EQT Corp

Accidents | Energy Companies | EQT Corp | Industrywide Issues | Litigation | Pennsylvania | Regulation | Tioga County (PA) | Wastewater

PA Attorney Gen. Kane Abuses Office Again, Arrest Warrant for EQT
October 8, 2014October 8, 2014

Last year Pennsylvania’s anti-drilling Attorney General, Kathleen Kane, abused her office and filed criminal charges against XTO Energy over a spill of fracking wastewater at a site in Lycoming County, PA that happened more than three years ago–long before she took office (see PA AG Abuses Her Authority, Files Criminal Charges Against XTO). In a Britney Spears “Oops!…I Did It Again” moment, Kane has filed a second case of criminal charges against a driller over an accident. Last week Kane filed charges against EQT over a leaky wastewater impoundment in Tioga County, PA. Yesterday the PA Dept. of Environmental Protection fined EQT $4.53 million–it’s highest ever fine–over the same incident (see today’s lead story). Kane is claiming that EQT polluted and disturbed PA waterways and committed misdemeanor crimes in the process…
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Energy Companies | EQT Corp | Industrywide Issues | Pipelines | Statewide VA | Virginia | West Virginia | Wetzel County

EQT’s WV to VA Pipeline Open Season a Success, FERC Filing in Oct
October 8, 2014October 8, 2014

In early September MDN told you that EQT and NextEra Energy were getting hitched–in a joint venture for the 330-mile Mountain Valley Pipeline project that will run from Wetzel County, WV to Pittsylvania County, VA (see EQT & NextEra Tie the Knot on WV-VA Pipeline Joint Venture). The happy couple, with EQT in charge, announced a binding open season for the proposed pipeline. Yesterday EQT said the open season has been successful with 2 billion cubic feet of capacity locked up in 20 year deals–but they’re waiting a few more days, until this Friday, before closing the door. EQT also said yesterday they expect to begin their pre-filing with the Federal Energy Regulatory Commission (FERC) later this month. Later this year they’ll begin open houses to discuss the project with communities where the pipeline will run. If everything goes according to plan, the pipeline will go online sometime around November 2018…
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Energy Companies | EQT Corp | Industrywide Issues | Pipelines

EQT & NextEra Tie the Knot on WV-VA Pipeline Joint Venture
September 3, 2014September 3, 2014

There’s a big difference between nonbinding and binding–as in open seasons. When a pipeline company wants to see if they can get any interest for building a pipeline (which involves millions of dollars of investment, sometimes billions) they start with a “nonbinding” open season. Think of it as an elaborate marketing exercise in lead generation. If the company gets good vibes from the nonbinding open season, they then move to a binding open season. It’s one thing to say “Yeah, we’ll use X capacity on that pipeline if you build it.” It’s a whole other thing to sign on the dotted line, committing to a binding contract for the next 10-20 years. It is a huge financial commitment. EQT and their joint venture partner NextEra Energy announced a new pipeline project in June. The 330-mile Mountain Valley Pipeline project would run from Wetzel County, WV to Pittsylvania County, VA (see EQT Announces New Marcellus/Utica Pipeline to Southeastern US). EQT announced yesterday the previous nonbinding open season changed to binding, an important change…
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Allegheny County | Energy Companies | EQT Corp | Industrywide Issues | Landfills | Pennsylvania | Range Resources Corp | Statewide PA | Washington County

SWPA Drillers Seriously Underreport Drill Cuttings at Landfills
September 2, 2014September 2, 2014

We’re not quite sure what to make of this story. The Pittsburgh Post-Gazette, which has trended anti-drilling in recent months, has an article that claims both EQT and Range Resources, among the largest of Marcellus drillers, are underreporting the volume of drill cuttings they send to area landfills in southwest Pennsylvania. EQT is by far the biggest “offender” in the PPG article. According to documents filed with the state Dept. of Environmental Protection (DEP), EQT estimates it sent 21 tons of drill cuttings to landfills in 2013. According to hard copy records from six landfills in SWPA, EQT actually sent 95,000 tons of drill cuttings! Yikes, that’s quite a discrepancy…
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Chesapeake Energy | Coterra Energy (Cabot O&G) | Energy Companies | EQT Corp | Pennsylvania | Range Resources Corp | Southwestern Energy | Statewide PA

PA Production Smashes Record Again – Top 10 Wells, Top 5 Counties
August 25, 2014August 25, 2014

