New Fortress Energy Exits Restructuring; What Now for Wyalusing?
Back in March, MDN told you that New Fortress Energy (NFE) had entered a voluntary UK Restructuring Plan — the British cousin of a U.S. prepackaged bankruptcy (see New Fortress Energy Enters UK Equivalent of Prepackaged Bankruptcy). Six months later, it’s done. NFE announced last Friday that the restructuring is complete, the Brazilian business has been cut loose, and roughly $5.7 billion of debt has been wiped off the books. The company that walks out the other side is a much smaller animal than the one that walked in. And here’s the part that ought to interest Marcellus watchers: when CEO Wes Edens listed off what “New NFE” actually owns now, Pennsylvania didn’t make the list. Read More “New Fortress Energy Exits Restructuring; What Now for Wyalusing?”
Pittsburgh-based Alcoa says it’s “very close” to selling its shuttered Massena East aluminum smelter in New York’s North Country to a data center developer. Here’s the part that other reporting left out: the buyer has been sitting on that site since 2017, wants to build a 635-megawatt (MW) computing campus there — and Gov. Kathy Hochul froze the whole thing two months ago with her data center moratorium (see 
National Fuel Gas Company (NYSE: NFG) released its 2025 Corporate Responsibility Report last Wednesday, and the most newsworthy part never made the press release. Buried on page 22 — and repeated on page 25 — is NFG’s announcement that it has discontinued its consolidated absolute greenhouse gas emissions reduction target. The company is keeping its segment-level methane intensity targets and will keep publishing absolute emissions numbers. But the corporate-wide “cut total tons” pledge is gone. 
The streak is over. After three straight reports at 588, the national rig count finally moved, adding three to reach 591. Oil rigs went up. Gas rigs went up. And here at home? Nothing. The Marcellus/Utica sat at 33 for a second consecutive week, which is what “unchanged” looks like when you’re already at your lowest number in two years. Meanwhile WTI crossed $100 a barrel and our gas slid to $2.83. Read those two numbers together and you’ve got the whole week. 
Energy Transfer, one of the biggest midstream players in the country and a familiar name to Marcellus/Utica landowners thanks to the Revolution and Mariner East systems, announced last week that it is pulling its primary stock listing off the New York Stock Exchange and moving it to the brand-new Texas Stock Exchange (TXSE) in Dallas. Three affiliated companies are going with it. Together the four represent close to $100 billion in market value — the largest chunk of listing business the NYSE has ever lost to a startup rival. Before you declare the end of Wall Street, though, there’s an asterisk the size of Texas attached to this one. 
OTHER U.S. REGIONS: Venture Global and China gas announce new long-term LNG agreement; Baker Hughes and Venture Global advance next phase of U.S. gas infrastructure growth; NATIONAL: U.S. natural gas futures end week with losses; USA diesel hits $6 per gallon for first time ever; ExxonMobil executive sees US accounting for 30% of global LNG market by 2030; INTERNATIONAL: Oil posts biggest weekly gain since July; What if the assumptions embedded in the oil curve are wrong?; Ireland ‘seriously considering’ importing fracked US gas for LNG reserve in Clare. 
The Marcellus/Utica region received 28 new drilling permits last week, August 31 – September 6, down from the 39 permits issued two weeks ago. Pennsylvania issued 11 of the new permits. Ohio issued 12 new permits. And West Virginia issued 5 new permits. The drillers who received new permits last week were: EOG Resources, Expand Energy, Greylock Energy, Northeast Natural Energy, and Range Resources. 
Eastern Gas Transmission and Storage (EGTS), a wholly owned subsidiary of Berkshire Hathaway Energy (Warren Buffett’s company), got the last piece of paper it needed yesterday for an important new pipeline project. FERC’s Office of Energy Projects issued a notice to proceed (NTP) on Sept. 10, authorizing EGTS to start building the Appalachian Reliability Project (ARP) — the 550,000 dekatherms/day expansion that will push more Marcellus and Utica gas from western Pennsylvania into Ohio. Even better, the approval comes in roughly six months ahead of the company’s own published timeline. 
Duke Energy just handed Marcellus/Utica producers something more useful than another press release. It handed us a calendar. Back in July we told you Duke had picked its sites: two 1,360-megawatt (MW) combined-cycle gas plants on its Davie County, North Carolina parcel, and the largest liquefied natural gas (LNG) storage facility in company history directly across the Yadkin River in Davidson County (see 
Round and round she goes. Yesterday Shell Energy North America (SENA) announced it is doing two deals at once: selling the 609-megawatt (MW) Rhode Island State Energy Center (RISEC) near Providence to Constellation Energy for $715 million, and buying the 169-MW Hunlock Creek Energy Center in Luzerne County, Pennsylvania, from Castleton Commodities International (CCI). Shell has owned the Rhode Island plant for all of about 20 months. CCI has owned Hunlock Creek for two years. Both deals are expected to close in the first quarter of 2027, pending the usual regulatory blessings. 
A month ago, we took a press release that pointedly refused to name a county, did some division on a tax-assessment number buried in the fine print, and concluded that Alpha Compute Corp.’s (Nasdaq: ALP) proposed 200-megawatt gas-fired AI data center was headed for Tioga County (see 
The U.S. Energy Information Administration (EIA) dropped its September Short-Term Energy Outlook (STEO) yesterday, and for once the natural gas headline numbers barely budged. Henry Hub is forecast at $3.43/MMBtu for 2026 and $3.28/MMBtu for 2027 — a penny and three cents below last month. After August’s 23-cent haircut, that’s practically a rounding error. The interesting stuff this month isn’t in the price line. It’s in the regional production tables, where EIA lays out exactly who is growing and who isn’t. Spoiler: it’s the same story as last month, only now EIA has put hard numbers on it. 
Accounting giant Ernst & Young dropped its annual reserves benchmarking study yesterday, and while the press release leads with oil, the real story for our part of the country is buried in the tables: EQT is now the largest holder of proved natural gas reserves in the United States, and Appalachian-focused producers control roughly a third of all the gas reserves booked by America’s 30 biggest publicly traded drillers.