MDS 2021-Marcellus Shale Development D/A $172.5M in equity, sold $147.17M, 1125 investors

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM D

Notice of Exempt Offering of Securities

OMB APPROVAL

OMB Number:	3235-0076
Estimated average burden
hours per response:	4.00

1. Issuer's Identity

CIK (Filer ID Number)

Previous Names

X None

Entity Type

0001858675

	Corporation
X	Limited Partnership
	Limited Liability Company
	General Partnership
	Business Trust
	Other (Specify)

Name of Issuer

MDS 2021-Marcellus Shale Development, LP

Jurisdiction of Incorporation/Organization

DELAWARE

Year of Incorporation/Organization

	Over Five Years Ago
X	Within Last Five Years (Specify Year)	2017
	Yet to Be Formed

2. Principal Place of Business and Contact Information

Name of Issuer
MDS 2021-Marcellus Shale Development, LP
Street Address 1		Street Address 2
603 STANWIX STREET		SUITE 1750
City	State/Province/Country	ZIP/PostalCode	Phone Number of Issuer
PITTSBURGH	PENNSYLVANIA	15222	742-919-8804

3. Related Persons

Last Name	First Name	Middle Name
MDS Energy Development, LLC	-
Street Address 1	Street Address 2
603 Stanwix Street, Suite 1750	Two Gateway Center
City	State/Province/Country	ZIP/PostalCode
Pittsburgh	PENNSYLVANIA	15222

Relationship: X Executive Officer X Director X Promoter

Clarification of Response (if Necessary):

Managing General Partner of the Issuer.

Last Name	First Name	Middle Name
Snyder	Michael	D.
Street Address 1	Street Address 2
603 Stanwix Street, Suite 1750	Two Gateway Center
City	State/Province/Country	ZIP/PostalCode
Pittsburgh	PENNSYLVANIA	15222

Relationship: X Executive Officer Director X Promoter

Clarification of Response (if Necessary):

CEO of the Managing General Partner.

Last Name	First Name	Middle Name
Morris, Jr.	Randall	L.
Street Address 1	Street Address 2
603 Stanwix Street, Suite 1750	Two Gateway Center
City	State/Province/Country	ZIP/PostalCode
Pittsburgh	PENNSYLVANIA	15222

Relationship: X Executive Officer Director Promoter

Clarification of Response (if Necessary):

COO of the Managing General Partner.

Last Name	First Name	Middle Name
Knapp	Michael	S.
Street Address 1	Street Address 2
603 Stanwix Street, Suite 1750	Two Gateway Center
City	State/Province/Country	ZIP/PostalCode
Pittsburgh	PENNSYLVANIA	15222

Relationship: X Executive Officer Director Promoter

Clarification of Response (if Necessary):

President of the Managing General Partner.

Last Name	First Name	Middle Name
Saadeh	Richard
Street Address 1	Street Address 2
603 Stanwix Street, Suite 1750	Two Gateway Center
City	State/Province/Country	ZIP/PostalCode
Pittsburgh	PENNSYLVANIA	15222

Relationship: X Executive Officer Director Promoter

Clarification of Response (if Necessary):

Executive VP of Development of the Managing General Partner.

Last Name	First Name	Middle Name
Soemantoro	Woody
Street Address 1	Street Address 2
603 Stanwix Street, Suite 1750	Two Gateway Center
City	State/Province/Country	ZIP/PostalCode
Pittsburgh	PENNSYLVANIA	15222

Relationship: X Executive Officer Director Promoter

Clarification of Response (if Necessary):

Executive VP of National Accounts and Due Diligence of the Managing General Partner.

Last Name	First Name	Middle Name
Avi	Zachary	J.
Street Address 1	Street Address 2
603 Stanwix Street, Suite 1750	Two Gateway Center
City	State/Province/Country	ZIP/PostalCode
Pittsburgh	PENNSYLVANIA	15222

Relationship: X Executive Officer Director Promoter

Clarification of Response (if Necessary):

Executive VP of Investments of the Managing General Partner.

Last Name	First Name	Middle Name
Zellman	Adam	W.
Street Address 1	Street Address 2
603 Stanwix Street, Suite 1750	Two Gateway Center
City	State/Province/Country	ZIP/PostalCode
Pittsburgh	PENNSYLVANIA	15222

Relationship: X Executive Officer Director Promoter

Clarification of Response (if Necessary):

VP of Natural Gas Operations of the Managing General Partner.

Last Name	First Name	Middle Name
Laney	Heather
Street Address 1	Street Address 2
603 Stanwix Street, Suite 1750	Two Gateway Center
City	State/Province/Country	ZIP/PostalCode
Pittsburgh	PENNSYLVANIA	15222

Relationship: X Executive Officer Director Promoter

Clarification of Response (if Necessary):

VP of Accounting and Secretary of the Managing General Partner.

