EQT Issues 2019 Plan; Rice Boys Launch Proxy War to Take Over
We are positively bursting with news about EQT today. Yesterday EQT’s existing management issued plans for 2019 and the Rice brothers responded–by launching a proxy war to replace board members and top management. In addition, we unearthed news that the Rice boys held their meeting with EQT’s board on Jan. 15.
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Yesterday the Pennsylvania Dept. of Environmental Protection’s (DEP) Deputy Secretary for Oil and Gas Management, Scott Perry, told DEP’s Citizens Advisory Council his program is losing $800,000 a month, which he desperately, desperately hopes will be fixed soon by slapping a 250% hike in permit fees on Marcellus drillers.
Yesterday our favorite government agency, the U.S. Energy Information Administration, issued our favorite monthly report, the Drilling Productivity Report. The DPR is a forecast of oil and gas production in the country’s seven major shale plays for the coming month, made by the expert number crunchers at EIA.
The radicals of the Sierra Club along with some lesser-known but equally radical enviro groups are challenging an air quality permit recently granted by the Ohio Environmental Protection Agency for the PTT Global Chemical ethane cracker project in Belmont County, OH.
Remember a few years back when Volkswagen got caught cheating on emissions tests for the cars they make? Bad move. It ended up costing a number of people at VW their jobs, and costing the company $2.9 billion in a settlement with the U.S. government. That shakedown money is now being doled out state by state, and we can’t think of a better way to use the money than by investing in NGVs (natural gas vehicles).
MARCELLUS/UTICA REGION: 15 permits awarded in the Utica Shale; rig count at 16; PennDOT, Lebanon Transit open CNG transit fueling station; Natural gas outage leaves hundreds without heat; OTHER U.S. REGIONS: Newport, Middletown residents face a week or more without natural gas; Natural gas system expanding in Budd Lake; NATIONAL: States compete for oil and gas money, too; INTERNATIONAL: China’s 2018 LNG imports surge to record; Saudi Arabia ventures into U.S. natural gas; The future is now for LNG as derivatives trading takes off.