Power
Power and the grid
None energized or contracted yet
On-site natural gas generationProposed, unpermitted
sponsor figure, proposed only; no air permit application found; the venture's legacy gas gathering pipelines would supply fuel Company · Sept. 2026
Grid power via a 345 kV lineClaimed, not contracted
sponsor claim of 20 MW available from Jan. 2026; no executed interconnection or service agreement found Company · Dec. 2025
Proposed
Related generation and energy contracts (context, not added to campus supply)
- Power provider letter of intent Non-binding letter3,000 MW; non-binding Aug. 2026 letter naming an unidentified company as exclusive provider for up to 3 GW across the venture's whole land portfolio, not Black Bear alone Company · Aug. 2026
Getting on the grid
Who supplies what, what it costs, and what is still not public.
- Dec. 4, 202520 MW grid claimJericho says 20 MW of grid capacity will be available from Jan. 2026 on a new 345 kV line, using the Southwest Power Pool's accelerated process. Company · Dec. 2025
- Jan. 15, 2026SPP large-load process approvedFERC approves a 90-day study process for large loads paired with new generation, the route the sponsors cite. Utility regulator · Jan. 2026
- Aug. 12, 2026Non-binding power letterThe venture signs a letter of intent with an unnamed power company for up to 3 GW across its land. Company · Oct. 2026
- As of Oct. 2026No grid filing foundNo study or interconnection filing naming the venture has been published by the grid operator. see Permits
- No utility is named in the venture agreement, the public filing or any release, though the sponsors claim dual-utility grid access. Company · Sept. 2026
- Oklahoma's 2025 law SB 480 lets qualifying users build and run behind-the-meter generation outside utility regulation, the basis the sponsors cite for the power design (press). News report · July 2025
- No plant for this campus appears in EIA's federal generator inventory (EIA-860M, Aug. 2026). That inventory covers grid-connected plants only, so an off-grid plant may not be listed yet. State agency · Oct. 2026
Permits
Permits checklist
4 checked, nothing on file
- –Checked, nothing on file: Air permit for gas turbines or engines, Water rights, Large-load study and interconnection, County land-use approval
Risks
What could slow it down
- HighNo tenantNo tenant is named in the filing, the venture agreement or any sponsor release through Oct. 2026. SEC filing · Oct. 2026
- HighNo power contract or permitNo utility, air permit, water permit, grid filing or county application is on record. The 3 GW power letter is non-binding and names no company. Company · Aug. 2026
- HighSmall sponsors, large claimComstock has about $92M in assets, its funding of the venture is capped, and Jericho is a micro-cap (press); the stated size is 2,646 MW. Company · June 2026
- MediumLand is options, not a parcelDocumented rights cover 4,000+ acres against 6,000 claimed, and no parcel or address has been published. SEC filing · June 2026
- MediumScale of the build pathwayThe sponsors' pathway goes from 20 MW in 2026 to 2,646 MW in 2032, with 1,670 MW in 2031 alone, and no OEM or construction financing is named. Company · Sept. 2026
Money
Money on record
$10M
agreed value of leases, pipelines and options
contributed by the Jericho side for 50% of the venture, June 2026 SEC filing · June 2026
$250K + $2.5M
Comstock's initial cash, then a second payment after due diligence
mandatory calls capped at $6M; up to $5M more at Comstock's option Company · June 2026
$92M
Comstock total assets, June 30, 2026
cash $25.3M; the venture is a land-assembly vehicle, not construction capital Company · June 2026
$10K a month
management fee to Comstock
accrues and is paid only on a sale, lease or development Company · June 2026
$1.5M
Comstock's Feb. 2026 stake in Jericho, about 7%
press terms: CAD $0.08 a unit News report · June 2026
Not on record: construction financing or debt: only venture development capital is on record SEC filing · June 2026
Timeline
What happened, and what is due
SitePaper trailConstructionPowerPermitsMoneyLegalUpcoming
- March 2025Site Jericho unveils a modular AI data center venture built on its Oklahoma gas assets. Company · March 2025
- April 9, 2025Power AT&T agrees to supply fiber to the first modular site. Company · April 2025
- Nov. 6, 2025Site Jericho publishes site details: 70 miles of gas pipeline, water storage and 345 kV lines. Company · Nov. 2025
- Dec. 4, 2025Power Jericho claims 20 MW of grid power from Jan. 2026 via a new 345 kV line. Company · Dec. 2025
- Feb. 12, 2026Money Comstock and Jericho sign a non-binding letter of intent; Comstock buys $1.5M of Jericho shares (press terms). News report · Feb. 2026
- March 5, 2026Site Oklahoma AI Ventures LLC is formed in Delaware. SEC filing · March 2026
- March 5, 2026Paper trail Oklahoma AI Ventures LLC registered in Delaware
- June 4, 2026Money Definitive 50/50 venture, contribution and first-offer agreements are signed; announced June 10. SEC filing · June 2026
- Aug. 12, 2026Power Venture signs a non-binding letter for up to 3 GW from an unnamed power company. Company · Oct. 2026
- End of 2026Power First 20 MW step of the sponsors' pathway, a company target with nothing contracted. Company · Sept. 2026
- June 4, 2031Money Five years on, either partner may use the venture's buy/sell right. SEC filing · June 2026
Construction activity
Since Oct. 2026: 1 satellite capture.
