NATIONAL: Kimmeridge cements plan to build integrated natural-gas company; EPA to save more than $1B per year after scrapping Biden-era emissions standards; INTERNATIONAL: Oil surges as USA orders partial evacuation of Iraqi embassy; Rising Asia temperatures bode well for US LNG export prospects. Read More “MDN’s Energy Stories of Interest: Thu, Jun 12, 2025 [FREE ACCESS]”
The Ohio Department of Natural Resources (ODNR) recently released production numbers for the first quarter of 2025. The top natural gas producer in the state, by far, was Ascent Resources, with 195,139,574 Mcf (or 195.14 Bcf) of production during the quarter, which works out to an average of 2.17 Bcf/d. Ascent’s production accounted for 40% of the state’s natural gas production. The top oil producer in the state, by far, was Encino Energy, with 5,360,199 barrels of oil during the quarter, which works out to an average of 59,557 barrels per day. Encino’s oil production was 49% (nearly half!) of Ohio’s entire oil production during 1Q25. Of course, Encino’s days as a standalone producer are numbered as EOG Resources is buying the company. Read More “Ohio Utica 1Q25 Production – Top O&G Wells, Drillers, Counties”
It’s been no secret that natural gas production in the Marcellus/Utica has stalled over the past few years. Since 2021, the M-U has been rangebound in producing somewhere between 34 and 37 Bcf/d (see the chart). The main reason we haven’t expanded our production is the lack of transportation (pipelines) to move our molecules to the markets that can use them. However, the ceiling for M-U production appears to be shattering. New pipeline projects to move more of our molecules are one, but not the only, factor in what may be another growth spurt in M-U production. Another factor is a growing market adjacent to the M-U (the Southeastern U.S.) with extra volumes needed for utility companies to distribute to new customers. Read More “Marcellus/Utica Set to Grow Thanks to LNG, Data Centers, Southeast”
This is funny, and sad. Yesterday, we brought you the news that Amazon has pledged to spend at least $20 billion to build multiple data centers in Pennsylvania (see Amazon Investing $20 Billion to Build AI Data Centers in Eastern PA). We opened our post with this statement (emphasis added): “Yesterday, Pennsylvania Governor Josh Shapiro took credit for brokering a deal that will see Amazon build at least three huge data centers (which Democrats typically dislike) in eastern Pennsylvania, investing $20 billion to do so.” Right on cue, the Better Path Coalition and No False Climate Solutions PA, two far-left, Democrat-controlled organizations, released a statement criticizing the deal and one of its own, Democrat Governor Josh Shapiro, claiming the announced data centers will continue to contribute to mythical man-made global warming. Read More “Enviros Call for PA to Reject Amazon’s $20B Data Center Plan”
The U.S. Energy Information Administration (EIA) issued its latest monthly Short-Term Energy Outlook yesterday, the agency’s monthly best guess about where energy prices and production will go in the next 12 months. In this latest assessment, EIA once again dropped its estimates for the Henry Hub spot price for 2025. The agency expects the HH price to average $4.00 per million British thermal units (MMBtu) in 2025, $0.10 lower than last month’s forecast (and $0.30 less than the forecast from two months ago). However, EIA expects the annual average price in 2026 to be $4.90/MMBtu, which is $0.10 higher than last month’s forecast and $0.30 higher than the forecast from two months ago. An interesting dichotomy—that prices will trend lower this year but higher next year. Read More “EIA’s June STEO Predicts NatGas Spot Price to Average $4 in ’25”
Banks remain confident in long-term energy fundamentals despite significant trade policy turbulence, according to the Spring 2025 Haynes Boone Energy Bank Price Deck Survey (full copy below). The survey, now in its 12th edition, is a leading source of information for energy lenders and producers, providing crucial details on commodity price expectations. Based on internal data from 28 banks, the latest survey indicates that while oil and gas prices have fluctuated in the short term, long-term forecasts remain consistent with past projections, suggesting that banks view recent economic changes as temporary. Banks expect natural gas prices to stay strong, in the $3.50-$3.75/MMBtu range through 2026, due to high LNG export demand and growing energy needs from artificial intelligence infrastructure. Read More “H&B Bank Survey Predicts NatGas Price $3.50-$3.75 Range Thru ’26”
Here’s a third natural gas price prediction, from Morningstar DBRS, a top company that gives independent credit ratings and opinions for businesses, governments, banks, and financial projects worldwide. Earlier this week, Morningstar published a commentary/report called: “Summer Heat Likely to Add to High LNG Export Demand, Tightening the North American Gas Market” (full copy below). In the report, Morningstar analysts write that they expect the North American natural gas supply and demand balance to tighten from summer heat-driven peak electricity demand and expanding LNG exports, supporting higher bids for spot gas prices. Analysts believe the average price for natural gas will hit $3.50/MMBtu both in 2025 and in 2026. Read More “Morningstar Report Says Summer Heat, LNG Exports Will Tighten Gas”
U.S. LNG feedgas demand slipped last week to its lowest level since mid-December due to ongoing maintenance at the Sabine Pass and Cameron LNG export facilities along the Gulf Coast. Two trains were offline at Sabine Pass, and one train was offline at Cameron, resulting in feedgas demand of 13.28 Bcf/d for the week (down 7% from the previous week). In something of a miracle, Freeport LNG was online with all trains producing! Read More “Maintenance at 2 LNG Export Plants Lowers U.S. Feedgas Demand”
