FERC Takes New Look at Constitution Pipeline Before Reissuing Cert
The Federal Energy Regulatory Commission (FERC) is actively reviewing two requests related to reviving the Constitution Pipeline project, a 124-mile pipeline from the Marcellus gas fields of Susquehanna County, PA, to Schoharie County, NY, to move Marcellus gas into New York State and New England. Following a deal between President Trump and NY Governor Hochul to allow the project, Williams (the builder) asked FERC in January to reissue the originally-issued certificate for the project, along with a waiver that says the project no longer needs approval by NY to receive a Clean Water Act Section 401 clearance (see Williams Asks FERC to Reissue Constitution Pipe Cert & NY Waiver). Read More “FERC Takes New Look at Constitution Pipeline Before Reissuing Cert”
Epsilon Energy, a relatively small company, used to concentrate most of its effort on developing Marcellus Shale wells. However, over the past few years, the company has expanded into other plays and now owns assets in the Anadarko (Oklahoma), the Permian (Texas), the Powder River Basin (Wyoming), and the Western Canadian Sedimentary Basin (in Alberta, Canada). In the Marcellus, Epsilon does not do its own drilling. It is a joint venture partner with (gives money to) Expand Energy, and Expand does the drilling in the Marcellus. Epsilon issued its latest quarterly update yesterday, discussing what’s on the docket for 2026. And, what’s on the docket is that Expand plans to drill five new wells this year on Epsilon’s leased acreage in northeast Pennsylvania. 
Coterra Energy issued its fourth quarter and full-year 2025 update yesterday. For this latest update, there was no earnings conference call with analysts due to the impending merger of Coterra into Devon Energy. Companies don’t want to face questions about the merger or risk screwing it up, so they keep mum. Can’t blame them. What we noticed about Coterra’s 4Q update is that the company continues to treat its Marcellus gas production as a cash cow to fund oil drilling in the Permian Basin. Even so, we were encouraged to see an increase in the number of new wells drilled in 4Q and for full-year 2025, although Marcellus production slipped in 4Q and for full-year 2025 relative to 2024. Call it maintenance mode. 
The Marcellus/Utica region received a combined 43 new drilling permits last week, Feb. 9 – 15, up 19 from the permits issued two weeks ago. The most recent high in permits (going back at least a year) occurred during the first week of December, when 60 new permits were issued (see 
The highly functional and responsible Susquehanna River Basin Commission (SRBC), unlike its highly dysfunctional and irresponsible counterpart, the Delaware River Basin Commission (DRBC), continues to support the shale energy industry by approving water withdrawals and consumptive use requests for responsible and safe shale drilling. The SRBC published a notice in the February 7 Pennsylvania Bulletin that the Executive Director of the SRBC approved and/or renewed 42 general water use permits in December and 32 general permits in January (74 combined) for individual shale gas well drilling pads in Bradford, Clearfield, Clinton, Lycoming, Sullivan, Susquehanna, Tioga, and Wyoming counties. 
Yesterday, MDN brought you the big news that Devon Energy is buying out and merging with Coterra Energy, paying $21.4 billion in Devon stock (see 
Volatility is the watchword for new permits in the Marcellus/Utica. Three weeks ago, the combined count between Pennsylvania, Ohio, and West Virginia was a measly 8 new permits (see