EQT Corp

Ascent Resources | Butler County | Carroll County | Chesapeake Energy | Coterra Energy (Cabot O&G) | Energy Companies | EQT Corp | Gulfport Energy | Harrison County | INR/Infinity Natural Resources | Ohio | Ohio County | PennEnergy Resources | Pennsylvania | Range Resources Corp | Southwestern Energy | Sullivan County | Susquehanna County | Washington County | Weekly Permits | West Virginia

26 New Shale Well Permits Issued for PA-OH-WV Oct 23 – 29
November 3, 2023November 3, 2023

New shale permits issued for Oct 23 – 29 in the Marcellus/Utica increased again. There were 26 new permits issued last week, versus 22 the week before. Last week’s permit tally included 18 new permits in Pennsylvania, 7 new permits in Ohio, and 1 new permit in West Virginia. Coterra Energy was the top permittee for the week, drawing 7 permits in Susquehanna County, PA. Chesapeake Energy was #2 with 5 permits issued in Sullivan County, PA.
Read More “26 New Shale Well Permits Issued for PA-OH-WV Oct 23 – 29”
Energy Companies | EQT Corp

EQT Sets New World Drilling Record; Deals to Sell 1.2 Bcf/d via MVP
October 27, 2023October 27, 2023

EQT Corporation, currently the largest producer of natural gas in the U.S., provided its third quarter update yesterday. And wow! There is plenty to talk about. The company set another drilling world record of 18,264 feet in 48 hours, beating the existing world record set by EQT in the second quarter (see EQT Sets World Drilling Record; Tug Hill Deal to Close Next 30 Days). CEO Toby Rice announced the company recently signed two long-term deals with natural gas customers who will buy EQT’s molecules from the Mountain Valley Pipeline (MVP) when it gets completed. The two deals collectively add up to 1.2 Bcf/d heading to the southeastern U.S.
Read More “EQT Sets New World Drilling Record; Deals to Sell 1.2 Bcf/d via MVP”
Ascent Resources | Chesapeake Energy | Energy Companies | EQT Corp | Greene County (PA) | Guernsey County | Harrison County | Ohio | Pennsylvania | Range Resources Corp | Southwestern Energy | Susquehanna County | Washington County | Weekly Permits | Wyoming County (PA)

22 New Shale Well Permits Issued for PA-OH-WV Oct 16 – 22
October 27, 2023October 27, 2023

New shale permits issued for Oct 16 – 22 in the Marcellus/Utica rebounded. There were 22 new permits issued last week, versus 14 the week before. Last week’s permit tally included 17 new permits in Pennsylvania, 5 new permits in Ohio, and no new permits in West Virginia. Chesapeake Energy was the top permittee for the week, drawing 7 permits between two counties in PA: Susquehanna and Wyoming (northeastern part of the state). EQT had 5 permits across two PA counties: Greene and Washington (southwestern part of the state). And Ascent Resources had 5 permits in Ohio in two counties: Guernsey and Harrison.
Read More “22 New Shale Well Permits Issued for PA-OH-WV Oct 16 – 22”
Clean Energy E&P | Energy Companies | EQT Corp | Greene County (PA) | JKLM Energy | Lycoming County | Marshall County | Pennsylvania | Pennsylvania General Energy | Tioga County (PA) | Weekly Permits | West Virginia

14 New Shale Well Permits Issued for PA-OH-WV Oct 9 – 15
October 20, 2023October 20, 2023

New shale permits issued for Oct 9 – 15 in the Marcellus/Utica gyrated once again, dropping to about half from the previous week. There were 14 new permits issued last week, versus 23 the week before. Last week’s permit tally included 12 new permits in Pennsylvania, no new permits in Ohio, and 2 new permits in West Virginia. EQT was the top permittee for the week, drawing 6 permits in Greene County, PA. PA General Energy was second with 4 permits in Lycoming County.
Read More “14 New Shale Well Permits Issued for PA-OH-WV Oct 9 – 15”
Energy Companies | EQT Corp | Hydrogen | Industrywide Issues | Pennsylvania | Statewide PA