4. Industry Group

Agriculture Banking & Financial Services Commercial Banking Insurance Investing Investment Banking Pooled Investment Fund Is the issuer registered as an investment company under the Investment Company Act of 1940? Yes No Other Banking & Financial Services Business Services Energy Coal Mining Electric Utilities Energy Conservation Environmental Services X Oil & Gas Other Energy

Health Care Biotechnology Health Insurance Hospitals & Physicians Pharmaceuticals Other Health Care Manufacturing Real Estate Commercial Construction REITS & Finance Residential Other Real Estate

Retailing Restaurants Technology Computers Telecommunications Other Technology Travel Airlines & Airports Lodging & Conventions Tourism & Travel Services Other Travel Other

5. Issuer Size

Revenue Range		OR	Aggregate Net Asset Value Range
	No Revenues			No Aggregate Net Asset Value
	$1 - $1,000,000			$1 - $5,000,000
	$1,000,001 - $5,000,000			$5,000,001 - $25,000,000
	$5,000,001 - $25,000,000			$25,000,001 - $50,000,000
	$25,000,001 - $100,000,000			$50,000,001 - $100,000,000
	Over $100,000,000			Over $100,000,000
X	Decline to Disclose			Decline to Disclose
	Not Applicable			Not Applicable

6. Federal Exemption(s) and Exclusion(s) Claimed (select all that apply)

	Rule 504(b)(1) (not (i), (ii) or (iii))
	Rule 504 (b)(1)(i)
	Rule 504 (b)(1)(ii)
	Rule 504 (b)(1)(iii)
X	Rule 506(b)
	Rule 506(c)
	Securities Act Section 4(a)(5)

Investment Company Act Section 3(c)

Section 3(c)(1) Section 3(c)(9)

Section 3(c)(2) Section 3(c)(10)

Section 3(c)(3) Section 3(c)(11)

Section 3(c)(4) Section 3(c)(12)

Section 3(c)(5) Section 3(c)(13)

Section 3(c)(6) Section 3(c)(14)

Section 3(c)(7)

7. Type of Filing

	New Notice	Date of First Sale	2021-06-25	First Sale Yet to Occur
X	Amendment

8. Duration of Offering

Does the Issuer intend this offering to last more than one year? Yes X No

9. Type(s) of Securities Offered (select all that apply)

X	Equity	Pooled Investment Fund Interests
	Debt	Tenant-in-Common Securities
	Option, Warrant or Other Right to Acquire Another Security	Mineral Property Securities
	Security to be Acquired Upon Exercise of Option, Warrant or Other Right to Acquire Security	Other (describe)

10. Business Combination Transaction

Is this offering being made in connection with a business combination transaction, such as a merger, acquisition or exchange offer? Yes X No

Clarification of Response (if Necessary):

11. Minimum Investment

Minimum investment accepted from any outside investor $20,000 USD

12. Sales Compensation

Recipient	Recipient CRD Number None
Arete Wealth Management, LLC	44856
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
1101 W. Lake Street	1st Floor
City	State/Province/Country	ZIP/Postal Code
Chicago	ILLINOIS	60607
State(s) of Solicitation (select all that apply) Check “All States” or check individual States X All States	Foreign/non-US

Recipient	Recipient CRD Number None
Aegis Capital Corp.	15007
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
810 7TH AVE	18TH & 22ND FLOOR
City	State/Province/Country	ZIP/Postal Code
New York	NEW YORK	10019
State(s) of Solicitation (select all that apply) Check “All States” or check individual States X All States	X Foreign/non-US

Recipient	Recipient CRD Number None
ARKADIOS CAPITAL	282710
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
309 EAST PACES FERRY ROAD	SUITE 1000
City	State/Province/Country	ZIP/Postal Code
ATLANTA	GEORGIA	30305
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ALABAMA ALASKA ARIZONA ARKANSAS CALIFORNIA COLORADO CONNECTICUT DELAWARE DISTRICT OF COLUMBIA FLORIDA GEORGIA IDAHO ILLINOIS INDIANA IOWA KANSAS KENTUCKY LOUISIANA MAINE MARYLAND MASSACHUSETTS MICHIGAN MINNESOTA MISSISSIPPI MISSOURI MONTANA NEBRASKA NEVADA NEW HAMPSHIRE NEW JERSEY NEW MEXICO NEW YORK NORTH CAROLINA NORTH DAKOTA OHIO OKLAHOMA OREGON PENNSYLVANIA PUERTO RICO RHODE ISLAND SOUTH CAROLINA SOUTH DAKOTA TENNESSEE TEXAS UTAH VERMONT VIRGINIA WASHINGTON WEST VIRGINIA WISCONSIN WYOMING

