EQT CEO Rice Says Build More Pipelines to Bring Down Utility Bills
EQT Corporation CEO Toby Rice, along with two other speakers (one from Enbridge and one from investment firm Engine No. 1) spoke on a panel at last week’s Bloomberg event called “Barrel of Tomorrow in the Age of AI” held in Houston. Rice and the others had some interesting comments about the current high price of electric and heating bills in the U.S. and how to decrease them. Their recommended solution to lower energy costs for U.S. residents is to build more natural gas pipelines. Rice also provided insight into the breakeven price that “marginal” producers need to break even and generate returns. Read More “EQT CEO Rice Says Build More Pipelines to Bring Down Utility Bills”
Recently, two neighboring towns in Greene County, PA, declared a Disaster Emergency related to a “frac-out” at the EQT Lumber well that happened three years ago, in July 2022 (see 
Evolution Well Services, headquartered in Houston with a regional office in Pittsburgh, specializes in electric fracking (“e-fracking”) — using natural gas from the well pad instead of diesel fuel to power turbines that create electricity to drive fracking pumps. It’s a much quieter, less-polluting version of fracking. EQT Corporation, the country’s second-largest natural gas producer, uses Evolution Well Services for much (all?) of its drilling. Evolution and EQT issued an announcement yesterday about a series of record-breaking achievements they’ve made in the Marcellus/Utica. 
EQT Corporation, at one time the largest natural gas producer in the U.S. (now #2 behind Expand Energy), recently signed its third deal to buy LNG from a Gulf Coast liquefaction plant, positioning the company as an LNG trader in addition to being the second largest natural gas producer in the country and a major midstream player (see 
For the week of September 1 – 7, the number of permits issued to drill new wells in the Marcellus/Utica decreased from the previous week. There were 11 new permits issued across the three M-U states last week, down from 19 issued two weeks ago (and way down from 30 issued three weeks ago). Pennsylvania issued just three new permits, with one each going to Expand Energy, EQT Corporation, and Range Resources in Bradford, Greene, and Washington counties, respectively. 
The AI Horizons Pittsburgh Summit, held in Pittsburgh from Wednesday of this week through today, brought together Pennsylvania Governor Josh Shapiro, Senator David McCormick, and dozens of top AI (artificial intelligence) and industry CEOs to spotlight how Pennsylvania is leading with AI that solves complex problems, drives economic growth, and accelerates breakthroughs. One of the industry CEOs speaking yesterday was EQT CEO Toby Rice. He said natural gas in the Marcellus Shale and elsewhere will be key for the future of AI in the U.S. 
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 
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.