Without a doubt the biggest story from last week, which broke on MDN’s first day off in our one-week vacation, was the new natural gas production numbers coming from Pennsylvania and the Marcellus Shale. The PA Dept. of Environmental Protection released production numbers for the first six months of 2014, which show that PA produced an incredible 1.94 trillion cubic feet during that period–up 14% from the last half of 2013 (1.697 Tcf), and comparing apples to apples, up an astonishing 38% from the same period a year ago, the first half of 2013 (1.406 Tcf). PA also produced 1.7 million barrels of condensate (or natural gasoline) and 182,000 barrels of oil. Below we list the Top 10 producing wells in 1H14. Would it surprise you to learn that 9 of the top 10 are found in the same county, drilled by one company? We also include the full list of all 7,679 wells drilled so far…
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Energy Companies | EQT Corp | Forced Pooling | Industrywide Issues | Litigation | Pennsylvania | Statewide PA

Revisiting the EQT “Forced Pooling” Lawsuit
July 30, 2014July 30, 2014

Yesterday MDN wrote a summary and interpretation of an article appearing in the Harrisburg Patriot-News about the recent court decision known as EQT Production v. Opatkiewicz, et al (see EQT’s (Mis)Use of 2013 Royalty Law Creates Forced Pooling). MDN friend and one of our legal idols–Dr. Michael Joy (with top law firm Reed Smith, holder of advanced degrees in both geology and the law) wrote to tell us–you’re wrong about your opinion of that case! When someone of Michael’s stature tells you you’re wrong, you step back and do some reflecting to see where you came off the tracks…
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Energy Companies | EQT Corp | Forced Pooling | Industrywide Issues | Litigation | Pennsylvania | Statewide PA

EQT’s (Mis)Use of 2013 Royalty Law Creates Forced Pooling
July 29, 2014July 29, 2014

A Pittsburgh-based attorney who, it appears (from his byline) sues shale drillers for a living, nevertheless offers up an excellent article in the Harrisburg Patriot-News that helps us understand the ill-advised royalty bill signed into law one year ago this month (see PA Gov Corbett Signs Back-Door Forced Pooling Bill into Law). The bill was meant to help landowners receive better, more transparent information in their royalty statements, but at the last minute a provision was added that allows leased properties to be pooled for horizontal drilling. Immediately after the royalty bill passed, EQT used the eleventh hour provision, called Secton 2.1 of the law, to sue 70 landowners (see Bad News: EQT Sues 70 Landowners Using New PA Forced Pooling Law). As with all things legal, this is complicated, but thanks to the lawyer’s article, we now have a better understanding of it…
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Energy Companies | EQT Corp | Greene County (PA) | Pennsylvania | Utica Shale

EQT Takes the Plunge: Drilling 1st Utica Well in SWPA
July 25, 2014July 25, 2014

Yesterday EQT released an update for second quarter 2014 (see EQT 2Q14 Update: Profit & Production Way Up). The top brass for EQT also held an analyst phone call/update to discuss that update–to elaborate and add some color and additional information. It was an informative phone call. Among the most interesting items to be discussed is that EQT has finally found its way on the Utica. They plan to begin drilling what is likely the deepest Utica well ever drilled at a depth of 13,500 feet–in Greene County–Pennsylvania’s most southwestern county…
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Energy Companies | Energy Services | EQT Corp | Equitrans/EQT Midstream | Industrywide Issues | Ohio | Pennsylvania | Pipelines | Statewide OH | Statewide PA | Statewide WV | West Virginia

EQT Midstream: 2 Major Pipeline Projects Advance, 1 Doesn’t
July 25, 2014July 25, 2014

In addition to yesterday’s big news that EQT has decided to “take the plunge” and drill what is thought to be the deepest Utica Shale well yet, in Greene County, PA (see MDN’s related story today), EQT also announced yesterday their plans for their midstream operations over the coming months. CEO David Porges said EQT Midstream will spend “over $350 million” on midstream projects in 2014. The company has three major pipeline/midstream projects on the books. Porges said two of those projects are advancing while one is going “on the back burner”…
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Energy Companies | EQT Corp

EQT Analyst Presentation: Acreage Maps, Decline Curves & More
July 25, 2014July 25, 2014

It’s “EQT Day” on MDN. In addition to two other stories on EQT–one about the company drilling their first-ever Utica well in SWPA, the other about which pipeline projects made the cut and will get built–we bring you the latest analyst presentation slide deck (below). Full of interesting charts and graphs from the July 24, 2014 analyst presentation given by EQT’s management team. Here’s a guide to our favorite slides (just about all of them are our favorites!)…
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Energy Companies | EQT Corp