Recipient	Recipient CRD Number None
AUSDAL FINANCIAL PARTNERS, INC.	7995
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
5187 UTICA RIDGE RD
City	State/Province/Country	ZIP/Postal Code
DAVENPORT	IOWA	52807
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ALABAMA ALASKA ARIZONA ARKANSAS CALIFORNIA COLORADO CONNECTICUT DELAWARE DISTRICT OF COLUMBIA FLORIDA GEORGIA HAWAII IDAHO ILLINOIS INDIANA IOWA KANSAS KENTUCKY LOUISIANA MAINE MARYLAND MASSACHUSETTS MICHIGAN MINNESOTA MISSISSIPPI MISSOURI MONTANA NEBRASKA NEVADA NEW HAMPSHIRE NEW JERSEY NEW MEXICO NEW YORK NORTH CAROLINA NORTH DAKOTA OHIO OKLAHOMA OREGON PENNSYLVANIA PUERTO RICO RHODE ISLAND SOUTH CAROLINA SOUTH DAKOTA TENNESSEE TEXAS UTAH VERMONT VIRGINIA WASHINGTON WEST VIRGINIA WISCONSIN WYOMING

Recipient	Recipient CRD Number None
BENCHMARK INVESTMENTS, LLC	103792
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
175 COUNTRY CLUB DR	BLDG 400 SUITE D
City	State/Province/Country	ZIP/Postal Code
STOCKBRIDGE	GEORGIA	30281
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	X Foreign/non-US
ALABAMA ALASKA ARIZONA ARKANSAS CALIFORNIA COLORADO CONNECTICUT DELAWARE DISTRICT OF COLUMBIA FLORIDA GEORGIA HAWAII IDAHO ILLINOIS INDIANA IOWA KANSAS KENTUCKY LOUISIANA MAINE MARYLAND MASSACHUSETTS MICHIGAN MINNESOTA MISSISSIPPI MISSOURI MONTANA NEBRASKA NEVADA NEW HAMPSHIRE NEW JERSEY NEW MEXICO NEW YORK NORTH CAROLINA NORTH DAKOTA OHIO OKLAHOMA OREGON PENNSYLVANIA RHODE ISLAND SOUTH CAROLINA SOUTH DAKOTA TENNESSEE TEXAS UTAH VERMONT VIRGINIA WASHINGTON WEST VIRGINIA WISCONSIN WYOMING

Recipient	Recipient CRD Number None
BERTHEL, FISHER & COMPANY FINANCIAL SERVICES, INC.	13609
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
4201 42ND STREET NE	SUITE 100
City	State/Province/Country	ZIP/Postal Code
CEDAR RAPIDS	IOWA	52402
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ALABAMA ALASKA ARIZONA ARKANSAS CALIFORNIA COLORADO CONNECTICUT DELAWARE DISTRICT OF COLUMBIA FLORIDA GEORGIA HAWAII IDAHO ILLINOIS INDIANA IOWA KANSAS KENTUCKY LOUISIANA MAINE MARYLAND MASSACHUSETTS MICHIGAN MINNESOTA MISSISSIPPI MISSOURI MONTANA NEBRASKA NEVADA NEW HAMPSHIRE NEW JERSEY NEW MEXICO NEW YORK NORTH CAROLINA NORTH DAKOTA OHIO OKLAHOMA OREGON PENNSYLVANIA PUERTO RICO RHODE ISLAND SOUTH CAROLINA SOUTH DAKOTA TENNESSEE TEXAS UTAH VERMONT VIRGINIA WASHINGTON WEST VIRGINIA WISCONSIN WYOMING

Recipient	Recipient CRD Number None
CABIN SECURITIES, INC.	137608
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
6240 W 135TH STREET	SUITE 214
City	State/Province/Country	ZIP/Postal Code
OVERLAND PARK	KANSAS	66223
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ALABAMA ALASKA ARIZONA ARKANSAS CALIFORNIA COLORADO CONNECTICUT DELAWARE DISTRICT OF COLUMBIA FLORIDA GEORGIA HAWAII IDAHO ILLINOIS INDIANA IOWA KANSAS KENTUCKY LOUISIANA MARYLAND MICHIGAN MINNESOTA MISSISSIPPI MISSOURI MONTANA NEBRASKA NEVADA NEW HAMPSHIRE NEW JERSEY NEW MEXICO NEW YORK NORTH CAROLINA NORTH DAKOTA OHIO OKLAHOMA OREGON PENNSYLVANIA RHODE ISLAND SOUTH CAROLINA SOUTH DAKOTA TENNESSEE TEXAS UTAH VERMONT VIRGINIA WASHINGTON WEST VIRGINIA WISCONSIN WYOMING

Recipient	Recipient CRD Number None
CABOT LODGE SECURITIES LLC	159712
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
200 VESEY STREET	24TH FLOOR
City	State/Province/Country	ZIP/Postal Code
NEW YORK	NEW YORK	10281
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ALABAMA ALASKA ARIZONA ARKANSAS CALIFORNIA COLORADO CONNECTICUT DELAWARE DISTRICT OF COLUMBIA FLORIDA GEORGIA HAWAII IDAHO ILLINOIS INDIANA IOWA KANSAS KENTUCKY LOUISIANA MAINE MARYLAND MASSACHUSETTS MICHIGAN MINNESOTA MISSISSIPPI MISSOURI MONTANA NEBRASKA NEVADA NEW HAMPSHIRE NEW JERSEY NEW MEXICO NEW YORK NORTH CAROLINA NORTH DAKOTA OHIO OKLAHOMA OREGON PENNSYLVANIA PUERTO RICO RHODE ISLAND SOUTH CAROLINA SOUTH DAKOTA TENNESSEE TEXAS UTAH VERMONT VIRGINIA WASHINGTON WEST VIRGINIA WISCONSIN WYOMING

