Pres. Trump Promotes Republican Mark Christie to FERC Chairman
Federal Energy Regulatory Commission (FERC) Commissioner Mark Christie, who first became a FERC commissioner when appointed by President Trump during his first term, was promoted to become the Chairman of FERC by Trump on Monday. Wow! We never saw that one coming. We didn’t even know Trump had FERC on his radar for the first day, let alone the first week or month. Yet he did. Christie replaces Democrat Willie Phillips as Chairman. Phillips, who frankly we liked, was appointed by Joe Biden. Phillips ran afoul of many leftwing Democrats because he sided with the two Republicans on the commission to form a 3-member majority in approving pipeline projects. Phillips will remain as a “regular” commissioner. Read More “Pres. Trump Promotes Republican Mark Christie to FERC Chairman”
A key issue has come about with the rapid increase in carbon capture and sequestration (CCS) projects around the country, including here in the Marcellus/Utica region. Where does one store (sequester) all that carbon dioxide (CO2)? The answer is underground in a Class VI injection well. Class VI wells are a relatively new classification for injection wells, created by the federal EPA in 2010. Who regulates Class VI wells is a flashpoint of controversy. Until yesterday, the EPA was the primary regulator (has “primacy”) in regulating Class VI wells in all but three states: North Dakota, Wyoming, and Louisiana. Yesterday, West Virginia was added to the Class VI primacy list. 
MARCELLUS/UTICA REGION: PJM prepares for high electricity demand; Hochul must abandon ALL her insane climate-change tax grabs; OTHER U.S. REGIONS: Fight over CT’s energy future; NATIONAL: Foreign billionaire is behind effort to take down ExxonMobil using courts; IPAA says “misguided, irrational energy policies are done”; API applauds President Trump’s Day One energy executive orders; Oil majors flirt with electricity; INTERNATIONAL: Europe gas jumps as Germany seeks to subsidize storage refills; EU is set to shrink ESG reporting rules amid French demands; Habeck urges Europe to limit reliance on US energy; Iran’s energy crisis. 
Our heads are officially blown! Did you catch any of yesterday’s inauguration? WOW!!! We have NEVER been more proud to be an American than we were yesterday. President Trump hit the ground running so fast the left’s heads were spinning around like Regan’s head in 
One year ago, the sleazy Joe Biden slapped a “pause” on allowing the Department of Energy (DOE) to review and issue export approvals for any new LNG export facilities (see 
According to an article in the Dominion Post, horizontal gas well permits in West Virginia dipped to “an all-time low” in 2023 and 2024. The Dominion Post talked with the Gas & Oil Association of West Virginia (GO-WV) about the numbers, the trends, and what might be ahead for the industry. Has shale drilling already seen its best days in the Mountain State? 
After losing five rigs two weeks ago, the Baker Hughes national rig count lost another four last week. The number of rigs nationally now stands at 580, the lowest since Dec. 2021 (over three years ago). The Marcellus/Utica rig count was a combined 34 last week—the same number for five weeks in a row. PA has operated 15 rigs for the past ten weeks, with the exception of one week, when the number briefly increased to 16 rigs (the week ending on Dec. 6). OH has operated nine rigs for the past seven weeks, and WV has operated 10 rigs for an astonishing 19 weeks in a row, going back to Sep. 13. 
The experts at RBN Energy recently analyzed the Q3 2024 financial results for the gas-focused producers the company tracks (mainly Marcellus/Utica producers). The gas-weighted E&Ps RBN follows had the best total shareholder return performance of the three peer groups they tracked through the first nine months of 2024, with a median gain of 14%. On the high side, CNX Resources’ share price was amazing, up more than 60% for the first nine months of last year. On the other end, Coterra Energy’s share price lost value. 
On Friday, three leftist judges who sit on the U.S. Court of Appeals for the District of Columbia (DC Circuit), one appointed by Joementia, one by Lord Obama, and a third by George H.W. Bush (Bush the 1st), threw out a rule the U.S. Department of Transportation had adopted during President Trump’s first term which allowed liquefied natural gas (LNG) to be transported by train. We warned you back in September the judges were signaling their intent to overturn LNG-by-rail during oral arguments (see 
Since it is a stock exchange holiday, and to honor the memory of Dr. Martin Luther King, Jr., and because it is the second inauguration of Donald J. Trump, MDN is taking today off, Monday, Jan. 20. It’s going to be a busy day with over 200 Executive Orders, many of them related to energy. We’ll keep track of developments and report in on Tuesday!
For the week of Jan 6 – 12, permits issued in the Marcellus/Utica to drill new shale wells remained healthy. There were 27 new permits issued last week, down three from 30 issued the week before. The Keystone State (PA) issued 13 new permits, with four going to Snyder Brothers in Armstrong County, four going to Coterra Energy in Susquehanna County (must be Coterra has restarted drilling), three for Infinity Natural Resources (INR) in Indiana County, and two for Range Resources in Washington County. 
Baby, it’s cold outside! And it’s getting colder beginning this weekend and moving into next week. The cold weather, combined with less natural gas in storage (less than the average), has increased the NYMEX “front month” futures contract for natural gas. Yesterday, the NYMEX price closed at $4.2580 per million British thermal units (MMBtu), the highest close since Dec. 30, 2022. Temps across the eastern half of the country (especially in the northeast) are set to hit lows not seen in years beginning next week. We think prices for NYMEX and many spot prices at trading hubs will spike higher.