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21 New Shale Well Permits Issued for PA-OH-WV Jun 2 – 8

For the week of Jun 2 – 8, the number of permits issued to drill new wells in the Marcellus/Utica fell from the previous week. There were 21 new permits issued across the three M-U states last week, down 14 from 35 issued two weeks ago. The Keystone State (PA) issued 11—half—of the new permits. Seneca Resources scored six permits for a single pad in Tioga County. EQT (under the name Rice Drilling) received four permits for two pads in Greene County. Sabre Energy received a single permit in Sullivan County. Read More “21 New Shale Well Permits Issued for PA-OH-WV Jun 2 – 8”

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Utility Companies EQT is Supplying 1.2 Bcf/d of Gas Revealed

During EQT Corporation’s third quarter 2023 update and conference call (held in October 2023), the company announced “two of the largest, long-term physical supply deals ever executed” for 1.2 billion cubic feet per day (Bcf/d) of EQT’s molecules. Those molecules will flow on the Mountain Valley Pipeline (MVP) beginning in 2027 (see EQT Sets New World Drilling Record; Deals to Sell 1.2 Bcf/d via MVP). Financial terms of the deals and the identities of the two companies receiving those molecules were not disclosed. However, EQT CEO Toby Rice said the deals were with two utility companies. This week, Argus Media published the identity of the two utility companies… Read More “Utility Companies EQT is Supplying 1.2 Bcf/d of Gas Revealed”

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DC Appeals Court Upholds FERC Extra Time to Build MVP Southgate

The MVP (Mountain Valley Pipeline) Southgate project won a major decision in the U.S. Court of Appeals for the District of Columbia (DC Circuit), affirming a decision made by the Federal Energy Regulatory Commission (FERC) to allow an extra three years to build the project. Southgate is an extension of MVP from its current termination point in Pittsylvania County, Virginia, into Rockingham County, North Carolina. Coincidentally (or not), a day before the DC Circuit’s decision clearing the way for the project, MVP filed a request with the NC Department of Environmental Quality for a permit to build the project in that state. Read More “DC Appeals Court Upholds FERC Extra Time to Build MVP Southgate”

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EQT Head of Midstream Rob Wingo Leaving for Greener Pastures

Rob Wingo

Rob Wingo is the Executive Vice President for Corporate Ventures and Midstream at EQT Corporation. He has held the position of EVP for Corporate Ventures since September 2021. He added the Midstream responsibility in October 2024 following EQT’s closing on the purchase of Equitrans Midstream. Last week, EQT filed a notice with the Securities and Exchange Commission to say that Wingo will be leaving the company effective June 20th. Read More “EQT Head of Midstream Rob Wingo Leaving for Greener Pastures”

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35 New Shale Well Permits Issued for PA-OH-WV May 26 – Jun 1

For the week of May 26 – Jun 1, the number of permits issued to drill new wells in the Marcellus/Utica increased significantly from the previous week. There were 35 new permits issued across the three M-U states last week, up 11 from 24 two weeks ago. A whopping 27 new permits were issued in the Keystone State (PA) after issuing only four permits two weeks ago. EQT and its drilling subsidiary Rice Drilling received 10 permits, all of them in Greene County, spread across two pads. Spain-based Repsol received the second most permits, five, for a single pad in Tioga County. Read More “35 New Shale Well Permits Issued for PA-OH-WV May 26 – Jun 1”

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The Future of AI Data Centers Has Been Found: It’s in Western PA

In January, MDN brought you the news that TECfusions, based in Tampa, Florida, had purchased 1,395 acres in Upper Burrell (Westmoreland County), PA, for a groundbreaking data center project called TECfusions Keystone Connect (see Massive 3 GW Gas-Fired AI/Data Center Coming to Southwest Pa.). In early April, MDN brought you the exciting news that THE largest gas-fired power plant in the country, along with a MASSIVE data center complex, will be built at a former coal-fired power plant site in Indiana County, PA (see Largest Gas-Fired Power Plant in the U.S. Coming in Western Pa.). The site will be transformed into a more than 3,200-acre natural gas-powered data center campus, complete with a 4.5 gigawatt Marcellus-fired power plant. Both projects, plus other recently announced data center projects in PA, equal a huge opportunity for Marcellus/Utica gas. These major announcements have not gone unnoticed by mainstream media. None other than the Washington Post published a major article with the title: “I have seen the future of AI. Its in Western Pennsylvania.” Read More “The Future of AI Data Centers Has Been Found: It’s in Western PA”

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M-U Driller Stock Prices Increase Due to Coming Data Center Demand

The data center high tide is lifting all gas drilling boats. That’s according to a new study from S&P Global Commodity Insights that finds the expectations of a coming boom in demand for electricity for data centers, which will create a boom in demand for natural gas to produce the electricity, is causing gas drilling companies to increase in value. It’s hard to accurately quantify the value for private companies, but for public companies (those with stock that trade on the open market), we can confirm that over the past year, the value for drillers with significant operations in the Marcellus/Utica has, on average, risen dramatically. Read More “M-U Driller Stock Prices Increase Due to Coming Data Center Demand”

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22 New Shale Well Permits Issued for PA-OH-WV Apr 27 – May 4

