Marcellus Drilling News

Energy Companies | EQT Corp

EQT 3Q26: Beat on Spending, Not on Price; Gas Held Back Again
October 28, 2026October 28, 2026

EQT, the biggest driller in the Marcellus/Utica, released its third-quarter 2026 numbers after the market closed yesterday. Normally we’d also have a call where CEO Toby Rice and CFO Jeremy Knop take analysts’ questions. Not this time. Two days after agreeing to buy Range Resources (see our Oct. 26 post), EQT canceled the call and simply posted its press release and slide deck. So there’s no Q&A to mine. But there’s plenty in the documents. Profit fell 17% because EQT sold less gas at lower prices. It still beat Wall Street’s estimates, mostly by spending less than it said it would. And EQT again chose to leave gas in the ground rather than sell it cheap. Here’s what matters to landowners, competitors, the supply chain, and investors. Read More “EQT 3Q26: Beat on Spending, Not on Price; Gas Held Back Again”
Industrywide Issues | Regulation

Quad O, the Sequel: EPA Proposes $45 Billion Methane Rule Rollback
October 28, 2026October 28, 2026

Wait a minute. Didn’t the EPA already fix the Biden-era “Quad O” methane regs? Back in April, MDN told you the EPA had issued a final Quad O rule (see EPA Issues Final Quad O Rule Overturning Biden-Era Onerous Regs). That was true, but it was only Part 1, a narrow fix to flaring and testing rules. On Tuesday, President Trump and EPA Administrator Lee Zeldin rolled out Part 2 in Lubbock, Texas, and this is the big one. It’s a proposed wide-scale rewrite of the 2024 rules (known as OOOOb/c) that EPA says will save $45 billion. It would create separate, lighter rules for small “marginal” wells, kill the Biden “Super Emitter” program, and once again let oil drillers flare associated gas instead of being forced to pipe all of it to a sales line. It’s still only a proposal, so a public comment period and a hearing come first. Read More “Quad O, the Sequel: EPA Proposes $45 Billion Methane Rule Rollback”
Energy Companies | Range Resources Corp

Range Resources 3Q26: Production Up 12%, Debt Down, EQT Waiting
October 28, 2026October 28, 2026

Range Resources, the company that drilled the very first Marcellus Shale well back in 2004 on the Renz farm in Washington County, filed its third quarter 2026 update yesterday. It’s likely one of the last quarterly reports Range will file as an independent company. EQT announced Monday that it will buy Range in an all-stock deal worth about $13 billion (see EQT Swallows Range Resources in $50B Merger: Biggest M-U News Ever!), so this time there was no earnings call and no slide deck. All we got was a press release, a 10-Q, and some supplemental tables. Don’t let the quiet rollout fool you, though. Range had a very good quarter. Production jumped 12% to 2.50 Bcfe/d (billion cubic feet equivalent per day), liquids hit a company record of 133,173 barrels per day, and net debt fell below $800 million. Here’s what the numbers mean for landowners, competitors, the supply chain, and investors. Read More “Range Resources 3Q26: Production Up 12%, Debt Down, EQT Waiting”
Energy Companies | EQT Corp | Industrywide Issues | M&A | Range Resources Corp

EQT on Hook for $1.15B if Range Deal Falls Apart; Range Owes $423M
October 28, 2026October 28, 2026

On Monday, we brought you the news that EQT Corporation is swallowing Range Resources in an all-stock deal that values Range at roughly $12.8 billion and creates a combined company worth more than $50 billion, including debt (see EQT Swallows Range Resources in $50B Merger: Biggest M-U News Ever!). A deal this big generates a mountain of coverage, and a few important details didn’t make it into our first story. The biggest one: what happens if the deal falls apart. If it does, it could cost EQT more than a billion dollars. Read More “EQT on Hook for $1.15B if Range Deal Falls Apart; Range Owes $423M”
Energy Companies | NEQ Operating

NEQ Operating Staffs Up with Ex-Devon Execs – Eyeing the Marcellus?
October 28, 2026October 28, 2026

There’s a new name in shale with “Appalachia” on its list of regions, and we’re not sure yet what it owns here. It’s called NEQ Operating. Last May, we told you that NextEra Energy, the Florida utility giant, was buying a Quantum-backed shale investor called Caliber Resource Partners for $1.3 billion, and that it was setting up a 50/50 joint venture with Quantum to run its oil and gas business (see NextEra Energy Buying Shale Investor Caliber Resource Partners). That joint venture now has a name, a website, and a full management team. On Tuesday (Oct. 27), NEQ named its president and CFO. And here’s what caught our attention: NEQ’s CEO and its new president both came out of Devon Energy this year. Devon, of course, now owns the former Coterra Marcellus position in northeast Pennsylvania, and it’s been weighing whether to sell it. Read More “NEQ Operating Staffs Up with Ex-Devon Execs – Eyeing the Marcellus?”
AI | Electrical Generation | Industrywide Issues | Pipelines

AI Giant Anthropic Tells Wall Street It Needs Gas—and Pipelines
October 28, 2026October 28, 2026

Anthropic, the San Francisco company behind the Claude artificial intelligence (AI) chatbot, filed its initial public offering (IPO) paperwork with the Securities and Exchange Commission (SEC) on Monday (Oct. 26). Buried in the 318-page prospectus, in a risk section titled “Electrical Power and Fuel Constraints,” is an admission that should make every Marcellus/Utica driller, pipeline company, and royalty owner sit up and take notice: some of Anthropic’s planned data centers will run on their own dedicated, on-site natural gas-fired power plants. And Anthropic’s big worry isn’t the gas itself. It’s getting enough pipeline capacity to deliver it. Read More “AI Giant Anthropic Tells Wall Street It Needs Gas—and Pipelines”
CNG/LNG | Energy Companies | EQT Corp | Exporting | Industrywide Issues

Anchors Aweigh! EQT Leases LNG Tankers Named Marcellus and Utica
October 28, 2026October 28, 2026

Here’s a story that made us smile this morning. EQT, about to become the country’s biggest natural gas producer once its ~$12.8 billion takeover of Range Resources closes, is leasing two brand-new LNG tankers. And EQT is naming them… wait for it… the Marcellus and the Utica! The ships arrive in 2028. Meanwhile, EQT plans to start trading LNG cargoes as soon as next year, open offices in London and Singapore, and possibly lease up to 10 more ships. Appalachian gas, on EQT-leased ships, with the names of our two great shale plays painted on the side. What’s not to love? Read More “Anchors Aweigh! EQT Leases LNG Tankers Named Marcellus and Utica”
Best of the Rest

MDN’s Energy Stories of Interest: Wed, Oct 28, 2026
October 28, 2026October 28, 2026

OTHER U.S. REGIONS: Freeport LNG feedgas cuts knock US demand from recent highs; Vermont families who electrified say they are trapped as utilities keep raising rates; Distributed Energy Infrastructure constructs 3.37 MW solar on bedrock in Upstate NY; RGGI allowance resales – ratepayer costs that don’t fund NY state benefits; Rural North Carolina county residents fight gas pipeline; NATIONAL: U.S. natural gas futures settle higher; Constellation secures conditional DOE loan of up to $5B for nuclear; EPA’s carbon repeal saves billions, protects energy supplies; LA Times recycles “industry knew” playbook against plastics; Energy on edge ahead of USA midterms; INTERNATIONAL: Oil slips as Iran diplomacy picks up; GHG Protocol to push back stricter Scope 2 reporting rules after corporate objections; ICE TTF options hit record open interest as buyers hedge gas prices. Read More “MDN’s Energy Stories of Interest: Wed, Oct 28, 2026”