / acre (core)
Live basin feed
ODNR metrics · six-county core
Live
—
Horizontal wells
SLANT = H · six counties
—
Drilling / permitted
Drilling · Permitted · Drilled
—
Drilling units
Unitization layer (ODNR)
6
Core counties
Live map below
—
Harrison
View on map—
Belmont
View on map—
Carroll
View on map—
Guernsey
View on map—
Monroe
View on map—
Tuscarawas
View on mapSame public feeds power the interactive map. Horizontal well counts by county update with the live deck. Toggle drilling units in the map legend.
Position
A six-county window in the highest-quality rock of the play
Two Six Alpha has assembled approximately 10,000 acres of mineral and leasehold in the volatile oil / liquids-rich window of the Utica/Point Pleasant — spanning Harrison, Belmont, Carroll, Guernsey, Monroe, and Tuscarawas. In partnership with landowners, approximately 42,000 acres across Southeast Ohio and Northwest West Virginia.
The Bardall/Owens prospect anchors the portfolio at 3,099 gross acres across 26+ lessors, complemented by Cyrus/Freeport and a robust top-lease pipeline. Entry costs of $2,500–$3,500/acre compare to modeled NPV10 of $12,321/acre on offset type-curve economics — a compelling risk-adjusted entry versus IPO-implied valuations in the basin.
Validated by step-change well performance from offset operators including EOG Resources, Infinity NR, and Ascent Resources — combining advanced geological targeting with modern completions.
Upstream sleeves · E1
Acquire the particular interest that fits the opportunity
A mineral acre and an ORRI acre do not carry the same risk, the same duration, or the same claim on the wellbore. Year One treats six acquisition instruments as separate sleeves — each with its own pricing basis, diligence path, and cure cycle.
| Interest | Investment role | Principal question |
|---|---|---|
| Minerals & royalty | Durable exposure to the mineral estate and production revenues; leasing and disposition value. | What fraction, depth, and formation are conveyed — and which executive, bonus, and royalty rights travel with them? |
| Surface | Pads, access, storage, utility routes, and future development sites. | Does surface control include the uses required, and how do severed minerals affect development? |
| Leasehold | Aggregate development rights — assign, farm out, contribute to a JV, or participate in drilling. | What holds the lease, when can it expire, and what pooling, depth, Pugh, and assignment terms apply? |
| ORRI | Production-linked income carved from leasehold with limited direct development-cost exposure. | What burden is of record, what deductions apply, and what happens on lease expiration or replacement? |
| Working interest | Direct participation in development economics, including selected non-operated positions. | Do NRI, AFEs, operating costs, elections, and operator performance support the return? |
| NPRI & upstream JV | Additional royalty structures and negotiated participation in defined development areas. | What participation rights, duration, capital calls, governance, and exit rights are actually granted? |
The acquisition process is itself an investment capability: it converts fragmented records and rights into a position that can be developed, financed, managed, or sold.
01
Originate
Ranked tract and owner opportunities tied to formation, operator, unit, and instrument.
02
Establish rights
Source-linked chain of title, lease chronology, burdens, fractions, and a curative plan.
03
Underwrite
Interest-specific cash flow, development schedule, title cost, and exit analysis.
04
Aggregate & close
Executed documents, funds-flow, recorded instruments, and an updated asset register.
Live operations
Wells, units, and prospects
Horizontal wells and drilling units in the Utica six-county core — live from Ohio DNR, on statewide imagery that sharpens to Ohio 6-inch orthoimagery as you zoom in. Prospect footprints approximate.
Drilling / newly permitted
Producing horizontal
Drilling units
TSA prospect (approx.)
Live well & drilling-unit data: Ohio DNR — Harrison · Belmont · Carroll · Guernsey · Monroe · Tuscarawas. PA & WV Marcellus not shown. Basemap: Esri World Imagery, with Ohio Statewide Imagery Program 6-inch orthoimagery as you zoom in.
Core counties
Where we operate
Harrison, OH
Primary Utica leasehold anchor. Bardall/Owens: 3,099 gross acres across 26+ lessors. EOG produced 13M+ bbls oil in county in 2025.
Belmont, OH
Dry-gas / wet-gas corridor along the Ohio River. Active EOG, Ascent, and Encino programs; meaningful unitization pipeline.