Recipient	Recipient CRD Number None
CAMBRIDGE INVESTMENT RESEARCH, INC.	39543
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
1776 PLEASANT PLAIN RD.
City	State/Province/Country	ZIP/Postal Code
FAIRFIELD	IOWA	52556
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ALABAMA ALASKA ARIZONA ARKANSAS CALIFORNIA COLORADO CONNECTICUT DELAWARE DISTRICT OF COLUMBIA FLORIDA GEORGIA HAWAII IDAHO ILLINOIS INDIANA IOWA KANSAS KENTUCKY LOUISIANA MAINE MARYLAND MASSACHUSETTS MICHIGAN MINNESOTA MISSISSIPPI MISSOURI MONTANA NEBRASKA NEVADA NEW HAMPSHIRE NEW JERSEY NEW MEXICO NEW YORK NORTH CAROLINA NORTH DAKOTA OHIO OKLAHOMA OREGON PENNSYLVANIA PUERTO RICO RHODE ISLAND SOUTH CAROLINA SOUTH DAKOTA TENNESSEE TEXAS UTAH VERMONT VIRGINIA WASHINGTON WEST VIRGINIA WISCONSIN WYOMING

Recipient	Recipient CRD Number None
CENTER STREET SECURITIES, INC.	26898
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
2 INTERNATIONAL PLAZA	SUITE 301
City	State/Province/Country	ZIP/Postal Code
NASHVILLE	TENNESSEE	37217
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ALABAMA ALASKA ARIZONA ARKANSAS CALIFORNIA COLORADO CONNECTICUT DELAWARE DISTRICT OF COLUMBIA FLORIDA GEORGIA HAWAII IDAHO ILLINOIS INDIANA IOWA KANSAS KENTUCKY LOUISIANA MAINE MARYLAND MASSACHUSETTS MICHIGAN MINNESOTA MISSISSIPPI MISSOURI MONTANA NEBRASKA NEVADA NEW HAMPSHIRE NEW JERSEY NEW MEXICO NEW YORK NORTH CAROLINA NORTH DAKOTA OHIO OKLAHOMA OREGON PENNSYLVANIA PUERTO RICO RHODE ISLAND SOUTH CAROLINA SOUTH DAKOTA TENNESSEE TEXAS UTAH VERMONT VIRGINIA WASHINGTON WEST VIRGINIA WISCONSIN WYOMING

Recipient	Recipient CRD Number None
CETERA ADVISOR NETWORKS LLC	13572
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
MAIN ADDRESS 2301 ROSECRANS AVE #5100
City	State/Province/Country	ZIP/Postal Code
EL SEGUNDO	CALIFORNIA	90245
State(s) of Solicitation (select all that apply) Check “All States” or check individual States X All States	X Foreign/non-US

Recipient	Recipient CRD Number None
CETERA ADVISORS LLC	10299
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
5299 DTC BLVD #800
City	State/Province/Country	ZIP/Postal Code
GREENWOOD VILLAGE	COLORADO	80111
State(s) of Solicitation (select all that apply) Check “All States” or check individual States X All States	X Foreign/non-US

Recipient	Recipient CRD Number None
CETERA FINANCIAL SPECIALISTS LLC	10358
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
1450 AMERICAN LANE	6TH FLOOR, SUITE #650
City	State/Province/Country	ZIP/Postal Code
SCHAUMBURG	ILLINOIS	60173
State(s) of Solicitation (select all that apply) Check “All States” or check individual States X All States	X Foreign/non-US

Recipient	Recipient CRD Number None
CETERA INVESTMENT SERVICES LLC	15340
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
400 FIRST ST. S. SUITE 300
City	State/Province/Country	ZIP/Postal Code
ST. CLOUD	MINNESOTA	56302
State(s) of Solicitation (select all that apply) Check “All States” or check individual States X All States	X Foreign/non-US

Recipient	Recipient CRD Number None
CHAPIN, DAVIS	28116
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
1411 CLARKVIEW ROAD
City	State/Province/Country	ZIP/Postal Code
BALTIMORE	MARYLAND	21209
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ALABAMA ALASKA ARIZONA ARKANSAS CALIFORNIA COLORADO CONNECTICUT DELAWARE DISTRICT OF COLUMBIA FLORIDA GEORGIA HAWAII IDAHO ILLINOIS INDIANA IOWA KANSAS KENTUCKY LOUISIANA MAINE MARYLAND MASSACHUSETTS MICHIGAN MINNESOTA MISSISSIPPI MISSOURI MONTANA NEBRASKA NEVADA NEW HAMPSHIRE NEW JERSEY NEW MEXICO NEW YORK NORTH CAROLINA OHIO OKLAHOMA OREGON PENNSYLVANIA RHODE ISLAND SOUTH CAROLINA SOUTH DAKOTA TENNESSEE TEXAS UTAH VERMONT VIRGINIA WASHINGTON WEST VIRGINIA WISCONSIN WYOMING

