NYMEX Gas Futures Hit $4.995 on Cold Forecast; M-U Spot Avg $4.74
Yesterday, the NYMEX “front-month” futures price for natural gas closed up 15 cents at $4.995 (call it $5), which is the highest closing price for NYMEX in nearly three years (since Dec. 27, 2022). Intraday trading of the front-month contract floated above $5 at points. Weather forecasts of impending frigid weather were the main reason for the increase. Futures prices are now up more than 60% compared with a year ago. “Forecasts for the coldest December since 2010 may tip storage into a deficit by Christmas,” trading firm EBW Analytics wrote in a note to clients. Fewer molecules with more demand equals higher prices. As for the spot price at trading hubs in the Marcellus/Utica region, averaging all of them together, the price closed yesterday at $4.74, nearly at parity with the Henry Hub spot price of $4.87. That’s unheard of! Read More “NYMEX Gas Futures Hit $4.995 on Cold Forecast; M-U Spot Avg $4.74”
Yesterday, the Pennsylvania Independent Fiscal Office (IFO) released its latest quarterly Natural Gas Production Report for July through September 2025 (full copy below). There were 116 new horizontal wells spud (drilled) in 3Q25, a huge increase of 53 wells (+84%) compared to 3Q24. Natural gas production volume was 1,934 billion cubic feet (Bcf) in 3Q25, up 93 Bcf (+5%) from 1,841 Bcf produced in 3Q24. The average Pennsylvania spot hub price was $2.18, an increase of $0.74 (+51%) from the prior year’s $1.44. All in all, it was a great third quarter for the PA Marcellus. The numbers are going in the right direction. 
Wondering how your business can profit from the Marcellus/Utica with production and drilling on the increase once again? A 
Three anti-shale drilling groups—the PA Council of Trout Unlimited, the Keystone Trails Association, and the Responsible Drilling Alliance—have requested the Pennsylvania Department of Environmental Protection (DEP) hold a hearing on the Chapter 105 permit requested for a 3.9-mile shale gas access road and staging area proposed by PA General Energy in Gamble and Cascade Townships, Lycoming County. The aim of their request is not to elicit information or express concerns that can be addressed to achieve a better outcome; rather, it is to flood the hearing with bombastic charges in hopes of blocking the project altogether. 
There have been a number of new reports recently released predicting how new AI data center projects will affect (a) demand for electric power, and (b) demand for natural gas to generate that power. We spotted what at first glance appears to be contradictory predictions in two new reports issued this week. On Monday, BloombergNEF (the research arm of Bloomberg) issued a report predicting data center power demand will hit 106 gigawatts (GW) by 2035, a 36% jump from its previous outlook. Two days later, Enverus Intelligence® Research (EIR), a subsidiary of Enverus, issued a report that predicts 30 GW of new U.S. data center capacity will be needed over the next five years (by 2030)—significantly below the 50 GW forecasted by major grid operators. One report is wildly optimistic, the other pessimistic. What gives? 
Another story in our Bizarre Files series. So-called climate activists have made a huuuge discovery. They can burn (flare) methane (CH4) coming out of an abandoned coal mine in Colorado, and it turns into carbon dioxide (CO2). Who knew? The activists declare that burning methane is “better” for the environment — that it’s green! Why? Because methane flying into the atmosphere is a bazillion times more “harmful” to Mom Earth than is carbon dioxide flying into the atmosphere. Yet when the oil industry does the same exact thing, flaring methane that comes out of an oil well instead of allowing it to fly into the atmosphere, those same climate activists declare it’s a climate disaster. It’s the end of mankind. Bizarre. 
MARCELLUS/UTICA REGION: Utica Shale Academy receives grant for security equipment; OTHER U.S. REGIONS: Newlab and JERA partner to commercialize next-gen CO2 capture tech; Blame Dems for fueling New York’s ‘affordability’ crisis with their green-energy insanity; NATIONAL: South Korean companies to build ships in the U.S.; Williams leadership foresees moderate, sustained natural gas prices; 2025 was a no good, terrible, very bad year for the energy transition; INTERNATIONAL: Oil closes up as peace deal falls short; Russia oil revenue falls by a third; Europe’s green energy rush slashed emissions—and crippled the economy; Europe finds winter relief in LNG surge from US; Asia backs away as Europe becomes the LNG price-setter.