EQT 2Q14 Update: Profit & Production Way Up
July 24, 2014July 24, 2014

EQT posted their second quarter update today, and wow, what an update! Profit for the company is up 28% and production increased by double digits–thanks to the Marcellus Shale. Gas production was up 17% and the company’s midstream division saw a whopping 33% increase in revenue. The company says they’re still on track to produce 465-480 billion cubic feet of natural gas equivalent this year…
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Energy Companies | EQT Corp | Pennsylvania | Washington County

EQT Offers Neighbors Near Finleyville Drill Pad $50K for Nuisance
July 7, 2014July 7, 2014

ProPublica has a new story claiming that Marcellus driller (and midstream company) EQT has done something really unusual in Washington County, PA. The company, last year, was in the process of drilling 12 wells on a single pad. With all of the trucks and noise and dust, it didn’t take the neighbors long to start complaining. EQT attempted to address those concerns, meeting with neighbors and conducting air tests, etc. However, after apparently growing tired of the hassles, EQT finally just offered each household/neighbor near the pad $50,000–if those neighbors would sign a “nuisance easement” that pretty much says the neighbors absolve EQT from any damages for anything related to their drilling and pipeline operations…
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Energy Companies | Energy Services | EQT Corp | Equitrans/EQT Midstream | Industrywide Issues | Pipelines | West Virginia | Wetzel County

EQT Announces New Marcellus/Utica Pipeline to Southeastern US
June 13, 2014June 13, 2014

Yesterday CONSOL Energy and Noble Energy announced a new gathering pipeline company plan (see MDN’s story published today). Not to be outdone, EQT announced yesterday an open season for the Mountain Valley Pipeline project–a new Marcellus/Utica pipeline. According to the announcement, EQT and NextEra US Gas Assets intend to build a 330-mile pipeline from Wetzel County, WV to the Transco Pipeline in Pittsylvania County, VA to deliver abundant, cheap Marcellus and Utica Shale gas to markets throughout the southeast. An “open season” is a chance for drillers to contract a portion of the pipeline over the long term (15-20 years), commitments needed before companies like EQT will pony up the hundreds of millions needed to build a major project like this one…
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Energy Companies | EQT Corp | Guernsey County | Ohio | Utica Shale

Rumor Mill: EQT May be Leaving Guernsey County, OH
June 2, 2014June 2, 2014

Buzz buzz buzz… The rumor mill is chattering in southeast Ohio–and the rumor going around is that EQT is leaving town. Indeed, has the company already left? An enterprising Ohio reporter fired off an email to EQT asking them to confirm or deny. And the reporter got an answer, from none other than Steve Schlotterbeck, executive vice president and president, Exploration and Production for EQT Corp. What did Schlotterbeck say?…
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Antero Resources | Doddridge County | Energy Companies | Energy Services | EQT Corp | Industrywide Issues | MarkWest Energy | Processing Plants | West Virginia | Wetzel County

MarkWest Announces 2 Processing Plant Expansions in WV, 400 Mmcf/d
May 7, 2014May 7, 2014

Yesterday MarkWest Energy, arguably the biggest midstream company in the Marcellus and Utica Shale, announced it will expand two of its existing natural gas processing plants, both plants in West Virginia. At the request of Antero Resources, MarkWest will expand the Sherwood plant in Doddridge County by an extra 200 million cubic feet per day (Mmcf/d) of processing capacity. At the request of EQT, MarkWest will expand the processing capacity at the Mobley plant in Wetzel County by an additional 200 Mmcf/d. It means that Marcellus drillers are confident enough to bet big money on long-term contracts with MarkWest that the amount of gas they’re producing is going up–for years to come.

In yesterday’s announcement MarkWest noted that they currently have 17 major projects under way in the Marcellus/Utica, and that 11 of those projects will be completed this year. Here’s the details on the Sherwood and Mobley expansions…
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Energy Companies | EQT Corp | Pennsylvania | Statewide PA | Utica Shale

EQT: We’ll Let Range & Others Figure Out the Utica in SW PA
May 1, 2014May 1, 2014

Last Friday MDN told you that EQT is a bit wary and skeptical of the Utica Shale–at least in Ohio (see EQT Leaving the Utica? Maybe. Guernsey County Wells Disappoint). But what about the Utica in Pennsylvania? EQT CEO David Porges, in a Q&A with reporters yesterday, said the company is watching and waiting when it comes to the Utica in southwestern PA.

Porges said “the Utica’s potential is enormous,” but…
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