CNX CEO Nick Deluliis Talks About “Hard Truths” in M&A at DUG East
Yesterday CNX CEO Nick Deluliis was one of the keynote speakers at the annual DUG (Developing Unconventional Gas) East event, held virtually this year. Normally DUG is held at the Convention Center in Pittsburgh. Deluliis’ talk was wide-ranging, but much of it concentrated on mergers and acquisitions, particularly M&A in the Marcellus/Utica. Deluliis is not much interested in horizontal M&A for CNX, but he is intrigued by vertical M&A.
Read More “CNX CEO Nick Deluliis Talks About “Hard Truths” in M&A at DUG East”
In June 2019 the Cambridge (Massachusetts) Retirement System sued EQT claiming EQT’s executives had made false and misleading statements about their 2017 purchase of Rice Energy–claims about cost efficiencies that never materialized, and claims about the location of Rice leases that were not as close to EQT’s acreage as claimed (see 
Two years ago the Maryland Board of Public Works (BPW), which has three members (two leftwing Democrats and RINO Gov. Larry Hogan), rejected an 8-inch, 3.5-mile pipeline (tiny!) that would travel under the Potomac River, even though 12 other pipelines have previously been built under the Potomac in the same general vicinity (see 
Yesterday Hart Energy held its annual (always excellent) DUG (Developing Unconventional Gas) East event. Normally the event is held at the Convention Center in Pittsburgh. This year it was an all-virtual event. Among the speakers were CNX CEO Nick Deluliis, PennEnergy Resources CEO Rich Weber, and Ascent Resources CEO Jeff Fisher. While it’s not all blue skies and sunshine ahead, all three CEOs painted a picture of 2021 that’s better than 2020.
Each year East Daley Capital publishes its Midstream Guidance Outlook which looks at themes and trends affecting the midstream (pipeline) sector in the coming year. The latest version of Daley’s report has just been released and draws some interesting conclusions about the midstream in 2021. Namely, associated gas growth in the Permian and elsewhere will go down and result in rising gas demand from the Marcellus/Utica and Haynesville gas plays. The big winners will be M-U pipeline companies, including Williams, Antero Midstream, and Equitrans (EQT Midstream).
MARCELLUS/UTICA REGION: Planning Commission approves natural gas development project; NATIONAL: Biden’s plan to create millions of energy jobs might work, but…; China can literally pull the plug on US high tech manufacturing and defense applications; Wheeler warns of rules by a ‘future administration’; The oil industry narrowly avoided an election disaster…now it’s showing signs of life; Teaching climate crisis in classrooms critical for children, top educators say.