Low Prices Prompt “Fresh Cutbacks” in NatGas Production Says WSJ
Despite one of the hottest summers on record, natural gas prices are in the crapper. The abysmal price situation is causing big drillers in the Marcellus/Utica, like EQT and Coterra, to cut back even further on natural gas production, according to an article in the Wall Street Journal. Coterra CEO Tom Jorden recently told investors that “gas markets are oversupplied,” and his company will trim production by an extra 325 MMcf/d (see Coterra 2Q – Trimming Another 325 MMcf/d of Marcellus Gas).
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For the week of August 5 – 11, a total of 26 permits were issued to drill new shale wells in Marcellus/Utica, with the vast majority issued in Pennsylvania. The Keystone State had 21 new permits, with an eye-popping 19 going to EQT split between Greene and Washington counties (in the southwestern part of the state), and two issued to Range Resources in Beaver County. Ohio issued five new permits last week, with four going to Ascent Resources in Jefferson County and one to Encino Energy (EAP) in Guernsey County. West Virginia’s online data service is currently out of order, and there is no ETA for when it will be fixed, so we have no permits to report for the Mountain State. 
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 
An important milestone was reached on Wednesday regarding the Appalachian Regional Clean Hydrogen Hub (ARCH2). You may recall that ARCH2 was one of seven projects to win the Bidenista Hunger Games competition to receive a chunk of $7 billion to build a regional hydrogen hub (see 
Yesterday, EQT Corporation, the country’s largest natural gas producer, issued its second quarter 2024 update. We’re dedicating another post to chronicling other news coming from the update. This post is dedicated to the most significant news from the update: EQT has decided to keep the newly christened 2.0 Bcf/d Mountain Valley Pipeline (MVP) instead of selling it. Not only that, but EQT wants to expand the pipeline’s capacity from 2.0 to 2.5 Bcf/d as soon as possible.
MDN’s lead story today is that EQT Corporation has decided to retain majority ownership in Mountain Valley Pipeline (MVP) and expand the pipe’s capacity with compressors asap (see EQT’s Game Plan Changed – Keep MVP & Expand Extra 0.5 Bcf/d). This post deals with the other (big) news coming from yesterday’s second quarter 2024 update. Namely, EQT is looking to sell the rest of its non-operated assets in the northeastern Pennsylvania Marcellus. In addition, we learned that EQT is still curtailing (limiting) production through the second half of 2024.
In April, MDN brought you the news that EQT Corporation, the largest natural gas producer in the country (totally focused on the Marcellus/Utica) had signed two agreements with Glenfarne Energy’s Texas LNG Brownsville export facility to liquefy 2.0 million tons per annum (MTPA) of EQT-extracted shale gas (see 
In November 2018, under intense pressure from activist investors, EQT split itself into two companies: EQT Corporation and Equitrans Midstream (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. On June 13, the SRBC board approved 19 new water withdrawal requests within the basin, seven of them for water used in drilling and fracking shale wells in Pennsylvania. The Marcellus/Utica shale drillers (and one water company) receiving a green light from SRBC included BKV (3 requests), EQT, Keystone Clearwater Solutions, Seneca Resources, and Southwestern Energy.
