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28 New Shale Well Permits Reported for PA-OH-WV Jun 29 – Jul 5
The Marcellus/Utica region received 28 new drilling permits last week, June 29 – July 5, down 3 from two weeks ago. Last week, Pennsylvania issued 18 new permits. Ohio issued 4 new permits. And, West Virginia issued 6 new permits. The drillers who received new permits included: Antero Resources (6), CNX Resources (10), EOG Resources (4), EQT (1), Expand Energy (3), and Range Resources (4). Read More “28 New Shale Well Permits Reported for PA-OH-WV Jun 29 – Jul 5”
In a recent interview with Bloomberg, EQT CEO Toby Rice declared that natural gas is poised to surpass petroleum as America’s top energy source by 2030, ending oil’s 75-year dominance that began in 1950 when it overtook coal. In 2025, gas accounted for 36% of U.S. energy consumption, compared with petroleum’s 37%, with Rice predicting a crossover within a couple of years. The shale revolution’s cheap gas has displaced coal in power generation, fueled economic electrification, and complemented intermittent renewables, while flat gasoline demand — partly due to EVs — has stalled oil consumption. The EIA projects gas demand growing 3.4% through 2027 versus 0.6% for petroleum, and booming LNG exports add further momentum. 
EQT Corporation, the largest driller in the Marcellus/Utica (based on M-U production), recently achieved two records with the same Marcellus well. EQT drilled not only the “deepest” shale well in the continental U.S. (by “measured depth”), but also the longest horizontal shale well (by lateral length). EQT’s Longwell 9H well, located in Wetzel County, West Virginia (near the Pennsylvania border), eclipses a record set by Expand Energy in 2025 in Marshall County, WV. 
This is a momentous occasion. Yesterday, the Federal Energy Regulatory Commission (FERC) issued a “Notice to Proceed with Construction” order authorizing Mountain Valley Pipeline (owned by EQT Corporation) to proceed with construction of MVP Southgate pipeline in North Carolina. This follows FERC granting permission to begin building Southgate in Virginia in April (see 
EQT Corp’s mixed-index natural gas product blends NYMEX Henry Hub futures with one or more physical basin indices (such as Dominion South) into a single sales contract, often weighted toward Henry Hub for hedging liquidity. Splitting exposure between national futures and local spot dynamics dilutes price swings, helping power generators, LNG exporters, and large industrials reduce earnings volatility while retaining some upside from favorable regional spreads. 
Back in March, MDN alerted you to a potential new water pipeline coming in Lycoming County, PA, for EQT shale drilling (see 
The Virginia Supreme Court issued a ruling last Thursday with far-reaching consequences not only for the plaintiffs who won the case (EQT and Diversified Energy) but also for other conventional and, if it ever develops, shale drillers in the state. EQT and Diversified sued Wise County, VA, alleging that Wise County’s method of valuing their assets in the county overvalued them, resulting in a much higher tax bill. The Supremes agreed and sent the case back to a lower court to rework the valuations. 
The highly functional and responsible Susquehanna River Basin Commission (SRBC), unlike its dysfunctional and irresponsible counterpart, the Delaware River Basin Commission (DRBC), continues to support the shale energy industry by approving water withdrawals and consumptive use requests for responsible, safe shale drilling. The SRBC published a notice in the May 23rd Pennsylvania Bulletin that the SRBC approved and/or renewed 33 general water use permits in April for individual shale gas well drilling pads in Bradford, Cameron, Lycoming, Sullivan, Susquehanna, Tioga, and Wyoming counties.