The buildings
Specs
~6,000 acres
land rights the sponsors cite (4,000+ acres of options documented in June 2026)
~60 miles
of gas gathering pipeline contributed to the venture (sponsors cite 70 miles)
10 Gbps
minimum fiber from AT&T at the first modular site, scalable beyond 100 Gbps
Who is involved
Owners, partners and builders
Owners
- Comstock Holding Companies (Nasdaq: CHCI): 50% through CHCI Oklahoma Ventures; leads development
- Jericho Energy Ventures (TSXV: JEV): about 25% effective interest through Rising Eagle LLC
- Eagle Road Oil: contributed the leases and pipelines, then withdrew as a member
Developer vehicle
- Oklahoma AI Ventures LLC: Delaware company formed Mar. 5, 2026
Counterparties
- Unnamed power company: non-binding letter for up to 3 GW
- AT&T: fiber partner
- Infracore: modular data center partner
Regulators
- Noble County Commissioners: land use
- Oklahoma DEQ: air permits
- Southwest Power Pool: large-load studies
Still unknown
Open questions
- Any tenant or customer.
- Who the unnamed power company is, and whether the letter becomes a contract.
- The exact parcel, since no address or coordinates are published.
- Whether any air or grid application is ever filed.
Where this comes from
150 records from 28 documents
Drawn from company statements, news reports, securities filings, business registries, state agency records, utility regulator dockets, local government records, public and commercial datasets and satellite captures, each kept with its date and source. The bar shows documents by type.
Company 11News report 6SEC filing 4State agency 3Utility regulator 2Local government 1Dataset 1Satellite 0
Evidence
Every quote behind this page
Grade key: A = the primary record itself (permit, filing, exhibit) · B = a dated official statement · C = news reporting. Map distances are our own measurements on OpenStreetMap and carry no grade. Allegations in lawsuits are marked as such in the quotes.
Power (33)
- Utility service: not stated“no executed interconnection or electric service agreement is described in the 8-K, the LLC agreement or sponsor releases”SEC filing · Oct. 2026 · grade A
- Stage: announced only - land assembly / powered-land platform at pre-development stage“any expenditure necessary to complete the Pre-Development Activities as provided for in any Approved Annual Pre-Development Budget”Company · Oct. 2026 · grade A
- Gas supplier: Jericho legacy system: Eagle Road Oil contributed approx. 60 miles of gathering pipeline plus oil, gas and mineral leases to the JV“including oil and gas leases, leasehold interests, roughly 60 miles of gathering pipeline, rights-of-way and easements, and land option agreements”SEC filing · June 2026 · grade A
- Land control date: June 4, 2026“Eagle Road agreed to contribute its oil, gas and mineral leases... and certain land option agreements relating to its Pawnee and Noble County assets”SEC filing · June 2026 · grade A
- Land contribution value: 10000000“with the Existing Property having an agreed fair market value of $10,000,000.00 (the “Approved Value”)”SEC filing · June 2026 · grade A
- IT capacity: not stated“figures representing phased power capacity for phases 1, 2 and 3... (power capacity x 8,760 hrs at ~7 cents/kWh)”Company · Oct. 2026 · grade B
- Paper or real: Paper: 2,646 MW pathway, no tenant, no permit, no OEM, no utility contract, micro-cap sponsors. Real: an executed JV holding a $10M agreed-value contribution of leases/options/gathering pipelines, options“The contributed property has an agreed value of $10,000,000”SEC filing · Oct. 2026 · grade B
- interconnection / large-load study: no filing found“SPP will establish a 90-day study-and-approval process for interconnecting large loads that will be paired with new generation (either on-site or nearby)”Utility regulator · Oct. 2026 · grade B
- Oklahoma AI Ventures LLC (the Comstock-Jericho JV) has entered a non-binding LOI with an unnamed 'premier electric power and energy infrastructure company' to serve as exclusive power provider for up to 3 GW across the J“Oklahoma AI Ventures LLC has entered into a non-binding Letter of Intent (LOI) with a premier electric power and energy infrastructure company”Company · Oct. 2026 · grade B
- Stated campus size: 2,646 MW“20 to 2,646 MW... PHASED PATHWAY - BLACK BEAR CAMPUS: 20 MW 220 MW 241 MW 355 MW 652 MW 1,670 MW 2,646 MW”Company · Sept. 2026 · grade B
