The State of Oil and Gas: June 15, 2026

Natural gas is at $3.06/MMBtu, up from $2.89/MMBtu, but down from a high in the last month of $3.34/MMBtu.

Gas storage is at 2,686 Bcf, slightly under last year’s 2,691 Bcf, but still above the five-year average of 2,535 Bcf.

Drilling rigs are at 562, up considerably from last month’s 551.

Dominion Energy is going to merge with NextEra Energy.

MPLX’s 1Q26 Earnings Call shows that new infrastructure is needed in West Virginia. Much of the infrastructure is running close to capacity, at 94%. Interestingly, one slide shows 2027 “Marcellus Gathering Expansion”. Expansion has to mean pipelines, though a gathering system will be all inside the state.

Reliability is becoming more important to the worldwide LNG market, and the U.S. is the most reliable source.

The Trump Administration has extended the Jones Act waiver for another 90 days.

TechCrunch has an article that says that solar will become the dominant form of energy worldwide in the next decade (so by 2035). I have nothing against solar, but it feels like this kind of article pops up pretty regularly, and the predictions made in them have never been right.

Here’s some EIA data on new natural gas pipelines in the U.S. Most of them are in Texas, and none of them are in West Virginia.

The Appalachian Basin is the United States’ natural gas foundation.

We haven’t had a reason to talk about DUCs (Drilled but UnCompleted wells) in a while, but they’re in the news again. The number of DUCs is down due to high prices and high demand, but producers are expecting to start drilling more of them soon.

The necessity of behind-the-meter power generation is one reason why data centers are looking to locate to West Virginia.

The West Virginia Supreme Court ruled that the State’s environmental protection laws which direct where a well pad can be located do not supersede the City of Weirton’s authority (which is also based in State law) to control land use within its borders.

Our natural gas storage capacity went up just a little tiny bit (0.01%) in 2025.

Here’s an interview with a U.S. Senator who was previously the CEO of Williams Co. in which he explains why it’s so hard to build a natural gas pipeline in the U.S. these days.

Oil prices have gone down to April levels based on the Trump Administration’s statement that there won’t be any new attacks and that a peace deal is (again) imminent. You’ll see lower oil prices reflected at the pump soon.

Here’s some detailed analysis of what the re-opening of the Straight of Hormuz is going to mean for the oil and gas world. It’s surprisingly interesting.

Here’s an article that explains how AI is being used in the oil and gas industry.