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M-U Rigs Steady @ 35; National Rig Count Drops One Rig @ 583
The rig count in the Marcellus/Utica appears to have stabilized, and that’s a good thing. For a while, it was in freefall, at least in Pennsylvania. In October, Pennsylvania’s rig count dropped to just 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). Since then, PA has recovered a few rigs, clawing and scratching every inch of the way. Last week, the PA count stood at 15, the same as the prior week. Ohio and West Virginia held steady, with ten active rigs each. The M-U had a combined 35 rigs operating for the second week in a row, the most since August. Read More “M-U Rigs Steady @ 35; National Rig Count Drops One Rig @ 583”
Just about one month ago, Reuters reported that sources “familiar with the matter” whispered to its reporters that private equity firm Blackstone is “in advanced talks” to acquire minority stakes in the interstate natural gas pipelines now owned by EQT Corp. (following its purchase of Equitrans Midstream) for a whopping $3.5 billion (see 
On May 30, 2023, a fire and subsequent explosion damaged an above-ground storage tank and the upper process building at the already-closed Fairmont Brine Processing plant in Fairmont, WV (see 
The highly functional and responsible Susquehanna River Basin Commission (SRBC), unlike its completely dysfunctional and irresponsible cousin, the Delaware River Basin Commission (DRBC), continues to support the shale energy industry by approving water withdrawals for responsible and safe shale drilling. The Pennsylvania Bulletin from this past Saturday (Nov. 23) carried an official notice from the SRBC that the agency’s Executive Director gave his approval to one new and 41 renewed general water use permits in October for individual shale gas wells in Bradford, Centre, Clearfield, Clinton, Lycoming, Susquehanna, Tioga and Wyoming counties. 
On Friday, we told you that a bankruptcy judge had tossed out a lawsuit brought by Freeport LNG against the companies that built the facility, claiming it was their shoddy work that has led to a steady string of problems and outages (see 
We still continue to say “pinch us!” that Donald Trump won the election. And what about the picks he’s made for his cabinet and other key positions…Wow! Now comes word from leakers that “within days” of his inauguration, the Trump team will roll out approvals for LNG export requests that have been stalled for a year under Joementia. Word also leaked that Trump plans to approve new on-shore and off-shore drilling on federal lands. It’s such a breath of fresh air! (Pun intended.) 
NATIONAL: Natural gas prices were on fire last week – this is why; Don’t defund the International Energy Agency; Fall natural gas storage peaked at 8-year high; What Trump’s Treasury pick means for clean energy tax credits; INTERNATIONAL: Climate talks end with a bitter fight and a deal on money.