- On-site generation: 2,646 MW“2.6 GW+ generation pathway”Company · Sept. 2026 · grade B
- Phases: 7-step management pathway: 20 MW (2026), 220 (2027), 241 (2028), 355 (2029), 652 (2030), 1,670 (2031), 2,646 (2032)“20 MW 220 MW 241 MW 355 MW 652 MW 1,670 MW 2,646 MW - 2026 2027 2028 2029 2030 2031 2032”Company · Sept. 2026 · grade B
- Utility: not disclosed - company claims dual-utility grid access; no utility is named in the 8-K, LLC agreement or any release“Dual-utility grid access”Company · Sept. 2026 · grade B
- On-site power technology: natural gas generation, behind-the-meter (proposed only)“Multi-pipeline + 5 days of storage at scale... SB 480: on-site power generation law (OK, 2025)”Company · Sept. 2026 · grade B
- Power plan: hybrid as proposed: behind-the-meter on-site gas generation plus 345 kV grid interconnects; nothing contracted“pairing new generation with new load to compress the interconnect, permitting, and coordination timelines”Company · Sept. 2026 · grade B
- Comstock Q2 2026: LOI signed with an unnamed premier power/energy infrastructure company to be exclusive power provider for up to 3 GW across the JV portfolio; development rights in place for ~6,000 acres“Secured LOI signed with premier electric power and energy infrastructure company to be exclusive power provider for up to 3GW of power”Company · Aug. 2026 · grade B
- Comstock balance sheet at Jun 30, 2026: total assets $92.2M, cash $25.3M, investments in real estate ventures $19.0M; Q2 included a $4.3M unrealized gain on the Jericho equity stake. The JV is a powered-land assembly veh“Total assets $ 92,183... Cash and cash equivalents $ 25,334”Company · June 2026 · grade B
- Substation kV: 345 kV“access to two independent 345 kV transmission lines, multiple natural gas supply sources - both internal and external”Company · Feb. 2026 · grade B
- Grid operator: SPP (Southwest Power Pool)“Recent regulatory updates by the grid operator, Southwest Power Pool (SPP), have accelerated the interconnection process”Company · Dec. 2025 · grade B
- Interconnection status: no executed interconnection or service agreement located; company claims 20 MW of immediately available grid capacity beginning January 2026 via a new 345 kV line, under SPP's accelerated process“delivering 20 MW of immediately available capacity beginning in January 2026”Company · Dec. 2025 · grade B
- Utility service: 20 MW“delivering 20 MW of immediately available capacity beginning in January 2026, supported by robust, scalable infrastructure”Company · Dec. 2025 · grade B
- Interconnection status: No public grid position beyond sponsor statements - Noble County, OK (SPP region): Jericho states 20 MW of grid capacity was immediately available from Jan 2026 via a new 345 kV line traversing th“a newly constructed 345 kV transmission line traversing Jericho's AI Campus site positions it for expedited grid interconnection”Company · Dec. 2025 · grade B
- JEV claims 20 MW of grid capacity available from January 2026 via a newly constructed 345 kV line traversing the site, citing SPP's accelerated generation-interconnection rules“delivering 20 MW of immediately available capacity beginning in January 2026”Company · Dec. 2025 · grade B
- Water use stated: 10 million gallons of on-site water storage; 2 million gallons via pipeline (existing energy-asset infrastructure at MDC)“Existing site assets include 70 miles of gas gathering pipelines... 10 million gallons of on-site water storage, 2 million gallons via pipeline”Company · Nov. 2025 · grade B
- MDC specs published: 70 miles of gas gathering pipelines, 10M gallons water storage + 2M via pipeline, multiple 345 kV backbone lines; partner Infracore named“Existing site assets include 70 miles of gas gathering pipelines with corresponding rights-of-way”Company · Nov. 2025 · grade B
- Announced: March 31, 2025“On March 31, 2025, JEV unveiled its innovative Modular Data center venture, harnessing its natural gas assets and infrastructure”Company · April 2025 · grade B
- JEV unveils its modular AI data center venture built on its Oklahoma natural gas assets - the origin of the Black Bear campus“On March 31, 2025, JEV unveiled its innovative Modular Data center venture”Company · March 2025 · grade B
