Energy Companies | EQT Corp | Industrywide Issues | M&A | Olympus/Huntley & Huntley | Pennsylvania | Statewide PA
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”
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 
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 
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. 
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. 
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 
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