Recipient	Recipient CRD Number None
CHAUNER SECURITIES, INC.	10075
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
666 DUNDEE ROAD, SUITE 903
City	State/Province/Country	ZIP/Postal Code
NORTHBROOK	ILLINOIS	60062
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ARIZONA CALIFORNIA COLORADO CONNECTICUT DISTRICT OF COLUMBIA FLORIDA ILLINOIS MARYLAND MASSACHUSETTS MINNESOTA NEVADA NEW HAMPSHIRE NEW JERSEY NEW YORK NORTH CAROLINA OHIO PENNSYLVANIA RHODE ISLAND UTAH WISCONSIN WYOMING

Recipient	Recipient CRD Number None
CLIENT ONE SECURITIES LLC	152974
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
6330 SPRINT PARKWAY, SUITE 400
City	State/Province/Country	ZIP/Postal Code
OVERLAND PARK	KANSAS	66211
State(s) of Solicitation (select all that apply) Check “All States” or check individual States X All States	Foreign/non-US

Recipient	Recipient CRD Number None
COASTAL EQUITIES, INC.	23769
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
1201 N. ORANGE STREET	SUITE 729
City	State/Province/Country	ZIP/Postal Code
WILMINGTON	DELAWARE	19801
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ALABAMA ALASKA ARIZONA ARKANSAS CALIFORNIA COLORADO CONNECTICUT DELAWARE DISTRICT OF COLUMBIA FLORIDA GEORGIA HAWAII IDAHO ILLINOIS INDIANA IOWA KANSAS KENTUCKY LOUISIANA MAINE MARYLAND MASSACHUSETTS MICHIGAN MINNESOTA MISSISSIPPI MISSOURI MONTANA NEBRASKA NEVADA NEW HAMPSHIRE NEW JERSEY NEW MEXICO NEW YORK NORTH CAROLINA NORTH DAKOTA OHIO OKLAHOMA OREGON PENNSYLVANIA PUERTO RICO RHODE ISLAND SOUTH CAROLINA SOUTH DAKOTA TENNESSEE TEXAS UTAH VERMONT VIRGINIA WASHINGTON WEST VIRGINIA WISCONSIN WYOMING

Recipient	Recipient CRD Number None
CONCORDE INVESTMENT SERVICES, LLC	151604
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
19500 VICTOR PARKWAY	SUITE 550
City	State/Province/Country	ZIP/Postal Code
LIVONIA	MICHIGAN	48152
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	X Foreign/non-US
ALABAMA ALASKA ARIZONA ARKANSAS CALIFORNIA COLORADO CONNECTICUT DELAWARE DISTRICT OF COLUMBIA FLORIDA GEORGIA HAWAII IDAHO ILLINOIS INDIANA IOWA KANSAS KENTUCKY LOUISIANA MAINE MARYLAND MASSACHUSETTS MICHIGAN MINNESOTA MISSISSIPPI MISSOURI MONTANA NEBRASKA NEVADA NEW HAMPSHIRE NEW JERSEY NEW MEXICO NEW YORK NORTH CAROLINA NORTH DAKOTA OHIO OKLAHOMA OREGON PENNSYLVANIA RHODE ISLAND SOUTH CAROLINA SOUTH DAKOTA TENNESSEE TEXAS UTAH VERMONT VIRGINIA WASHINGTON WEST VIRGINIA WISCONSIN WYOMING

Recipient	Recipient CRD Number None
DAI SECURITIES, LLC	36673
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
2200 CENTURY PARKWAY NE	SUITE 435
City	State/Province/Country	ZIP/Postal Code
ATLANTA	GEORGIA	30345
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ALABAMA ALASKA ARIZONA ARKANSAS CALIFORNIA COLORADO CONNECTICUT DISTRICT OF COLUMBIA FLORIDA GEORGIA HAWAII IDAHO ILLINOIS INDIANA IOWA KANSAS KENTUCKY LOUISIANA MAINE MARYLAND MASSACHUSETTS MICHIGAN MINNESOTA MISSISSIPPI MISSOURI MONTANA NEBRASKA NEVADA NEW HAMPSHIRE NEW JERSEY NEW MEXICO NEW YORK NORTH CAROLINA NORTH DAKOTA OHIO OKLAHOMA OREGON PENNSYLVANIA RHODE ISLAND SOUTH CAROLINA SOUTH DAKOTA TENNESSEE TEXAS UTAH VERMONT VIRGINIA WASHINGTON WEST VIRGINIA WISCONSIN WYOMING

