Low Permian NatGas Price Causes Some Oil Drillers to Shut In Wells
Here’s a story that may, at first glance, seem to have nothing to do with the Marcellus/Utica. Au contraire! The story of what’s happening with Permian drillers has a great deal to do with the M-U region. Although MDN frequently refers to the Haynesville Shale as the #1 competitor to the M-U because both plays target natural gas as the primary hydrocarbon, would it surprise you to learn that the Permian basin is the #2 producer of natural gas behind the M-U? And it’s catching up. Permian Basin drillers are experiencing starkly contrasting fortunes, reaping historic profits from war-driven oil price rallies while facing negative regional natural gas prices due to severe pipeline bottlenecks. To curb financial losses from associated gas, major producers like Permian Resources and Devon Energy are shutting in wells, while others resort to flaring to maintain more profitable crude production. Read More “Low Permian NatGas Price Causes Some Oil Drillers to Shut In Wells”
Back in March, MDN alerted you to a potential new water pipeline coming in Lycoming County, PA, for EQT shale drilling (see 
ISO New England’s Internal Market Monitor reported that total wholesale electricity costs in New England reached $15 billion in 2025, up 48% from 2024. The increase was driven by higher natural gas prices, tighter supply, changes in the resource mix, and shifts in market design. Day-ahead energy prices averaged $71.81/MWh, up 73%, while real-time prices rose 67% to $65.89/MWh. Natural gas prices more than doubled to $6.27/MMBtu. Carbon taxes added $1.1 billion to energy costs. Boiling it all down, aside from carbon taxes, high natgas prices are the main culprit. The report (full copy below) has some thoughts about why natgas prices are so high in New England. 
Data center growth is driving new investment in natural gas midstream in 2026, especially for behind-the-meter gas-fired generation as grid interconnection delays persist. S&P Global Energy CERA has tracked 130 North American data center projects planning on-site generation, with more than 80% relying on gas. Major activity is emerging in Marcellus and Utica-adjacent markets, including UGI’s Pennsylvania deal with Prime Data Centers, National Fuel expansions in western Pennsylvania, and Williams’ Ohio Aristotle and Neo projects. 
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 
Last Thursday (May 21), the commissioners of the Federal Energy Regulatory Commission (FERC) unanimously proposed significant changes to the agency’s natural gas blanket certificate program, the most substantial overhaul since 2006. The Notice of Proposed Rulemaking (NOPR) aims to roughly double the cost thresholds for pipeline companies to build and modify infrastructure without extensive case-by-case approval. It also expands eligible project categories and, for the first time, extends streamlined authorization to certain LNG facility activities. 
Yesterday, MDN told you that Enbridge has launched an open season for customers to sign up for capacity along an expanded Algonquin Gas Transmission pipeline in New England (see 
Last week, the news broke that Enbridge is exploring a major expansion of its Algonquin Gas Transmission pipeline into New England, and had briefed the Trump administration’s National Energy Dominance Council about its plans (see 
Duke Energy, headquartered in Charlotte, N.C., is one of the largest U.S. energy holding companies, serving 8.7 million electric customers and 1.8 million gas customers across six states. While the company dabbles in unreliable renewables like solar and wind, its bread-and-butter, go-to source for new electric power generation is natural gas, which it gets from the Marcellus/Utica. We’ve reported on many of Duke’s announced new gas-fired power plant projects (