Carroll, OH
Original Utica core. 12.3M+ bbls oil in 2025; strong multi-pad offset results.
Guernsey, OH
Cyrus/Freeport prospect and top-lease pipeline. Emerging volatile oil window.
Monroe, OH
Southern Utica wet-gas window. Adjacent to Two Six Alpha Intermodal Terminal.
Tuscarawas, OH
Northern-tier development with direct EOG drilling and expanding unitization.
Well Economics
Xavier Unit type curve — single well
10,000 ft lateral. Three-stream development: oil + gas + NGL. Based on offset operator performance in TSA’s core Harrison County position. Screening-grade only.
$15.8M
BT NPV10
109%
BT IRR
$9.9M
AT NPV10
72%
AT IRR
$12,321
BT NPV10 / acre
Mo. 10
Breakeven
1.6×
Return on investment
$8.51
F&D / BOE
Key assumptions
Oil EUR529,724 Bbls
Gas EUR4,426,500 Mcf
NGL EUR442,650 Bbls
3-Stream BOE EUR1,488,799 BOE
Oil Price$65.00/Bbl
Gas Price$3.25/Mcf
NGL Price$28.00/Bbl
D&C Cost$12,500,000
Working Interest100%
Royalty Burden17.5%
Interactive decline curve calculator
Adjust parameters to model production decline and estimate 5-year EUR. Modified Arps hyperbolic decline. Screening tool only — not underwriting.
1,500 BOE/d
65%
1.20
—
5-Year EUR (BOE)
—
Est. Oil (Bbls)
—
Est. Gas (Mcf)
—
Payout (Months)
Safety & Responsibility
Environmental, social & governance
Operations guided by safety, environmental stewardship, and responsible development of Appalachian resources.
Environmental stewardship
Continuous evaluation to minimize environmental impact, supporting water recycling and emissions monitoring programs.
Social responsibility
Integrity, security, and wellbeing of team members, business partners, and local communities — embedded in how we operate.
Governance
In-house legal counsel for securities, environmental, and operational compliance. Transparent reporting and rigorous investment structuring.
Explore partnership opportunities
Landowners, operators, and selective long-term partners — start a conversation.
Water & Logistics · Project I
Two Six Alpha
Intermodal Terminal.
Midstream water and logistics on the Ohio River — frac, industrial, and power-adjacent demand, at Cresap Bend, West Virginia.
58.33
Acres · Flagship terminal
E3
Centum · Water & Logistics
42
Barge dock capacity
120
Car rail loop
Project I · Flagship Midstream
Ohio River intermodal hub
The Two Six Alpha Intermodal Terminal is our flagship midstream position on the Ohio River — a 58.33-acre riparian site at Cresap Bend, West Virginia. Water, sand, rail, and barge under one operating envelope for frac, industrial, and power-adjacent demand along the Marcellus / Utica fairway.
Direct Ohio River barge access for inbound sand & aggregate and outbound proppant logistics. Unit-train capable 120-car rail loop with connections to Northern Appalachia frac sand corridors. A ~100-mile logistics ring covers active Utica/Marcellus drilling across Ohio, Pennsylvania, and West Virginia from a single dispatch point. Project Centum’s E3 engine treats water & logistics as both revenue and information — advance visibility into completion programs before public permits.
58.33 ac
Riparian footprint
Cresap Bend, WV — river frontage with industrial staging depth.
$45M
Centum E3 target
Year One plan target for the water & logistics engine — capacity-basis book converting to contracted volume.
~100 mi
Logistics ring
Single dispatch envelope across OH · PA · WV drilling corridors.
Barge + rail
Modal optionality
42-barge dock + 120-car loop — volume truck-only networks cannot match.
Capabilities
What the Intermodal Terminal unlocks
01
Frac water
Completion-scale water for multi-pad Utica and Marcellus programs across the six-county core and beyond.
02
Proppant logistics
Inbound sand and aggregate via barge and rail; outbound proppant for active fairway pads.
03
Industrial siting
Water and logistics adjacency for industrial users that need river access and reliable volume.
04
Power adjacency
Feedstock and water optionality for power concepts that sit next to basin gas molecules.
