Measured Depth
Amber McCullaghA Substack providing independent, data-driven analysis of North American natural gas markets
| Platform |  | Pricing | Freemium | Publishes | Weekly |
|---|---|---|---|---|---|
| Issues | 35 | Founded | a year ago | Last Issue | 7 days ago |
| Active | |||||
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measureddepth.comLatest Issues
Coal gas competition is changing, but the standard view doesn't see it
In the shale era, gas has taken 17 Bcfd of market share from coal in power generation, driven by both coal retirements and falling gas prices. But now those drivers are reversing — coal retirements are winding down, and gas prices are risin...
Range Resources: Great rocks, no good options to bulk up
Why scale matters in Appalachia, and why Range's best path probably runs through EQT or Expand
Nine publicly traded producers remain in Appalachia, and while EQT and Expand operate twice as much as any of the others, they don’t yet trade a...
Not as loose as it looks
How the record 2026 solar buildout is biasing the weekly supply-demand balance — and how that effect will change through the year
Gas is on the margin in power generation more than any other fuel, meaning gas demand is highly sensitive to...
The weekly supply-demand balance's blind spot
Throughout the shale era, US gas production has not only been the most important market driver but also the hardest to track in real time. For LNG and piped imports and US domestic consumption, pipeline scrapes and EIA daily generation data...
The coming intra-Appalachia price disconnect
New Ohio demand sources gas downstream of existing constraints, creating intra-basin opportunity
I previously wrote about the specific connectivity deficiencies that constrain takeaway utilization in western Appalachia across four pipeline...
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