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Where M-U Drilling is Now, Where Might It Be Headed Next
According to an extensive report appearing on the World Oil website (and in the November issue of the magazine), multiple possible futures lie ahead for the Marcellus and Utica shales. So, which future will come to pass? Today, both industry and government see the Marcellus and Utica formations as tremendous opportunities for companies and state governments, with domestically produced energy, jobs, and a huge economic impact. Read More “Where M-U Drilling is Now, Where Might It Be Headed Next”
When EQT first announced it intended to build the Mountain Valley Pipeline (MVP), stretching from Wetzel County, WV, to Pittsylvania County, VA, the project came with an estimated price tag of $3.5 billion and an estimated completion date of 2018 (see 
For the week of Nov 18 – 24, permits issued in the Marcellus/Utica continued to be strong, with 28 new permits issued, down just two from the 30 issued the prior week. The Keystone State (PA) issued 11 new permits, with five going to CNX Resources, all in Allegheny County. Two permits were issued to Southwestern Energy (now Expand Energy) in Lycoming County. The remaining four were single permits issued to EQT Corporation (Greene County), Infinity Natural Resources (Indiana County), Range Resources (Washington County), and Apex Energy (Westmoreland County). 
As we’ve stated many times, we’re not fans of so-called “net zero.” Net zero emissions refer to balancing the amount of greenhouse gases (GHG) emitted into the atmosphere with an equivalent amount of GHG removed, resulting in no net increase in atmospheric GHG concentrations. Scope 1 and 2 emissions are part of the broader framework defined by the Greenhouse Gas Protocol, which divides emissions into three categories (Scopes 1, 2, and 3) based on their source. We told you in October that EQT Corporation had achieved net zero for Scopes 1 and 2 about a year earlier than expected (see 
Just about one month ago, Reuters reported that sources “familiar with the matter” whispered to its reporters that private equity firm Blackstone is “in advanced talks” to acquire minority stakes in the interstate natural gas pipelines now owned by EQT Corp. (following its purchase of Equitrans Midstream) for a whopping $3.5 billion (see 
The highly functional and responsible Susquehanna River Basin Commission (SRBC), unlike its completely dysfunctional and irresponsible cousin, the Delaware River Basin Commission (DRBC), continues to support the shale energy industry by approving water withdrawals for responsible and safe shale drilling. The Pennsylvania Bulletin from this past Saturday (Nov. 23) carried an official notice from the SRBC that the agency’s Executive Director gave his approval to one new and 41 renewed general water use permits in October for individual shale gas wells in Bradford, Centre, Clearfield, Clinton, Lycoming, Susquehanna, Tioga and Wyoming counties. 
In August, MDN brought you up to speed on a lawsuit filed by several West Virginia landowners (turned into a class action) against Diversified Energy and EQT over EQT’s sale of 11,350 conventional wells and 2.5 million acres of leases spread across several states, including West Virginia (see 
Yesterday, Hart Energy held its DUG Appalachia Conference and Expo in Pittsburgh. DUG stands for Developing Unconventional Gas. According to press accounts, folks were smiling, and the atmosphere was a lot more optimistic following Donald Trump’s crushing victory over The Cackler. A number of Marcellus/Utica luminaries attended, including EQT Corp. CEO Toby Rice. In a keynote speech to attendees, Rice had one of (perhaps THE) most memorable lines of the day. He said, “We’re in a different world, and it’s not about drilling, it’s about ‘build baby, build,’ and we need more pipelines.” 
According to Hart Energy, “massive” transformations are “shaking” the natural gas industry along the Gulf Coast via new pipelines in Texas and LNG export plants in Louisiana. However, the nation’s largest gas field on the eastern side of the U.S., the Marcellus Shale, is not seeing the same transformations. Why? “CEOs are often fighting political battles for permission to build infrastructure.” According to EQT Corp. CEO Toby Rice, the solution is to get back to building new pipelines. If only we could… 
EQT Corporation delivered its third quarter 2024 update yesterday. The big focus for EQT during 3Q was closing on the purchase and beginning the reintegration of its long-lost midstream division, called Equitrans Midstream (owner of the Mountain Valley Pipeline). CEO Toby Rice said, “All cylinders are firing,” and that 60% of the tasks needed for the integration have already been done. The company produced 581 Bcfe in 3Q, which is an average of 6.3 Bcfe per day—about a half Bcf less than the new Expand Energy. EQT is now in second place on the list of top natgas producers in the U.S. It wouldn’t take much for EQT to regain the top spot if it wanted to. 
As part of its third quarter update, EQT Corporation, now the second-largest natural gas producer in the U.S., dropped the bombshell that it has completely divested from the remaining non-operated wells it owns in northeastern Pennsylvania, selling the assets to Norwegian company Equinor (formerly known as Statoil) for $1.25 billion. You may recall in April, EQT did a deal with Equinor to swap land in Pennsylvania and Ohio, plus receiving $500 million from Equinor to sweeten the pot (see 
Last Friday, Reuters reported that sources “familiar with the matter” whispered to its reporters that private equity firm Blackstone is “in advanced talks” to acquire minority stakes in the interstate natural gas pipelines now owned by EQT Corp. (following its purchase of Equitrans Midstream) for a whopping $3.5 billion. The deal would help EQT reduce the debt it accumulated from buying Equitrans.