- Stated campus size: 2,646 MW“Campus platform targets 6,000 to 10,000 acres with a stated power pathway from 20 MW to 2,646 MW, supported by 345 kV transmission”Company · Sept. 2026 · grade C
- Stated campus size: 2,646 MW“Campus platform targets 6,000 to 10,000 acres with a stated power pathway from 20 MW to 2,646 MW, supported by 345 kV transmission”Company · Sept. 2026 · grade C
- Subsurface portfolio: 18000 acres“Jericho brings to the Joint Venture a roughly 18,000-acre Oklahoma subsurface portfolio, critical operating energy infrastructure, direct access to natural gas, on-site water”Company · June 2026 · grade C
- Jericho market capitalization approx. CAD $38.7M (336,444,046 shares issued; close CAD $0.115) - a micro-cap sponsor behind a claimed 2,646 MW campus“Shares Issued 336,444,046 - Close 2026-06-09 C$ 0.115 - Market Cap C$ 38,691,065”News report · June 2026 · grade C
- Site description: MDC offers 70 miles of gas gathering pipelines, 10M gallons on-site water storage, multiple 345 kV backbone lines (sponsor); a newly constructed 345 kV line traverses the site; 20 MW available from Jan“a newly constructed 345 kV transmission line traversing Jericho's AI Campus site positions it for expedited grid interconnection”Company · Dec. 2025 · grade C
- Oklahoma SB 480 takes effect: qualifying users may develop, own and operate behind-the-meter generation without public-utility regulation - the statutory basis the sponsors cite for the Black Bear power design“Senate Bill 480 takes effect July 1 and allows qualifying businesses to develop, own and operate electric generation facilities”News report · July 2025 · grade C
Money and contracts (41)
- Tenants: none identified - no tenant named in the 8-K, the executed LLC agreement, SEDAR filings or any sponsor release through Oct 2026“The Oklahoma JV intends to monetize the assembled land portfolio through powered-land sales, build-to-suit ground leases, and/or phased joint development”SEC filing · Oct. 2026 · grade A
- Tenant status: none found“formalizes the terms of the Letter of Intent announced by Comstock and Jericho in Q1 of this year”SEC filing · Oct. 2026 · grade A
- Incentives: No project-specific incentive agreement exists. Oklahoma's computer services / data processing sales and use tax exemption (68 O.S. 1357) is available by right via an annual Oklahoma Tax Commission certificat“Oklahoma imposes no minimum investment threshold, no job creation requirement, and no facility size requirement”State agency · Sept. 2026 · grade A
- state sales/use tax exemption (by right - no project agreement): qualification exemption under 68 O.S. 1357 for computer services / data processing establishments: SIC 7372/7373 must derive at least 50% of gross revenue“These entities must derive at least 50 percent of their annual gross revenue from the sale of a product or service to an out-of-state buyer or consumer”State agency · Sept. 2026 · grade A
- state sales/use tax exemption (by right - no project agreement): administration operators must hold an exemption certificate issued by the OTC (annual certificate per the Commission's 2019 evaluation); only six certifica“The OTC can identify which entities hold active exemption certificates, but has no visibility into the scale of purchases being made under those certificates”State agency · Sept. 2026 · grade A
- Jericho files the executed LLC Agreement on SEDAR+ as a material document“LIMITED LIABILITY COMPANY AGREEMENT OF OKLAHOMA AI VENTURES LLC”Company · June 2026 · grade A
- Comstock files Form 8-K (Item 1.01) disclosing the JV terms“Item 1.01 Entry into a Material Definitive Agreement”SEC filing · June 2026 · grade A
- Definitive JV agreement signed June 4, 2026 (formalizing the LOI announced Feb 12, 2026) and announced June 10, 2026; Comstock contributes capital and leads development, Jericho contributes Oklahoma land/energy assets“today announced the formation of a joint venture with Jericho Energy Ventures”SEC filing · June 2026 · grade A
- letter of intent (non-binding): status - superseded non-binding LOI announced February 12, 2026; formalized and superseded by the definitive JV Agreement dated June 4, 2026“The Joint Venture Agreement formalizes the terms of the Letter of Intent announced on February 12, 2026 (the LOI)”SEC filing · June 2026 · grade A
