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PA Drops 1 Rig, M-U @ 34; National Rigs Keep Gains, Even @ 589
The Baker Hughes national rig count dramatically increased two weeks ago, adding seven rigs for a national count of 589 (see OH Drops 1, PA Adds 1 Rig; National Rig Count Soars, Adds 7 @ 589). Last week, the national count didn’t change, and we are holding on to the gains made the previous week (still at 589). Note that the national count continues to be rangebound between 581 and 589 since June (except for Sep. 13, when it hit 590 for a single week). Two weeks ago, the Ohio Utica lost one rig, and the Pennsylvania Marcellus picked it up. However, last week, PA lost the rig once again, so the combined M-U count now stands at 34, down one rig from the previous week. Read More “PA Drops 1 Rig, M-U @ 34; National Rigs Keep Gains, Even @ 589”
We’ve brought you the news (a number of times) of how Encino Energy was the first driller to figure out how to coax large quantities of oil from the Ohio Utica Shale (see 
The Kosciusko Junction Pipeline Project, led by Gulf South Pipeline Company, LLC (a subsidiary of Boardwalk Pipelines), involves constructing approximately 110 miles of 36-inch natural gas pipeline. The project has an estimated cost of $1 billion and is supported by a 20-year agreement with an anchor customer. It is designed to transport up to 1.16 billion cubic feet per day (Bcf/d) initially, with potential for expansion to 1.58 Bcf/d. The pipeline aims to connect gas supplies from key basins, including the Marcellus/Utica, Haynesville, and Fayetteville, to power markets in the Southeastern United States. Last week, Boardwalk pulled the trigger and made a final investment decision (FID) to move forward with the Kosciusko Junction project. 
A December 11 Pennsylvania Department of Environmental Protection (PA DEP) inspection of a shale gas well pad and water impoundment owned by Nucomer Energy LLC in Hickory Township, Forest County, found the company still had not done final cleanup of the site more than 12 years after the wells were completed and 33 months after DEP issued the original violations for failure to restore the site. While we won’t defend noncompliance, the big story is why in the world the DEP didn’t follow up on the original construction from 12 years ago, and why, after issuing a notice of violation in April 2022, it took another 33 months before the DEP returned to check. Is the DEP asleep at the switch?! 
As we told you on Friday, it was looking like Venture Global’s Plaquemines LNG export facility (Plaquemines Parish, Louisiana) would start to liquefy natural gas as early as Friday (see 
WhiteHawk Energy is smitten with PHX Minerals. For the last 16 months, WhiteHawk has been trying to get PHX down the marriage aisle in any way it can. PHX has repeatedly given WhiteHawk the cold shoulder. WhiteHawk’s latest attempt, which we told you about in November, was an appeal to PHX shareholders to pressure the board to sell at $4 per share (see 
MARCELLUS/UTICA REGION: Langworthy’s appointment to House Energy Committee marks milestone for Southern Tier; NATIONAL: Chris Wright right-sizes climate risk; Fetterman embraces second Trump term as Biden heads for the exits; Granholm says voters have not felt benefits of Biden green agenda; INTERNATIONAL: UAE to curb oil shipments amid OPEC+ push for quota discipline; WTI tops $71 as sanctions loom.