Toby Rice: Strong Power Demand Pleasantly Surprised EQT During 1H
EQT Corporation delivered its latest quarterly update yesterday for the second quarter of 2025. It was jam-packed. The company had a fantastic 2Q25, including closing on the acquistion of Olympus Energy for $1.8 billion, launching an open season to increase the capacity of the southbound Mountain Valley Pipeline from 2.0 to 2.5 Bcf/d, and making two deals (although not yet finalized) to provide 800 MMcf/d of natural gas for the Shippingport Power Station in Beaver County, PA, and 665 MMcf/d for the Homer City Redevelopment project in Indiana County, PA. EQT also signed an agreement to be the exclusive provider of midstream infrastructure for West Virginia’s first large-scale natural gas power plant and secured a third-party gathering contract to expand the Saturn pipeline system in West Virginia. Read More “Toby Rice: Strong Power Demand Pleasantly Surprised EQT During 1H”
Embedded in yesterday’s EQT Corporation update for the second quarter was the news that EQT’s plan to expand capacity along the existing 303-mile Mountain Valley Pipeline (MVP) from Wetzel County, WV, to Pittsylvania County, VA, is getting a “jumpstart” this year. One year ago, EQT announced a plan to expand capacity along MVP, from 2.0 billion cubic feet per day (Bcf/d) to 2.5 Bcf/d (see 
In June, EQT Corp. agreed to pay $167.5 million to investors who claimed the company overstated the benefits of its $6.7 billion merger with Rice Energy (see 
According to Enverus Intelligence Research, the upstream M&A (mergers and acquisitions) sector “hit the brakes” during the second quarter, falling 21% quarter-over-quarter to $13.5 billion. There were two Marcellus/Utica deals in the top five. Actually, our two deals were in the top three. The announcement by EOG Resources cutting a deal to buy Encino Energy in the Ohio Utica for $5.6 billion was the #1 highest value M&A deal in upstream O&G during 2Q (see 
Ascent Resources, founded as American Energy Partners by Aubrey McClendon, a gas industry legend, is a privately held company that focuses 100% on the Ohio Utica Shale. Ascent, headquartered in Oklahoma City, OK, is Ohio’s largest natural gas producer and the 8th largest natural gas producer in the U.S. Yesterday, Ascent published its 2024 Sustainability Report, chronicling the company’s environmental, health and safety; social; and governance (ESG) efforts and accomplishments in 2024. 
You know the old phrase “All talk and no action”? Donald Trump and his administration are the opposite—or at least, a variation. Trump does talk…a lot. But he’s also a man of action. Last week, Trump visited Pittsburgh to announce $92 billion worth of investments in the Keystone State related to AI and data centers (see 
MARCELLUS/UTICA REGION: Pittsburgh’s real renaissance has never been tried — until now; NATIONAL: Forecasts fade for heat wave, putting natural gas futures in freefall; Coal-fired power plants are well-stocked this year; No more easy ride for wind and solar (OBBB guidance, risks ahead); Promises made, promises kept – Trump and gas prices; Converging Exxon and Chevron operations could spur next mega-merger; INTERNATIONAL: Oil holds steady amid trade deal hopes.