Marcellus Drilling News

Anti-Drilling/Fossil Fuel | Industrywide Issues | Litigation | New York | Regulation | Statewide NY

2nd Circuit Hears Arguments to Overturn NYC, NYS Ban on Gas Hookups
February 5, 2026February 5, 2026

In January 2023, New York Gov. Kathy Hochul, a leftist Democrat, floated a plan to ban natural gas hookups in every single new home and business across the “Empire” State (see NY Gov. Hochul Loses Her Mind – Wants to Ban Gas in New Buildings). She even wanted to ban gas in existing homes, but that was too much to stomach even for NY’s left-wing Democrats (see New York Legislators Block Hochul NatGas Ban for Existing Homes). As part of the 2023-2024 budget deal, Hochul got her statewide ban on new hookups (see NY State has Fallen – Gas Stoves & Peaker Plants Banned in Budget). So, beginning Jan. 1, 2026, new homes (or businesses) in New York State were scheduled to be banned from connecting to an existing natural gas pipeline system. Except Hochul backpeddled, using a lawsuit as an excuse to delay implementing the new law (see NY’s Jan. 1 Ban on New Gas Hookups Delayed by Lawsuit). The Second Circuit heard arguments in the case last Friday. Read More “2nd Circuit Hears Arguments to Overturn NYC, NYS Ban on Gas Hookups”
CNX Resources | Electrical Generation | Energy Companies | Industrywide Issues

Nick Deiuliis: 7 Days in January That Exposed PJM Grid Truths
February 5, 2026February 5, 2026

Nick Deiuliis

One of our favorite Marcellus drilling CEOs has been Nick Deiuliis, CEO of CNX Resources from 2014 until he retired at the end of 2025. Nick remains on the Board of CNX. He has been and continues to be an active author, writing about energy issues. Nick has a brilliant post on LinkedIn about the recent Winter Storm Fern and what it reveals about the energy sources powering the PJM Interconnection grid. Nick points out that the PJM grid survived record-breaking demand through the reliability of traditional energy. Natural gas, nuclear, and coal provided over 90% of total generation, with gas acting as the primary workhorse and nuclear providing a steady baseload. Conversely, solar and wind struggled, contributing less than 5% combined due to weather-induced failures like snow-covered panels and erratic winds. Read More “Nick Deiuliis: 7 Days in January That Exposed PJM Grid Truths”
Anti-Drilling/Fossil Fuel | Energy Companies | EQT Corp | Expand Energy | Industrywide Issues

Antis Ignore Huge Natural Methane Leaks to Focus on Tiny M-U Leaks
February 5, 2026February 5, 2026

Anti-fossil fuelers, using one of their favorite mainstream media sources (the Financial Times of London), claim that satellite data revealed over 20 massive methane “super-emitter” plumes linked to EQT Corp. and Expand Energy in the Appalachian Basin between 2024 and 2025. These events, which exceed 100kg per hour, challenge the companies’ claims of low emission intensity and effective mitigation. EQT rightly disputes the findings. So-called environmental “experts” emphasize that actual emissions often surpass industry reports. The antis say that given methane’s potency in trapping heat, these recurring leaks from major U.S. producers underscore the urgent need for infrastructure upgrades and more transparent monitoring to meet global climate goals. The thing is, these same antis ignore 79% of global methane emissions (40% of which is natural, from the Earth itself) to focus on just 21% of the “problem,” illustrating the hypocrisy of the environmental left. Read More “Antis Ignore Huge Natural Methane Leaks to Focus on Tiny M-U Leaks”
Best of the Rest

MDN’s Energy Stories of Interest: Thu, Feb 5, 2026
February 5, 2026February 5, 2026

OTHER U.S. REGIONS: The most regressive tax you’ve never heard of; Massachusetts’s new hydro-power grid fails – will New York be next?; NATIONAL: U.S. natural gas futures gain ahead of storage data; More data centers plan to build their own natural gas plants for power; House lawmakers press FERC on affordability, reliability and gas; U.S. power boom triggers global gas turbine shortage; When it comes to climate and energy, let’s retire the politics of fear; INTERNATIONAL: Oil ends higher amid rising Middle East risks; Russian oil revenues plunge to 5 year low; AI power needs may turn LNG glut to gap by 2030, says Qatar Energy CEO. Read More “MDN’s Energy Stories of Interest: Thu, Feb 5, 2026”
Coterra Energy (Cabot O&G) | Devon Energy | Energy Companies | Industrywide Issues | M&A | Pennsylvania | Susquehanna County

Analysts Speculate About the Future of Coterra’s Marcellus Assets
February 4, 2026February 4, 2026

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 Devon Energy Buying Coterra Energy for $21.4B in All-Stock Merger). The focus of the merger is the two companies’ complementary acreage in the oil-rich Delaware Basin, a subbasin in the Texas Permian. Analysts are now discussing what a post-merger company will look like in terms of assets. Will the combined company (keeping the Devon name) keep or sell its prolific Marcellus assets in Susquehanna County, PA? Read More “Analysts Speculate About the Future of Coterra’s Marcellus Assets”
Coterra Energy (Cabot O&G) | Energy Companies | Industrywide Issues | M&A

