EQT’s “Mixed-Index” Natural Gas is Reshaping Trading Contracts
EQT Corp’s mixed-index natural gas product blends NYMEX Henry Hub futures with one or more physical basin indices (such as Dominion South) into a single sales contract, often weighted toward Henry Hub for hedging liquidity. Splitting exposure between national futures and local spot dynamics dilutes price swings, helping power generators, LNG exporters, and large industrials reduce earnings volatility while retaining some upside from favorable regional spreads. Read More “EQT’s “Mixed-Index” Natural Gas is Reshaping Trading Contracts”
Last week was a disappointing week for new permits issued to drill shale wells in the Marcellus/Utica. The M-U region received just 8 new drilling permits from June 1 – 7, down from 30 permits issued two weeks ago. The main reason for the disappointing low number is that the Ohio Department of Natural Resources (ODNR) reported no new permits issued, which it sometimes does (and then “catches up” in the following week). Last week, Pennsylvania issued 7 permits, and West Virginia issued just 1 new permit. The drillers who received new permits included EQT, Expand Energy, and Vickery Energy. 
Back in March, MDN alerted you to a potential new water pipeline coming in Lycoming County, PA, for EQT shale drilling (see 
The Virginia Supreme Court issued a ruling last Thursday with far-reaching consequences not only for the plaintiffs who won the case (EQT and Diversified Energy) but also for other conventional and, if it ever develops, shale drillers in the state. EQT and Diversified sued Wise County, VA, alleging that Wise County’s method of valuing their assets in the county overvalued them, resulting in a much higher tax bill. The Supremes agreed and sent the case back to a lower court to rework the valuations. 
The highly functional and responsible Susquehanna River Basin Commission (SRBC), unlike its dysfunctional and irresponsible counterpart, the Delaware River Basin Commission (DRBC), continues to support the shale energy industry by approving water withdrawals and consumptive use requests for responsible, safe shale drilling. The SRBC published a notice in the May 23rd Pennsylvania Bulletin that the SRBC approved and/or renewed 33 general water use permits in April for individual shale gas well drilling pads in Bradford, Cameron, Lycoming, Sullivan, Susquehanna, Tioga, and Wyoming counties. 
EQT Corporation delivered its latest quarterly update yesterday for the first quarter of 2026. EQT sees the materialization of “in-basin demand growth” improving Appalachian market conditions through the end of the decade. The company says it is positioned as a preferred partner for large-scale power, midstream, and data center projects in the region. EQT plans to continue drilling and completing a significant number of wells throughout 2026, indicating ongoing development in the Marcellus and Utica regions. However, the company is curtailing (restricting) 10-15 Bcf (billion cubic feet) of production during the second quarter due to current low prices. 
Olympus Energy (now owned by EQT) drills in the Greater Pittsburgh region, in Allegheny and Westmoreland counties. In 2021, Olympus applied to build a new well pad in a rural part of Allegheny County, in West Deer Township. So-called Concerned Residents of West Deer (CROWD) got amped up to oppose the project. They succeeded when town supervisors rejected the Dionysus well pad (see 
In July 2024, EQT Corporation closed on a $5.4 billion deal to buy back the midstream division it had spun off in 2018 (see