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M-U Driller Stock Prices Increase Due to Coming Data Center Demand
The data center high tide is lifting all gas drilling boats. That’s according to a new study from S&P Global Commodity Insights that finds the expectations of a coming boom in demand for electricity for data centers, which will create a boom in demand for natural gas to produce the electricity, is causing gas drilling companies to increase in value. It’s hard to accurately quantify the value for private companies, but for public companies (those with stock that trade on the open market), we can confirm that over the past year, the value for drillers with significant operations in the Marcellus/Utica has, on average, risen dramatically. Read More “M-U Driller Stock Prices Increase Due to Coming Data Center Demand”
Expand Energy, formed by the merger of Chesapeake Energy and Southwestern Energy, is the largest natural gas producer in the U.S. with approximately 1.9 million leased net acres. Expand drills and operates in three distinct regions: Northeast Appalachia (Pennsylvania), Southwest Appalachia (mostly West Virginia, but also Pennsylvania and Ohio), and the Haynesville (Louisiana). The company issued its first quarter 2025 update two weeks ago. In 1Q25, Expand operated an average of 11 rigs drilling 46 wells and turning 89 wells in line to sales, resulting in net production of approximately 6.79 Bcfe per day (92% natural gas). The company expects to exit 2025 at a production level of roughly 7.2 Bcfe per day, with projections to grow to 7.5 Bcfe per day in 2026. 
For the week of April 28 – May 4, the number of permits issued to drill new wells in the Marcellus/Utica was down two from the previous week. Last week, 22 new permits were issued in the M-U. In the Keystone State (PA), 10 new permits were issued. The top permittee was NFG’s Seneca Resources, which had four permits in Tioga County. PennEnergy Resource received two permits in Butler County. Expand Energy (SWN) received two permits in Lycoming County. Finally, both Coterra Energy and EQT (Rice Drilling) received a single permit, in Susquehanna and Washington counties, respectively. 
The highly functional and responsible Susquehanna River Basin Commission (SRBC), unlike its completely dysfunctional and irresponsible cousin, the Delaware River Basin Commission (DRBC), continues to support the shale energy industry by approving water withdrawals and consumptive use for responsible and safe shale drilling. The SRBC published a notice in the April 19 Pennsylvania Bulletin that the Executive Director of the SRBC gave his approval to or renewed 58 general water use permits in March for individual shale gas well drilling pads in Blair, Bradford, Clearfield, Lycoming, Susquehanna, Tioga, and Wyoming counties in Pennsylvania.