Facts & Rumors # 591
March 29, 2025
Energy Demand Up in 2024. Faster than Average. Renewables and natural gas surge ahead of oil and coal. Reuters. There is something positive for every type of energy in the International Energy Agency’s latest global review, but the loudest cheers will be from renewables and natural gas. The world’s energy demand grew at 2.2% in 2024, a pace described as “faster than average” by the IEA in its Global Energy Review, released on Monday. The acceleration was led by emerging and developing economies, which accounted for more than 80% of the growth, while the leading sector was electricity, which grew by 4.3% in 2024, or nearly double the annual average of the past decade.
Big Challenge – Refill NatGas Storage for Next Winter. U.S. faces uphill task to refill natural gas storage for next winter. Wall Street Journal. The U.S. is ending winter with low natural gas storage levels that could lead to soaring prices by year-end if production doesn’t increase to meet rising demand. During the months of April through October, the U.S. stashes natural gas underground to be used during the following winter when heating demand for homes and businesses lifts consumption.
TX Tops 2 Billion Barrels. Texas tops 2 billion barrels of oil for the first time. MRT. For the first time in its storied history, the Texas oil and gas industry produced over 2 billion barrels. The Railroad Commission reports Texas oil production reached 2,003,844,281 barrels in 2024 while natural gas production reached 12.62 trillion cubic feet. “The oil and natural gas industry has continued to embrace new technologies that have delivered amazing results,” Todd Staples, president of the Texas Oil & Gas Association, told the Reporter-Telegram in response to the report.
Is the Permian Running out of ‘Juice?’ U.S. oil producers face new challenges as top oilfield flags. Reuters. U.S. oil producers are grappling with geological limits to production growth as the country’s top oilfield ages and produces more water and gas and less oil – and may be nearing peak output. The Permian basin was the centerpiece of the shale revolution that began nearly two decades ago and spurred the U.S. to become the world’s top oil producer, stealing market share from the Organization of the Petroleum Exporting Countries (OPEC) and other top producers.
‘More Pipelines Coming,’ Toby Rice. CEO Of Appalachian gas producer says more pipelines are coming. West Virginia Public. The CEO of Appalachia’s biggest natural gas producer says more pipelines are coming as data centers expand and coal plants retire. EQT chief Toby Rice took part in a presentation by natural gas industry leaders at the state Capitol Wednesday, briefly joined by Gov. Patrick Morrisey. Morrisey wants to expand microgrids in the state to power data centers and is pushing the legislature to enact House Bill 2014 to do that. It was one of the priorities he laid out in his first State of the State address. Rice said that would mean building more pipelines.
Army to Fast-Track Permits. Army Corps drafts plan to fast-track energy permits. E&E News. The Army Corps of Engineers is developing a process to quickly approve fossil fuel projects in response to President Donald Trump’s declaration of an “energy emergency,” according to a draft policy viewed by POLITICO’s E&E News. The vapor permitting oil pipelines, natural gas terminals, coal mines and other energy projects. The policy was obtained by the Environmental Integrity Project, an advocacy group.
MVP Going After Protesters. Mountain Valley Pipeline advances most claims against protesters. The case has moved to federal court which will help MVP.
Antero Continues NatGas Production Lead in WV. Antero Resources continues to lead natural gas production in West Virginia. WV News. Antero Resources has served as a leader in natural gas production in West Virginia for over two decades, and the company shows no signs of slowing down. Looking forward, the company plans to continue their current operations schedule, Baston said. This schedule sees Antero bring over 60 wells online annually, Baston said. Through technical innovations, the company has continued to improve their projects, Baston said.
Infinity Budget $240 to $280 million for the Marcellus. Infinity’s capital budget for 2025 is $240 million to $280 million related to D&C activities, along with $9 million to $12 million of midstream capital expenditures. Net production is expected to be between 32 and 35 MBoe/d for 2025. Infinity expects to operate one rig for 2025, other than a single 4-well initial pad development in the dry gas Marcellus Shale for which Infinity will use a second rig.
U.S. Oil Inventories Up. U.S. crude oil inventories rise week on week. Rigzone. U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), increased by 1.7 million barrels from the week ending March 7 to the week ending March 14, the U.S. Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report. That report was released on March 19 and included data for the week ending March 14.
