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Baker Hughes U.S. Rig Count Down 2 @ 540; M-U Unchanged @ 36
Last week, the Baker Hughes U.S. rig count continued its downward trend, losing another two rigs to end at 540 active rigs nationwide. The count has been down 13 of the last 14 weeks, with the only slight increase happening three weeks ago. The Marcellus/Utica count remained the same (after gaining one rig two weeks ago) at a combined 36 active rigs. PA is running 18 active rigs. OH is running 11 rigs. And WV is operating 7 rigs. Read More “Baker Hughes U.S. Rig Count Down 2 @ 540; M-U Unchanged @ 36”
National Fuel Gas Company (NFG), headquartered in Buffalo, NY, is the parent company for Marcellus/Utica driller Seneca Resources and the parent of midstream company NFG Midstream (and subsidiary Empire Pipeline). Last week, NFG issued its latest quarterly update, which is the company’s fiscal 3rd quarter (but everyone else’s 2nd quarter). The update was loaded with good news for Seneca and NFG’s midstream sector. We learned that the company has been retained to build a 7-mile pipeline expansion off the company’s Line N system in Western PA, called the Shippingport Lateral Project, to feed natural gas to the Shippingport Power Station, announced in July (see 
Back in March, the Wall Street Journal reported that Shell is “exploring a potential sale of its chemicals assets in Europe and the U.S.,” which includes the recently completed Monaca (Beaver County, PA) ethane cracker complex (see 
Data centers are all the rage these days. It seems like a new data center is announced weekly somewhere in the Eastern U.S. Ohio has its fair share of them coming to the Buckeye State (
Glenfarne’s Texas LNG facility in Brownsville, Texas, will have the capacity to export 4 MTPA. EQT Corporation, the largest natural gas producer in the Marcellus/Utica, signed two agreements with Glenfarne to liquefy 2.0 million tons per annum (MTPA) of EQT-extracted shale gas at the facility when it’s built (see 
Last week, the Environmental Protection Agency (EPA) announced it will delay the implementation of new limits on methane emissions from oil and gas development by an extra 18 months, until January 22, 2027. The Trump EPA is considering scrapping the onerous regs altogether. The regulations were cooked up during the terror reign of President Autopen. Big Green, which loved the Autopen years, filed a lawsuit challenging the delay. No surprise there. 
OTHER U.S. REGIONS: To make NY more affordable, Gov. Hochul needs to ditch her all-electric plan and push natgas; NATIONAL: Weather forecast fog keeps natural gas futures in holding pattern; BlackRock, other fund managers lose bid to dismiss Texas climate collusion lawsuit; Exxon, Chevron surpass estimates with record oil production; Brookfield acquires Colonial Pipeline; Recent legislation reveals President Trump’s regulatory approach; Democrats retreat on the Green New Deal; South Korea reaches trade deal with Trump; INTERNATIONAL: Oil sinks as slew of weak us economic data revives demand fears; OPEC+ 8 announce 547,000 bpd ‘production adjustment’ for Sept; Wetland methane emissions accelerate due to rising temperatures.