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28 New Shale Well Permits Issued for PA-OH-WV Nov 18 – 24
For the week of Nov 18 – 24, permits issued in the Marcellus/Utica continued to be strong, with 28 new permits issued, down just two from the 30 issued the prior week. The Keystone State (PA) issued 11 new permits, with five going to CNX Resources, all in Allegheny County. Two permits were issued to Southwestern Energy (now Expand Energy) in Lycoming County. The remaining four were single permits issued to EQT Corporation (Greene County), Infinity Natural Resources (Indiana County), Range Resources (Washington County), and Apex Energy (Westmoreland County). Read More “28 New Shale Well Permits Issued for PA-OH-WV Nov 18 – 24”
The Baker Hughes national rig count dropped another rig last week and now sits at 582. The national count continues to be rangebound between 581 and 589 since June. Slicing the national count slightly differently—by oil-focused vs. gas-focused rigs—oil rigs fell by two to 477 last week, their lowest since July, while gas rigs rose by one to 100. Last week, all three Marcellus/Utica states maintained the same count for the third week in a row, with PA operating 15 active rigs and Ohio and West Virginia operating 10 rigs each, for a combined 35 rigs. That’s the third week in a row the M-U has operated 35 rigs. It feels like the doom and gloom is finally starting to lift. 
In early October, Infinity Natural Resources (INR), with 90,000 acres in the Marcellus/Utica, filed an IPO with the Securities and Exchange Commission (SEC), hoping to raise $100 million (see 
As we’ve stated many times, we’re not fans of so-called “net zero.” Net zero emissions refer to balancing the amount of greenhouse gases (GHG) emitted into the atmosphere with an equivalent amount of GHG removed, resulting in no net increase in atmospheric GHG concentrations. Scope 1 and 2 emissions are part of the broader framework defined by the Greenhouse Gas Protocol, which divides emissions into three categories (Scopes 1, 2, and 3) based on their source. We told you in October that EQT Corporation had achieved net zero for Scopes 1 and 2 about a year earlier than expected (see 
The volume of natural gas flowing to U.S. LNG export facilities on Friday was on track to hit 14.6 billion cubic feet (Bcf), just shy of the all-time high of 14.7 Bcf recorded one year ago, in December 2023. The reason for the near-record high is that all LNG export facilities, including the up down up down up down Freeport LNG facility, were firing on all cylinders. Two weeks ago, one of Freeport’s three trains tripped off (see 
It’s funny how Big Tech companies like Microsoft, Google, Apple, Amazon, and others—all of them virtue-signalers—are willing to dump their virtue signaling (dump their insistence on using “green” energy) when it begins to affect the bottom line. We’re seeing it now with AI (artificial intelligence) and data centers. Big Tech needs power to run AI, and it needs it NOW (over the next several years). Big Tech is coming to the realization that hillsides full of ugly solar panels and windmills are not the solution but the problem. Solar and wind energy are intermittent (i.e., unreliable), and the existing power grid is about at maximum right now. So what is Big Tech now doing after trashing fossil energy for most of the last decade? Big Tech is looking at gas-fired power plants once again as the solution to meet their power needs. Welcome back to sanity and reality, Big Tech. 
You’ve heard of the Holy Trinity, right? Father, Son, and Holy Spirit. The three largest LNG exporting countries in the world, the U.S. (#1), Australia (#2), and Qatar (#3), are referred to as the LNG Trinity. Together, all three countries represent roughly 60% of all LNG exported on the planet. However, each country has its own strategy, politics, and approach to the market. How are they similar, and how are they different? 
NATIONAL: BlackRock, Vanguard, State Street sued by Republican states over climate push; Texas oil town Odessa now among USA cities with highest wages; Next 4 years could prime LNG for golden era; Speculation surrounding potential USA oil output surge gains attention; US DOE enlists AI to speed up approval process for interconnection projects; U.S. crude oil production established a new record in August 2024; ‘Landman’ airs a rare and stirring defense of the US oil-and-gas industry; INTERNATIONAL: New Zealand risks industrial closures amid gas shortfall; Britain is about to miss out on an energy revolution; Greenpeace activists protest U.S. LNG tanker arriving in Germany; The West pays so China can pollute.