For the week of April 28 – May 4, the number of permits issued to drill new wells in the Marcellus/Utica was down two from the previous week. Last week, 22 new permits were issued in the M-U. In the Keystone State (PA), 10 new permits were issued. The top permittee was NFG’s Seneca Resources, which had four permits in Tioga County. PennEnergy Resource received two permits in Butler County. Expand Energy (SWN) received two permits in Lycoming County. Finally, both Coterra Energy and EQT (Rice Drilling) received a single permit, in Susquehanna and Washington counties, respectively. Read More “22 New Shale Well Permits Issued for PA-OH-WV Apr 27 – May 4”

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Olympus Energy Sale to EQT Results in 105 Layoffs at Leviathan

A few weeks ago, MDN told you that EQT Corporation, the second-largest natural gas producer in the country (and the largest producer in the Marcellus/Utica) is buying out and merging in Olympus Energy for $1.8 billion (see EQT Buying Olympus Energy for $1.8 Billion; 90K Acres, 0.5 Bcf/d). Olympus uses another company, Leviathan Energy, to manage operations and provide other services. Leviathan filed a WARN notice with the Pennsylvania Department of Labor & Industry that all of its 105 employees will be laid off in July, and the company is closing down because of the sale to EQT. Read More “Olympus Energy Sale to EQT Results in 105 Layoffs at Leviathan”

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24 New Shale Well Permits Issued for PA-OH-WV Apr 21 – 27

For the week of April 21 – 27, the number of permits issued to drill new wells in the Marcellus/Utica was down nine from the previous week. Last week, 24 new permits were issued in the M-U. In the Keystone State (PA), 17 new permits were issued. Both Coterra Energy in the northeastern part of the state and EQT Corporation in the southwestern corner received six permits each. Coterra’s permits were all issued for the same pad. EQT received five permits for a single pad in Greene County, and one permit for a pad in Washington County. Range Resources received four permits for a single pad in Beaver County, and Olympus Energy scored one permit in Westmoreland County. Read More “24 New Shale Well Permits Issued for PA-OH-WV Apr 21 – 27”

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Evolution’s Record-Breaking Marcellus Milestone Drilling EQT Well

Record-Breaking Milestone

Evolution Well Services, headquartered in Houston with a regional office in Pittsburgh, specializes in electric fracking (“e-fracking”) — using natural gas from the well pad instead of diesel fuel to power turbines that create electricity to drive fracking pumps. In a landmark achievement, EQT Corporation, the country’s second-largest natural gas producer, and Evolution Well Services, a leader in e-fracking, have set a new continuous pumping record in the Marcellus/Utica. Read More “Evolution’s Record-Breaking Marcellus Milestone Drilling EQT Well”

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33 New Shale Well Permits Issued for PA-OH-WV Apr 14 – 20

Last week was another strong week for new permits issued to drill new shale wells in the Marcellus/Utica. For the week of April 14 – 20, the number of permits was down three from the previous week, but still very strong. Last week, 33 new permits were issued in the M-U. In the Keystone State (PA), 25 new permits were issued, a dramatic increase from five two weeks ago. The top permittee was Range Resources, with 10 permits, half of which were in Allegheny County and the other half in Washington County. Seneca Resources received six permits, all of which were in Tioga County. EQT and its subsidiary Rice Drilling also scored six permits, with four in Fayette County and two in Greene County. PA General Energy got two permits in Lycoming County, and Olympus Energy received one permit in Allegheny County. Read More “33 New Shale Well Permits Issued for PA-OH-WV Apr 14 – 20”

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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”

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EQT Buying Olympus Energy for $1.8 Billion; 90K Acres, 0.5 Bcf/d

The rumor mill was right. In February, MDN brought you the juicy rumor that Olympus Energy, founded in 2012 as Huntley & Huntley Energy Exploration (a company that drills exclusively in the Pittsburgh suburbs), was being shopped for sale by its main financial backer (see Blackstone Looks to Sell M-U Driller Olympus Energy for $2 Billion). EQT Corporation, the second-largest natural gas producer in the country (which drills only in the Marcellus/Utica), released its first-quarter 2025 update late yesterday. Tucked in the update is the bombshell news that it has cut a deal to buy Olympus for $1.8 billion in stock and cash. Read More “EQT Buying Olympus Energy for $1.8 Billion; 90K Acres, 0.5 Bcf/d”

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36 New Shale Well Permits Issued for PA-OH-WV Apr 7 – 13

Last week was an interesting week for new permits issued to drill new shale wells in the Marcellus/Utica. For the week of Apr 7 – 13, the number of permits issued soared, up 15 from the previous week. Last week, 36 new permits were issued. The surprising thing is just how few of those new permits were issued in the Keystone State (PA). Just five new permits went to PA. CNX Resources had four of PA’s new permits, all for the same well pad in Westmoreland County. The other permit went to EQT in Fayette County. Read More “36 New Shale Well Permits Issued for PA-OH-WV Apr 7 – 13”

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EQT Seeks to Build 3 Miles of Gathering Pipe in Lycoming County, PA

EQT Corporation wants to build three miles of gathering pipeline to a well pad in Cascade Township, Lycoming County, PA. The Department of Environmental Protection (DEP) published a notice in Saturday’s Pennsylvania Bulletin inviting comments on a Chapter 105 Encroachment permit for a three-mile-long, 8-inch natural gas gathering pipeline being constructed on a 50-foot-wide right-of-way. Read More “EQT Seeks to Build 3 Miles of Gathering Pipe in Lycoming County, PA”