M-U Spot Price of NatGas Comes Within $0.25 of Henry Hub
We’ve noticed something that, in our opinion, is very unusual. In reviewing the most recent NYMEX natural gas futures prices and comparing spot (physical) prices at various trading hubs in the northeast, we discovered that over the past week, the spot price in the Marcellus/Utica has risen by roughly $1.00 per MMBtu. Current spot prices in the M-U are now within 25 cents of the Henry Hub spot price, the “benchmark” for all natural gas prices nationwide. Read More “M-U Spot Price of NatGas Comes Within $0.25 of Henry Hub”
Ohio House Bill (HB) 170, which authorizes Carbon Capture and Storage (CCS) by injecting captured CO2 into subsurface “pore space,” passed the Ohio House and has advanced to the Ohio Senate. The bill establishes a state regulatory framework, delegating to the Ohio Department of Natural Resources (ODNR) the authority to govern Class VI injection wells. This bill, if it becomes law (as seems likely), has significant implications for both drillers and landowners. 
Vallourec Star, a steel pipe manufacturer in Youngstown, OH, serving the shale and other industries, was approved yesterday by the Ohio Tax Credit Authority for a seven-year job creation tax credit. It means the company will create 40 new full-time positions. The tax credit supports Vallourec Star’s plan to expand its current operations to manufacture a new line of high-quality steel pipe. 
The Pennsylvania Independent Oil & Gas Association (PIOGA) has approved a resolution to become the sole, controlling member of the Pennsylvania Independent Petroleum Producers Association, Inc. (PIPP), effectively making PIPP a subsidiary. This unification, approved by both boards in October, aims to strengthen the unified voice of the state’s oil and natural gas industry. According to PIOGA Board Chairman Michael Hillebrand and PIOGA President Dan Weaver, the move ensures independent producers speak with “one voice, one vision, and one future,” allowing the associations to operate more efficiently and amplify their advocacy efforts in Harrisburg and beyond. 
Diversified Energy (DEC) has achieved the Gold Standard Reporting certification, the highest level awarded by the UN’s Oil & Gas Methane Partnership 2.0 (OGMP 2.0). Diversified says this recognition validates the company’s commitment to significantly reducing methane emissions and providing transparent, measurement-based reporting, which the UN’s IMEO views as the industry standard. Given that the UN (United Nations) seeks to destroy fossil energy, we find it odd that the organization hands out awards to oil and gas companies. 
For over 30 years, the Henry Hub in Louisiana has served as the key anchor for natural gas pricing in the contiguous United States. Its role, however, has dramatically evolved over the last decade, primarily due to the rapid growth of U.S. LNG exports. Henry Hub has shifted from being a benchmark for U.S. natural gas to the primary index for global LNG cargo pricing. Consequently, the volume of physical gas exchanged at the hub is at its highest, and Henry Hub prices are now considered a premium compared to other domestic markets. 
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