Expand CEO Dell’Osso Predicts Gas Demand to Grow 20 Bcf/d by 2030
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. The company operates in three distinct regions: Northeast Appalachia (Pennsylvania), Southwest Appalachia (primarily West Virginia, with additional presence in Pennsylvania and Ohio), and the Haynesville (Louisiana). Expand CEO Nick Dell’Osso appeared yesterday on CNBC’s “Power Lunch” segment to share his insights on the supply-demand dynamic for natural gas, pipelines, and more. He had some VERY interesting things to say. Read More “Expand CEO Dell’Osso Predicts Gas Demand to Grow 20 Bcf/d by 2030”
For the week of September 15 – 21, the number of permits issued to drill new wells in the Marcellus/Utica decreased from the previous week, but not by much. There were 24 new permits issued across the three M-U states last week, down from 26 issued two weeks ago. Pennsylvania finally improved a bit, but only because of one driller. PA issued 11 new permits last week, with 10 of the 11 going to Range Resources. Range’s permits were spread across three counties, with one permit in Allegheny, five in Beaver, and four in Washington. The other PA permit went to Beech Resources for a well in Lycoming County. 
In October 2024, Chesapeake Energy completed its $8.2 billion merger with Southwestern Energy (renaming the combined company Expand Energy), and in the process became the country’s #1 highest producing natural gas company, taking that title away from EQT Corporation (see 
The highly functional and responsible Susquehanna River Basin Commission (SRBC), unlike its highly 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 and safe shale drilling. The SRBC published a notice in the September 20 Pennsylvania Bulletin that the Executive Director of the SRBC approved and/or renewed 40 general water use permits in August for individual shale gas well drilling pads in Bradford, Centre, Clearfield, Lycoming, Sullivan, Susquehanna, Tioga, and Wyoming counties in Pennsylvania. 
Earlier this month, we brought you the bombshell news that Antero Resources, the country’s fifth-largest natural gas producer and largest producer in West Virginia, is preparing to market its Ohio Utica assets, hoping to fetch $900 million to $1 billion (see 
EY, previously known as Ernst & Young, is a multinational professional services network (i.e., consulting firm) based in London. EY is also one of the “big four” largest accounting firms in the world. EY published a new study last week titled “US Oil and Gas Reserves, Production and ESG Benchmarking Study” (full copy below). The study found that due to mergers and acquisitions in 2024, the largest publicly traded oil and gas companies in the U.S. went from 50 down to 40, and that those 40 companies produced a staggering 41% of all O&G production in this country. It’s probably no surprise that many in the list produce natural gas (and oil) in the Marcellus/Utica. 
The highly functional and responsible Susquehanna River Basin Commission (SRBC), unlike its highly dysfunctional and irresponsible counterpart, 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 also tells shale drillers when to stop withdrawing if low water flow (i.e., drought) conditions exist. And that’s what the SRBC did earlier today. The agency, via its Hydrologic Conditions Monitor, warned shale drillers that, at 47 listed locations (all in Pennsylvania), they must stop water withdrawals until streamflow reaches a specific “trigger flow” target (different for each location). 
According to an article on the Fortune magazine website, “AI’s endless thirst for power is driving a natural gas boom in Appalachia—and industry stocks are booming along with it.” It looks like the roles are reversing. For all of oil and gas history, oil has been the belle of the ball, the more sought-after hydrocarbon. A change is happening, at least in places like the Marcellus/Utica, where natural gas is the more sought-after commodity. And because of that, the stock price for companies that focus on gas drilling is soaring. The market capitalization (stock value times the number of outstanding shares) for M-U companies has soared 25% to 75% over the past 12 months. Wow!