EIA June STEO Raises Projected Gas Spot Price for 2026, 2027
The U.S. Energy Information Administration (EIA) issued its latest monthly Short-Term Energy Outlook (STEO) on Tuesday. Using the official EIA dartboard, the STEO is the agency’s monthly best estimate of where energy prices and production will go over the next 12 months. There was a revision to the agency’s prediction about the spot price (at the Henry Hub) for natural gas in 2026 and 2027. Last month, the EIA predicted 2026 would end up with an average HH price of $3.50/MMBtu and 2027 would see an average of $3.18/MMBtu. On Tuesday, the EIA revised both numbers up. The agency sees an average price of $3.60 this year, up a dime from last month, and $3.46 in 2027, up a robust 28 cents. Read More “EIA June STEO Raises Projected Gas Spot Price for 2026, 2027”
Yesterday, Pennsylvania Department of Environmental Protection (DEP) Secretary Jessica Shirley visited the site of an orphaned well being plugged in Allegheny County, PA, to celebrate the plugging of the 400th orphaned well since Josh Shapiro assumed the governorship in January 2023. There’s nothing wrong with Shapiro’s bragging and chest-puffing, except that Ohio plugged 480 orphaned wells last year. Since January 2023, Ohio has plugged 1,214 orphaned wells, compared to PA’s 400 wells (3X more). Which makes us ask: Why does it take so much longer and cost so much more to plug wells in PA than in OH? 
There’s plenty of cheap, abundant, clean natural gas available in the Marcellus/Utica region. One of the biggest challenges (for drillers and landowners) has been moving those molecules to markets that need them, like New York State and New England. Every single inch of a pipeline project in the northeast is fought over, with radicalized environmentalists using lawfare as their favorite tactic to oppose projects. Their resistance is based on the false belief that fossil fuels like natural gas are somehow evil. But even though the enviro-left has done its best, there are several pipeline projects in the works that will flow molecules from the M-U into and through New York and into New England. 
Big Green groups rallied Tuesday in Peekskill (Westchester County, NY) against Enbridge’s proposed Project Beacon, a natural gas pipeline expansion that would increase capacity on the Algonquin Gas Transmission line. Radicals lied by saying the project would “burden ratepayers” already facing high living costs. How do you figure? Algonquin is a transmission pipeline, and its expansion will be paid for by Enbridge (and its shareholders), not by increasing local utility rates. Yet these liars are never called out for their false statements by the media. 
Sempra Infrastructure announced that its Port Arthur Pipeline Louisiana Connector has entered service, marking progress on U.S. energy infrastructure aimed at supplying global natural gas markets. CEO Justin Bird said the project was completed ahead of schedule and under budget. The pipeline will transport up to 2 billion cubic feet per day (Bcf/d) of U.S. natural gas, including Marcellus/Utica gas, to Port Arthur LNG Phase 1, which is now under construction with a nameplate capacity of about 13 million tonnes per annum (MTPA). The project links with the Gillis Hub Pipeline and the LA Storage facility under construction. It includes 72 miles of 42-inch pipeline and a compressor station. 
In February 2025, the Federal Energy Regulatory Commission (FERC) approved a plan by PJM Interconnection, the country’s largest electric grid (which covers all or parts of 13 states, including PA, OH, and WV), to fast-track the addition of new gas-fired power plants (see 
MARCELLUS/UTICA REGION: GOP candidate Garrity breaks with Shapiro as she calls for pause in data center development; OTHER U.S. REGIONS: Virginia, RGGI, and the myth of lower energy costs; Voters reject Steyer and the Rockefeller “Keep it in the Ground” agenda; NATIONAL: U.S. natural gas futures rise with storage data in view; Opposition to data centers must give way to the realities of the new world; INTERNATIONAL: Oil climbs as Trump warns Iran; War erases 1B barrels of cumulative oil supply from market; Ahead of ban, EU is importing more Russian LNG than last year. 
Yesterday, Devon Energy issued its first updated outlook for 2026 after completing its Coterra Energy merger. Devon forecasts 2026 production of about 1.38 million boe/d, including roughly 500,000 bpd of oil, on $4.9 billion in capital spending. Over 60% of the money Devon will spend this year will go to the Permian Basin, where Devon is concentrating growth. The company plans to operate 31 rigs and 10 completion crews and to drill 460–480 net wells across all shale plays in which it operates. What stood out to us in reviewing planned expenditures is that Devon plans to spend the least amount of capital on drilling in the Marcellus. 
Yesterday, President Trump accused New York Governor Kathy Hochul of reneging on her pledge to allow the 125-mile Constitution Pipeline project to be built in the Empire State. The project was canceled in 2020 after New York repeatedly rejected the necessary permits. President Trump brokered a deal with New York Governor Kathy Hochul to resurrect the project last year (see 
On April 29, 2026, Pennsylvania’s Department of Environmental Protection (DEP) issued six violations to CNX Resources for causing water supply problems affecting two Bell Township residences in Westmoreland County. The violations targeted three CNX facilities with 19 shale gas wells drilled between 2022 and 2026. DEP determined that CNX operations diminished water supplies after two homeowners filed complaints in December 2025 about loss of well water. CNX was ordered to provide temporary water within 24 hours and submit restoration plans within 15-45 days. CNX, which *did* offer temporary water back in December, is disputing the DEP’s findings, denying responsibility and claiming insufficient evidence of hydrogeologic pathways linking their operations to water impacts. 
Pennsylvania imposes an annual “impact fee” (the state’s version of a severance tax) on unconventional (i.e., shale) natural gas wells that were drilled or operating in the previous calendar year. The state Independent Fiscal Office (IFO) provides updates to predict how much will be collected from the fee. The IFO released its mid-year report yesterday, which typically focuses on a forecast for the current fiscal year (FY 2026). But this update is different. It spends most of its verbiage on firming up and confirming the final numbers for 2025, which will be distributed in July of 2026. Near the end, the IFOers do break out the crystal ball and venture a guess on revenues for 2026 that will be paid out next July. 
One year ago, in June 2025, MDN brought you news about a commercial lithium production facility already built and being tested in Susquehanna County, PA (see 
On June 8, 2026, a Pennsylvania Department of Environmental Protection (DEP) inspector visited Frontier Natural Resources’ Winner 1, Winner 2, Winner 4H and Winner 6 shale gas well pads, along with four multimillion-gallon water impoundments in East and West Keating Townships, Clinton County. The inspector found that Frontier had not restored the pads and impoundments within 9 months of drilling ending. But here’s the thing: the original violations were lodged by the DEP on July 14, 2017. That’s almost nine years ago! In other words, the DEP didn’t bother to re-inspect the pads/sites for nine years. 
The troubles continue to pile up for Eureka Resources and its now-closed frack wastewater treatment facilities in Pennsylvania — two in Lycoming County and one in Bradford County. In March, the PA Department of Environmental Protection (DEP) assessed two fines against Eureka for violations of cleanup deadlines at two facilities, totaling $100,000 (see 