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BH U.S. Rig Count Down 11th Week in a Row @ 537; M-U Even @ 35
The Baker Hughes U.S. rig count has been hemorrhaging for 11 consecutive weeks. Last week, the U.S. rig count declined by another two rigs to its lowest level since October 2021, ending the week at 537 active rigs. You have to go back to the dark days of the pandemic, July 2020, for the previous 11+ consecutive weeks of decline in the rig count. The Marcellus/Utica stayed even (after falling by one two weeks ago) at a combined 35 active rigs. There were 23 rigs targeting the Marcellus and 12 rigs targeting the Utica last week. Read More “BH U.S. Rig Count Down 11th Week in a Row @ 537; M-U Even @ 35”
We had heard rumors that the LNG liquefaction plant planned by New Fortress Energy (NFE) for Wyalusing in Bradford County, PA, was being dropped in favor of an alternative. Namely, a gas-fired power plant project. We can now confirm that the rumors are true. The Pennsylvania Department of Environmental Protection (DEP) published notice in the July 12 PA Bulletin inviting comments on an air permit for the proposed 248 megawatt (MW) Wyalusing Energy Center, a natural gas-fired power plant in Wyalusing Township, to be used to power a data center. The power plant permit is for the exact location where the LNG liquefaction plant was planned. 
Penneco Environmental Solutions wants to build a second wastewater injection well in Plum Borough (Allegheny County), PA, next to an existing injection well. Penneco’s first wastewater injection well in Plum finally opened for business in mid-2021, overcoming all sorts of smears, slanders, and lawsuits by the enviro-left (see 
A pipeline court case to celebrate (we take our victories where we can find them). Washington Gas Light Company (WGL) seeks to install a 24-inch-diameter high-pressure natural gas pipeline through the Pimmit Hills neighborhood in Fairfax County, Virginia. Fairfax County is a suburb of Washington, D.C. The County Zoning Board of Appeals claimed the project needs a “special exemption” issued by the County Board of Supervisors (nine of the Supervisors are Democrats, one is a Republican). The Court of Appeals for Virginia knocked that bogus claim down. 
The U.S. Energy Information Administration (EIA) issued its latest monthly Short-Term Energy Outlook (STEO) last week. The STEO is the agency’s monthly best guess about where energy prices and production will head in the next 12 months. In this latest assessment, EIA dropped its estimates for the Henry Hub spot price for 2025. The agency expects the HH price to average $3.70 per million British thermal units (MMBtu) in 2025, $0.30 lower than last month’s forecast. EIA also dropped its 2026 forecast, now believing the gas price will average $4.40/MMBtu, down a whopping $0.50 (half a buck!) from last month’s $4.90. You can see why we refer to the dartboard EIA uses each month when creating these forecasts. 
MARCELLUS/UTICA REGION: Pittsburgh summit to showcase intersection of energy, AI and policy; How Pennsylvania ranked on a national best-states-for-business list; OTHER U.S. REGIONS: Renewable energy project cancellations spike in Texas; Chevron planning $5 billion blue hydrogen/ammonia plant in Texas; Kathy Hochul’s only slowing down the suffering from her green-energy lunacy; NATIONAL: U.S. hydrocarbon production supported by export growth in long-term projections; Trump’s energy chief bats away alarms from activists, news media about ending green power subsidies; Dems couldn’t save Biden’s energy programs — so they’ll try to make them a weapon against the GOP; INTERNATIONAL: Oil rises on looming US Russia sanction threats; Climate change is the No. 1 problem of no nation; Burn more oil and coal, save lives and never ever apologize; Who is the world’s biggest energy supplier?; Netherlands rations electricity to ease power grid stresses.