Bernstein Research Predicts NatGas Price to Average $5 in 2025/26
Hart Energy is reporting some startling statements from Bernstein Research in a new report. One insight (statement) offered by Bernstein is that U.S. natural gas will average $5/Mcf in 2025 and 2026, and that’s “conservative, in our view.” Bernstein predicts “a coming U.S. gas super-cycle.” The Bernstein team expects U.S. gas demand will grow from some 120 Bcf/d today to 150 Bcf/d by 2030 as new AI data centers and LNG export trains come online. Read More “Bernstein Research Predicts NatGas Price to Average $5 in 2025/26”
The Texas Eastern Transmission Pipeline Company (aka TETCO) recently filed a request with the Federal Energy Regulatory Commission (FERC) to make a change in its plans related to upgrades at the pipeline’s Entriken Compressor Station located in Todd Township, Huntingdon County, Pennsylvania. Several years ago, TETCO (owned by Enbridge) filed to build the Appalachia to Market II Project (A2MII) and the Entriken HP Replacement Project (see 
Going back perhaps more than a decade, we have told you about the shortcomings of the Pennsylvania Department of Environmental Protection (DEP) regarding the timely review and issuance of permits used during the drilling process. A Chapter 102 Erosion and Sedimentation Permit or Chapter 105 Water Obstruction and Encroachment General Permit could take two, three, or even six months for approval — instead of the policy-mandated 14 days. Current Gov. Josh Shapiro made it a goal to “fix” the permit issue when he assumed office two years ago. In November, the DEP announced it had eliminated its permit backlog (see 
Enverus, a prominent analytics and advisory firm in the oil and gas space, released its Top 50 Public E&P Operators of 2024 list last week. Enverus is famously guarded in not allowing the media to publish their data, so we don’t have the full list of 50. However, Enverus shared the top three most prolific (by production) shale drillers for last year. Two of the top three are oil drillers in the Permian Basin (Exxon at #1, Occidental Petroleum at #3). However, at the #2 spot, nestled between those two, is Expand Energy, the new name for the combined Chesapeake Energy and Southwestern Energy. Yes, a natural gas company (gas converted to barrels of oil equivalent) is the #2 most prolific producer in the entire country, beating out Oxy! Most of the gas Expand produces is produced in the Marcellus/Utica. 
A judge has dismissed New York City’s lawsuit seeking to hold Exxon Mobil, BP, and Shell liable for misleading the public about their products and claims that their commitment to renewable energy and fighting climate change are false. The case was so weak not even a Democrat judge appointed by Kathy Hochul could stomach it. In her ruling, Justice Anar Rathod Patel told the city it could not have it both ways. The city claimed its residents knew about mythical climate change and how it is caused by burning nasty fossil fuels. Yet the city’s lawsuit claims Big Oil has tricked people into using fossil energy with false and misleading advertising. Patel wrote, “The city cannot have it both ways.” Touché! 
Two days ago, the U.S. Energy Information Administration (EIA) released its latest monthly Short-Term Energy Outlook (STEO), which we reported on yesterday (see 
MARCELLUS/UTICA REGION: Pa. Democrat Sen. John Fetterman signals he’ll support some Trump cabinet selections; NATIONAL: House GOP resolution would overturn Biden’s gas water heater ban; Trump to make it easier for LNG export permit renewals; INTERNATIONAL: Russia says it damaged facilities at Ukraine gas storage site; Oil surges past $80 amid tight supply.