GHG Satellites Focus on 21% Methane Emissions from O&G, Ignore 79%
Private satellites are “revolutionizing” the tracking of methane, a supposed greenhouse gas, by pinpointing emissions from specific oil, gas, and coal facilities globally. Using high-resolution data from the GHGSat constellation of 15 methane satellites, researchers have identified over 3,000 individual sites releasing approximately 9 million tons of methane annually. This new method “bridges the gap” between broad national estimates and on-the-ground measurements, revealing that emissions are often intermittent and harder to track than previously thought. With top emitters in countries such as Turkmenistan, the U.S., and China, these detailed satellite observations provide crucial data to guide targeted mitigation efforts and improve climate change predictions. Just one teeny, tiny problem: GHGSat is looking at 21% of fugitive methane emissions and IGNORING the vast majority of fugitive emissions from other sources. Why? Read More “GHG Satellites Focus on 21% Methane Emissions from O&G, Ignore 79%”
The Marcellus/Utica rig count gained a rig last week in the Ohio Utica. The combined count hit 39 total rigs, the most it has operated in more than a year. That’s great news! It means drilling is picking up in the M-U. Pennsylvania has held at 18 active rigs for four consecutive weeks. Ohio picked up one and now operates 14 rigs. Before last week, Ohio had held the same number of rigs at 13 since September 26. West Virginia maintained its 7 rigs, which it has operated since May 30. There were 24 rigs targeting the Marcellus and 15 targeting the Utica, for a combined 39 rigs in the M-U. 
U.S. natural gas production and demand reached record highs in 2025, with the U.S. Energy Information Administration (EIA) projecting continued growth in output and LNG exports through 2026. Driven by surging international demand in Europe and Asia, the U.S. has become the world’s largest LNG exporter. This natural gas resurgence is bolstered by the Trump administration’s support and significant investments from major energy firms prioritizing gas as a so-called transition fuel (it’s actually a destination fuel). Consequently, U.S. natural gas pipeline capacity is set for its biggest one-year expansion since 2008. Surging demand from LNG exporters, data centers, and manufacturing is driving a $50 billion investment boom. 
The U.S. Energy Information Administration (EIA) issued its latest monthly Short-Term Energy Outlook (STEO) yesterday. The STEO is the agency’s monthly best estimate of where energy prices and production will head over the next 12 months. In this latest assessment, EIA forecasts the cold snap hitting the United States this month will drive the Henry Hub natural gas spot price to average almost $4.30 per million British thermal units (MMBtu) this winter, which is 40 cents/MMBtu higher than its November forecast of $3.90. The price increase is driven by increased natural gas consumption for space heating. 
Yesterday, the Pennsylvania Independent Fiscal Office (IFO) released its latest quarterly Natural Gas Production Report for July through September 2025 (full copy below). There were 116 new horizontal wells spud (drilled) in 3Q25, a huge increase of 53 wells (+84%) compared to 3Q24. Natural gas production volume was 1,934 billion cubic feet (Bcf) in 3Q25, up 93 Bcf (+5%) from 1,841 Bcf produced in 3Q24. The average Pennsylvania spot hub price was $2.18, an increase of $0.74 (+51%) from the prior year’s $1.44. All in all, it was a great third quarter for the PA Marcellus. The numbers are going in the right direction. 
Wondering how your business can profit from the Marcellus/Utica with production and drilling on the increase once again? A 
There have been a number of new reports recently released predicting how new AI data center projects will affect (a) demand for electric power, and (b) demand for natural gas to generate that power. We spotted what at first glance appears to be contradictory predictions in two new reports issued this week. On Monday, BloombergNEF (the research arm of Bloomberg) issued a report predicting data center power demand will hit 106 gigawatts (GW) by 2035, a 36% jump from its previous outlook. Two days later, Enverus Intelligence® Research (EIR), a subsidiary of Enverus, issued a report that predicts 30 GW of new U.S. data center capacity will be needed over the next five years (by 2030)—significantly below the 50 GW forecasted by major grid operators. One report is wildly optimistic, the other pessimistic. What gives? 
Last week, the Baker Hughes U.S. national rig count got wacked good, losing 10 rigs from the previous week. The national count went from 554 to 544 (as of Wednesday, when BH reported the numbers). Bummer. It had gained rigs for each of the prior three weeks. Rigs in the Marcellus/Utica remained the same last week after gaining one rig the week before. Pennsylvania has held at 18 for two weeks in a row. Ohio was the same at 13 rigs, which it has operated since September 26. West Virginia maintained its 7 rigs, which it has operated since May 30. There were 24 rigs targeting the Marcellus and 14 targeting the Utica, for a combined 38 rigs in the M-U. 
The American Energy + AI Initiative, a collaboration between the Hamm Institute and the American Energy + AI Coalition, held a summit on Monday in Washington, D.C., to address the urgent need for firm power to sustain the rapid growth of Artificial Intelligence (AI) in the U.S. Cabinet officials, including DOE Secretary Chris Wright, and industry leaders, discussed concrete steps to modernize federal tools and accelerate power production. During the summit, a new study was released (full copy below) emphasizing that America’s ability to lead in AI depends on quickly building reliable energy and highlighted the immediate need for more natural gas to meet the massive, unexpected demand from data centers. 
The average number of active oil and natural gas rigs in the U.S. Lower 48 dropped sharply from 750 in late 2022 to 517 in October 2025, driven by lower prices and efficiency improvements. Despite this 31% decline, crude oil and natural gas production reached record highs as operators focused on the most productive areas, utilizing longer lateral lengths and advanced completion techniques. The Permian and Marcellus/Utica (Appalachia) regions exemplify this, with production growing significantly even as rig counts fell by 29%. For 2026, EIA forecasts a slight decline in oil production, constrained by lower WTI prices (predicted at $51/barrel). Natural gas output, however, is expected to increase slightly, supported by rising Henry Hub prices (predicted at $4.02/MMBtu) that will encourage gas-directed drilling. 
U.S. retail natural gas prices are rising across all sectors due to higher wholesale costs, particularly the Henry Hub spot price, which is expected to increase by 58% in 2025 compared to 2024. This increase translates unevenly to consumers. Electric power plants and the industrial sector are expected to see the most significant price hikes, forecast at 37% and 21%, respectively, as their costs are more directly tied to fluctuations in wholesale prices. Residential and commercial customers, however, are expected to experience smaller increases of 4% each. This smaller impact is due to utilities adjusting their rates more gradually, and wholesale commodity costs constitute a smaller portion of the final retail bill for these sectors, which also include significant fixed charges for transportation and distribution.