Marcellus Drilling News

Commodity Price | Industrywide Issues

NYMEX Natural Gas Price Hits Two-Year High of $4.491/MMBtu
March 11, 2025March 11, 2025

The NYMEX natural gas “front month” futures contract (currently the April contract) closed at its highest level yesterday since Dec. 29, 2022, closing at $4.4910 per million British thermal units (MMBtu). That was a gain of 9.2 cents from Friday’s close. However, it was quite the roller coaster, at least early in the day, as the price flirted with $5. At one point the price got as high as $4.901. Although weather is typically the factor driving price gains, this time it was trader psychology and concerns that U.S. natural gas storage levels could tighten further ahead of the summer air-conditioning season (less supply with the same or increasing demand). Read More “NYMEX Natural Gas Price Hits Two-Year High of $4.491/MMBtu”
Ascent Resources | Chesapeake Energy | CNX Resources | Energy Companies | Energy Services | EQT Corp | Equitrans/EQT Midstream | Industrywide Issues | MarkWest Energy | Research | Seneca Resources

Report: M-U has Lowest Methane Emission Intensity of Any O&G Basin
March 11, 2025March 11, 2025

The Appalachian Methane Initiative (AMI) is a coalition of leading U.S. natural gas companies in the Marcellus/Utica, including Ascent Resources, CNX Resources, EQT Corporation, Equitrans Midstream Corporation (now part of EQT), Expand Energy Corporation, MPLX, and Seneca Resources. AMI uses independent monitoring providers, technical consultants, and top-tier universities to monitor and track methane emissions in the M-U. Yesterday the group released the findings of its 2024 basin-wide methane monitoring program. The report confirms that the Appalachian Basin (the M-U) has the lowest methane emissions intensity of any major oil and gas producing basin in the United States. Read More “Report: M-U has Lowest Methane Emission Intensity of Any O&G Basin”
Electrical Generation | Industrywide Issues | Litigation | Statewide VA | Taxation | Virginia

Judge Rules Virginia Can Stay Out of RGGI Carbon Tax…For Now
March 11, 2025March 11, 2025

click for larger version

Last November, a Floyd County Circuit Court judge ruled Virginia Governor Glenn Youngkin’s effort to remove his state from the Regional Greenhouse Gas Initiative (RGGI) carbon tax scheme was not legal—therefore the state would, for now, remain in the carbon tax club (see Circuit Court Judge Rules Virginia Can’t Leave RGGI Carbon Tax). Youngkin promised to appeal the decision, which he did. Last week, the same court temporarily suspended its November decision that forced Virginia back into RGGI while the appeal continues. So for now, Virginia is not collecting the RGGI fee from power producers. Read More “Judge Rules Virginia Can Stay Out of RGGI Carbon Tax…For Now”
Electrical Generation | Industrywide Issues

Net Power Makes Progress with Tech, High Costs a Challenge
March 11, 2025March 11, 2025

In December 2022, Rice Acquisition Corp II, a special purpose acquisition company (SPAC) started by the Rice brothers (Danny, Toby, and Derek), announced a deal to acquire Net Power — an electric power developer with revolutionary new technology to capture every last molecule of carbon dioxide from natural gas-fired power plants (see Dan Rice Buys Co. that Builds Zero-Carbon Gas-Fired Electric Plants). The Rice deal to buy Net Power closed in June 2023, with Danny Rice (former CEO of Rice Energy) becoming the new CEO of NET Power (see NET Power Completes $1.5B Merger with Rice Acquisition Corp.). Net Power, now a publicly traded company, issued its fourth quarter 2024 and business update yesterday to inform investors of its progress. Read More “Net Power Makes Progress with Tech, High Costs a Challenge”
Anti-Drilling/Fossil Fuel | Industrywide Issues | Pennsylvania | Statewide PA

Anti-Drilling Trout Unlimited Crying Over $180M in Frozen Funds
March 11, 2025March 11, 2025

For more than 13 years MDN has harped on the fact that groups like Trout Unlimited are filled with extremist anti-drillers (see our article Anti-Drilling Close-up: Trout Unlimited from October 2012). In February 2014, a national organization aimed a spotlight on Trout Unlimited and several other so-called “conservation” groups (see Trout Unlimited, Other Groups Outted as Radical Green Groups). The Center for Consumer Freedom (CCF) said TU and several other groups, while starting with good intentions, have been “co-opted by wealthy grant-making bodies notorious for their support of anti-gun, radical environmentalist agendas” all the while pretending to support hunters and fishermen. Now comes word that anti-drilling TU is being funded with OUR tax dollars—some $180 million of our tax dollars. Trump and the DOGE team have frozen that funding and TU is crying like a baby. Read More “Anti-Drilling Trout Unlimited Crying Over $180M in Frozen Funds”
Industrywide Issues | Regulation

DOE Sec. Wright Delivers Barn Burner Speech at CERAWeek
March 11, 2025March 11, 2025

DOE Sec. Chris Wright – “Climate Realist”

Energy Secretary Chris Wright delivered a barn burner of a speech to kick off the CERAWeek by S&P Global conference in Houston, TX—perhaps THE premier energy event held each year. In his keynote speech, Wright pledged to reverse a “very poor direction in energy policy” under former President Joe Biden. He added, “The previous administration’s policy was focused myopically on climate change with people as simply collateral damage.” Wright said he’s NOT a “climate denier” nor a “climate skeptic.” He calls himself a “climate realist.” Read More “DOE Sec. Wright Delivers Barn Burner Speech at CERAWeek”
Best of the Rest

Other Stories of Interest: Tue, Mar 11, 2025
March 11, 2025March 11, 2025

MARCELLUS/UTICA REGION: America needs the energy Pennsylvania can supply; OTHER U.S. REGIONS: US approves extension to Delfin LNG export permit; Arizona man stumbles upon Jordan Cove LNG project, seeks to revive it; NATIONAL: Pete Hegseth drives the stake through climate change driving defense policy; How US energy independence changed geopolitics; Tech giants increasingly turning to natural gas to power data centers; The dilemma of LNG exports and U.S. energy security; A way to make cheap, clean hydrogen–without federal subsidies; NextEra Energy CEO says natgas can meet only small part of U.S. power demand; EQT CEO says ‘the market is screaming that we need more energy’; INTERNATIONAL: Fraser Institute says fracking bans costing billions in Nova Scotia and New Brunswick; Climate misinformation from the United Nations. Read More “Other Stories of Interest: Tue, Mar 11, 2025”