Water as an operating business
The lowest supported capacity governs the commitment
Investment form can range from direct ownership to a source lease, capacity reservation, easement royalty, dedicated supply agreement, or project JV. Measure the full chain — lawful source access → sustainable yield → intake → storage → route → delivery pressure and quality.
01
Source access
River and surface sources aligned to frac schedules and operator specifications — and, after quality review, construction and cooling supply.
02
Yield
Sustainable withdrawal, drought response, and registration status treated as underwriting inputs, not brochure metrics.
03
Intake
Pumping assets and lawful intake capacity — the first physical constraint on what can actually be sold.
04
Storage
Impoundments and tanks that buffer intermittent sourcing against high instantaneous completion demand.
05
Route
Temporary and permanent pipe, boosters, and haulage that reduce congestion and coordinate pad deliveries.
06
Delivery
Pressure, quality, reserved quantity, and remedies — a capacity charge separated from volumetric charges.
Produced water · proppant
Close the loop around production
Gather & transport
Per-barrel collection and movement; pipe or terminal service where truck cycle time no longer clears.
Treat & recycle
Reusable water sales where chemistry and timing fit the receiving completion program — quality is not interchangeable with cooling water.
Disposal capacity
Class II injection is the relevant well class. Authorized fluids, operating limits, and a workable plan when one destination is unavailable.
In-basin + inbound sand
Qualified material and dependable delivery across the operator’s completion schedule — in-basin investment plus out-of-basin partnerships, sized from observed designs, not a named mine.
Terminal last mile
Storage, rail/barge unloading, transload, and silos where volumes justify ownership — translating supply into pad delivery.
Information advantage
An operator must tell its water and sand providers what it will complete, where, and when — long before that becomes a public permit.
Value chain
Oil & gas → water → power
Upstream demand
Completion water and produced-water handling for multi-pad Utica and Marcellus programs across the six-county core and beyond.
River logistics
Barge and rail optionality on the Ohio River — flexibility truck-only networks cannot match at volume.
Industrial & power
Water and logistics adjacency for industrial siting and power-generation concepts that depend on reliable basin feedstock.
Discuss the Intermodal Terminal
Terminal access, partnership structure, or industrial siting conversations for the Two Six Alpha Intermodal Terminal.
Power & Datacenter
Gas to electrons.
Basin to compute.
Appalachian natural gas as feedstock for power and the next wave of compute demand — viewed through a holding-company lens, not a utility pitch.
17+ Bcf/d
U.S. LNG export demand
4–6%
U.S. gas demand CAGR thru 2030
AI / DC
Structural power load growth
OH · PA · WV
Basin operating footprint
Thesis
The third leg of molecules to watts
Two Six Alpha’s platform spans upstream minerals and leasehold, midstream water and logistics, and the strategic adjacency of power and compute load that increasingly competes for Appalachian gas molecules.
We do not position as a regulated utility or a datacenter developer. We position as a founder-led investment platform that understands the full chain — rock, water, logistics, and the power demand super-cycle reshaping where capital wants to sit in the basin.
01
Molecules
Utica / Marcellus minerals and leasehold — liquids-rich rock in a six-county Ohio core plus Marcellus depth.
02
Water
Two Six Alpha Intermodal Terminal on the Ohio River — withdrawal right, barge, and rail for completion and industrial volume.
03
Electrons
Basin gas as feedstock for power generation concepts sitting next to fuel, water, and logistics.
04
Compute
Data-center and industrial electrification as structural demand that re-prices Appalachian position.
Generation
Design power around the consuming investment
TSA can own generation, participate with an experienced operator, or retain land, fuel, water, and corridor interests around a third-party plant. Commit capital after site, fuel path, permit strategy, equipment, and creditworthy demand share a schedule.
Islanded onsite
A customer that can operate with a fully defined onsite power and resilience system — firm fuel, unit redundancy, black start, and load management.
Grid-parallel BTM
Onsite generation serving a campus with agreed grid import, backup, or export — parallel-operation terms, protection, and tariff costs explicit.
Grid-delivered / hybrid
A phased campus combining utility service, onsite assets, and contracted supply — owner-specific study, upgrade, and delivery-date obligations.
