MDN’s Energy Stories of Interest: Wed, Oct 8, 2025 [FREE ACCESS]

MARCELLUS/UTICA REGION: Steptoe & Johnson relocates Southpointe office; OTHER U.S. REGIONS: Maryland Supreme Court challenges basis for climate lawsuits; NATIONAL: U.S. natural gas price posts back-to-back gains; U.S. propane inventories are well stocked heading into the winter heating season; NGOs “recycle” their anti-industry playbook for plastics; U.S. feedgas demand remains strong; INTERNATIONAL: WTI extends streak amid modest OPEC+ hike; At what point will OPEC+ cut?

MARCELLUS/UTICA REGION

Steptoe & Johnson relocates Southpointe office
Pittsburgh (PA) Business Times/Patty Tascarella
Steptoe & Johnson PLLC has relocated its Southpointe office in Canonsburg to 1500 Main Street, Suite 310, after 15 years at 11 Grandview Circle. The firm signed a seven-year lease for 8,168 square feet, bringing the office closer to the area’s central business district. Established in 2010 to serve Marcellus Shale clients, the Southpointe office now provides a range of legal services and employs 21 professionals. Interim office leader Edward Miller said the move modernizes the space and enhances client service. Steptoe & Johnson, founded in 1913, operates 18 offices in seven states with over 400 legal professionals. [MDN: A great law firm that does a lot of important work in the M-U sector.]

OTHER U.S. REGIONS

Maryland Supreme Court challenges basis for climate lawsuits
Energy in Depth – Climate & Environment/Mandi Risko
The Maryland Supreme Court expressed strong doubts about reviving three climate lawsuits filed by Baltimore, Annapolis, and Anne Arundel County, which seek damages from major energy companies for alleged climate harms tied to greenhouse gas emissions outside Maryland. During oral arguments, justices challenged how plaintiffs’ theory and relief depend on interstate or international emissions, questioned the lack of concrete examples of misconduct or local impact, and pressed whether state courts even have the authority to entertain such global claims. [MDN: Yet another climate lawsuit that is in the process of crashing and burning. Brought by the law firm of Sher Edling, the firm behind most (if not all) of these lawsuits. Who’s paying Sher Edling? Inquiring minds want to know.]

NATIONAL

U.S. natural gas price posts back-to-back gains
Wall Street Journal
U.S. natural gas futures rose for a second straight session with support from lower production, buoyant LNG feedgas flows, and some weather-driven demand seen for later in the month. This week’s inventory report is expected to show another below-average storage build, although the surplus is expected to increase again after that. The EIA in its monthly outlook expects storage to end the injection season at 3,980 Bcf, or 5% above the five-year average. “These higher-than-expected stocks at the start of winter support more natural gas in storage throughout winter 2025-26, assuming near-normal temperatures,” the EIA says. It predicts inventories will end March at 1,990 Bcf, or 8% above the five-year average. Nymex natural gas settled up 4.2% at $3.498/mmBtu. [MDN: Yeah, baby! We like the way the price is inching up, yesterday hitting $3.50 (rounded). Let’s keep it heading in that direction.]

U.S. propane inventories are well stocked heading into the winter heating season
U.S. Energy Information Administration – Today in Energy
U.S. propane inventories are well above average heading into winter, reaching 103 million barrels as of September 26—about 13 million barrels higher than the five-year norm. Supply growth, driven by a 5% rise in gas plant production, has outpaced export demand, especially in the Gulf Coast, which holds 70% of storage and is 21% above average. Midwest inventories, crucial for heating and grain drying, are 4% above average at 27 million barrels. Strong stock levels have pushed Gulf Coast spot prices down to $0.70 per gallon. High inventories should help limit winter price volatility despite potential weather or geopolitical disruptions. [MDN: The article focuses on the Gulf Coast and Midwest regions. No mention of propane stocks in the M-U region, even though we produce a fair bit here from our shale wells.]

NGOs “recycle” their anti-industry playbook for plastics
Energy in Depth – Climate & Environment/Kyle Kohli
The article argues that NGOs that once aggressively targeted oil and gas firms are now recycling the same litigation-based tactics against the plastics industry. It points out that these NGOs, backed by the same funders and deploying similar arguments, are threatening courts and lawsuits to curb plastics manufacturing. Plastics are a vital industrial sector that underpins healthcare, packaging, automotive, and other industries. Instead of collaborating on “advanced recycling” or circularity, activists prefer courtroom tactics, ignoring economic and technical realities. [MDN: Is it not blindingly obvious that the radical left, not only in this country but around the world, is anti-capitalist and anti-freedom? That’s what this is about. It’s NOT about the climate or the environment. It’s about totalitarian control over your life. RESIST!]

U.S. feedgas demand remains strong
RBN Energy/Lisa Shidler
U.S. LNG feedgas demand rose to an average of 15.7 Bcf/d last week, up 0.2 Bcf/d from the prior week, driven by higher intake at Sabine Pass, Corpus Christi, and the commissioning Plaquemines LNG terminal. Plaquemines averaged 3.3 Bcf/d, nearing 3.5 Bcf/d over the weekend, as it gained FERC approval for additional equipment. Blocks 1–16 and 18 are now producing LNG, while Block 17 was recently approved for nitrogen testing. Although nearing full operation, commercial service is not expected until mid-2026 for Phase 1 and 2027 for Phase 2, following Venture Global’s request to extend commissioning through 2027. [MDN: Happy to see feedgas near record highs, even with Cove Point offline for maintenance. Sad to see Plaquemines near full tilt yet maintaining the fiction that it’s not commercially ready (as it ships cargo after cargo to non-contracted buyers). Shame on Venture Global.]

INTERNATIONAL

WTI extends streak amid modest OPEC+ hike
Bloomberg/Mia Gindis, Veena Ali-Khan
Oil prices fluctuated as traders assessed OPEC+ supply decisions and Saudi Arabia’s cautious stance. West Texas Intermediate rose 0.1% to $61.73 a barrel, marking a third straight gain, while Brent slipped slightly to $65.45. OPEC+ agreed to a modest 137,000-barrel-per-day increase for November, and Saudi Arabia held its Asian prices steady, surprising markets. Despite recent losses amid concerns about surplus, output continues to rise as producers seek market share. Russia’s exports remain strong despite Ukrainian drone attacks, and the EU considers new sanctions. Meanwhile, Shell and Exxon reported stronger third-quarter trading and refining results, respectively, after earlier volatility. [MDN: Not much else to say other than still in the $60s.]

At what point will OPEC+ cut?
Rigzone/Andreas Exarheas
SEB Chief Commodities Analyst Bjarne Schieldrop said OPEC+ will likely cut production if Brent crude falls into the $50-per-barrel range, as rising inventories and weaker prices prompt intervention to stabilize the market. He noted that OPEC+ aims to balance regaining market share with maintaining price stability, dismissing fears of a major oversupply. On October 5, eight OPEC+ nations, including Saudi Arabia and Russia, agreed to a 137,000-barrel-per-day production adjustment starting in November. Schieldrop warned that despite this move, oil markets remain on a weakening path, with Brent potentially entering full contango and prices slipping into the $50s per barrel. [MDN: We keep seeing these warnings of oil in the $50s, and we keep seeing it not happening. We suppose it’s possible, but so far, these dire predictions are not coming true.]