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PA Re-Adds One Rig to 13; National Rig Count Even 2nd Week @ 585
Two weeks ago, Pennsylvania lost another rig, going from 13 rigs down to 12 rigs, the lowest that state has operated in the last 17 years (see PA Drops Another Rig to 17-Year Low; National Rig Count Even @ 585). Last week, PA picked up one rig, so the tally is back to 13. It’s still not great, but we suppose it’s progress. A little over two months ago (as of August 23), PA operated 21 rigs. We went through a period of rapid rig loss in the Keystone State. Last week, Ohio and West Virginia maintained their respective counts of 10 active rigs each. Read More “PA Re-Adds One Rig to 13; National Rig Count Even 2nd Week @ 585”
In September, the Board of Supervisors for Cecil Township in Washington County, PA, caved to pressure from radical leftists and, by a vote of 3-2, instructed the town’s solicitor to prepare a new zoning ordinance that increases setbacks from “protected structures” from 500 feet to 2,500 feet (half a mile), and add a setback of 5,000 feet from schools and hospitals (almost a full mile, see 
Coterra Energy, formed by the merger of Cabot Oil & Gas (drills for natural gas in the Marcellus) and Cimarex Energy (drills for oil in the Permian and Anadarko basins), issued its third quarter 2024 update last week. The company turned in respectable financial numbers, making a profit of $252 million in 3Q24, down 22% from the $323 million it made in 3Q23. Unfortunately, there was bad news for the Marcellus. The company is boosting the amount of gas it curtails from the Marcellus to 340,000 MMcf/d gross (288,000 MMcf/d net) during November. Both new drilling and new completions (fracking) in the Marcellus are zero for now. Sadly, the company is operating NO rigs in Marcellus right now. 
DT Midstream (DTM), headquartered in Detroit, owns major assets in the Marcellus/Utica region and other regions like the Haynesville. DTM issued its third quarter 2024 update last week. Of high interest to us was the announcement that DTM is upsizing a previously announced project to connect its Stonewall Gathering System to Equitrans Midstream’s (now EQT) Mountain Valley Pipeline in West Virginia, giving DTM customers the ability to reach Mid-Atlantic markets with their molecules. 
The Ohio Natural Energy Institute (which 
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