Cash NatGas Price Goes Crazy in Oklahoma – Over $600/MMBtu!
Supply and demand, that’s what it’s all about in a pure commodity market like natural gas. Supply and demand just about came off the rails last Friday in Oklahoma as the price of natural gas selling along Oneok Gas Transmission’s (OGT) 23 interstate and 20 intrastate pipeline connections entered the stratosphere. At one point the cash price for natgas in OK was fetching $600/MMBtu! No, this is not a joke. That’s the highest price paid for natgas…ever.
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Danger, Will Robinson! One of the leading lights in the Pennsylvania legislature against Democrat Gov. Tom Wolf’s idiotic (and dangerous) carbon tax plan, called RGGI (Regional Greenhouse Gas Initiative), has been Republican House Rep. Jim Struzzi (from Indiana County). Struzzi sponsored House Bill (HB) 2025 last year giving PA residents a say in whether or not the state should join RGGI (see 
The so-called peak oil theorists have been positively giddy with excitement over predictions about the death of oil. “Just look at how much oil production demand AND supply has decreased since the outbreak of the pandemic. It’s NEVER coming back!” Those are the kinds of things the peakers tell themselves and anyone else who will listen. Mainstream media laps it up and repeats it. But when real researchers delve into the topic of whether or not oil has reached its zenith, the facts tell a far different story.
MARCELLUS/UTICA REGION: US gas midstream sale weighs down Dominion Energy 2020 results; OTHER U.S. REGIONS: Black Hills CEO says ‘lethal’ if natural gas bans enacted in service territories; NATIONAL: Helmerich & Payne: clear signs of a turnaround; Is the anti-oil movement installing the next recession?; INTERNATIONAL: Oil prices hit critical threshold for OPEC+.
Believe it or not, today is a New York Stock Exchange holiday (i.e. bank) holiday. MDN rarely takes a day off, so we tend to track with those holidays observed by the NYSE. Have no fear, we are monitoring the news and if anything earth-shattering happens, we’ll bring you the latest. Otherwise, look for full-strength MDN to return tomorrow. In the meantime, we have updated the 
For the past week or so we’ve spotted stories in the Democrat press (i.e. mainstream news) about a so-called “research report” issued by a front organization for the Heinz Endowments called the Ohio River Valley Institute (ORVI). The ORVI recently released a report that purports to show the fracking miracle in the Marcellus/Utica hasn’t actually created all that many jobs or economic benefits. Here’s the first tip this report is a scam and a sham: The lead researcher from the so-called ORVI doesn’t live in the Ohio River Valley nor anywhere near the M-U, he’s a playwright who lives thousands of miles away on the Left Coast, in Washington State. In other words, the report is fiction.
Food & Water Watch, the virulent, leftist anti-fossil fuel group, will get its day in court today in the organization’s bid to block a tiny 2.1-mile pipeline looping project in western Massachusetts. But lest you think the lawsuit being argued today before the liberal D.C. Circuit Court of Appeals is just about a small pipe project in liberal Massachusetts, think again. FWW is attempting to use this case to shut down all future pipeline projects too. Is the fix in with this case?
Yesterday we told you that natural gas spot (i.e. cash) prices at various pipeline trading hubs had hit fresh, one-year highs, including here in the Marcellus/Utica (see 
Over the past several weeks the Enverus U.S. rig count had rocketed skyward, making gains of more than a dozen rigs added each week. Over the past week that torrid pace slowed. In the past seven days, the active rig count added just one new rig to the national total. The Marcellus lost two rigs, one each in the dry gas northeast and wet gas southwest. The Utica gained one rig, for a net loss of -1 in the M-U region (now at 42 active rigs).
The Pennsylvania Dept. of Environmental Protection (DEP) is once again spinning an error by a major Marcellus driller, Range Resources, as some sort of evil plot to avoid and defraud the DEP. Due to a mistake by a former employee, Range misclassified 42 old conventional wells on acreage it owns and did not plug the wells in a timely (for DEP) fashion. The DEP has just clipped the company $294,000 for the mistake.