EQT Update: Spend Less but Produce More in 2025
Yesterday, MDN brought you the big news that EQT is buying out and merging in Olympus Energy (see EQT Buying Olympus Energy for $1.8 Billion; 90K Acres, 0.5 Bcf/d). EQT CEO Toby Rice spoke about that purchase during a quarterly conference call with analysts yesterday. Today, we bring you the rest of the news from EQT’s first quarter update. EQT provided revised estimates for what it plans to do this year. The company said it now plans to spend $1.95 billion to $2.07 billion on “maintenance” capital, down $25 million from its 2024 spending of $2.26 billion. Even though the company will spend less money, it is expected to produce more natural gas, estimated at 6.03 to 6.30 Bcfe/d, compared to 6.1 Bcfe/d in 2024. Read More “EQT Update: Spend Less but Produce More in 2025”
Range Resources issued its first quarter 2025 update yesterday. Range produces a significant volume of NGLs (ethane and propane), in addition to methane (natural gas). Range CEO Dennis Degner told analysts yesterday that, no matter “how the tariff dust settles,” demand is expected to be “relatively strong” for its U.S. East Coast volumes of NGLs. Degner said that 80% of Range’s propane (LPG) production is exported by ship. “And all of it is going to Europe right now,” he said. “So we really don’t have a current exposure to the Chinese market.” Smart company. 
The highly functional and responsible Susquehanna River Basin Commission (SRBC), unlike its completely dysfunctional and irresponsible cousin, the Delaware River Basin Commission (DRBC), continues to support the shale energy industry by approving water withdrawals and consumptive use for responsible and safe shale drilling. The SRBC published a notice in the April 19 Pennsylvania Bulletin that the Executive Director of the SRBC gave his approval to or renewed 58 general water use permits in March for individual shale gas well drilling pads in Blair, Bradford, Clearfield, Lycoming, Susquehanna, Tioga, and Wyoming counties in Pennsylvania. 
Compressor Station 165 in Pittsylvania County (in southern Virginia) is part of the Transco pipeline network, the nation’s largest-volume interstate natural gas pipeline system. CS 165 is also the endpoint of the Mountain Valley Pipeline, which carries 2 Bcf/d of natural gas from the Marcellus and Utica Shale from Wetzel County, WV, to Pittsylvania County, VA. Williams, the owner of Transco, replaced an aging fleet of engines at CS 165 with new turbines that decreased emissions and took up far less space. Enbridge, another major midstream company, is replacing hundreds of flow meters with newer models, which deliver much better information to the company in real-time. 
Data centers and the gas-fired power plants that will provide electricity to them are all the rage these days, particularly in Pennsylvania. After years of no new gas-fired power plants being announced in the Keystone State due to the attempt by PA’s governors to inflict a carbon tax on them, there has been a flurry of new announcements (see 
This is TOO funny! Donald Trump so rattles the fascist climate left, they’re now imagining things that haven’t and won’t happen. Someone on the environmental left spread a rumor last week that the Trump administration was about to issue an executive order revoking the tax-exempt status of so-called “green” groups, those that employ lawfare to attack the U.S. and its energy industry. You know, groups like the Sierra Club, 350.org, Food & Water Watch, National Resources Defense Council, Environmental Defense Fund, and others. They’re jumpy, like they’re on drugs. (Well, some of them probably are.) The rumor spread like wildfire among the guilt-ridden groups that Trump was coming for their tax-exempt status. And then the White House said nope, it’s all just a fantasy of the jumpy left. 
MARCELLUS/UTICA REGION: Traitor Joe Manchin lands cushy board job with mining company; NATIONAL: Wall Street ends higher on hopes of trade war de-escalation; EPA continues to dismantle environmental justice office; Distillate and jet fuel contribute to record U.S. petroleum product exports in 2024; Biden’s signature Inflation Reduction Act must be repealed; The world needs People Day more than Earth Day; Shale slowdown? Halliburton sounds the alarm; Baker Hughes flags tariff impact on full-year core profit; Key court wins power American energy infrastructure; Weak oil prices, limited shale acreage to hit energy M&A in 2025, Enverus says; Natural gas price forecast – will $3.00 hold or lead to lower prices?; INTERNATIONAL: Energy security is national security, OEUK says; India cuts LNG imports as other fuels become more attractive; White House debates lifting sanctions on Russian energy assets, Nord Stream.