EQT CEO McNally Says Company Becoming “Free Cash Flow Machine”
The proxy war between Toby and Derek Rice and current management at EQT continues. It’s now turned into a press release war. Every few days one or the other (or both) sides issue press releases to try and convince shareholders *their* side is the winning/righteous/justified side in this war. Yesterday EQT fired off another round by issuing a press release to announce the release of a new PowerPoint slide deck.
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This stuff makes us angry. Just yesterday we told you about a contractor using the sleazy tactic of filing “mechanic’s liens” against landowners in western New York State because of a payment dispute with the company building a wind farm on their property (see 
When we spotted a headline about Duke Energy, joint venture partner with Dominion Energy in the 600-mile Atlantic Coast Pipeline (ACP) project, investigating “Plan B” for what to do if ACP doesn’t get built, we thought, “Oh oh. This is a sure sign the project is in trouble and the principles are giving up.” But we should have known–it’s Bloomberg! It’s Biased news with a capital B.
Andrew Cuomo, contrary to the picture he attempts to paint for gullible voters and the even more gullible mainstream news reporters, is a very weak “leader.” In what has become an identifiable pattern, when Cuomo is put under pressure by the fringe left environmental lobby, he folds to that pressure like a cheap suit. Totally gives in and accedes to whatever weird demands they make–like no new gas pipelines. Even when it economically hurts the state.
If you’ve hung around MDN for long and read our posts on the U.S. Energy Information Administration’s (EIA) monthly Drilling Productivity Report (DPR), you’ve come across talk about DUCs–
The International Energy Agency has just released its latest assessment of global energy consumption and energy-related CO2 emissions for 2018. The “Global Energy & CO2 Status Report” (full copy below) provides a high-level and up-to-date view of energy markets, including latest available data for oil, natural gas, coal, wind, solar, nuclear power, electricity, and energy efficiency. The big winner in 2018 across Planet Earth? Natural gas.
MARCELLUS/UTICA REGION: The oil and gas industry future is bright in WV; Pa. natural gas fees already helping state; EQT Foundation gives record total in 2018; Gas industry pays for road repairs related to drilling, leader says; OTHER U.S. REGIONS: Energy Transfer, Shell sign agreement to further progress Lake Charles U.S. LNG; Texas needs another 10,000 miles of gas, oil pipelines by 2050: study; NATIONAL: Feds use climate alarmism to brainwash our children; Power sector pushed domestic U.S. natural gas consumption to new record in 2018; Research finds US shale revolution is responsible for saving tens of thousands of lives every year; Technology is a huge driver of the U.S. oil and gas boom.