- Developer: Oklahoma AI Ventures LLC“entered into the Limited Liability Company Agreement of Oklahoma AI Ventures LLC, a Delaware limited liability company”SEC filing · June 2026 · grade A
- Source record“its aggregate capital contributions are capped at $6,000,000 (inclusive of the initial $250,000 but exclusive of the $2,500,000 payment)”SEC filing · June 2026 · grade A
- Jv agreement: Limited Liability Company Agreement of Oklahoma AI Ventures LLC dated June 4, 2026, between CHCI Oklahoma Ventures LLC (Comstock) and Eagle Road Oil, LLC (Jericho affiliate); 50/50 membership“Limited Liability Company Agreement of Oklahoma AI Ventures LLC, dated June 4, 2026, between CHCI Oklahoma Ventures LLC and Eagle Road Oil, LLC”SEC filing · June 2026 · grade A
- joint venture (LLC) agreement: scope / purpose assemble, entitle and develop contiguous land in Pawnee and Noble Counties, Oklahoma for large-scale AI and data center campuses“The Joint Venture was formed to assemble, entitle and develop contiguous land in Pawnee and Noble Counties, Oklahoma for large-scale artificial intelligence and data center campuses”SEC filing · June 2026 · grade A
- joint venture (LLC) agreement: capital contribution - land member initial 10000000 USD“the Existing Property having an agreed fair market value of $10,000,000.00 (the Approved Value)... shall receive an Initial Capital Contribution credit equal to the Approved Value”Company · June 2026 · grade A
- joint venture (LLC) agreement: capital contribution - CP member initial cash 250000 USD“CP Member shall contribute cash to the Company equal to $250,000.00 (the CP Member Initial Capital Contribution)”Company · June 2026 · grade A
- joint venture (LLC) agreement: capital contribution - post-due-diligence 2500000 USD“CP Member shall contribute additional cash to the Company in an amount equal to $2,500,000.00 (the CP Member Post-Due Diligence Capital Contribution)”Company · June 2026 · grade A
- joint venture (LLC) agreement: capital cap / mandatory contributions CP Member funds 100% of Mandatory Capital Contributions (pre-development budgets and emergencies); CP mandatory + initial contributions capped at $6,00“Land Member shall not be obligated to contribute any Mandatory Capital Contributions pursuant to this Section 3.2”Company · June 2026 · grade A
- joint venture (LLC) agreement: capital - optional predevelopment up to 5000000 additional at CP Member election for pre-development expenditures (sec. 3.3(a)(iii)); excess calls are elective for both members under sec. 3“not to exceed an amount equal to Five Million and 00/100 Dollars ($5,000,000.00) in the aggregate... reasonably related to... any Pre-Development Activity”Company · June 2026 · grade A
- joint venture (LLC) agreement: distributions 8.00% preferred return on capital, then 50/50 split of remaining proceeds; no promote %“Distributions will be made pursuant to a waterfall providing for an 8.00% preferred return on capital and a 50/50 split of remaining proceeds, with no promote”SEC filing · June 2026 · grade A
- joint venture (LLC) agreement: governance - major decisions property acquisitions or sales, material budget changes, and voluntary dissolution or bankruptcy require the consent of both members (sec. 7.6)“Certain major decisions, including property acquisitions or sales, material budget changes, and voluntary dissolution or bankruptcy, require the consent of both members”SEC filing · June 2026 · grade A
- joint venture (LLC) agreement: management fee CP Pre-Development Fee of $10,000 per month to the Administrative Manager; accrues, is deemed a Mandatory Capital Contribution, and is payable only upon a sale, refinance, le“a pre-development fee in an amount equal to Ten Thousand and 00/100 Dollars ($10,000.00) per month (the CP Pre-Development Fee)”Company · June 2026 · grade A
- joint venture (LLC) agreement: termination - management fee the CP Pre-Development Fee terminates if CP Member is removed as Administrative Manager (sec. 7.10); the portion accrued before removal survives and remains pay“CP Member's right to receive the CP Pre-Development Fee shall terminate as of the effective date of such removal... shall remain entitled to receive distributions of the portion... that accrued prior to... removal”Company · June 2026 · grade A