Campus products
Deliver a fully powered, water-supported facility
Customer acceptance is available IT capacity on a specified date, at a defined density and service level. Contracted IT MW, facility MW, and generator nameplate stay separately stated. Screening targets are not delivered megawatts.
01
Powered land
Site control, developable land, corridors, and a defined deliverable utility package.
02
Powered shell
Land package plus building shell, service entry, and agreed infrastructure.
03
Turnkey / colo
Completed power, cooling, water, building, controls, and facility operations to specification.
04
Compute participation
Servers, accelerators, and customer services — separately underwritten from real estate and power.
Context
Why the basin matters now
LNG pull
Structural export demand and long-cycle gas contracts keep Appalachian supply central through the end of the decade.
Power & compute
Data center and industrial electrification create siting questions around fuel, water, interconnect, and community — questions that start with basin position.
Integrated control
Owning or partnering across minerals, water logistics, and power adjacency reduces coordination friction pure-play capital cannot easily buy.
Posture
Holding-company lens. Not a utility pitch.
Power and datacenter are the third vertical in an integrated chain — not a standalone developer brochure. Conversations start with basin position, feedstock reality, and water/logistics adjacency.
- 01Non-solicitingSelective partner dialogue only — not a public capital raise or securities offering.
- 02Chain-awareRock, water, and logistics inform every power-adjacency conversation.
- 03Basin-nativeOH · PA · WV operating footprint with founder capital on every deal.
17+ Bcf/d
U.S. LNG export demand
Structural pull on Appalachian gas through the decade.
4–6%
U.S. gas demand CAGR
Power and industrial load as a second demand super-cycle.
AI / DC
Compute load growth
Siting questions that start with fuel, water, and interconnect.
Talk power adjacency
Selective conversations on siting thesis, feedstock, and integrated infrastructure.
Strategy · Molecules to watts
One investment mandate.
The full lifecycle.
Coordinated ownership, contractual control, and management of the assets that connect energy production to productive electricity use — from the molecules through infrastructure to watts and compute.
7
Lifecycle stages
6
Centum engines
5
Functional sleeves
G0–G5
Evidence gates
Company statement
Investment · Acquisition · Management · Holding
Two Six Alpha, LLC is a comprehensive investment, management, and holding company focused on opportunities across the energy lifecycle — from the acquisition and development of oil and gas interests (the Molecules) through the infrastructure, commodities, and generation assets that convert those resources into power (the Watts) and into the large-scale data centers and compute infrastructure that consume that power.
The mandate includes mineral and royalty interests, related surface, leases and leasehold, overriding royalty, and working interests. Those investments are supported by water sourcing, storage, transfer, produced-water recycling and disposal, in-basin sand and proppant, out-of-basin supply partnerships, intermodal terminals, transportation, and purpose-specific easements. Midstream investments connect production to gathering, compression, processing, fractionation, transportation, storage, and market delivery.
The downstream mandate extends to specification-compliant fuel, purpose-built generation and cogeneration, and large-scale data centers with integrated power, water, cooling, and connectivity. TSA may invest directly, through affiliates and project entities, or alongside landowners, operators, infrastructure providers, and capital partners. Ownership and contract form follow the control required, the cash flow available, and the risk assumed at each stage.
The management mandate is broader than any currently evidenced asset base. This page describes the integrated destination and how capital is staged — it does not certify that every asset or partnership has closed. Screening narrative only; not a securities offering.
Lifecycle architecture
How the investments connect
Seven stages organize the mandate. Water, logistics, corridors, and the Platform support several stages simultaneously.
01
Molecules
Acquire mineral, royalty, surface, leasehold, and working interests.
Royalty · production · assignment02
Development support
Water, brine, proppant, and logistics around the development program.
Service margins · execution03
Midstream
Connect production to processing, storage, and delivery points.
Throughput · capacity04
Fuel
Fit-for-purpose commodities at the generation delivery point.
Firm supply · reliability05
Generation
Power and useful thermal energy matched to specific loads.
Availability · energy · heat06
Powered facilities
Land, buildings, cooling, water, and connectivity.
Ground rent · leases07
Compute
Support customer IT or invest selectively in an operating compute business.
