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EQT Buying Olympus Energy for $1.8 Billion; 90K Acres, 0.5 Bcf/d

The rumor mill was right. In February, MDN brought you the juicy rumor that Olympus Energy, founded in 2012 as Huntley & Huntley Energy Exploration (a company that drills exclusively in the Pittsburgh suburbs), was being shopped for sale by its main financial backer (see Blackstone Looks to Sell M-U Driller Olympus Energy for $2 Billion). EQT Corporation, the second-largest natural gas producer in the country (which drills only in the Marcellus/Utica), released its first-quarter 2025 update late yesterday. Tucked in the update is the bombshell news that it has cut a deal to buy Olympus for $1.8 billion in stock and cash. Read More “EQT Buying Olympus Energy for $1.8 Billion; 90K Acres, 0.5 Bcf/d”

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FERC OKs PJM Deal with Devil (Shapiro) for Higher Rates, Blackouts

In January, MDN reported that the PJM Interconnection electrical grid operator, covering Pennsylvania (along with all or parts of 12 other states and the District of Columbia), had caved to the political demands of PA Gov. Josh Shapiro to artificially cap the prices of the next capacity auction scheduled for July 2025 (see PJM Grid Caves to PA Gov. Shapiro Bullying, Blackout Risk Rises). It means electric ratepayers won’t see as high an increase in their electric rates (for now), but it also means the risk of a blackout has just gone up significantly and it means prices won’t go lower than they otherwise could have. The bad news is that the Federal Energy Regulatory Commission (FERC) has given its stamp of approval on the deal. Read More “FERC OKs PJM Deal with Devil (Shapiro) for Higher Rates, Blackouts”

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Fake Harvard Research Helped Defeat Virginia Power Plant Project

One week ago, MDN told you that an on-again, off-again plan to build a massive natural gas-fired power plant (that would use Marcellus gas) in Pittsylvania County, Va., had been pulled by the builder (see Plan for Va. Data Center with 3,500 MW Gas-Fired Plant Canceled). There is more to the story. Even after the project sponsor withdrew the plan, the Board of Supervisors still voted against it. Why? It blocks the sponsor from submitting a substantially similar proposal for the next 12 months. The supervisors used a bought-and-paid-for sham research study by a Harvard researcher as the basis for rejecting the project. Read More “Fake Harvard Research Helped Defeat Virginia Power Plant Project”

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NYMEX NatGas Price Flirts with Going Below $3.00, Settles at $3.01

Energy analysts say the front-month contract for NYMEX natural gas (for May) is “flirting with [the] $3.00 per million British thermal units (MMBtu) psychological level.” At one point during trading yesterday, the price tested an intraday low of $2.995. Yuck. Are we heading back below $3 again? Unfortunately, analysts are saying that although $3 is a strong psychological barrier, “technicals indicate further weakness ahead.” Sounds a bit ominous. Read More “NYMEX NatGas Price Flirts with Going Below $3.00, Settles at $3.01”

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Magnanimous EU May Tweak Methane Regs to Allow More U.S. LNG

Reuters is reporting that the European Union (we call them ‘Euro weenies’) is looking at ways to make it easier for U.S. LNG exports to comply with its onerous new methane emissions regulations. The EU is earnestly trying to avoid a trade war with President Trump, according to sources speaking to Reuters. What’s happening is that Europe is trying to figure out how it can not block U.S. LNG based on its cockamamie new regulations and save face at the same time. Read More “Magnanimous EU May Tweak Methane Regs to Allow More U.S. LNG”

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The Staggering Cost of Forced Green Energy Transition on Consumers

The research continues to roll in that deeply blue Democrat states that insist on forcing their citizens to convert to so-called green energy are driving them out of those states. Last week, we brought you an analysis of counties along the Pennsylvania/New York border, on either side (see New Study Compares Fracking’s Economic Impact on PA, NY Counties). The counties in PA where there is fracking are economically thriving. Those on the NY side are impoverished and losing population. Now comes another study, this one from California (New York’s political soulmate), revealing the staggering costs California consumers and businesses will incur as the state pursues its aggressive green energy mandates. It ain’t pretty. Read More “The Staggering Cost of Forced Green Energy Transition on Consumers”

MDN’s Energy Stories of Interest: Wed, Apr 23, 2025 [FREE ACCESS]

NATIONAL: Amazon has paused some data center lease commitments; Recruitment experts reveal biggest oil, gas hiring surprises of 2025 so far; WTI rebounds 2% on supply, geopolitical shifts; Big Oil is offshoring its prized engineering jobs to India; LNG exports won’t increase U.S. gas prices – infrastructure bottlenecks will; How much oil is the USA producing right now?; On Earth Day, we finally have a president who follows science; The bright future of natural gas; U.S. LNG dealmaking picks up with benefits for midstream; U.S. LNG feedgas slipped last week; Extreme climate activists aren’t going away; Gas up, emissions down – the future of transportation; INTERNATIONAL: China-owned supertankers face $5.2 million in fees per USA call; Earth Day 2025: Our Power, Our Planet, Our Propaganda. Read More “MDN’s Energy Stories of Interest: Wed, Apr 23, 2025 [FREE ACCESS]”