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M-U Drillers Collectively Increasing Production by 1 Bcf/d in 2025
Most, but not all, of the publicly traded shale drillers operating in the Marcellus/Utica region have now issued their second quarter 2025 updates. There’s a common thread (that we previously missed) running through all of them: Production is increasing in the M-U. Of all the announced additions so far, if you add them all up, it’s around 1 Bcf/d (billion cubic feet per day) of extra production. But wait! Our region is pipeline-constrained (we’re maxing out what we can flow already). So, how can drillers produce even more? Read More “M-U Drillers Collectively Increasing Production by 1 Bcf/d in 2025”
As we mentioned in two different posts today (about the 2Q updates from Coterra and Williams), the Constitution Pipeline project is currently not a top priority for Williams. In fact, Williams’ management didn’t even mention the project during their update. Coterra management did mention it as one of the “top-of-mind” projects for them, but acknowledged that another project, the Northeast Supply Enhancement (NESE) pipeline project, is currently the focus for Williams. Coterra and Williams *might* want to talk to President Trump, because the Constitution project is a big, fat priority for him. Yesterday, Trump’s EPA Administrator, Lee Zeldin, published a major “we need the Constitution Pipeline and we need it now” op-ed in the Boston Globe. 
Two days ago, MDN brought you the news confirming that Shell is looking to sell all or part of its Beaver County, PA, ethane cracker plant operation (see 
Leatherstocking Gas Company, a subsidiary of Corning Energy Corporation, runs gas mains to residents and businesses in small, mainly rural communities in northeastern Pennsylvania (see 
MARCELLUS/UTICA REGION: Pa. and other states scramble to complete renewable energy projects before tax credits expire; Business, education leaders agree – natgas is key to unlocking AI opportunities; OTHER U.S. REGIONS: Draft NYS energy plan pathways scenario scam; NATIONAL: Forecasts remind it’s still summer, and natural gas futures respond with gains; Natural gas continues to look for a reason to bounce; Science isn’t enough…only spiritual transformation can save the environment; President’s EPA rollbacks jeopardize our warming planet and its wary people; U.S. electricity peak demand set new records twice in July; U.S. petchem margins are coming back; U.S. LNG feedgas demand could be heading higher this year; INTERNATIONAL: Oil sinks as Russia mulls truce deal; Aramco profit falls for 10th straight quarter; UN reports misrepresent cost of wind and solar power; UN chief says fossil fuels are on the way out—are they? 
Yesterday, the “front month” contract (for September) for the NYMEX futures natural gas price crashed down 15.1 cents to close at $2.932/MMBtu. Bummer. The $3 level is an important psychological barrier, and we just violated it. The questions, as always, are (1) why did the price go lower (what’s rattling around inside the heads of traders); and (2) where is the price likely to go next? We aim to try to answer those questions in this post. 
Last November, three of five supervisors in Cecil Township (Washington County), PA, voted to ban all new fracking in the town via a new setback (distance from well to nearest structure) requirement of 2,500 feet (see 
Yesterday, MDN brought you a review and summary of National Fuel Gas Company’s (NFG) latest quarterly update (see 
In December 2022, Louisville Gas and Electric Company (LG&E) and Kentucky Utilities Company (KU), both subsidiaries of PPL Corporation, announced a plan to replace 1,500 megawatts of aging coal-fired generation (nearly one-third of Kentucky’s coal fleet) with two 645-MW natural gas combined-cycle units along with several unreliable, intermittent solar projects (see 
Venture Global’s Calcasieu Pass (CP) LNG export facility in Louisiana began operations in March 2022 (see 
Last week, the Baker Hughes U.S. rig count continued its downward trend, losing another two rigs to end at 540 active rigs nationwide. The count has been down 13 of the last 14 weeks, with the only slight increase happening three weeks ago. The Marcellus/Utica count remained the same (after gaining one rig two weeks ago) at a combined 36 active rigs. PA is running 18 active rigs. OH is running 11 rigs. And WV is operating 7 rigs. 
National Fuel Gas Company (NFG), headquartered in Buffalo, NY, is the parent company for Marcellus/Utica driller Seneca Resources and the parent of midstream company NFG Midstream (and subsidiary Empire Pipeline). Last week, NFG issued its latest quarterly update, which is the company’s fiscal 3rd quarter (but everyone else’s 2nd quarter). The update was loaded with good news for Seneca and NFG’s midstream sector. We learned that the company has been retained to build a 7-mile pipeline expansion off the company’s Line N system in Western PA, called the Shippingport Lateral Project, to feed natural gas to the Shippingport Power Station, announced in July (see 
Back in March, the Wall Street Journal reported that Shell is “exploring a potential sale of its chemicals assets in Europe and the U.S.,” which includes the recently completed Monaca (Beaver County, PA) ethane cracker complex (see