- joint venture (LLC) agreement: term / dissolution term runs from the Delaware certificate filing (March 5, 2026) until dissolved under sec. 11.1; sec. 7.8 bars members from causing dissolution outside the agreement; volu“The term of the Company commenced on... March 5, 2026 and shall continue until dissolved and terminated pursuant to the provisions of Section 11.1”Company · June 2026 · grade A
- joint venture (LLC) agreement: transfer restrictions reciprocal rights of first offer and co-sale rights on transfers (Article X, secs. 10.2-10.3 of the agreement)“Each member also holds customary transfer rights, including reciprocal rights of first offer and co-sale”SEC filing · June 2026 · grade A
- joint venture (LLC) agreement: exit - buy/sell buy/sell right exercisable after five years or upon a deadlock (sec. 10.11)“a buy/sell right exercisable after five years or upon a deadlock”SEC filing · June 2026 · grade A
- joint venture (LLC) agreement: exit - drag-along CHCI Oklahoma holds a drag-along right exercisable above $150,000 per acre (sec. 10.4) USD/acre“CHCI Oklahoma holds a drag-along right exercisable above $150,000 per acre”SEC filing · June 2026 · grade A
- joint venture (LLC) agreement: dilution capital call shortfalls funded by one member may, if not repaid, result in dilution of the non-funding member (agreement secs. 3.4-3.7 mechanics)“Capital call shortfalls funded by one member may, if not repaid, result in dilution of the non-funding member”SEC filing · June 2026 · grade A
- contribution agreement: scope of contribution Eagle Road contributed its oil, gas and mineral leases, leasehold interests, personal property (including approx. 60 miles of gathering pipeline), rights-of-way and easements“The contributed property has an agreed value of $10,000,000”SEC filing · June 2026 · grade A
- contribution agreement: scope carve-out (retained rights) wells, wellbore interests and incidental production rights are NOT contributed; Eagle Road retains them“other than the wells, wellbore interests and incidental production rights, which it retains”SEC filing · June 2026 · grade A
- contribution agreement: area of mutual interest 15-year area of mutual interest covering each county in which the contributed leases are located years“The agreement also establishes a 15-year area of mutual interest covering each county in which the contributed leases are located”SEC filing · June 2026 · grade A
- right of first offer agreement: scope JV holds a right of first offer on certain other surface and subsurface properties of Eagle Road and affiliates outside Pawnee and Noble counties (including Seminole, Pottawatomie, B“granting the Joint Venture a right of first offer on certain other surface and subsurface properties of Eagle Road and its affiliates located outside Pawnee and Noble counties”SEC filing · June 2026 · grade A
- Definitive JV Agreement, Contribution Agreement ($10M agreed value) and ROFO agreement executed - the only executed project documents in existence for this campus“On June 4, 2026, the Joint Venture entered into a Contribution Agreement with Eagle Road, JEV OK, LLC, ROKFF, L.P. and Rising Eagle LLC”SEC filing · June 2026 · grade A
- Original target date: not stated“no COD is stated in the deck, the 8-K, the LLC agreement or any sponsor release”Company · Oct. 2026 · grade B
- Current target date: not stated“no COD is stated in the deck, the 8-K, the LLC agreement or any sponsor release”Company · Oct. 2026 · grade B
- Stated capital cost: not stated“the pro-forma unit economics and phase I, II, III, and IV and fully scaled revenue and EBITDA projections”Company · Oct. 2026 · grade B
- letter of intent - power supply (non-binding): scope / exclusivity LOI signed for the counterparty to be the exclusive power provider for up to 3 GW of power to the JV's assembled land portfolio (portfolio-wide, not Blac“Secured LOI signed with premier electric power and energy infrastructure company to be exclusive power provider for up to 3GW of power”Company · Aug. 2026 · grade B
- letter of intent - power supply (non-binding): missing clauses - finding no termination, cancellation, condition-precedent, price or term provisions of the power LOI have been disclosed in any public source; the counterp“Secured LOI signed with premier electric power and energy infrastructure company to be exclusive power provider for up to 3GW of power”Company · Aug. 2026 · grade B
