EQT Clamps Down on Supply Chain Partners, Requires ISN Cert
Listen up companies that want to be part of Marcellus/Utica driller EQT Corporation’s supply chain: You now need to be ISN (ISNetWorld) certified…
Archive for 'EQT Corp'
Siesmic Testing, Drilling (?) Coming to New Eagle, PA
Some thumping and bumping is coming to New Eagle (Washington County), PA. EQT presented plans last night at a council meeting to conduct seismic testing in the borough in late August/early September. Seismic testing, depending on what it finds, usually precedes drilling…
EQT Analyst Presentation: EUR for Marcellus Wells Goes Up
On Friday, EQT Corporation released updated numbers for their estimated ultimate recovery (EUR) rates in the Marcellus Shale, along with a new analyst presentation (full copy embedded below). EQT says the average well in southwest PA and WV will produce close to 10 billion cubic feet of natural gas per well over their lifetimes, while [...]
Zeits Says Chesapeake Marcellus Land Deals Not a Fire Sale
MDN recently highlighted two deals by Chesapeake to sell Marcellus Shale acreage at what we consider fire sale prices–in one case $574 per acre (see Southwestern Energy Buys 162K PA Marcellus Acres from Chesapeake), and in a second case $606 per acre (see Chesapeake Fire Sale Continues – EQT Picks up 99K Acres in SW PA). However, [...]
Chesapeake Fire Sale Continues – EQT Picks up 99K Acres in SW PA
The Chesapeake Energy fire sale of assets continues. On Friday, EQT Corp. announced they’re picking up 99,000 acres of leases and 10 horizontal wells in the Marcellus Shale from Chessy in southwestern PA for $113 million. Of that number, $60 million is the price for the acreage (and $53 million for the 10 operating wells). [...]
EQT 1Q13 Report: It’s All Looking "Up" – Thanks to the Marcellus
EQT turned in a report on the first quarter of 2013 today and the numbers are excellent. Marcellus Shale production for the company rose 103% over the same period last year. Midstream volumes are up, revenue is up, profits are up. Hey, it’s all looking up for EQT! EQT had 79.4 billion cubic feet of [...]
EQT & Gas Utility Company Deal Gets Federal "Approval"
On March 1, MDN told you about the complex deal agreed to between EQT and People’s Natural Gas. EQT wants to swap its gas utility division, called Equiptable Gas Company, to People’s in return for cash and a midstream company owned by Peoples called Allegheny Valley Connector (see Pittsburgh Driller & Gas Utility Co Want [...]
PA Anti-Drilling Groups Demand EQT Give Up Right to Free Speech
A group of extremist anti-drilling organizations, including PennPIRG, PennEnvironment, Public Citizen, Keystone Progress, One Pittsburgh, Common Cause PA, University of Pittsburgh students and “others” held a press conference outside EQT’s annual shareholder meeting in Pittsburgh on Wednesday to unilaterally call for EQT to forfeit their rights to free speech under the U.S. Constitution. These extremist [...]
EQT Sheds Divisions/Assets to Focus on Marcellus Shale
In a shareholders meeting held Wednesday at EQT Corp in Pittsburgh, the company laid out a strategy of focusing on drilling for shale gas in southwestern PA. That means they will continue to divest from other businesses, like their Equitable Gas utility company (waiting for regulatory approval to sell it), and the sale of their [...]
The Nutty Antics of Anti-Drilling Kids – Pittsburgh Edition
Just a few days after MDN editor Jim Willis visited Pittsburgh, a small group of 15 anti-drillers made fools of themselves in front of EQT Plaza in downtown Pittsburgh. Their (latest) cause? They don’t like the new Center for Sustainable Shale Development (CSSD) and EQT’s participation in it. They believe the CSSD legitimizes "dirty" fossil [...]
Important: Drillers & Enviros Form New Group, Launch Cert Program
Two years ago, an informal group of high level leaders from both the Marcellus drilling industry (companies like Shell, CONSOL, Chevron and EQT) sat down with high level people from organizations trying to stop shale drilling (organizations like the Heniz Endowment, PennFuture, GASP and the Clean Air Taskforce), to see if both sides could agree [...]
Pittsburgh Driller & Gas Utility Co Want to Swap Assets
In a complex deal submitted to regulators last year, Marcellus driller and midstream company EQT Corp. and gas utility company Peoples Natural Gas want to do a swap. EQT proposes to trade/sell its natural gas utility division, called Equitable Gas, to Peoples, and in return EQT would get not only $720 million but also gas [...]
$50M Check in the Mail: Pittsburgh Airport Lease a Done Deal
The deal by CONSOL Energy to lease 9,000 acres owned by Pittsburgh International Airport for shale gas drilling is a done deal. Yesterday the Allegheny County Council voted to accept the deal. A few nut job protesters turned up in gas masks (as is their way). The vote was 9-4 in favor of the deal. [...]
Wastewater Trucker Killed in WV Well Pad Explosion
A worker transferring wastewater from a holding tank to a truck at an already-drilled EQT well pad site in Taylor County, WV was killed when something at the site caused an explosion. The WV DEP is investigating. The few details that we currently know:
CONSOL Increases Bonus Offer to Pgh Airport by 2.4 Times to $50M
MDN has been following the deal to lease 9,263 acres of Pittsburgh International Airport land for shale gas drilling. As you may recall, there were two bids submitted in December, one by CONSOL with an 18% royalty and signing bonus of $20.8 million, and one from EQT, also with an 18% royalty but a hefty [...]
Top 5 Drillers in SW Pennsylvania by Number of Wells Drilled
Each year the Pittsburgh Business Times ranks the “top 25” drillers in southwestern PA according to the total number of wells they’ve drilled to date in the Marcellus Shale. The 2013 list was published today. Here’s the top five from that list—with driller name and the number of wells drilled:
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