Colocation · computeHolding structure
A coordinated parent with defined project risks
Functional architecture — investment roles, not a claim that new legal entities have been formed. The parent sets strategy, allocates capital, approves transactions, and coordinates shared acquisition, title, commercial, financial, and Platform services.
01
Upstream vehicles
Minerals, royalties, leasehold, working interests, and development JVs. Separate cost-bearing WI from passive royalty where appropriate.
02
Water · sand · logistics
Intakes, storage, treatment, disposal interests, mines or supplier equity, terminal assets, and transportation contracts.
03
Midstream / corridors
Gathering and processing interests, laterals, capacity commitments, and specifically granted real-property rights.
04
Fuel / generation
Commodity obligations, plants, O&M contracts, generation-site leases, and energy-service agreements.
05
Land / data center
Site control, campus improvements, customer leases, cooling, and facility operations. IT investment is separately identified.
Opportunity clusters
Combine projects where the physical and contractual links work
The portfolio can share capabilities without requiring every asset to sit on the same site. Co-location is demonstrated by surveyed boundaries and feasible routes — not by a shared brand.
Ohio core
Upstream / units
Minerals, leasehold, and selected WI as the economic base; title and unit intelligence guide acquisition and development.
Next: executed interests, operator program, water/proppant demand, realized revenue.E3
Regional water network
Sources, impoundments, storage, and transfer routes that can serve nearby completion programs — and later, campus makeup.
Next: source control, hydraulic design, anchor-customer volume.Intermodal
Kammer terminal node
River frontage and industrial logistics for inbound sand and equipment, water services, and product movements.
Next: present title, asset condition, authorizations, contracted lanes.E4
Proppant platform
Qualified in-basin investment plus out-of-basin sourcing and terminal services to diversify supply and improve delivery.
Next: tested material, supplier agreements, operator qualification.E5
Midstream / generation bridge
Processing, fuel delivery, and generation coordinated around dependable output and a defined consuming load.
Next: firm specification-compliant supply, transport, plant-boundary delivery.E6
Powered campus
Landowner partnership, gas proximity, water access, and site assembly for a phased data-center development thesis.
Next: site control, customer requirements, power path, defined first phase.Execution sequence
Advance by evidence and commercial commitment
Stage investments so early work establishes rights and demand before large construction obligations become irreversible. A gate has an owner, a due date, a source-linked completion record, and a clear consequence if it fails.
G0
Investment fit
Asset perimeter, lifecycle role, expected customer, baseline economics, accountable sponsor. Authorize a bounded screening budget.
G1
Control & feasibility
Option terms, title and survey, environmental scope, route and utility feasibility, qualified supply.
G2
Commercial definition
Customer requirements, executable supply terms, credit, volumes, dates, and prices.
G3
Final investment
Definitive rights and contracts, permit status, EPC plan, firm funding, operating plan.
G4
Commissioning
Performance tests, custody-transfer and billing, operating readiness, customer acceptance.
G5
Operate & recycle
Cash and operating results, covenant compliance, approved disposition or expansion case.
Value creation
Underwrite the whole chain and each investment
Integration creates value when it improves realizable revenues, total external costs, utilization, reliability, or capital efficiency. Count a delivered-cost saving once. Eliminate intercompany sales where entities consolidate.
Upstream
Realized sale proceeds or supportable retained-interest value after acquisition, curative, development, and transaction costs.
Water · sand · terminal
External-customer revenue less the full operating and capital cost of delivery. Internal service charges are eliminated on consolidation.
Midstream & fuel
External fees and margins; separately measure any cost or reliability advantage provided to owned production and generation.
Power & useful heat
Contracted energy and capacity after fuel, O&M, reserves, and infrastructure. Thermal benefits require an actual use.
Land · campus · compute
Ground rent, development proceeds, facility income, and any separately underwritten compute revenue, net of power and service costs.
Contracts make it investable
Every dependency needs a responsible party, a measurable service, and a remedy that fits financing and operating obligations.
See the operating system
The Platform is how this mandate is originated, underwritten, and run — twelve desks over one ontology.
Platform · Twelve desks · One ontology
The operating system
behind every deal.
Built to replicate how Two Six Alpha invests: originate the tract, establish the rights, underwrite the instrument, connect water and midstream, and stage power-adjacent land — on live basin data, not a slide deck.