- joint venture (LLC) agreement: condition / regulatory approval JEV's release states the JV was subject to TSX Venture Exchange acceptance under Policy 5.3 and that JEV relied on MI 61-101 exemptions for the related-party“the filing with the TSX Venture Exchange under Policy 5.3, and the Exchange's acceptance of the Joint Venture”Company · June 2026 · grade B
- fiber services partnership: scope AT&T to install a minimum of 10 Gbps of fiber at JEV's initial modular AI data center site in Oklahoma, designed to scale beyond 100 Gbps; underlying contract not public Gbps“partnered with AT&T to install a minimum of 10Gbps of fiber optic at its initial Modular High Performance AI Data Center site in Oklahoma”Company · April 2025 · grade B
- private placement (equity investment): amount and terms $1,500,000 invested in Jericho in February 2026 (8-K). Placement terms per DCD: 25,684,932 units at CAD$0.08 (~7% of JEV); each unit one share plus one-half warrant“The financing will consist of 25,684,932 units priced at CAD$0.08 (US$0.059) per unit. Each unit includes one variable voting share and one-half of a warrant”News report · June 2026 · grade C
- JEV-Comstock non-binding LOI announced; Comstock invests $1.5M in JEV via private placement (~7%); Clemente to join JEV's board“As part of the agreement, Comstock will invest $1.5 million in Jericho through a non-brokered private placement”News report · Feb. 2026 · grade C
Permits and government (7)
- Construction stage: not stated“planning has commenced for what would become one of the largest data center campuses in Oklahoma”SEC filing · Oct. 2026 · grade A
- air construction/operating permit: no application found“The DEQ permitting requirements are the same for all natural gas turbines, including behind-the-meter. The appropriate construction and operating permits must be obtained”State agency · Oct. 2026 · grade B
- water rights / water use: no permit found“The authority to regulate the quantity of water a data center consumes is regulated by the Oklahoma Water Resources Board”State agency · Oct. 2026 · grade B
- county land-use approval: no application or agenda item found“AGENDA FOR THE BOARD OF COUNTY COMMISSIONERS OF NOBLE COUNTY, OKLAHOMA... Regular meeting on July 20, 2026”Local government · Oct. 2026 · grade B
- Oklahoma HB 2992 (Data Center Consumer Ratepayer Protection Act of 2026) takes effect; OCC large-load proceedings run in parallel (PSO Case PUD 2025-000075; OG&E large-load tariff filed June 2026, hearing expected Nov 20“The Agreement asks the Commission to approve a new large load service applicable to loads above 75 MW”Utility regulator · July 2026 · grade B
- FERC approves SPP's High Impact Large Load (HILL) proposal: 90-day study-and-approval for large loads paired with new generation - the process behind the sponsors' ~90-day interconnect claim“SPP will establish a 90-day study-and-approval process for interconnecting large loads that will be paired with new generation”Utility regulator · Jan. 2026 · grade B
- Time to service (months): not stated“no tenant, permit, equipment or construction commitment exists for Phase 1 in any source”Company · Oct. 2026 · grade C
Legal (1)
- Lawsuits: none found - no litigation naming Oklahoma AI Ventures, Jericho (data-center related), Eagle Road or Rising Eagle located“no case naming the JV entities surfaced in web-indexed court/news searches”Local government · Oct. 2026 · grade C
Site and other (23)
- County: Noble County, Oklahoma (flagship campus); JV land portfolio also spans Pawnee County“to facilitate and support the development of large-scale data center campuses in Oklahoma's Pawnee and Noble counties”SEC filing · June 2026 · grade A
- Acres: 4000 acres“To date, development options covering upwards of 4,000 acres have already been secured”SEC filing · June 2026 · grade A
- Jv purpose and location: The JV exists to develop large-scale data center campuses in Oklahoma's Pawnee and Noble counties; its initial focus is Jericho's Black Bear campus (the words 'Black Bear' appear in the partners'“to facilitate and support the development of large-scale data center campuses in Oklahoma's Pawnee and Noble counties”SEC filing · June 2026 · grade A