EQT Confirms Plan to Produce Jet Fuel from NatGas, but Few Details
October 17, 2023October 17, 2023

Yesterday, we brought you the great news that the Marcellus/Utica region scored one of seven major hydrogen hub project grants being dished out by the Bidenistas (see Hydrogen Hub Winners Announced – WV Takes Prize in M-U Region). As we pointed out, West Virginia is the big winner, hosting most of the 15 projects associated with the Appalachian Regional Clean Hydrogen Hub (ARCH2). However, other states, including Ohio, Kentucky, and even Pennsylvania, will also benefit by having some projects related to ARCH2 funding located in those respective states. One such project, that we are just now becoming aware of, is a plan by EQT to manufacture low-carbon aviation fuel using natural gas as a feedstock.
Read More “EQT Confirms Plan to Produce Jet Fuel from NatGas, but Few Details”
Energy Companies | EQT Corp | Industrywide Issues | M&A | Statewide WV | Tug Hill Operating | West Virginia

FTC Finalizes Consent Order from EQT Purchase of Tug Hill WV Assets
October 11, 2023October 11, 2023

Nearly one year after EQT announced a deal to buy privately-owned Tug Hill Operating’s West Virginia shale assets for roughly $5.2 billion (see Confirmed: EQT Buys Tug Hill’s THQ Appalachia for $5.2 Billion), the deal was finally completed in August (see EQT Finally Completes Acquisition of Tug Hill and XcL Midstream). Both EQT and Tug Hill’s backer, Quantum Energy Partners, announced the deal was consummated. But was it?
Read More “FTC Finalizes Consent Order from EQT Purchase of Tug Hill WV Assets”
Allegheny County | Energy Companies | EQT Corp | Pennsylvania

EQT Plaza in Downtown Pittsburgh May Convert to Residential
October 11, 2023October 11, 2023

EQT Plaza

Is EQT getting ready to leave downtown Pittsburgh? The office building in Pittsburgh that bears the company’s name, EQT Plaza, has 32 floors and is the 13th largest office building in the city. In October 2019, MDN told you that EQT was looking to sublease space in its mammoth downtown office building (see EQT Looks to Sublease HQ Space – Leaving Downtown Pittsburgh?). The company shrunk its use to just 15 floors. Then, in February 2020, EQT announced it was shrinking its use of the building again, down to a piddly five floors (see EQT Subleasing Most of its Downtown Pittsburgh Office Building). Given the City of Pittsburgh’s hostility to the shale industry (and given various rumors we had heard), we theorized that EQT was getting ready to leave downtown. However, the company has a lease until 2024 (EQT does not actually own the building). EQT Plaza’s owner, Highwoods Properties, recently spoke to the Pittsburgh Business Times about potential plans for the building.
Read More “EQT Plaza in Downtown Pittsburgh May Convert to Residential”
Anti-Drilling/Fossil Fuel | Chevron | Energy Companies | EQT Corp | Industrywide Issues | Litigation | Pennsylvania | Regulation | Washington County

EHB to Review DEP Finding of No PFAS Contamination by Chevron Well
October 10, 2023October 10, 2023

Last November, MDN told you about a lawsuit filed by a family in Washington County, PA, against Chevron (now EQT) for drilling and fracking done in 2011-2012 near the family’s home (see PA Lawsuit Blames Chevron Fracking for PFAS Chemicals in Water Well). The lawsuit alleges Chevron used PFAS or “forever chemicals” in the fracking solution, and that those chemicals had leaked into the family’s water well. The PA Dept. of Environmental Protection (DEP) investigated and found that water contaminated with PFAS from Chevron’s drilling more than a decade ago did NOT pollute the family’s water well (see DEP Finds Chevron Drilling Did Not Contaminate Water Well with PFAS). The family, using a well-known anti-Marcellus lawyer, appealed the DEP finding. The Environmental Hearing Board (EHB), a special court in PA that hears appeals of DEP decisions, said it would review the DEP’s findings.
Read More “EHB to Review DEP Finding of No PFAS Contamination by Chevron Well”
Apex Energy | Butler County | CONSOL Energy | Energy Companies | EQT Corp | HG Energy | Lewis County | Lycoming County | Marion County | Monongalia County | Ohio County | Olympus/Huntley & Huntley | PennEnergy Resources | Pennsylvania | Southwestern Energy | Weekly Permits | West Virginia | Westmoreland County

