New Permits to Drill in M-U, Other Gas Plays, Saw Big Drop in April

May 19, 2023May 25, 2023

According to analysts at Evercore ISI, natural gas (and oil) permits to drill new shale wells dropped dramatically in April from previous months in both the Marcellus/Utica and other shale plays. Evercore tracks new drilling permits and says Marcellus permits fell by 25%. The M-U's main competitor, the Haynesville, saw an even bigger 40% drop. We did a bit of analysis ourselves, and while new permits did drop quite a bit in April, that doesn't tell the whole story.

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