Recipient	Recipient CRD Number None
DEMPSEY LORD SMITH, LLC	141238
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
901 N BROAD STREET	SUITE 400
City	State/Province/Country	ZIP/Postal Code
ROME	GEORGIA	30161
State(s) of Solicitation (select all that apply) Check “All States” or check individual States X All States	Foreign/non-US

Recipient	Recipient CRD Number None
EMERSON EQUITY LLC	130032
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
155 BOVET ROAD, SUITE 725
City	State/Province/Country	ZIP/Postal Code
SAN MATEO	CALIFORNIA	94402
State(s) of Solicitation (select all that apply) Check “All States” or check individual States X All States	X Foreign/non-US

Recipient	Recipient CRD Number None
FIRST ALLIED SECURITIES, INC.	32444
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
655 WEST BROADWAY 12TH FLOOR
City	State/Province/Country	ZIP/Postal Code
SAN DIEGO	CALIFORNIA	92101
State(s) of Solicitation (select all that apply) Check “All States” or check individual States X All States	X Foreign/non-US

Recipient	Recipient CRD Number None
FIRST FINANCIAL EQUITY CORPORATION	16507
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
7047 E GREENWAY PARKWAY	SUITE 350
City	State/Province/Country	ZIP/Postal Code
SCOTTSDALE	ARIZONA	85254
State(s) of Solicitation (select all that apply) Check “All States” or check individual States X All States	Foreign/non-US

Recipient	Recipient CRD Number None
G. A. REPPLE & COMPANY	17486
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
101 NORMANDY RD
City	State/Province/Country	ZIP/Postal Code
CASSELBERRY	FLORIDA	32707
State(s) of Solicitation (select all that apply) Check “All States” or check individual States X All States	Foreign/non-US

Recipient	Recipient CRD Number None
GRAMERCY SECURITIES, INC.	8177
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
3949 OLD POST ROAD
City	State/Province/Country	ZIP/Postal Code
CHARLESTON	RHODE ISLAND	02813
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ARIZONA CALIFORNIA COLORADO CONNECTICUT FLORIDA GEORGIA HAWAII NEW MEXICO NEW YORK OKLAHOMA OREGON RHODE ISLAND TEXAS UTAH VERMONT VIRGINIA WASHINGTON WYOMING

Recipient	Recipient CRD Number None
GREEN VISTA CAPITAL, LLC	293630
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
222 N. PARK AVENUE
City	State/Province/Country	ZIP/Postal Code
WINTER PARK	FLORIDA	32789
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ALABAMA ALASKA ARIZONA ARKANSAS CALIFORNIA COLORADO CONNECTICUT DELAWARE DISTRICT OF COLUMBIA FLORIDA GEORGIA IDAHO ILLINOIS INDIANA IOWA KANSAS KENTUCKY LOUISIANA MARYLAND MASSACHUSETTS MICHIGAN MINNESOTA MISSOURI NEBRASKA NEVADA NEW HAMPSHIRE NEW JERSEY NEW MEXICO NEW YORK NORTH CAROLINA NORTH DAKOTA OHIO OKLAHOMA OREGON PENNSYLVANIA SOUTH CAROLINA SOUTH DAKOTA TENNESSEE TEXAS VERMONT VIRGINIA WASHINGTON WISCONSIN

Recipient	Recipient CRD Number None
IBN FINANCIAL SERVICES, INC.	42360
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
404 OLD LIVERPOOL RD
City	State/Province/Country	ZIP/Postal Code
LIVERPOOL	NEW YORK	13088
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ALABAMA ARIZONA ARKANSAS CALIFORNIA COLORADO CONNECTICUT DELAWARE DISTRICT OF COLUMBIA FLORIDA GEORGIA HAWAII IDAHO ILLINOIS INDIANA IOWA KANSAS KENTUCKY LOUISIANA MAINE MARYLAND MASSACHUSETTS MICHIGAN MINNESOTA MISSISSIPPI MISSOURI NEBRASKA NEVADA NEW HAMPSHIRE NEW JERSEY NEW MEXICO NEW YORK NORTH CAROLINA OHIO OKLAHOMA OREGON PENNSYLVANIA RHODE ISLAND SOUTH CAROLINA SOUTH DAKOTA TENNESSEE TEXAS UTAH VERMONT VIRGINIA WASHINGTON WISCONSIN

Recipient	Recipient CRD Number None
KALOS CAPITAL, INC.	44337
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
11525 PARK WOODS CIRCLE	SUITE 280
City	State/Province/Country	ZIP/Postal Code
ALPHARETTA	GEORGIA	30005
State(s) of Solicitation (select all that apply) Check “All States” or check individual States X All States	Foreign/non-US

