Energy Companies | Energy Services | EQT Corp | Equitrans/EQT Midstream | Industrywide Issues | M&A | Pipelines
EQT Closes Midstream JV Deal with Blackstone for $3.5 Billion
A little over one month ago, we confirmed a rumor that we previously reported regarding EQT Corporation selling a minority stake in its newly-acquired midstream assets from Equitrans to investment firm Blackstone in return for $3.5 billion in cold, hard cash (see Reuters Was Right – Blackstone Paying EQT $3.5B for Pipeline Stake). The deal is now done as of Dec. 30. Read More “EQT Closes Midstream JV Deal with Blackstone for $3.5 Billion”
In November, MDN told you that Diversified Energy and EQT Corporation had settled a class action lawsuit originally brought by several West Virginia landowners (see 
For the week of Dec 2 – 8, permits issued in the Marcellus/Utica bounced back nicely. There were 28 new permits issued last week, more than doubling the 12 issued the week before (and matching the 28 issued three weeks ago). The Keystone State (PA) issued 18 new permits, with eight going to EQT spread across three counties: Jefferson, Lycoming, and Washington. Chesapeake Energy (now Expand Energy) received four permits, all of them in northeastern PA’s Wyoming County. CNX Resource scooped up two permits, both in Westmoreland County. The final four permits were singles issued to Blackhill Energy (Bradford County), XPR Resources (Centre County), Inflection Energy (Lycoming County), and Olympus Energy (Allegheny County). 
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. 
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 
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. 