EQT, Diversified Ask WV Fed Court to Toss Abandoned Well Lawsuit
Last summer, MDN brought you the news about a lawsuit against Diversified Energy and EQT over the issue of old and “abandoned” wells in West Virginia (see Big Green Uses WV Landowners to Sue EQT, Diversified re Old Wells). In April, a West Virginia federal judge allowed that lawsuit to continue as a class action (see Fed Court Rules EQT, Diversified Must Face WV Class Action). However, it appears to us (untrained in the ways of the law) that perhaps the lawsuit is in trouble. The plaintiffs keep amending their complaint, dropping bits and pieces, hoping to keep it alive. The fourth complaint (the third time amending it) was filed in June. Diversified and EQT have just filed a strong motion to dismiss the latest complaint (i.e. dismiss the lawsuit).
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The weather has been fantastic for those of us living in the northeastern U.S. over the past few weeks. Clear blue skies (when they aren’t clouded with wildfire smoke from Canada), really warm temperatures, and absolutely no rain to spoil outdoor activities. Here in the Binghamton, NY area, we went from a surplus of rain and swollen rivers and lakes just a month ago to a rain deficit today. Lawns and fields and beginning to turn brown. Hey, we’re not complaining! But we do need some rain. The lack of rain in the Susquehanna River Basin has triggered water withdrawal restrictions for 42 oil and gas drillers and four other large water users (46 in all) by the Susquehanna River Basin Commission (SRBC). In many cases, the SRBC order is to “cease withdrawal.”
Diversified Energy (formerly Diversified Gas & Oil), with major assets in the Marcellus/Utica region (other regions too), owns approximately 8 million acres of leases with 65,000 (mostly) conventional oil and gas wells. The company’s business model is to buy lower-producing wells on the cheap and find ways to make them more productive. Last week the company issued its fourth annual ESG report, titled “Decarbonizing While Delivering” (full copy below). Across its 10-state operations, Diversified added more than $1 billion in GDP to various state economies, supported more than 8,600 direct and indirect jobs, and generated $500 million in federal, state, and local revenues. On the environmental front, Diversified Energy reduced methane intensity by 20% overall and by more than 30% in the Marcellus/Utica.
Last summer, MDN brought you the news about a lawsuit against Diversified Energy and EQT over the issue of old and “abandoned” wells in West Virginia (see 
Diversified Energy (formerly Diversified Gas & Oil), with major assets in the Marcellus/Utica region (and other regions too), owns approximately 8 million acres of leases with close to 70,000 (mostly) conventional oil and gas wells. The company’s business model is to buy lower-producing wells on the cheap and find ways to make them more productive. One of the new ways Diversified is looking to make money with old wells is by mining cryptocurrency at wells in remote locations not hooked to a pipeline network. Diversified wants to try it with a well in northwestern Pennsylvania. Unsurprisingly, it’s generating some controversy…
New shale permits issued for Jan. 23-29 in the Marcellus/Utica soared! There were 59 new permits issued in total, including 34 (!) new permits for Pennsylvania, 24 (!) new permits for Ohio, and just one measly permit issued in West Virginia. Chesapeake Energy was the runaway winner by grabbing 13 permits, all of them for wells in Bradford County, PA. EOG Resources was the runner-up, receiving eight permits for drilling in Noble County, OH.
Diversified Energy (formerly Diversified Gas & Oil), with major assets in the Marcellus/Utica region (other regions too), owns approximately 8 million acres of leases with close to 70,000 (mostly) conventional oil and gas wells. Diversified has aggressively moved to control methane emissions from its operations over the past year (see 
Now we know why Diversified Energy liked Traitor Joe Manchin’s sell-out Green New Deal law, also falsely referred to as the Inflation Reduction Act (see 
Make no mistake: The Manchin-Schumer “Soar Inflation Higher” bill is bad for the country in EVERY way, including bad for the fossil energy industry via an industry-killing methane tax (see 
Diversified Energy (sadly) continues to expand outside the Marcellus/Utica region. Yesterday the company announced it is paying $240 million to buy some of ConocoPhillips’ upstream assets in Oklahoma and Texas. The assets include roughly 1,500 wells spanning 250,000 acres. Diversified, which now owns approximately 8 million acres of leases with close to 70,000 (mostly) conventional oil and gas wells used to be solely focused on the Appalachian region–until last year.
Diversified Energy is growing again. In February, Diversified bought out and merged in well-plugging company Next LVL Energy, headquartered in the Pittsburgh area (see 
Bad old ideas become bad new ideas for those on the left. In June 2018, MDN exclusively brought our readers the news that Diversified Gas & Oil (now called Diversified Energy) had purchased EQT Corporation’s Huron Shale assets, with a bunch of conventional wells, in Kentucky, Virginia, and West Virginia for $575 million (see