Coterra Energy CEO Tom Jorden’s “Golden Parachute” Worth Millions
February 4, 2026February 4, 2026

Not that he isn’t already a very rich man, but Coterra Energy CEO Tom Jorden stands to rake in an additional $6 million to $9 million (possibly much more) from a “golden parachute” if the proposed merger between Coterra and Devon Energy goes through. Based on the reports following the merger announcement between Coterra and Devon, Coterra’s upper management (in particular, Jorden) is protected by substantial “golden parachute” (change-in-control) agreements. These agreements were specifically updated just before the deal was made public to ensure executive retention and fair treatment during the transition. Read More “Coterra Energy CEO Tom Jorden’s “Golden Parachute” Worth Millions”
Antero Resources | Energy Companies | HG Energy | Industrywide Issues | M&A | West Virginia

Antero Closes on Buying HG Energy for $2.8B, Borrows $1.5B from RBC
February 4, 2026February 4, 2026

In December, MDN brought you the news that Antero Resources, the country’s fifth-largest natural gas producer and largest producer in West Virginia, had cut a deal to buy WV driller and midstreamer HG Energy II for a combined $3.9 billion, paying $2.8 billion for upstream and $1.1 billion for midstream (see Antero Resources Buys HG Energy II in Deal Worth $3.9 Billion). The deal will add a massive 385,000 net acres to Antero’s existing ~475,000 net core Marcellus acreage position, bringing with it another 850 MMcfe/d in production. The deal closed yesterday. HG Energy is no more. Read More “Antero Closes on Buying HG Energy for $2.8B, Borrows $1.5B from RBC”
AI | Beaver County | Electrical Generation | Industrywide Issues | Pennsylvania

$10B Data Center Coming to Former Bruce Mansfield Power Plant Site
February 4, 2026February 5, 2026

Last July, President Trump and PA U.S. Senator Dave McCormick attended a meeting in Pittsburgh to announce an amazing $92 billion of private (no taxpayer funding) investment in the Keystone State, mainly in the data center sector (see Pittsburgh Energy Event Truly Mind-Blowing, $92B+ Investments for PA). One of the projects announced at that meeting is the Shippingport Power Station, a $3.2 billion conversion of the former Bruce Mansfield coal power plant in Beaver County into a natural gas power station and data center site (see Frontier Group Converting Coal to Gas-Fired Plant, NatGas from EQT). We have more/new details about the gas-fired power plant and about a proposal for a new data center at the site. Read More “$10B Data Center Coming to Former Bruce Mansfield Power Plant Site”
AI | Electrical Generation | Energy Services | Industrywide Issues | Ohio | Williams | Wood County (OH)

Will-Power 3rd OH Facebook Gas-Fired Plant Begins Const. Any Time
February 4, 2026February 4, 2026

In December, MDN reported that pipeline giant Williams, through its new subsidiary, Will-Power, plans to build a third gas-fired power plant to power a Meta (Facebook) data center complex in Bowling Green, OH (see Will-Power to Build Third Facebook Gas-Fired Plant Near Toledo). The project will use 21 natural gas turbines, generators, and backup diesel generators for reliability. Will-Power aims to have 150 MW online by July 2027 and the full 350 MW by October 2027. Great news! The Ohio Power Siting Board (OPSB) has authorized the construction of the facility, which is likely to begin this week. Read More “Will-Power 3rd OH Facebook Gas-Fired Plant Begins Const. Any Time”
Energy Services | MarkWest Energy

MPLX Working on $450M Marcellus Gathering System Expansion
February 4, 2026February 4, 2026

In 2015, MPLX (i.e., Marathon Petroleum) bought out and merged in the Utica Shale’s premier midstream company, MarkWest Energy, for $15 billion (see MarkWest Energy Investors/Unitholders Approve Merger with Marathon). The “new” MarkWest, aka MPLX, now plays on a much larger stage, owning and operating major assets in the Permian Basin, the Bakken Shale, and the Marcellus/Utica. However, the M-U still plays a starring role for the company. MPLX recently issued its fourth quarter 2025 update. Based on 4Q earnings materials, MPLX’s operations in the Marcellus and Utica (Northeast) region are characterized by near-capacity utilization and significant ongoing infrastructure expansions. Read More “MPLX Working on $450M Marcellus Gathering System Expansion”
Ascent Resources | Energy Companies

Ascent Resources Appoints New CFO; Descent into a Maelstrom?
February 4, 2026February 4, 2026

Artist Harry Clarke’s 1919 illustration for Edgar Allen Poe’s “A Descent into the Maelström”

Two days ago, Ascent Resources, a privately held company focused 100% on the Ohio Utica Shale, announced the appointment of a new Chief Financial Officer (CFO). The news is somewhat interesting on its own. Top management can influence a company’s direction. However, when you understand the current context under which this appointment was made and the person selected, it becomes very interesting. The key context is that Ascent is currently in the middle of a bidding war to acquire it. Is the new CFO walking into a maelstrom? Or is she possibly there to guide the company through an acquisition? Read More “Ascent Resources Appoints New CFO; Descent into a Maelstrom?”
Best of the Rest