12
Featured desks
5
Landing workflows
6
Ohio core counties
Live
ODNR · recorder · units
Why it exists
Replicable of the company, not a brochure of it.
The Platform is a Foundry-style ontology with many operational apps, framed as twelve featured workspaces. It connects the underlying tracts, instruments, operators, development schedules, infrastructure, and contracts so each investment can be evaluated both independently and in relation to the portfolio.
Gold is brand and CTA. Data blue is charts, maps, and selection. Work surface first. Live feeds degrade honestly. Density is Focus · Work · Full — capability stays wired; chrome recedes.
Ontology
Substrate
Typed objects, gold tables, and source-linked empty states — not demo filler.
Metrics
Semantics
KPI strips, ranked queues, and filters that name the next action.
Propose
Cognition
Answer and propose. The system does not auto-execute irreversible outward actions.
Command pins
Always-visible identities
Twelve desks, always one click from the door. The rest of the catalog stays one expand away — never only behind search.
01 Asset acquisition
02 Tools
03 Intelligence
04 Power & data center
05 Cortex
01
Planner
Plan the day, then work the queue that feeds it — Daily Operations Brief and the Centum mission spine.
Today · Cadence
02
Projects
What we originate and take to paper — radar, pipeline, offer, room.
Active projects
03
Atlas
Where is it? GIS, operations map, parcels, AOIs — one map spine.
Interactive basin atlas
04
Title
What the §1509 application supports — examiner desk, never a chain edge by itself.
Title support
05
Kammer
The proposed connecting hub on the Ohio River — water, barge, rail, industrial siting.
Water & logistics
06
Water
Sources, completions, impoundments, brine, and haulage we run or screen.
Water intel
07
Unitization
Tract rosters, participation, owner depth — scattered acreage becomes a marketable unit.
Basin intelligence
08
Valuations
What is it worth — Utica type curves and per-acre screens tied to offset wells.
Valuation
09
Conventional
What the conventional record actually shows — forensics beside the unconventional core.
Shallow operator
10
Power
Dirt to megawatts — site products, water, PowerPath, staged campus diligence.
Data center development
11
Revenue
Royalty and working-interest payment audit — what the check run paid.
Payment audit
12
Cortex
The platform’s model of itself — typed query across tracts, instruments, operators, and contracts.
Platform query
Mandate → desk
How the Platform maps the investment chain
Each lifecycle stage has a desk that originates, prices, or operates it. The Year One engines sit on the same spine.
| Stage / engine | Desk | What the desk makes executable |
|---|---|---|
| 01 Molecules · E1 | Projects · Title · Valuations · Revenue | Originate the tract, establish the instrument, underwrite cash flow, reconcile the check. |
| 02 Units · E2 | Unitization · Atlas | Tract rosters, participation, owner depth, and the map of ordered units. |
| 03 Water / sand · E3 E4 | Kammer · Water | Source-to-pad chain, brine destinations, proppant demand model, terminal envelope. |
| 04 Midstream · E5 | Atlas · Basin intel | Corridor index, pipeline and facility coverage, netback screens — intelligence, not claimed ROW. |
| 05–07 Watts · E6 | Power · Water · Atlas | Site products, fuel and water adjacency, PowerPath diligence, staged campus gates. |
| Cadence | Planner · Cortex | Year One mission clock, ranked queue, typed query across the ontology. |
How work moves
Intel queue → deal surface → next gate
01
See
Recorder pulse, ODNR wells and units, operator programs, and corridor index on live public feeds.
02
Rank
Signals bound to ontology objects — a tract, an instrument, an operator — not a generic alert inbox.
03
Paper
Radar and origination rooms read the same queue. Title and valuation sit one click from the row.
04
Stage
G0–G5 on the strategy page; Centum gates on Year One. A favorable screen authorizes the next defined diligence step.
Member access is invite-only. Public pages show screening views and live ODNR geometry. Internal live scrape, title work product, and deal rooms remain behind the door. This is not a software product launch.
Work the basin with us
Landowners, operators, and selective long-term partners — the same desks run the conversation.
Company
Founder-led.
Basin-native.
A closely held investment, acquisition, and holding company combining operational knowledge, in-house legal expertise, and conviction-driven capital allocation across Appalachia.