Recipient	Recipient CRD Number None
KCD FINANCIAL, INC.	127473
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
3061 ALLIED STREET	SUITE B
City	State/Province/Country	ZIP/Postal Code
GREEN BAY	WISCONSIN	54304
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ALABAMA ARIZONA ARKANSAS CALIFORNIA COLORADO CONNECTICUT DELAWARE DISTRICT OF COLUMBIA FLORIDA GEORGIA HAWAII IDAHO ILLINOIS INDIANA IOWA KANSAS KENTUCKY LOUISIANA MAINE MARYLAND MASSACHUSETTS MICHIGAN MINNESOTA MISSISSIPPI MISSOURI MONTANA NEBRASKA NEVADA NEW HAMPSHIRE NEW JERSEY NEW MEXICO NEW YORK NORTH CAROLINA NORTH DAKOTA OHIO OKLAHOMA OREGON PENNSYLVANIA PUERTO RICO RHODE ISLAND SOUTH CAROLINA SOUTH DAKOTA TENNESSEE TEXAS UTAH VERMONT VIRGINIA WASHINGTON WEST VIRGINIA WISCONSIN WYOMING

Recipient	Recipient CRD Number None
KINGSWOOD CAPITAL PARTNERS, LLC	288898
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
11440 W. BERNARDO CT.	SUITE 300
City	State/Province/Country	ZIP/Postal Code
SAN DIEGO	CALIFORNIA	92127
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	Foreign/non-US
ALABAMA ALASKA ARIZONA ARKANSAS CALIFORNIA COLORADO CONNECTICUT DELAWARE DISTRICT OF COLUMBIA FLORIDA GEORGIA HAWAII IDAHO ILLINOIS INDIANA IOWA KANSAS KENTUCKY LOUISIANA MARYLAND MASSACHUSETTS MICHIGAN MINNESOTA MISSISSIPPI MISSOURI MONTANA NEBRASKA NEVADA NEW JERSEY NEW MEXICO NEW YORK NORTH CAROLINA NORTH DAKOTA OHIO OKLAHOMA OREGON PENNSYLVANIA RHODE ISLAND SOUTH CAROLINA SOUTH DAKOTA TENNESSEE TEXAS UTAH VIRGINIA WASHINGTON WEST VIRGINIA WISCONSIN WYOMING

Recipient	Recipient CRD Number None
NEWBRIDGE SECURITIES CORPORATION	104065
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
1200 NORTH FEDERAL HIGHWAY	SUITE 400
City	State/Province/Country	ZIP/Postal Code
BOCA RATON	FLORIDA	33432
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	X Foreign/non-US
ALABAMA ALASKA ARIZONA ARKANSAS CALIFORNIA COLORADO CONNECTICUT DELAWARE DISTRICT OF COLUMBIA FLORIDA GEORGIA HAWAII IDAHO ILLINOIS INDIANA IOWA KANSAS KENTUCKY LOUISIANA MARYLAND MASSACHUSETTS MICHIGAN MINNESOTA MISSISSIPPI MISSOURI MONTANA NEBRASKA NEVADA NEW HAMPSHIRE NEW JERSEY NEW MEXICO NEW YORK NORTH CAROLINA NORTH DAKOTA OHIO OKLAHOMA OREGON PENNSYLVANIA PUERTO RICO RHODE ISLAND SOUTH CAROLINA SOUTH DAKOTA TENNESSEE TEXAS UTAH VERMONT VIRGINIA WASHINGTON WEST VIRGINIA WISCONSIN WYOMING

Recipient	Recipient CRD Number None
PURSHE KAPLAN STERLING INVESTMENTS	35747
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
80 STATE STREET
City	State/Province/Country	ZIP/Postal Code
ALBANY	NEW YORK	12207
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	X Foreign/non-US
ALABAMA ALASKA ARIZONA ARKANSAS CALIFORNIA COLORADO CONNECTICUT DELAWARE DISTRICT OF COLUMBIA FLORIDA GEORGIA HAWAII IDAHO ILLINOIS INDIANA IOWA KANSAS KENTUCKY LOUISIANA MAINE MARYLAND MASSACHUSETTS MICHIGAN MINNESOTA MISSISSIPPI MISSOURI MONTANA NEBRASKA NEVADA NEW HAMPSHIRE NEW JERSEY NEW MEXICO NEW YORK NORTH CAROLINA NORTH DAKOTA OHIO OKLAHOMA OREGON PENNSYLVANIA RHODE ISLAND SOUTH CAROLINA SOUTH DAKOTA TENNESSEE TEXAS UTAH VERMONT VIRGINIA WASHINGTON WEST VIRGINIA WISCONSIN WYOMING