U.S LNG Still #1. U.S. retains LNG export crown as tariff questions loom. E&E News. The United States held onto its crown in 2024 as the world’s top exporter of liquefied natural gas, while Chinese imports of U.S. LNG ground to halt in the first month of this year. U.S. exporters shipped 11.9 billion cubic feet per day (bcf/d) of LNG overseas last year, roughly the same amount as in 2023, the U.S. Energy Information Administration said in a report issued Thursday.
Court Decision Lets Big LNG Project Proceed. Odessa American. A Washington court’s OK for the NextDecade Co. to proceed with the construction of its $18.4-billion Rio Grande Liquefied Natural Gas Export Terminal at Brownsville bodes well for the entire American LNG industry, which had hit a roadblock with the Biden administration’s year-long ban of new terminals till it was rescinded. TXOGA President Todd Staples said the world is literally at the doorstep of Texas in energy need and Texans are responding despite manmade roadblocks. TIPRO President Ed Longanecker said the recent court ruling provides greater clarity and stability for NextDecade’s Rio Grande LNG project and supports the broader LNG industry’s continued buildout. “This decision helps alleviate some of the uncertainties that previously surrounded the project, particularly regarding environmental and legal challenges,” Longanecker said.
Williams Strengthens Need for NatGas to Power Data Centers
When Williams CEO Alan Armstrong said in a recent interview that the New England states were losing out in the race for data centers, it was largely because of their past opposition to natural gas.
Natural gas-powered generators are running more and more data centers as they are being built throughout the rest of the country. Just not in the northeast.
In a recent Williams newsletter, the company repeated the claims of Armstrong.
The following is the Williams newsletter article:
As demand for AI-driven data hubs grows, so does the need for a reliable and scalable energy supply.
Electricity demand is experiencing 10 times faster growth per year this decade than what we’ve seen in previous decades. Partner that with projections that U.S. data center power demand will more than double by 2030, and this surge necessitates a dependable energy source.
That source is natural gas.
And with its expansive network of pipelines and ability to provide behind-the-meter power generation, Williams is uniquely positioned to meet this need and drive the future of energy infrastructure.
Why Natural Gas?
Natural gas is readily available and easily dispatchable. It’s affordable, abundant and a reliable partner with renewable energy.
Consider this:
Natural gas is already the largest source of electric power generation in the United States and has been directly responsible for reducing 500 MM tons of CO2 in the power sector from 2005 to 2022 because of the switch from coal to gas-fired power plants.
Natural gas capacity is a quickly dispatchable partner and backstop to renewables during periods of unavailability and peak demand. In fact, natural gas power generation performs 2.5x higher compared to solar, based on EIA data.
Natural gas has 45 percent less carbon dioxide emissions than coal.
Why Williams?
Williams is ideally positioned to serve evolving data center needs with a unique integrated solution.
Our ability to combine our gas marketing, gathering, transportation and power generation verticals into one solution allows us to react very quickly to new power loads, providing the speed-to-market that data centers need.
PA March 17, to March 27, 2025
County Township E&P Companies
1. Butler Jackson PennEnergy
2. Butler Jackson PennEnergy
3. Butler Jackson PennEnergy
4. Butler Jackson PennEnergy
5. Butler Jackson PennEnergy
6. Butler Jackson PennEnergy
7. Butler Jackson PennEnergy
8. Butler Jackson PennEnergy
9. Butler Jackson PennEnergy
10. Butler Jackson PennEnergy
11. Butler Jackson PennEnergy
12. Lycoming Plunkett’s Creek PA Gen Energy
13. Lycoming Plunkett’s Creek PA Gen Energy
14. Lycoming Plunkett’s Creek PA Gen Energy
15. Lycoming Plunkett’s Creek PA Gen Energy
16. Washington Mount Pleasant Range
OH March 16, to March 23, 2025
County Township E&P Companies
1. Harrison Freeport EOG
2. Harrison Freeport EOG
3. Harrison Freeport EOG
4. Harrison Short Creek Ascent
5. Harrison Short Creek Ascent
WV March 17 to March 21, 2025
1. Monongalia CNX