About
Two Six Alpha, LLC
Mission: Two Six Alpha continues to build assets across the energy lifecycle — from exploration and development, logistics and midstream, to generation and consumption. Project Centum is the Year One operating plan: six engines, 365 days, a $250M value-creation target.
Headquartered in Texas and operating across Ohio, Pennsylvania, and West Virginia, Two Six Alpha is the sole party to every transaction — a single, vertically integrated platform spanning minerals and leasehold acquisition, working-interest participation, midstream water & logistics (anchored by the Two Six Alpha Intermodal Terminal), in-house title and curative, and a proprietary technology stack (GIS, unitization intelligence, recorder-office monitoring, deal management, unit economics).
We believe the Appalachian Basin has multi-decade potential. By combining deep operational knowledge, in-house legal expertise, and disciplined capital allocation, we are built for the next generation of energy investment in Appalachia — from molecules to watts.
Upstream
Molecules
Minerals, royalties, leasehold, WI, ORRI, NPRI, and development JVs.
Services
Water · sand · logistics
Sources, terminal, brine, and proppant around the completion program.
Corridors
Midstream
Gathering, processing, laterals, and purpose-specific real-property rights.
Electrons
Fuel · generation
Specification-compliant fuel and purpose-built power matched to load.
Compute
Campus
Powered land, shell, turnkey facilities — IT separately underwritten.
TX
Headquarters
OH
Utica core
PA · WV
Marcellus depth
6
Centum engines
Platform
What we run on every deal
Recorder monitor
Daily automated scrape across the six-county Ohio core — instruments, counter-parties, and operator signals in one feed.
GIS & spatial intel
ODNR wells, units, laterals, and prospect footprints layered for acquisition and title work.
Title & curative
In-house legal and title — lease drafting, curative, and SPE administration without outside coordination tax.
Unit economics
Modified Arps type curves, per-acre NPV10, and screening models tied to offset operator performance.
Two Six Alpha Intermodal Terminal
Ohio River water and logistics flagship — barge, rail, and completion-scale water under one envelope (Centum E3).
Live operations map
Public ODNR wells and drilling units across the Utica six-county core — open on Oil & Gas.
Leadership
Co-Founders & Co-CEOs
Scott Bauer
Co-Founder · Co-Chairman & Co-CEO
Energy investor, former senior executive, and operator focused on the Appalachian Basin. Leads deal sourcing, capital allocation, and operator relationships.
Founded Braxton Acquisitions in 2008 after leading the Energy Division at Jones & Cannon, P.C. Negotiated approximately 40% of all leases signed in the Barnett Shale “Core Area” during 2008. Founded Braxton Energy with personal seed capital; first-year revenue exceeded $100 million. In 2014, Braxton Minerals deployed $7M over six months building an Appalachian mineral portfolio now valued in excess of $250 million.
Angela Bauer
Co-Founder · Co-Chairman & Co-CEO
Texas-licensed attorney leading in-house legal, title, lease, and regulatory strategy. Architect of TSA’s integrated transaction model.
President and COO of Braxton Energy (2008–2015). Title Manager at Paloma Resources (2006–2008), overseeing land activities for the Barnett Shale division including acquisition and divestiture of over 120,000 net acres in the Tier 1 core — later sold to Chesapeake Energy for over $200 million.
How we partner
Selective. Aligned. Not a public raise.
Two Six Alpha is primarily self-funded by its Co-Founders. Long-term partner capital is welcomed selectively through jointly owned Special Purpose Entities (Texas or Delaware LLCs) for which Two Six Alpha serves as managing member.
The company does not raise capital through private placement memorandums or other regulated securities offerings. Skin in the game on every deal — not a management-fee business dressed up as a partnership.
Legal + investment
Title, lease drafting, regulatory matters, and SPE administration run in-house — reducing coordination tax on every transaction.
Principal capital
Co-Founders self-fund the platform and invest alongside every SPE.
Texas domicile
No state income tax. Established oil and gas partnership law. Energy-focused service ecosystem.
Work with our team
Investors, landowners, and partners — reach out directly.
Contact
Let’s talk.
Whether you are a landowner, operator, or potential long-term partner, we welcome a direct conversation.
Message
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