Will dry natural gas production from the Marcellus formation for 2026 be above 10.00 Tcf?

If EIA reports that dry natural gas production from the Marcellus formation for calendar year 2026 is above 10.00 Tcf, then the market resolves to Yes. The Underlying is EIA’s Marcellus formation dry natural gas production series. Monthly average production rates will be converted into monthly volumes using the number of calendar days in each month and summed across January–December 2026. Production from the broader Appalachia region or Utica formation will not be included. EIA publishes the relevant shale-production series through its STEO data products.