23 New Shale Well Permits Issued for PA-OH-WV Sep 25 – Oct 1
October 6, 2023October 6, 2023

New shale permits issued for Sep 25 – Oct 1 in the Marcellus/Utica were up a few ticks from the previous week. There were 23 new permits issued last week, up from 21 permits issued two weeks ago. Last week’s permit tally included 10 new permits in Pennsylvania, no new permits in Ohio, and a surprising 13 new permits in West Virginia. Two companies tied for top permittee, one you know, one you may not know. Olympus Energy received 5 permits to drill in Westmoreland County, PA. Consol Mining Company received 5 permits to drill in Monongalia County, WV. Consol used to own CNX Resources before spinning off CNX into its own company. Consol concentrates on coal mining. We were surprised to see Consol wandering back into shale drilling.
Read More “23 New Shale Well Permits Issued for PA-OH-WV Sep 25 – Oct 1”
Beech Resources | Belmont County | Butler County | CNX Resources | Energy Companies | EQT Corp | Gulfport Energy | Lycoming County | Ohio | Ohio County | PennEnergy Resources | Pennsylvania | Southwestern Energy | Washington County | Weekly Permits | West Virginia | Wetzel County

21 New Shale Well Permits Issued for PA-OH-WV Sep 18 – 24
September 29, 2023September 29, 2023

New shale permits issued for Sep 18 – 24 in the Marcellus/Utica were roughly the same as the prior week. There were 21 new permits issued last week, down 1 from permits issued two weeks ago. Last week’s permit tally included 11 new permits in Pennsylvania, 4 new permits in Ohio, and 6 new permits in West Virginia. Three companies tied for top permittee last week: PennEnergy Resources with 5 permits in Butler County, PA; CNX Resources with 5 permits in Washington County, PA; and Southwestern Energy with 5 permits spread between Wetzel and Ohio counties in WV.
Read More “21 New Shale Well Permits Issued for PA-OH-WV Sep 18 – 24”
Antero Resources | Chesapeake Energy | CNX Resources | Commodity Price | Coterra Energy (Cabot O&G) | Energy Companies | EQT Corp | Gulfport Energy | Industrywide Issues | Range Resources Corp | Southwestern Energy

Major U.S. Shale Drillers Hedged 2H23 Gas Production Avg. $3.35
September 28, 2023September 28, 2023

According to an analysis by S&P Global Commodity Insights, large U.S. shale gas drillers (namely Marcellus/Utica drillers) have hedged (pre-sold at a specific price) an average of 50% of anticipated shale gas production for the second half of 2023. The average price of the hedges is $3.35/Mcf, far above the average NYMEX Henry Hub price that has been bumping along between $2.25 and $2.75. CNX Resources is the top hedger, hedging 80% of its production in 2H23 at $3.04/Mcf.
Read More “Major U.S. Shale Drillers Hedged 2H23 Gas Production Avg. $3.35”
BKV/Banpu | Bradford County | Chesapeake Energy | Coterra Energy (Cabot O&G) | Energy Companies | EQT Corp | Industrywide Issues | Lycoming County | Pennsylvania | Pennsylvania General Energy | Range Resources Corp | Regulation | Repsol | Seneca Resources | Southwestern Energy | Sullivan County | Susquehanna County | Tioga County (PA)

SRBC Approves Water Permits for 34 Shale Well Pads in NE Pa.
September 25, 2023October 28, 2024

