Alternatives
shutterstock_2364977019.jpg

October 1, 2022

E&P Fourth Quarter 2022

Appalachian Basin

Executive Summary

Production in the Marcellus & Utica held steady in 2022 despite historically high commodity price volatility driven by the Russian-Ukraine war, the sabotage of the Nord Stream pipelines, and rising LNG exports to Europe to stave-off potential winter heating shortages.  The Q4 Appalachian rig count is at a level beyond that needed for production volume maintenance, so there would seem to be at least some potential for Henry Hub price reductions going into 2023.  However, the demand for new natural gas supplies to Europe provides a countervailing wind to any potential downward movement in natural gas prices.  In the end, the natural gas markets seem to be in the midst of a series of events that promise continued supply and demand shifts with no certainty as to where the market will go in 2023.

Download the full newsletter

Download
Download the newsletter

Continue Reading

The Emerging Nexus of Data Centers, Excess Natural Gas, and Produced Water - Part I
The Emerging Nexus of Data Centers, Excess Natural Gas, and Produced Water: Part I
The intersection of growing data center power demand and abundant associated natural gas presents a strategic opportunity to align energy supply with digital infrastructure. Co-located generation models may enhance efficiency while supporting more stable, infrastructure-like valuation outcomes.
Mineral Aggregator Valuation Multiples Study Released-Data as of 03-10-2026
Mineral Aggregator Valuation Multiples Study Released

With Market Data as of March 10, 2026

Mercer Capital has thoughtfully analyzed the corporate and capital structures of the publicly traded mineral aggregators to derive meaningful indications of enterprise value. We have also calculated valuation multiples based on a variety of metrics, including distributions and reserves, as well as earnings and production on both a historical and forward-looking basis.
Themes from the Q4 2025 Energy Earnings Calls
Themes from the Q4 2025 Energy Earnings Calls
Fourth quarter 2025 earnings calls suggest an industry preparing for a transitional 2026, emphasizing organic inventory expansion, structural natural gas demand growth, and tightening service market fundamentals. Management teams appear focused less on short-term volatility and more on positioning for the next upcycle.

Cart

Your cart is empty