Recipient	Recipient CRD Number None
SCF SECURITIES, INC.	47275
(Associated) Broker or Dealer X None	(Associated) Broker or Dealer CRD Number X None
None	None
Street Address 1	Street Address 2
155 E. SHAW AVENUE	SUITE #102
City	State/Province/Country	ZIP/Postal Code
FRESNO	CALIFORNIA	93710
State(s) of Solicitation (select all that apply) Check “All States” or check individual States All States	X Foreign/non-US
ALABAMA ALASKA ARIZONA ARKANSAS CALIFORNIA COLORADO CONNECTICUT DELAWARE DISTRICT OF COLUMBIA FLORIDA GEORGIA HAWAII IDAHO ILLINOIS INDIANA IOWA KANSAS KENTUCKY LOUISIANA MAINE MARYLAND MASSACHUSETTS MICHIGAN MINNESOTA MISSISSIPPI MISSOURI MONTANA NEBRASKA NEVADA NEW HAMPSHIRE NEW JERSEY NEW MEXICO NEW YORK NORTH CAROLINA NORTH DAKOTA OHIO OKLAHOMA OREGON PENNSYLVANIA RHODE ISLAND SOUTH CAROLINA SOUTH DAKOTA TENNESSEE TEXAS UTAH VERMONT VIRGINIA WASHINGTON WEST VIRGINIA WISCONSIN WYOMING

13. Offering and Sales Amounts

Total Offering Amount	$172,500,000	USD	or Indefinite
Total Amount Sold	$147,168,666	USD
Total Remaining to be Sold	$25,331,334	USD	or Indefinite

Clarification of Response (if Necessary):

The Dealer Manager exercised the Greenshoe option; thus, the total offering amount was increased from $150,000,000 to $172,500,000. The offering was terminated on December 31, 2021.

14. Investors

Select if securities in the offering have been or may be sold to persons who do not qualify as accredited investors, and enter the number of such non-accredited investors who already have invested in the offering.

Regardless of whether securities in the offering have been or may be sold to persons who do not qualify as accredited investors, enter the total number of investors who already have invested in the offering:

1,125

15. Sales Commissions & Finder's Fees Expenses

Provide separately the amounts of sales commissions and finders fees expenses, if any. If the amount of an expenditure is not known, provide an estimate and check the box next to the amount.

Sales Commissions	$8,778,704	USD	Estimate
Finders' Fees	$0	USD	Estimate

Clarification of Response (if Necessary):

Of the total, $1,301,505 is designated as a marketing fee.

16. Use of Proceeds

Provide the amount of the gross proceeds of the offering that has been or is proposed to be used for payments to any of the persons required to be named as executive officers, directors or promoters in response to Item 3 above. If the amount is unknown, provide an estimate and check the box next to the amount.

$138,389,962

USD

Estimate

Clarification of Response (if Necessary):

Proceeds are paid to the Managing General Partner for use in the drilling, completion, and operation of the Issuer's wells.

Signature and Submission

Please verify the information you have entered and review the Terms of Submission below before signing and clicking SUBMIT below to file this notice.

Terms of Submission

In submitting this notice, each issuer named above is:

• Notifying the SEC and/or each State in which this notice is filed of the offering of securities described and undertaking to furnish them, upon written request, in the accordance with applicable law, the information furnished to offerees.*

• Irrevocably appointing each of the Secretary of the SEC and, the Securities Administrator or other legally designated officer of the State in which the issuer maintains its principal place of business and any State in which this notice is filed, as its agents for service of process, and agreeing that these persons may accept service on its behalf, of any notice, process or pleading, and further agreeing that such service may be made by registered or certified mail, in any Federal or state action, administrative proceeding, or arbitration brought against the issuer in any place subject to the jurisdiction of the United States, if the action, proceeding or arbitration (a) arises out of any activity in connection with the offering of securities that is the subject of this notice, and (b) is founded, directly or indirectly, upon the provisions of: (i) the Securities Act of 1933, the Securities Exchange Act of 1934, the Trust Indenture Act of 1939, the Investment Company Act of 1940, or the Investment Advisers Act of 1940, or any rule or regulation under any of these statutes, or (ii) the laws of the State in which the issuer maintains its principal place of business or any State in which this notice is filed.

• Certifying that, if the issuer is claiming a Regulation D exemption for the offering, the issuer is not disqualified from relying on Rule 504 or Rule 506 for one of the reasons stated in Rule 504(b)(3) or Rule 506(d).

Each Issuer identified above has read this notice, knows the contents to be true, and has duly caused this notice to be signed on its behalf by the undersigned duly authorized person.

For signature, type in the signer's name or other letters or characters adopted or authorized as the signer's signature.

Issuer	Signature	Name of Signer	Title	Date
MDS 2021-Marcellus Shale Development, LP	/s/ Michael D. Snyder	Michael D. Snyder	CEO of Managing General Partner	2022-03-15

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.

* This undertaking does not affect any limits Section 102(a) of the National Securities Markets Improvement Act of 1996 ("NSMIA") [Pub. L. No. 104-290, 110 Stat. 3416 (Oct. 11, 1996)] imposes on the ability of States to require information. As a result, if the securities that are the subject of this Form D are "covered securities" for purposes of NSMIA, whether in all instances or due to the nature of the offering that is the subject of this Form D, States cannot routinely require offering materials under this undertaking or otherwise and can require offering materials only to the extent NSMIA permits them to do so under NSMIA's preservation of their anti-fraud authority.