- Land options secured: Development options covering upwards of 4,000 acres already secured, integrating Jericho's subsurface energy infrastructure with surface land; Jericho brings a roughly 18,000-acre Oklahoma subsurfac“To date, development options covering upwards of 4,000 acres have already been secured”SEC filing · June 2026 · grade A
- Operator: Oklahoma AI Ventures LLC; day-to-day management by CHCI Oklahoma Ventures LLC as administrative member“CHCI Oklahoma serves as the administrative member and is responsible for day-to-day management”SEC filing · June 2026 · grade A
- Owner companies: CHCI Oklahoma Ventures LLC (50%); Rising Eagle LLC (50%, Land Member)“the Company will admit Rising Eagle as a Member of the Company holding fifty (50) Units”Company · June 2026 · grade A
- the OK regi“The Certificate was filed with the Secretary of State of the State of Delaware on March 5, 2026”SEC filing · March 2026 · grade A
- Oklahoma AI Ventures LLC certificate filed with the Delaware Secretary of State (registered agent CT Corporation)“The Certificate was filed with the Secretary of State of the State of Delaware on March 5, 2026”Company · March 2026 · grade A
- County code: 40103“County, Noble County... FIPS Code, 40-103”Dataset · Oct. 2026 · grade B
- Name: Jericho Black Bear Campus“FLAGSHIP CAMPUS, BLACK BEAR - NORTH CENTRAL OKLAHOMA”Company · Sept. 2026 · grade B
- Acres: 6000 acres“6,000 to 10,000-acre platform (~6,000 acres under option)”Company · Sept. 2026 · grade B
- Cooling: closed-loop chilled water (proposed)“Closed-loop chilled water; best-in-class WUE”Company · Sept. 2026 · grade B
- Acres: 6000 acres“Development rights in place for ~6k acres of ~18k acre subsurface portfolio controlled by Oklahoma JV”Company · June 2026 · grade B
- Aliases: Black Bear AI Data Center Campus; Morrison Data Center Site (MDC)“the intended development of large-scale AI data center campuses... including within Jericho's flagship Black Bear AI Data Center Campus”Company · June 2026 · grade B
- JEV mutually terminates the SmartKem business-combination LOI (no penalties) to focus on the Noble County campus“mutually agreed with SmartKem, Inc. to terminate the previously announced non-binding letter of intent... There were no penalties or disputes”Company · Feb. 2026 · grade B
- Fiber connectivity: AT&T partnership (Apr 2025): minimum 10 Gbps fiber at the initial modular site, designed to scale beyond 100 Gbps; deck claims 488-strand carrier-diverse fiber within ~1 mile“partnered with AT&T to install a minimum of 10Gbps of fiber optic at its initial Modular High Performance AI Data Center site in Oklahoma”Company · April 2025 · grade B
- AT&T fiber partnership: minimum 10 Gbps at the initial modular site, designed to scale beyond 100 Gbps“partnered with AT&T to install a minimum of 10Gbps of fiber optic”Company · April 2025 · grade B
- Opposition: none found - no opposition group, petition, moratorium or local campaign against the Black Bear / Morrison campus located in news and web searches through Oct 2026“Noble County BOCC agendas published by the county (e.g., July 20, 2026) contain no data center item”Local government · Oct. 2026 · grade C
- Comstock formally launches its Data Center Platform (DCP); the Oklahoma JV is one of two ventures (the other is Mid-Atlantic). Date approximate (trade coverage mid-Oct 2026)“US real estate company Comstock is entering the data center space and partnering on two projects”News report · Oct. 2026 · grade C
- Operator entity: Oklahoma AI Ventures LLC“The formation of Oklahoma AI Ventures LLC (the "Oklahoma JV" or the "Joint Venture") formalizes the terms of the Letter of Intent”Company · June 2026 · grade C
- Site counties: Pawnee and Noble counties, Oklahoma“to facilitate and support the development of large-scale data center campuses in Oklahoma's Pawnee and Noble counties”Company · June 2026 · grade C
- Address: not disclosed; site identified only as the Morrison Data Center Site, Noble County (near Morrison, OK)“The company also announced the site location for its inaugural AI Data Center in Noble County, Oklahoma. The Morrison Data Center Site”News report · Sept. 2025 · grade C
- JEV names its inaugural site: the Morrison Data Center Site, Noble County, Oklahoma“The company also announced the site location for its inaugural AI Data Center in Noble County, Oklahoma. The Morrison Data Center Site”News report · Sept. 2025 · grade C