M-U Rig Count Stays @ 39 for 5th Week; Nat’l Count Drops 2 @ 544
The Marcellus/Utica rig count gained 1 rig five weeks ago in the Ohio Utica, bringing the total to 39 rigs. For the past five reports in a row, the M-U has maintained that count—the most rigs it has operated in more than a year. Pennsylvania has held at 18 active rigs for eight consecutive weeks. Ohio has operated 14 rigs for five straight weeks (its highest in over a year). And West Virginia maintained 7 rigs, which it has operated since May 30, 2025. There were 24 rigs targeting the Marcellus and 15 targeting the Utica. The national count lost 2 rigs last week, bringing the total to 544 active rigs. Read More “M-U Rig Count Stays @ 39 for 5th Week; Nat’l Count Drops 2 @ 544”

Last year, Houston-based EOG Resources acquired Encino Acquisition Partners for $5.6 billion, establishing the Utica Shale as a “third foundational play” alongside its Permian and Eagle Ford assets (see
Last summer, Texas Eastern Transmission Pipeline Company (aka TETCO, owned by Enbridge) filed to build the Appalachia to Market III Project, abbreviated A2M III (see
Data center forecasts — beyond existing data centers — made up 45% of the $47.2 billion in capacity costs in PJM’s last three capacity auctions, according to a report by Monitoring Analytics, PJM’s so-called independent market monitor. Data center load accounted for $6.5 billion, or 40%, of the $16.4 billion in costs from the PJM Interconnection’s December capacity auction (the most recent auction). PJM’s market monitor directly and unequivocally blames new data centers for higher electricity prices, instead of putting the blame where it really belongs: On Democrat governors who have restricted new gas-fired power plants. 
In 2025, U.S. natural gas prices at the Henry Hub averaged $3.52/MMBtu, representing a 56% increase from the inflation-adjusted record lows of 2024. This upward trend was fueled by rising LNG export capacity and intense winter heating demand, punctuated by late-year polar vortex events. Although record-high summer production and reduced electric power sector consumption moderated prices mid-year, regional volatility persisted. While most hubs saw increases, the Northeast experienced dramatic spikes due to pipeline constraints.
MARCELLUS/UTICA REGION: Vistra and Meta announce agreements to support nuclear plants in PJM; OTHER U.S. REGIONS: Texas oil, gas industry employed nearly 500k Texans in 2025; NATIONAL: U.S. natural gas falls on loose supply outlook; 30 pct of oil reserves might be consolidated under U.S. influence; Why don’t global lower tropospheric temps more closely track atmospheric CO2 levels?; Energy stocks enter 2026 on uneven ground after a surprising 2025; INTERNATIONAL: Iran turmoil pushes oil price to weekly gain; OPEC receives updated compensation plans from 4 countries; China’s gas growth casts a shadow over LNG demand; Why Canada is rethinking pipelines and rediscovering refineries.