Antero Returns to Dry Gas Drilling; Confirms Ohio Utica for Sale
Antero Resources, the largest Marcellus/Utica (M-U) driller in West Virginia, released its Q3 2025 update with two significant announcements. One is that newly appointed CEO Michael Kennedy is “excited” for the company to return to dry gas drilling after “more than a decade,” with the first new dry gas well specifically intended to service the data center market. Second, we can confirm our prior speculation to say that Antero is officially marketing its Ohio Utica assets for sale. We previously brought you that rumor in early September (see Rumor: Antero Preparing to Sell Ohio Utica Upstream, Midstream). Read More “Antero Returns to Dry Gas Drilling; Confirms Ohio Utica for Sale”
Last week, the Baker Hughes U.S. national rig count lost rigs after adding rigs for two consecutive prior weeks. The national count dropped four from 550 to 546. Baker Hughes said last week’s decline puts the total rig count down 39 rigs, or 7% below the same time last year. Rigs in the Marcellus/Utica remained the same last week at a combined 37 rigs, the same number for five weeks in a row. Pennsylvania remained unchanged at 17 active rigs. Ohio was the same at 13 rigs. And West Virginia maintained its 7 rigs, which it has operated since May 30. There were 23 rigs targeting the Marcellus and 14 targeting the Utica. 
After the 
During the third quarter, Expand Energy, formed by the merger of Chesapeake Energy and Southwestern Energy in late 2024, significantly expanded its portfolio by acquiring 82,500 new acres across the Marcellus and Haynesville shale plays for approximately $235 million. The company added approximately 7,500 acres in the Marcellus in Ohio and West Virginia for $57 million, which can accommodate over 40 well locations. The larger acquisition involved 75,000 acres in the western Haynesville for $178 million, with the potential for over 200 locations. Expand, which produced 7.33 Bcfe/d (92% natural gas), reported strong financial results for the quarter, including nearly $3 billion in revenue and a profit of $547 million. The company produced 7.2 Bcfe/d in 2Q25. Expand is the largest natural gas producer in the country. 
Yesterday, Ohio Governor Mike DeWine and JobsOhio (a private nonprofit economic development corporation) launched the $100 million JobsOhio Energy Opportunity Initiative, a five-year fund to bolster economic development through energy production. The initiative will provide grants and low-interest loans to qualifying companies to offset costs related to natural gas, power generation, and nuclear power, specifically Small Modular Reactors (SMRs). 
Proposed Ohio legislation, Senate Bill (SB) 294, seeks to redefine “clean energy” to include natural gas, a fossil fuel, and, according to lefties, a major contributor to mythical global warming. At the same time, the bill would declare renewable sources like wind and solar “unreliable.” SB 294 would compel the Ohio Power Siting Board to favor energy projects it deems both clean and reliable, effectively prioritizing natural gas power plants. The bill’s sponsors argue this leverages Ohio’s substantial shale gas reserves and provides a cleaner alternative to coal. 
Here’s a neat company we haven’t written about in 4 1/2 years: 
Vallourec Star, a steel pipe manufacturer in Youngstown, OH, serving the shale and other industries, was approved yesterday by the Ohio Tax Credit Authority for a seven-year job creation tax credit. It means the company will create 40 new full-time positions. The tax credit supports Vallourec Star’s plan to expand its current operations to manufacture a new line of high-quality steel pipe. 
We happened across a lawsuit we didn’t know about, involving an issue we’ve seen before. A landowner in Belmont County, Ohio, filed a lawsuit in June 2024 alleging that Gulfport Energy, in a joint development agreement with EQT (the lease owner), drilled three wells under the landowner’s property that tapped into the Point Pleasant formation, which sits immediately below the Utica. The landowner said the lease only allows drilling in the Utica and Marcellus and NOT in the Point Pleasant. 
In August, Marietta, OH, officials, including the city’s Republican mayor, law director, water superintendent, and a majority of city council members, asked the Ohio Department of Natural Resources (ODNR) Oil and Gas to deny a permit application from DeepRock Disposal Solutions for the Stephan #1 injection well, which would be the company’s fifth injection well in the area (see 
The U.S. Army Corps of Engineers has proposed new permitting processes in West Virginia and Ohio that would allow certain fossil fuel projects to be built through wetlands and streams without a public comment opportunity. The proposals would allow mines, natural gas pipelines, hydropower dams, and other energy infrastructure projects in WV and OH to proceed using two simplified permits: “letters of permission” and “regional general permits.” For these projects, water pollution impacts must be limited to 2 acres or less for a letter of permission and 1 acre or less for a regional general permit. This action has the potential to speed up new natural gas pipeline projects in the Marcellus/Utica region. 
Earlier this morning, National Fuel Gas Company, a large utility company headquartered in the Buffalo, NY area with both upstream and midstream subsidiaries (Seneca Resources and NFG Midstream), announced a deal with CenterPoint Energy to acquire CenterPoint’s Ohio natural gas utility business (CNP Ohio) for $2.62 billion. The deal includes 5,900 miles of distribution and transmission pipelines and serves approximately 335,000 residential, commercial, industrial, and transportation customers that consume approximately 60 Bcf of natural gas per year. The deal significantly increases NFG’s gas utility customer base, from roughly 750,000 to well over 1 million.