Coterra Energy (Cabot O&G) | Energy Companies | EQT Corp | Expand Energy | Jay-Bee Oil & Gas | Lycoming County | Pennsylvania | Pleasants County | Susquehanna County | Weekly Permits | West Virginia | Wyoming County (PA)
14 New Shale Well Permits Issued for PA-OH-WV Jul 21 – 27
For the week of July 21 – 27, the number of permits issued to drill new wells in the Marcellus/Utica decreased from the previous week. There were 14 new permits issued across the three M-U states last week, three fewer than the 17 issued two weeks ago. The Keystone State (PA) issued 13 new permits. Expand Energy received seven new permits, spread across two pads in Wyoming County. EQT received four new permits for a single pad in Lycoming County. Formentera Operations received a single permit in Lycoming County. Rounding out PA, Coterra Energy received a single permit in Susquehanna County. Read More “14 New Shale Well Permits Issued for PA-OH-WV Jul 21 – 27”
EQT Corporation delivered its latest quarterly update yesterday for the second quarter of 2025. It was jam-packed. The company had a fantastic 2Q25, including closing on the acquistion of Olympus Energy for $1.8 billion, launching an open season to increase the capacity of the southbound Mountain Valley Pipeline from 2.0 to 2.5 Bcf/d, and making two deals (although not yet finalized) to provide 800 MMcf/d of natural gas for the Shippingport Power Station in Beaver County, PA, and 665 MMcf/d for the Homer City Redevelopment project in Indiana County, PA. EQT also signed an agreement to be the exclusive provider of midstream infrastructure for West Virginia’s first large-scale natural gas power plant and secured a third-party gathering contract to expand the Saturn pipeline system in West Virginia. 
Embedded in yesterday’s EQT Corporation update for the second quarter was the news that EQT’s plan to expand capacity along the existing 303-mile Mountain Valley Pipeline (MVP) from Wetzel County, WV, to Pittsylvania County, VA, is getting a “jumpstart” this year. One year ago, EQT announced a plan to expand capacity along MVP, from 2.0 billion cubic feet per day (Bcf/d) to 2.5 Bcf/d (see 
In June, EQT Corp. agreed to pay $167.5 million to investors who claimed the company overstated the benefits of its $6.7 billion merger with Rice Energy (see 
According to Enverus Intelligence Research, the upstream M&A (mergers and acquisitions) sector “hit the brakes” during the second quarter, falling 21% quarter-over-quarter to $13.5 billion. There were two Marcellus/Utica deals in the top five. Actually, our two deals were in the top three. The announcement by EOG Resources cutting a deal to buy Encino Energy in the Ohio Utica for $5.6 billion was the #1 highest value M&A deal in upstream O&G during 2Q (see 
In September 2022, EQT announced a deal to buy privately owned Tug Hill Operating’s West Virginia shale assets (90,000 acres and 800 MMcf/d of production in West Virginia) for roughly $5.2 billion (see 
In an interview with the Financial Times, EQT Corporation CEO Toby Rice stated that onerous permitting rules are hindering President Trump’s ambitions for energy dominance. Rice said Congress needs to cut project approval times to compete with Russian LNG exports and to win the AI race against China. His message was clear: Permitting reform, NOW. We’ve danced around permitting reform long enough (for years). It’s time to act. Republicans control Congress and the White House. If we can’t get permitting reform done now, it will never get done. 
In a day of big news, there was big news related to the largest gas-fired power plant project in the country, along with a massive data center complex, to be built at a former coal-fired power plant site in Indiana County, PA (see 
Yesterday, MDN informed you that CNX Resources is still considering (but not yet 100% committed) to a plan to produce sustainable aviation fuel (SAF) at Pittsburgh International Airport (PIT) using coalbed methane (see 
In April, MDN told you that EQT Corporation, the second-largest natural gas producer in the country (and the largest producer in the Marcellus/Utica) was buying out and merging in Olympus Energy for $1.8 billion (see 
A kerfuffle has erupted in Morgan Township (Greene County), PA, between drilling and pipeline giant EQT Corporation and the town over the issue of hauling heavy equipment on Morgan’s roadways. Morgan supervisors prohibited EQT from using local town roads to haul heavy equipment to work sites. On June 18, EQT filed a lawsuit against the town, which the town is sure to lose (copy below). There is word that an agreement is already in the works to settle the dispute.