Baker Hughes | Energy Services | Industrywide Issues | Ohio | Pennsylvania | Research | West Virginia
U.S. Rig Count Adds 2 @ 548; Marcellus/Utica Unchanged @ 37
Last week, the Baker Hughes U.S. national rig count gained rigs again after dropping rigs in the prior week. The national count added two rigs, going from 546 to 548. The BH rig count has added rigs in three of the last four weeks. Rigs in the Marcellus/Utica remained the same last week at a combined 37, the same number for six weeks in a row. Pennsylvania remained unchanged at 17 active rigs (six weeks in a row). Ohio was the same at 13 rigs (seven weeks in a row). And West Virginia maintained its 7 rigs, which it has operated since May 30 (24 weeks in a row). There were 23 rigs targeting the Marcellus and 14 targeting the Utica. Read More “U.S. Rig Count Adds 2 @ 548; Marcellus/Utica Unchanged @ 37”
We continue to be delighted with the number of new permits issued to drill shale wells in the Marcellus/Utica. Three weeks ago, that number soared to 37. Two weeks ago, it increased to 39. And last week the number remained high, down just two, back to 37 once again. Wow! We haven’t seen a sustained trend of high permit numbers like this in many moons. Pennsylvania issued 13 new permits last week, down from 23 the prior week. Ohio issued 8 new permits, down from 11 the prior week. It was West Virginia that was the breakout star, issuing 16 new permits, up from issuing 5 the preceding week. 
Ascent Resources, founded as American Energy Partners by Aubrey McClendon, a gas industry legend, is a privately held company that focuses 100% on the Ohio Utica Shale. Ascent, headquartered in Oklahoma City, OK, is Ohio’s largest natural gas producer and one of the largest natural gas producers in the U.S. The company issued its third quarter 2025 update yesterday. Net production for the quarter averaged 2,247 MMcfe/d (2.25 Bcfe/d), consisting of 1,900 MMcf/d of natural gas, 16,130 bbls/d of oil, and 41,652 bbls/d of natural gas liquids (NGLs), putting liquids at 15% of the overall production mix for the quarter. 
Bluegrass Power Generation has proposed an 800-megawatt, $2.5 to $3 billion natural gas-fired electric generation facility in Fayette County, Ohio, pending approval from the Ohio Power Siting Board. The plant is designed to operate “behind-the-meter,” exclusively supplying power to dedicated nearby third-party facilities, like the L-H Battery Company (Honda/LG Energy Solution), for at least 30 years, disconnected from the main power grid. The project is expected to create 500 construction jobs and 30 permanent operational positions, generating significant tax revenue and strengthening Ohio’s high-tech infrastructure to support future industrial growth. Construction is currently slated to begin in February 2026. 
Gulfport Energy is the third-largest driller in the Ohio Utica Shale (by the number of wells drilled). Gulfport released its third quarter update yesterday. The company is going full steam ahead in its natgas drilling in the Ohio Marcellus. Gulfport is aggressively expanding its future drilling potential. The company nearly tripled its Marcellus inventory, adding roughly 125 gross locations. Concurrently, Gulfport successfully finished two Utica U-development test wells, a move that proves drilling feasibility and unlocks an additional 20 gross Utica dry gas locations. 
In January 2023, Ohio House Bill (HB) 507 became law with the signature of Gov. Mike DeWine (see 
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 
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. 