In August, the Executive Director of the Susquehanna River Basin Commission (SRBC) approved 34 water-use permits for individual shale gas well drilling pads in Bradford, Lycoming, Sullivan, Susquehanna, and Tioga counties. We’re just learning of the action via an official notice published in the Sept. 23 edition of the Pennsylvania Bulletin. The approvals, which are NOT subject to public review according to SRBC regulations, are general water permits. Each site will be required to receive a specific water withdrawal approval at a later date.
Read More “SRBC Approves Water Permits for 34 Shale Well Pads in NE Pa.”
CNG/LNG | Energy Companies | EQT Corp | Exporting | Industrywide Issues | Pipelines

Toby Rice Still in Love with LNG, Wants New East Coast Exports
September 25, 2023September 25, 2023

Toby Rice, CEO of EQT

The CEO of EQT Corporation, Toby Rice, spoke at a recent University of Texas symposium hosted at the Kay Bailey Hutchison Energy Center. EQT is the U.S.’s number one natural gas producer, with current production hovering around 5.5 Bcf/d. Among Rice’s comments and predictions: The world is “still one event away” from another energy event. Volatility is still a reality “until we get more infrastructure built.” Rice said while adding solar and wind to the grid is “not a problem,” it needs a backup. Without natural gas, solar and wind are unreliable energy sources.
Read More “Toby Rice Still in Love with LNG, Wants New East Coast Exports”
BKV/Banpu | Coterra Energy (Cabot O&G) | Energy Companies | EQT Corp | Industrywide Issues | Inflection Energy | Pennsylvania | Regulation | Repsol | S.T.L. Resources | Seneca Resources | Statewide PA

SRBC Approves 8 New Water Withdrawal Requests for Shale Drilling
September 22, 2023September 22, 2023

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. Last week, the SRBC approved 22 new water withdrawal requests within the basin, eight of which are for water used in drilling and fracking shale wells in Pennsylvania. The Marcellus/Utica shale drillers receiving a green light from SRBC included BKV (Banpu), Coterra Energy, EQT, Inflection Energy, Repsol (2 requests), Seneca Resources, and S.T.L. Resources.
Read More “SRBC Approves 8 New Water Withdrawal Requests for Shale Drilling”
Antero Resources | Chesapeake Energy | CNX Resources | Coterra Energy (Cabot O&G) | Energy Companies | EQT Corp | Gulfport Energy | Range Resources Corp | Seneca Resources | Southwestern Energy

M-U Drilling Profits Hit Two-Year Low, Better Days Ahead?
September 22, 2023September 22, 2023

Investors in shale oil and gas companies suffered for years with little or no returns for the money they invested. Five of eight large Marcellus/Utica drillers saw their share prices decrease by an astonishing 85% or more from 2008 to 2019 (see Former EQT CEO: Shale Revolution a “Disaster” for Investors). Just before the COVID pandemic hit, shale companies began to change and focus on less drilling and more profitability, which began to turn things around. Then Russia illegally (and unprovoked) invaded Ukraine, driving oil and gas prices to record highs (see How Did M-U Gas Drillers Spend Their 2022 Record Haul of Cash?). Over the past year (five quarters), prices for gas and largely for oil have once again crashed, and along with it, a crash in profits for drillers.
Read More “M-U Drilling Profits Hit Two-Year Low, Better Days Ahead?”
Antero Resources | Ascent Resources | Beaver County | Bradford County | Chesapeake Energy | Doddridge County | Elk County | Energy Companies | EQT Corp | Jefferson County (OH) | Marion County | Marshall County | Ohio | Pennsylvania | Range Resources Corp | Seneca Resources | Southwestern Energy | Weekly Permits | West Virginia | Wetzel County

22 New Shale Well Permits Issued for PA-OH-WV Sep 11 – 17
September 22, 2023September 22, 2023

New shale permits issued for Sep 11 – 17 in the Marcellus/Utica rebounded. There were 22 new permits issued last week, up from 14 issued two weeks ago. But the increase came from an unlikely source. Last week’s permit tally included 9 new permits in Pennsylvania, 1 new permit in Ohio, and 12 new permits in West Virginia. WV is typically on the low end of permits, not the high end. The top permittee for the week was Antero Resources, which received 6 permits in WV. EQT was a close second with 5 permits in WV.
Read More “22 New Shale Well Permits Issued for PA-OH-WV Sep 11 – 17”