Devon and Coterra Complete Merger, Launches $8B Buyback Program
In February, 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). On Monday of this week, shareholders from both companies voted overwhelmingly to approve the merger, the last remaining hurdle (see Devon and Coterra Shareholders Approve Merger; Happening May 7). Yesterday, the deed was done. Immediately after the merger was official, the new board of directors approved a plan to spend $8 billion by June 2029 to repurchase (buy back) shares of stock. Read More “Devon and Coterra Complete Merger, Launches $8B Buyback Program”
You have to hand it to Dominion Energy, the company has brass… courage. In June 2023, Dominion announced plans to build four small “peaker” electric generating plants in Chesterfield County near Richmond (see 
Kinder Morgan’s Elba Island LNG, which accepts and liquefies Marcellus/Utica molecules just offshore from Savannah, Georgia, received approval from the Federal Energy Regulatory Commission (FERC) in November 2024 to expand the facility to produce an extra 0.4 million metric tons/year (see 
MARCELLUS/UTICA REGION: Team Pennsylvania outlines commonwealth goals for renewed nuclear era; McCormick hails Shippingport power plant conversion; PJM board names David E. Mills as PJM President and CEO; OTHER U.S. REGIONS: Rockefeller Fund bankrolls MD Gov. Moore’s ‘climate study’; NATIONAL: U.S. natural gas rises on below-estimate storage build; Sen. Cotton bill names FERC as sole lead agency for pipelines; A growing grid needs market discipline – 5 principles for transmission policy; INTERNATIONAL: Oil swings on Iran deal doubts; US, Iran engage in fresh clashes near Hormuz; IEA says Middle East conflict altering medium-term gas outlook; EU purchases from Russia’s largest natural gas field hit record £3bn; Big Oil resists push to prioritize output growth. 
In April, MDN reported that anti-fossil fuel fanatics had not yet given up on trying to block construction of the Williams Northeast Supply Enhancement (NESE) pipeline, a $1 billion+ project designed to increase Transco pipeline capacity and flows of Marcellus gas heading into New York City and other northeastern markets. Even though there was an official groundbreaking ceremony at Brooklyn’s Floyd Bennett Field in New York City in April, antis are still doing their best to block this project. They pinned one of their last hopes on a relatively obscure state agency in New Jersey, pressuring it to refuse to issue a license for the project (see 
UGI Corporation’s UGI Energy Services and Prime Data Centers yesterday announced a strategic partnership to develop natural gas supply infrastructure in Pennsylvania’s northern tier for a proposed gas-fired power facility serving future hyperscale data center operations. Under the deal, UGIES will sell Prime some of its property while retaining about 15 billion cubic feet (Bcf) of underground storage capacity and related oil and gas rights. Prime’s gas demand is expected to exceed 100,000 dekatherms per day (100 MMcf/d) within three to five years. A major new customer for PA Marcellus gas! 
New research by the Commonwealth Foundation finds that Pennsylvania’s foolish pursuit of joining the Regional Greenhouse Gas Initiative (RGGI), a carbon tax scheme, led to a loss of $5 to $8 billion in energy sector investment over six years, stalling power projects and reducing electricity generation capacity. The state’s attempt to join RGGI, initiated by executive order under then-Governor Tom Wolf, was ultimately overturned by the courts and (eventually) by legislative action, citing it as an unconstitutional tax. Meanwhile, neighboring Ohio, not part of RGGI, saw an increase in energy projects, highlighting the differing regulatory environments. 
The European Union’s idiotic methane regulations begin in earnest next year. Domestic (European) oil, gas, and coal companies must monitor, measure, and report their emissions. The same restrictions will apply to energy imports from other countries, including imports from the U.S. (see 
DT Midstream (DTM) is an owner, operator, and developer of natural gas interstate and intrastate pipelines, storage and gathering systems, compression, treatment, and surface facilities, including major assets that are in (or flow molecules from) the Marcellus/Utica. Last week, the company issued its first quarter 2026 update. CEO David Slater announced two new projects to expand pipelines that carry Marcellus/Utica molecules. He also announced a project to build a new lateral to an Indiana power plant and a new interconnect that flows more M-U molecules into the NEXUS pipeline. Great things are happening at DTM!