Russia Targets U.S. & Western LNG Plants with Computer Malware
Last Wednesday four federal government agencies, including the Department of Energy (DOE), the Cybersecurity and Infrastructure Security Agency (CISA), the National Security Agency (NSA), and the Federal Bureau of Investigation (FBI), issued a joint Cybersecurity Advisory (CSA) bulletin to warn about the discovery of a highly sophisticated and effective system to attack industrial facilities. The computer malware, called Pipedream, includes the ability to cause explosions at plants, specifically including (targeted at) LNG facilities. While the four agencies don’t finger a likely suspect for creating and propagating the malware, private security experts say it likely came from Russia.
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The leftists who have taken over the International Energy Agency (IEA) told the world last year that new oil and gas exploration should immediately stop worldwide in order to save Planet Earth from Global Warming monsters (see 
Last week Pennsylvania issued 12 new shale well permits, down three from the prior week. Coterra Energy (formerly Cabot Oil & Gas) had the most permits with four, all on the same pad in Susquehanna County. Southwestern had three permits all on the same pad in Susquehanna County. Chesapeake Energy also had a permit in Susquehanna County, making that county the top spot for new permits with eight last week. Ohio had no new shale permits issued last week. Bummer. West Virginia had just two permits, one for Southwestern Energy in Ohio County, and one for Antero Resources in Tyler County.
MARCELLUS/UTICA REGION: Chesapeake-Chief deal one of Q1’s biggest shale deals; Ohio agrees – make more clean, affordable energy here at home; NATIONAL: Oil falls with concerns of economic slowdown; Joe Biden’s energy policies will prolong the current crisis, oil and gas executive says; INTERNATIONAL: JPMorgan sees risk of $185 oil.
New modern era records continue to be broken. The Henry Hub “front month” NYMEX futures price for natural gas briefly traded over $8/MMBtu yesterday before closing at $7.82/MMBtu (up $0.52 for the day). It certainly looks as if soon, possibly today, the NYMEX price will fly by and close at a price higher than $8/MMBtu. The rapid rise in price, now closing in on the highest in 14 years, is really quite breathtaking. However, some analysts are warning of a correction.
In a court case that stretches back to 2019, Antero Resources, the biggest driller in West Virginia, challenged how its wells had been valued for tax purposes in Doddridge and Richie counties for 2016 and 2017. Antero said the combined value of its wells for those years should have been $1.488 billion. The state tax commissioner reckoned the value to be $1.513 billion. The controversy of well valuations not only for Antero but other drillers led to a reworking of how the state law values shale wells (see 
Spire STL is a 65-mile pipeline that connects to and flows Marcellus/Utica gas from the Rockies Express (REX) pipeline to residents and businesses in the St. Louis, MO area. The pipeline began flowing gas in late 2019 (see 
It appears the venerable number crunchers at the U.S. Energy Information Administration (EIA) bungled the monthly estimates they forecast quite badly in March, making a revision to the numbers for both the Marcellus/Utica and all seven tracked shale plays in yesterday’s April monthly Drilling Productivity Report. Last month EIA forecasted the M-U would produce 36.848 Bcf/d (billion cubic feet per day) of natural gas in April (see 
In the end, we didn’t think they would actually do it–but they did. The province of Quebec, Canada, with a huge supply of Utica Shale gas sitting beneath it, has just passed a new law outlawing all oil and natural gas production throughout the province. It is a breathtaking grab of totalitarian power. It’s also energy suicide. Quebec says it will pay a piddly $79.5 million (US) to expropriate the oil and gas drilling rights of companies owning those rights in the province. We’ve seen estimates that those rights are worth more than $5 billion. Questerre Energy, which owns more than 1 million acres of leases and an estimated 6 Tcf of Utica Shale reserves in the province, is considering its next legal move.
The Enverus rig count, as of last Wednesday, stood at 791, even with the same number from the week before. We are still near the highest number of rigs in operation since March 2020, the dawn of the pandemic. We are only 47 rigs away from the pre-pandemic high of 838 rigs. Last week the Marcellus had 41 rigs operating (same as the prior week), while the Utica operated 11 rigs (dropping two rigs), for a total of 52 active rigs in the M-U. Our chief rival, the Louisiana and Texas Haynesville, operated 69 rigs last week, dropping three rigs from the week before.
Last September MDN broke the news that Rockdale Marcellus had filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court for the Western District of Pennsylvania (see 
One of the hottest of the hot sectors in which to invest (right now) is shale energy. That’s according to multiple sources, including a veteran finance writer, investor, engineer, and researcher. In an article appearing on the OilPrice.com website, Alex Kimani talks up mid-cap energy stocks as outperforming the supermajors. Among two of Kimani’s top three picks are two Marcellus/Utica drillers, who are having a stellar year in stock performance. We went looking for the stock performance of other M-U drillers too. We have a list to share showing just how much each driller’s share price has increased this year.