Higher NatGas Prices on the Way – Rystad Predicts $2.91 Avg 2H23
A Rystad Energy analyst says strong supplies and cool temps kept the price of natural gas low over the past few months–but that’s about to change. Rystad says new modeling shows a bump up in temps coming, and with it, a bump in the price of domestic natural gas. How much? Rystad believes the Henry Hub price will average $2.91/MMBtu for the remainder of 2023 (the latter half of the year). Which ain’t all that much if you ask us…but better than prices bumping around in the low $2 range as it has been since January.
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MDN recently reported that after eight years, Pennsylvania General Energy gave up on trying to build an environmentally safe wastewater injection well in Grant Township, Indiana County, PA (see 
In May, after years of litigation, the U.S. Supreme Court (SCOTUS) provided closure on what is and what is not considered “waters of the United States”–or WOTUS (see 
In the future, when everyone’s favorite groundhog Punxsutawney Phil pokes his head out of his hole in February to tell us whether or not there are another six weeks of winter, he may be looking at shale wastewater trucks coming and going on their way to a new underground injection well just outside of town. Yesterday the federal EPA issued a permit to G2 STEM LLC based in Fairfax, Virginia, to build a Class IID oil and gas wastewater underground injection well in Young Township, Jefferson County, PA. You may know the area by its famous boro, Punxsutawney.
Far-left environmentalist wackos have learned how to abuse the legal system in the U.S. in their attempts to block fossil energy. One of the places they excel in abusing the system is in Pennsylvania. When the PA Dept. of Environmental Protection (DEP) issues a new permit for a project the left opposes, they appeal the decision to a special court established in PA to hear appeals of DEP decisions, called the Environmental Hearing Board (EHB). The left tries to fool the EHB into ruling against a DEP decision by claiming there is “new information” that should be considered, information that has come to light since the original DEP decision. It’s a sleazy legal tactic. Senate Bill (SB) 198, introduced by PA Sen. Camera Bartolotta (R-Washington), closes that loophole in the legal process.
In 2017, Texas-based Newpark Resources bought out and merged in Well Service Group located in Robinson Township, near Pittsburgh, for $75 million (see 
In late December, the New Jersey Board of Public Utilities (BPU) voted to grant permission to New Jersey Natural Gas (NJNG) to build a pipeline regulator station in Holmdel, NJ. What does a regulator station do? It reduces pressure on the underground natural gas pipelines that already exist in the area, running underneath the ground in Holmdel Township and throughout Monmouth County. Ultimately, a regulator station will ensure the reliability of the pipelines and gas that flows in the area. The new station will replace a currently-operating temporary regulator station. Yet the “leaders” of Holmdel voted to appeal the BPU decision to court, allocating up to $20,000 of taxpayer money for legal fees in what is sure to be a fruitless attempt at overturning the BPU decision (see 
Earlier this month, we noticed a short Bloomberg article about a stray comment made by Exxon Mobile CEO Darren Woods. He was speaking at the Bernstein Annual Strategic Decisions Conference held on June 1 in New York City. Woods said he has tasked the brainiacs who work for Exxon to figure out a way to improve fracking, which (Woods said), is still “not well understood.” Woods wants to double oil recovery from fracked wells. Folks, doubling oil (and gas!) recovery via fracking would launch the second shale revolution!
Drilling Tools International (DTI) has just received a major cash infusion of $40.8 million to expand and begin trading as a public company. DTI is a Houston, Texas-based oilfield services company that manufactures and rents downhole drilling tools used in horizontal and directional drilling of oil and natural gas wells. DTI, a private company until now, operates from 22 locations across North America, Europe, and the Middle East, including a location in Charleroi (Washington County), PA, where it services Marcellus/Utica drillers.
The Tennessee Valley Authority (TVA) is a federally-owned electric utility corporation in the U.S. TVA’s service area covers all of Tennessee, portions of Alabama, Mississippi, and Kentucky, and small areas of Georgia, North Carolina, and Virginia. TVA is the sixth-largest power supplier and the largest public utility in the U.S. Two years ago, MDN told you that TVA is spending over $1 billion to replace six coal-fired plants with natgas-fired turbines (see 
MDN has repeatedly warned you that the International Energy Agency (IEA) has become a political shill for the extreme left environmental movement. Two years ago, the IEA published its laughable Net Zero Roadmap (see 
Early last week, we published a post about the possibility that Equitrans would revive its moribund project to build the 75-mile Mountain Valley Pipeline (MVP) Southgate project from the current MVP terminus in Pittsylvania County, VA, to Alamance County, NC (see