EQT Signs Third Deal to *Buy* LNG – This One Commonwealth LNG
EQT Corporation, at one time the largest natural gas producer in the U.S. (now #2 behind Expand Energy), keeps the LNG hits rolling in. Two weeks ago, the company announced that it had signed a binding contract to buy 2 million tonnes per annum (MTPA) of LNG from Phase 2 of Sempra’s Port Arthur LNG project (see EQT Announces Deal to *Buy* LNG from Sempra’s Port Arthur LNG). That deal launched the company into becoming an LNG trader, not just a gas producer. Then, last week, EQT announced a second deal to buy LNG, this time 1.5 MTPA from NextDecade’s Rio Grande LNG export facility (see EQT Announces Deal to *Buy* LNG from Rio Grande LNG Train 5). And now, for a third week in a row, EQT has announced another deal, a third deal, to buy LNG. This time, EQT will buy 1.0 MTPA from Commonwealth LNG. Read More “EQT Signs Third Deal to *Buy* LNG – This One Commonwealth LNG”
For the week of August 25 – 31, the number of permits issued to drill new wells in the Marcellus/Utica decreased from the previous week. There were 19 new permits issued across the three M-U states last week, down from 30 issued two weeks ago. Pennsylvania issued just six new permits, with two going to CNX Resources in Greene County. Another two went to EQT (including Rice Drilling), also in Greene County. Seneca Resources and Formentera Operating both received a single permit in Cameron and Lycoming counties, respectively. 
Last week, MDN brought you the news that Freeport Township, located in Greene County, PA, declared a Disaster Emergency on June 23, 2025 (see 
On Oct. 1, 2024, Chesapeake Energy announced that its buyout of and merger with Southwestern Energy in a $7.4 billion deal had been completed (see 
This is a “man bites dog” kind of story. EQT Corporation, now the second-largest natural gas producer in the U.S. (not far behind Expand Energy), has been pushing LNG (liquefied natural gas) for years. Since 2022, we’ve called EQT CEO Toby Rice the “apostle of LNG,” spreading the LNG gospel far and wide in an effort to expand U.S. LNG exports (see 
The highly functional and responsible Susquehanna River Basin Commission (SRBC), unlike its highly dysfunctional and irresponsible counterpart, the Delaware River Basin Commission (DRBC), continues to support the shale energy industry by approving water withdrawals and consumptive use for responsible and safe shale drilling. The SRBC published a notice in the August 23 Pennsylvania Bulletin that the Executive Director of the SRBC renewed 57 general water use permits in June and July for individual shale gas well drilling pads in Bradford, Clearfield, Lycoming, Sullivan, Susquehanna, Tioga, and Wyoming counties in Pennsylvania. So far in 2025, the SRBC has issued or renewed 282 general water use permits for shale gas development. 
EY, previously known as Ernst & Young, is a multinational professional services network (i.e., consulting firm) based in London. EY is also one of the “big four” largest accounting firms in the world. EY published a new study last week titled “US Oil and Gas Reserves, Production and ESG Benchmarking Study” (full copy below). The study found that due to mergers and acquisitions in 2024, the largest publicly traded oil and gas companies in the U.S. went from 50 down to 40, and that those 40 companies produced a staggering 41% of all O&G production in this country. It’s probably no surprise that many in the list produce natural gas (and oil) in the Marcellus/Utica. 
The highly functional and responsible Susquehanna River Basin Commission (SRBC), unlike its highly dysfunctional and irresponsible counterpart, the Delaware River Basin Commission (DRBC), continues to support the shale energy industry by approving water withdrawals and consumptive use for responsible and safe shale drilling. The SRBC also tells shale drillers when to stop withdrawing if low water flow (i.e., drought) conditions exist. And that’s what the SRBC did earlier today. The agency, via its Hydrologic Conditions Monitor, warned shale drillers that, at 47 listed locations (all in Pennsylvania), they must stop water withdrawals until streamflow reaches a specific “trigger flow” target (different for each location). 
According to an article on the Fortune magazine website, “AI’s endless thirst for power is driving a natural gas boom in Appalachia—and industry stocks are booming along with it.” It looks like the roles are reversing. For all of oil and gas history, oil has been the belle of the ball, the more sought-after hydrocarbon. A change is happening, at least in places like the Marcellus/Utica, where natural gas is the more sought-after commodity. And because of that, the stock price for companies that focus on gas drilling is soaring. The market capitalization (stock value times the number of outstanding shares) for M-U companies has soared 25% to 75% over the past 12 months. Wow! 
The parents of four children under the age of 18 (from three families) filed a lawsuit on their kids’ behalf against EQT subsidiaries EQT Production Company and EQT XL Midstream Operating, claiming that emissions from a nearby compressor station and nearby shale wells operated by EQT have led to severe health-related problems for the kids. The families used to live in the rural hamlet of Knob Fork in Wetzel County, WV. They all have since moved. The lawsuit seeks unspecified damages and money for ongoing monitoring of the kids’ health.