The State of Oil and Gas: August 15, 2026

Natural gas is $2.76/MMBtu, above the month’s low of $2.64, and well below the high of $2.93.

Drilling rigs are at 593, up quite a lot from last month’s 581.

Gas storage is at 3,169 Bcf, a little lower than last year’s 3,197 Bcf, but well above the five-year average of 2,984.

Here’s an article stating that the industry has gotten better at taking more gas out of each acre.

Natural gas markets and electric power markets are inextricably linked, even worldwide.

EQT has entered into an agreement with Competitive Power Ventures to provide gas to their new power plant in Doddridge County, WV.

EQT is also adding compressors to its gathering system. They say that this reduces pipeline pressures, allowing older well to continue producing for longer. The linked article also adds some detail about the agreement with Competitive Power Ventures.

And here is EQT’s 2Q26 Report.

And here’s an article tooting EQT’s horn.

Here’s Antero’s 2Q26 Report.

Here’s CNX’s 2Q26 Report.

Dominion is building an enormous gas-fired power plant at Mt. Storm, WV. They say it will provide electricity to the grid, but Mt. Storm is awfully close to Parsons, where they’re hoping to build an enormous data center. My guess is that at least some of that electricity will end up there.

AEP Ohio has bought the Maidsville, WV coal plant and bought an existing permit to build 1.2 gigawatts of natural gas power at that same location.

Here is Diversified’s 2Q26 Report.

Here is MPLX’s 2Q26 Report. MPLX is a pipeline and processing company.

Permitting reform isn’t dead, it’s just in negotiation limbo.

Andrew Topf over at Oilprice.com discusses five LNG projects he thinks will be a big part of the next gas boom.

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