M-U has More Supply Than We Can Use In-Basin for New Powergen
Northeast natural gas demand (the amount we use in-basin, in the Marcellus/Utica) has grown by 46% over 15 years, reaching 20.1 Bcf/d in 2024, driven primarily by power-sector consumption, which has doubled since 2010 as coal plants have retired. Gas-fired generation serves to balance seasonal fluctuations in unreliable wind and solar, peaking in the summer months. Future growth in new demand for natural gas, says RBN Energy, faces “headwinds” from renewable expansion. The U.S. Energy Information Administration (EIA) projects a small increase of 230 MMcf/d in new gas supplies needed through 2030. However, six major data center projects—led by Frontier Group’s 3.6 GW Shippingport facility and Nscale’s 1.4 GW Monarch center—could add 1 Bcf/d in demand by 2029, totaling potential growth of 1.2 Bcf/d in new supply needed. However, there’s still an ongoing mismatch between supply and demand. Read More “M-U has More Supply Than We Can Use In-Basin for New Powergen”
U.S. shale producers face limited ability to rapidly boost crude output because drilled-but-uncompleted wells, or DUCs, have fallen to record lows. DUCs can bring production online in six to nine weeks, faster and cheaper than drilling new wells, making them a key industry buffer during supply shocks. Since the U.S.-Israeli war on Iran disrupted Middle Eastern oil flows, U.S. exports and refinery runs have surged, drawing down crude inventories sharply. But years of DUC depletion have reduced shale’s flexibility. Operators are now adding rigs and completion crews, especially in the Permian, to rebuild inventories as higher future oil prices support new drilling. 
Pennsylvania Republican gubernatorial candidate Stacy Garrity (currently the State Treasurer) yesterday called for a “total pause” on Pennsylvania A.I. data center development, arguing communities need time to update zoning, protect neighborhoods and farmland, strengthen noise rules, and secure transparency on water, energy, health, infrastructure, taxpayer, and ratepayer impacts. While we have expressed similar sentiment that common-sense guidelines are needed for data centers regarding water, noise, and energy use, we strongly disagree with a total statewide (and indefinite) “pause” on new projects. It sends the exact WRONG signal to the tech industry — that both Republicans and Democrats in the state are now blocking data centers in the Keystone State. Pausing or blocking data centers jeopardizes $92 billion worth of private investment in the state. 
Ohio Governor Mike DeWine announced on May 27, 2026, that he has directed the chair of the Ohio Tax Credit Authority to pause consideration of any new data center tax exemption requests. The pause comes while the Ohio General Assembly’s Joint Data Center Committee “studies” the growth of data centers in the state. DeWine noted that data centers previously granted sales and use tax benefits reported a total capital investment of $27.2 billion in 2025. The Tax Credit Authority will stop accepting new exemption proposals after a meeting next Monday, where it will consider one final proposal. DeWine said the move is a suspension of new exemptions, NOT a data center ban. 
In April 2025, MDN told you about a new greenfield expansion of Kinder Morgan’s (KM) Elba Express pipeline into South Carolina to serve growing demand for natural gas in the state (see 
The oil and gas industry not only benefits from the AI (data center) sector by supplying natural gas to power plants, it also benefits by *using* AI in its operations. Like just about every other business on the planet, O&G companies are now using (embedding) AI into their business. Here’s a startling statistic: In 2025, O&G companies worldwide spent a cumulative estimated $25 billion on AI, according to Rystad Energy. By 2035, that number will be an estimated $50 billion per year. Amazing! Are you looking for a hot hot hot job? Look at AI in O&G. 
Pennsylvania Governor Josh Shapiro introduced new “Responsible Infrastructure Development (GRID) Standards” for data center developers yesterday. These standards aim to tie tax breaks to sustainability and transparency, addressing concerns about energy affordability, pollution, noise, and overall quality of life. Under Shapiro’s GRID plan, data center developers seeking tax exemptions would need to demonstrate that they meet requirements to protect energy affordability, promote transparency and community engagement, support workforce development, and safeguard the environment. Projects would also be required to incorporate so-called clean energy sources and adhere to strict efficiency and environmental protection measures. 
Sen. Jarrett Coleman (R-Bucks/Lehigh) and Rep. Jamie Walsh (R-Luzerne) have introduced legislation in Pennsylvania to address the rapid expansion of data centers. Their proposed bills aim to repeal a 2021 tax exemption that incentivizes data centers to locate in the state. The bills would also empower municipalities to implement an 18-month moratorium on data center development applications. With all due respect, these two Republicans have lost their way and are out of their minds. 
The Warren, OH, City Council introduced legislation to impose a permanent ban on new data centers, citing concerns about water supply, wastewater infrastructure, utility costs, and the city’s residential character. Sponsored by Democrats, the proposed ordinance argues that data centers place unsustainable demands on city systems, particularly following a costly wastewater plant upgrade. One Council Democrat drew parallels between data centers and past fracking “disappointments” in the region, emphasizing water as the community’s most critical resource. 
Founded in 2001, ArcLight Capital Partners is a leading infrastructure investor focused on critical electrification assets. The firm has owned, controlled, or operated more than 70 GW of assets and 48,000 miles of electric and gas transmission and storage infrastructure, representing over $90 billion in enterprise value. ArcLight invests across power, hydro, solar, wind, battery storage, electric and natural gas transmission, storage infrastructure, and digital power. ArcLight is an investor/owner of a number of key assets in the Marcellus Utica, including gas-fired power plants and pipelines (
The Appalachian Basin, spanning Pennsylvania, West Virginia, and Ohio, has become America’s premier natural gas province, producing over 35 billion cubic feet daily (Bcf/d) in 2024. Driven by hydraulic fracturing in the Marcellus and Utica shales, private mineral rights, and low breakeven costs below $2 per MMBtu, the basin has reshaped *global* energy markets. How? Infrastructure constraints (lack of pipelines) and Mid-Atlantic political opposition prevent local LNG export terminal development. Even so, Marcellus/Utica gas underwrites domestic power markets, fuels digital infrastructure, and indirectly propelled the United States to become the world’s leading LNG superpower by displacing Gulf Coast gas for export liquefaction. 
We spotted a press release by the Intercontinental Exchange (ICE) announcing record “open interest” across its global energy markets in May 2026, reaching 130.5 million contracts. It’s all highly technical financial jargon. We decided to research it to figure out (a) what it is saying, and (b) how/why it’s important for the Marcellus/Utica. We’re glad we did. The press release from ICE—one of the largest financial exchanges in the world—announces that the global energy market is currently seeing a historic amount of financial activity. In short, more energy companies, investors, and utilities than ever before are using financial contracts to lock in future natural gas and electricity prices. 
Earlier this month, MDN told you that WhiteHawk Energy (undergoing a rename to WhiteHawk Minerals), a natural gas mineral and royalty interest owner in the Marcellus and Haynesville plays, with over 3.4 million gross acres under lease for drilling, was teeing up for an initial public offering (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. 