MDN’s Energy Stories of Interest: Wed, Feb 4, 2026
February 4, 2026February 4, 2026

MARCELLUS/UTICA REGION: Is Pennsylvania running out of electricity?; What PA’s battle over climate change can teach the nation; MSC statement on Gov. Shapiro’s budget proposal; OTHER U.S. REGIONS: Commonwealth LNG announces 20-year LNG supply agreement with Mercuria; NATIONAL: U.S. natural gas futures pick up after selloff; Google is spending big to build a lead in the AI energy race; How natural gas delivered during Winter Storm Fern; CO2 border tariff? Don’t even think about it, DOE!; INTERNATIONAL: Oil ends day higher after drone incident; USA flagged oil tanker harassed by Iranian ships in Hormuz; The looming LNG glut and what it means for global energy prices; Russia’s pipeline gas exports to Europe jump 10% in January on year. Read More “MDN’s Energy Stories of Interest: Wed, Feb 4, 2026”
Coterra Energy (Cabot O&G) | Devon Energy | Energy Companies | Industrywide Issues | M&A

Devon Energy Buying Coterra Energy for $21.4B in All-Stock Merger
February 3, 2026February 3, 2026

As rumored last week, Devon Energy and Coterra Energy are merging to create a shale drilling giant. The headlines say it’s a “$58 billion deal.” Beneath the headlines, you’ll learn that Devon is buying, Coterra is being acquired, and that Devon is paying (in stock only) $21.4 billion for Coterra Energy. The two companies combined into one will be worth (market capitalization) around $58 billion, which is where that headline number comes from. The merger is expected to take place in the second quarter of this year. The new company will keep the Devon Energy name. Coterra will be no more, just like Cabot Oil & Gas was no more after it merged with Cimarex Energy to form Coterra in October 2021 (see Cimarex Takes Over Cabot, Merged Co. Called “Coterra Energy”). Read More “Devon Energy Buying Coterra Energy for $21.4B in All-Stock Merger”
Commodity Price | Industrywide Issues | Weather

NYMEX Natural Gas Futures Price Suffers “Historic” Collapse of 26%
February 3, 2026February 3, 2026

Natural gas futures suffered a historic 26% collapse—the steepest one-day percentage drop since 1995 (over 30 years!)—as the most-active “front month” contract plunged over a dollar to close at $3.237/MMBtu. This dramatic retreat was fueled by forecasts of “well above normal” temperatures across the Eastern U.S. and a recovery in production following recent freeze-offs, both of which point toward a looming inventory buildup. Although analysts at NatGasWeather.com suggest the market may have overshot the actual data, the combination of a thawing climate and stabilizing supply clearly spooked investors enough to trigger this record-breaking slide. Read More “NYMEX Natural Gas Futures Price Suffers “Historic” Collapse of 26%”
Energy Services | Industrywide Issues | North Carolina | Pipelines | Regulation | Transco | Virginia | Williams

FERC Approves Williams Transco SESE Pipeline Project for VA, NC
February 3, 2026February 3, 2026

Two pipeline kingpins are engaged in a deathmatch with the Federal Energy Regulatory Commission (FERC) to get their competing pipeline projects approved. One is Williams’ Transco Southeast Supply Enhancement Project (SESE), the other is EQT’s MVP Southgate project (see Update on N.C. Pipe Deathmatch: Transco SESE vs. MVP Southgate). Both projects would be built in the same general area, starting near Chatham, Virginia, and ending near Eden, North Carolina. Both claim they have customers ready to take their gas. In a July 2025 FERC filing, Williams said that its project could easily handle Southgate MVP’s capacity by adding meter tubes and regulation at an existing station. EQT was not pleased with the attempt to undercut Southgate. However, MVP Southgate appeared to have the regulatory momentum when FERC approved a change in the project in December (see FERC Votes to Approve Change of MVP Southgate Route, Capacity). But now, the Williams SESE project has leapfrogged Southgate by garnering a final approval from FERC to build. Read More “FERC Approves Williams Transco SESE Pipeline Project for VA, NC”
Industrywide Issues | Regulation | Statewide WV | Taxation | West Virginia

WV Bill Lowers Shale Well Severance Tax from 5% to 3% for 2 Years
February 3, 2026February 3, 2026

West Virginia Senate Bill (SB) 706 proposes reducing the state’s severance tax from 5% to 3% for new natural gas and oil wells drilled after June 30, 2026, that meet specific production thresholds. This reduction applies only to future projects, leaving existing wells at current rates. While severance taxes provide vital but volatile revenue—ranging from $98 million to $588 million in recent years—this legislation seeks to adjust the fiscal landscape for one of the state’s most profitable resources. The bill is currently under review by the Senate Committee on Energy, Industry, and Mining and awaits further legislative approval. Read More “WV Bill Lowers Shale Well Severance Tax from 5% to 3% for 2 Years”