Ascent Resources Appoints New CFO; Descent into a Maelstrom?
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?”
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. 
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 
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. 
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 
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. 
Pipeline giant Williams is going on a PR offensive to pressure New York State to approve the 125-mile (99 miles in NY) Constitution Pipeline from the prolific gas fields of Susquehanna County, PA, into and through New York State, to Schoharie County, where it would connect with two other interstate pipeline systems to flow molecules to New York City and New England. On its blog site, Williams recently published a post titled “Winter storms underscore why infrastructure is needed,” with the subtitle “Severe cold underscores need for Constitution Pipeline.” 
The Marcellus/Utica rig count gained 1 rig eight weeks ago in the Ohio Utica, bringing the regional total to 39 rigs. The combined number of 39 remained the same last week, however, there was an important change. The Pennsylvania Marcellus picked up one rig last week, while the Ohio Utica lost a rig. PA is now operating 19 rigs, OH is operating 13 rigs, and WV maintains its 7 rigs, which it has operated since May of last year. There were 25 rigs targeting the Marcellus and 14 targeting the Utica last week. The national count gained 2 rigs last week, bringing the national total to 546 active rigs. 
Last week, CNX Resources issued its fourth quarter 2025 update. In 3Q25, the company did not drill, frack, or complete any new wells (see 
The CEO of French company DataOne recently held a town hall in Vineland, New Jersey, regarding a 2.4 million-square-foot AI data center currently under construction. Residents expressed frustration over being consulted only after the project was nearly finished, citing concerns about noise, transparency, and environmental impact. The CEO defended the facility, claiming its “breakthrough” technology ensures near-zero emissions for its gas-fired power and zero water consumption while protecting local utility rates. Despite promises of private funding and a community vertical farm, skepticism persists. 
Last September, MDN told you that two major Kinder Morgan pipeline projects that will flow Marcellus/Utica molecules in the southeastern U.S. took a big step forward at the Federal Energy Regulatory Commission (FERC) with FERC actively working on an environmental impact statement (EIS) for both projects (see 
About six years ago, Dominion Energy announced the River Neck to Kingsburg project, a short 15-mile 16-inch natural gas transmission main line that would run in an existing right-of-way alongside another pipeline along Old River Road near Pamplico in Florence County, SC. It was supposed to be built and flowing in 2022. Dominion still hasn’t built a square inch, thanks to the lawfare launched by the anti-fossil fuelers of the Blue Ridge Environmental Defense League (see 
Glenfarne’s Texas LNG facility in Brownsville, Texas, will have a capacity of 4 MTPA. EQT Corporation, the largest natural gas producer in the Marcellus/Utica, signed two agreements with Glenfarne to liquefy 2.0 million tons per annum (MTPA) of EQT-extracted shale gas at the facility when it’s built (see