OTHER U.S. REGIONS: NJ wind project that Trump dubbed a disaster is canceled; Developers propose more than 100 new gas power plants in Texas; NATIONAL: The shale macro and evolving production dynamics; DOE announces new supercomputer powered by Dell, NVIDIA; Produced water – one man’s garbage is another man’s gold; Granholm says Democrats must ‘do a better job’ selling clean energy; Trump energy adviser slams renewables, says focus is on fossil fuels; AEA urges Congress to act on $9.4 billion rescission package; INTERNATIONAL: EU proposes Nord Stream ban, lower oil cap to hit Russia; Oil edges lower as traders await result of US-China trade talks; Germany embraces LNG as it weans itself off Russian gas; Soviet-era gas crater ‘Door to Hell’ is finally dying down after 50 years of burning. Read More “MDN’s Energy Stories of Interest: Wed, Jun 11, 2025 [FREE ACCESS]”
The MVP (Mountain Valley Pipeline) Southgate project won a major decision in the U.S. Court of Appeals for the District of Columbia (DC Circuit), affirming a decision made by the Federal Energy Regulatory Commission (FERC) to allow an extra three years to build the project. Southgate is an extension of MVP from its current termination point in Pittsylvania County, Virginia, into Rockingham County, North Carolina. Coincidentally (or not), a day before the DC Circuit’s decision clearing the way for the project, MVP filed a request with the NC Department of Environmental Quality for a permit to build the project in that state. Read More “DC Appeals Court Upholds FERC Extra Time to Build MVP Southgate”
Yesterday, Pennsylvania Governor Josh Shapiro took credit for brokering a deal that will see Amazon build at least three huge data centers (which Democrats typically dislike) in eastern Pennsylvania, investing $20 billion to do so. It is a huge coup d’état, and we will give credit where credit is due to Shapiro for not screwing it up. Two of the three locations were announced: Luzerne County (near Wilkes-Barre) and Bucks County (near Philadelphia). Of course, these data centers will need massive amounts of electricity to power them. Although no mention was made of how they will be powered, the only practical way to power these facilities will be with Marcellus gas-fired power plants. Does Amazon know that Shapiro is trying to tax gas-fired power out of the state via the RGGI carbon tax? Read More “Amazon Investing $20 Billion to Build AI Data Centers in Eastern PA”
The Iroquois Gas Transmission’s Enhancement by Compression (ExC) project will increase horsepower at three compression stations — two in New York and one in Connecticut — by an extra 125 MMcf/d, to flow more Marcellus/Utica gas into New York City and New England. The two NY compressor expansions include one in Dover and one in Athens. The CT compressor expansion is located in Brookfield. Another CT compressor will get minor upgrades (gas cooling, no extra compression) in Milford. The NY DEC approved the permits for the NY compressors with the condition that Iroquois pays a $1.5 million bribe contribution to the “Disadvantaged Community Benefit Program” (see NY DEC Approves Iroquois Pipe Expansion…With $1.5M “Contribution”). The only remaining holdup now is a permit from the CT Department of Energy and Environmental Protection (DEEP) for the Brookfield compressor. It appears that a permit for Brookfield may soon be issued. Read More “Iroquois Pipe Expansion Close to Construction, Waiting on CT Permit”
In early April, MDN brought you the exciting news that pipeline giant Williams, via its subsidiary, Will-Power, is planning to build two Utica/Marcellus gas-fired power plants in the New Albany International Business Park in Licking County, Ohio (see Williams Subsidiary Unveils Plans for Gas-Fired Power Plant in Ohio). The two projects are called the Socrates North and Socrates South power plants. Our previous post focused on Socrates North, as that seemed to be the one closest to construction. However, yesterday, the Ohio Power Siting Board (OPSB) authorized and approved construction for the Socrates South project. Read More “OH Approves Williams Gas-Fired Plant to Power Facebook Data Center”
In April, MDN told you that the West Virginia Supreme Court was scheduled to hear oral arguments in two important oil and gas royalty cases (see WV Supremes Hear Oral Arguments in 2 Important O&G Royalty Cases). One of those two was Kaess v. BB Land LLC, a case we were not previously aware of. In Kaess v. BB Land LLC, the Supremes were asked to rule on two questions: (1) whether an implied duty to market applies to leases containing an “in-kind” royalty provision, and (2) whether the requirements for deducting post-production expenses apply to in-kind royalty leases. The Supremes ruled on Friday—in favor of landowners. Read More “WV Supremes Rule on “In-Kind” Royalties & Post-Production Deductions”
In April, Duke Energy, owner of electricity utility companies serving 8.6 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky, sealed a deal with GE Vernova to buy up to 11 gas turbines to power new gas-fired power plants (see Duke Energy Secures Deal for 11 GE Vernova Gas-Fired Turbines). That’s in addition to eight turbines Duke has already purchased from GE Vernova. We now know where at least one of those turbines will be used—for a newly announced gas-fired project in Anderson County, South Carolina. Read More “Duke Energy Announces New 1,400-MW Gas-Fired Plant for Anderson, SC”
According to the left-wing-funded (very partisan) Spotlight PA publication, a group of bills aimed at boosting electricity production and regulating clean energy has “rare, bipartisan support” in Pennsylvania’s divided legislature. We doubt that. More like a few RINOs are joining Democrats to support a few bills. Regardless of whether there is consensus between the two parties on these energy bills, they aren’t going anywhere in the PA Senate unless and until the state Supreme Court (loaded with Democrats) renders a decision on the Regional Greenhouse Gas Initiative (RGGI) carbon tax scheme. So says the PA Senate Majority Leader, Joe Pittman (Republican from Indiana). Read More “PA Senate Won’t Consider Energy Bills Until RGGI Carbon Tax Decided”