Marcellus Driller Arsenal Considers Selling Itself for $1.5 Billion
The rumor mill is chattering once again. Bloomberg reports that Arsenal Resources, a private natural gas producer focused on the Marcellus Shale, is considering a potential sale of itself valued at approximately $1.5 billion. The company, owned by its creditors since emerging from bankruptcy in late 2019 (see Arsenal Resources Ch. 11 Bankruptcy Plan Approved by Court), operates extensively in northern West Virginia and Pennsylvania, holding about 208,000 net acres. This move reflects ongoing consolidation in the Marcellus basin, driven by strong natural gas fundamentals, increasing LNG exports, and power generation demand. Read More “Marcellus Driller Arsenal Considers Selling Itself for $1.5 Billion”
The Iroquois Gas Transmission’s Enhancement by Compression (ExC) project will increase horsepower at three compression stations — two in New York and one in Connecticut — by an extra 125 MMcf/d, to flow more Marcellus/Utica gas into New York City and New England. The NY Department of Environmental Conservation (DEC) approved the permits for the NY compressors with the condition that Iroquois pays a $1.5 million “contribution” (we call it a bribe) to the “Disadvantaged Community Benefit Program” (see 
Natural gas flows along the Rover Pipeline have been cut by 387 MMcf/d (out of 3.25 – 3.4 Bcf/d) due to maintenance at the Bulger Compressor Station, which is expected to last through the end of the month, curbing Appalachian takeaway capacity to the Midwest and Canada. Additionally, the MarkWest Harmon Creek gas processing plant in Washington County, PA, is reported to be offline due to this work. 
Yesterday, the Pennsylvania Department of Environmental Protection (DEP) informed the House Environmental and Natural Resource Protection Committee that it remains uncertain about the final contents of its plan to reduce methane emissions from oil and gas operations, which is due to the EPA in January 2027. That is, they don’t have a clue. This cluelessness follows an extensive public comment period on a proposed plan for onerous regulations (developed during the dark Biden years) that aims to satisfy federal obligations primarily through general permits and references to federal standards. 
Halliburton, the world’s second-largest OFS (oilfield services) company, issued its first quarter 2026 update yesterday. CEO Jeff Miller said, “In North America, I see clear signs that we are in the early innings of a recovery.” Cool. Of course, he’s talking about oil drilling, mostly. While the update and earnings conference call did not specifically mention the Marcellus/Utica, they did include information highly relevant to our region. In particular, the company prominently mentioned its electric fracking “e-fleets” and said that the current low price of natural gas represents a significant opportunity for drillers to save money by using it instead of diesel to power fracking equipment. 
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