Utica Shale

EQT Corp. said it would continue cutting 1 Bcf/d of production as U.S. natural gas prices remain near four-year lows, but management anticipates strong power generation demand in the coming years that has it planning an expansion of the Mountain Valley Pipeline (MVP). After a seven-year battle and a congressional mandate rescued the system from…

PJM Interconnection, the largest U.S. regional transmission organization (RTO), recorded all-time lows for various greenhouse gas emissions last year while natural gas-fired generation continued to grow as the Mid-Atlantic region’s primary power source.  PJM, the RTO managing the electric grid for 13 Mid-Atlantic states and Washington, DC, said carbon dioxide (CO2) emissions in 2023 tumbled…

EQT Corp., the No. 1 natural gas producer in the United States, isn’t resting on its laurels. The gas giant is continuing to eye a potential East Coast LNG project, but it’s venturing into the artificial intelligence (AI) market, to gain a slice of the data center power market. Executive Vice President Rob Wingo, who…

Oklahoma City-based Gulfport Energy Corp., 92% weighted to natural gas, plans to remain nimble this year to ensure it may “defer or accelerate” activity depending on the direction of prices. Speaking to analysts during the recent fourth quarter conference call, CEO John Reinhart said the “volatile natural gas environment reinforces the importance of developing our…

Despite crashing prices, executives at EQT Corp. said the U.S. natural gas market is not as oversupplied as most think, suggesting the stage is being set for a rebound.  Henry Hub has traded below $2/MMBtu for seven straight sessions. The contract hasn’t been this low since June 2020 during the Covid-19 pandemic. NGI’s Weekly Spot…

Mountain Valley Pipeline LLC (MVP) is conducting an open season for natural gas deliveries along its revamped Southgate extension planned for 550,000 Dth/d capacity. The non-binding open season runs through Friday (Feb. 16) and is for firm transportation service in Rockingham County, NC. MVP said it is targeting an in-service date of mid-2028. After years…

MPLX LP management said its 2024 growth outlook is anchored in the Permian Basin and Marcellus Shale, which provide steady sources of opportunities, particularly around natural gas and natural gas liquids (NGL) assets. It also sees potential in the Utica Shale. “We plan to continue growing these operations through organic projects, investment in our Permian…

Drilling permits in the natural gas-rich Marcellus, Utica and Haynesville shale plays showed strong month/month growth in December 2023 but remained 16% below the December 2022 total, according to the latest tally by Evercore ISI. The three formations, which together supply about 53% of Lower 48 gas output, had a combined issued permit count of…

CNX Resources Corp. expects efficiencies and new wells in the Appalachian Basin to help lower costs and maintain natural gas output in the years ahead as it explores alternative fuels.  CNX, the first Lower 48 exploration and production (E&P) company to report fourth quarter earnings, said strong execution of last year’s program, along with more…