Mercer Capital’s Value Focus: Exploration & Production newsletter provides an overview of the industry through supply and demand analysis, commodity pricing, and public market performance.

In addition, each issue of this quarterly newsletter focuses on a region, including Eagle Ford, Permian, Appalachia, and Haynesville, examining general economic and industry trends. In this quarter’s issue, we focus on the Appalachian basin.

Appalachian production declined over the last twelve months due to reduced drilling activity, driven by low natural gas prices and high storage inventory. Consequently, Appalachian E&P stocks generally saw year-over-year price drops across the board.

Despite recent setbacks, there is optimism for 2025. EQT CFO Jeremy Knop mentioned that the Mountain Valley Pipeline (MVP) ramp-up should support Appalachian differentials. EQT also regained ownership of Equitrans Midstream Corp., operator of MVP’s 2 Bcf/d pipeline, key for future gas demand. Additionally, VettaFi Research highlighted that MVP’s start-up is easing takeaway constraints. Meanwhile, EOG Resources is making promising oil discoveries in Ohio’s Utica shale, with results competitive to the Permian basin.

Exploration & Production Newsletter

Region Focus: Appalachian

Also in the newsletter:

• Oil and Gas Commodity Price Update
• Macro Update
• Industry M&A Activity
• Public Company Performance
• Production Update
• Rig Counts

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