NEQ Operating

There’s a new name in shale with “Appalachia” on its list of regions, and we’re not sure yet what it owns here. It’s called NEQ Operating. Last May, we told you that NextEra Energy, the Florida utility giant, was buying a Quantum-backed shale investor called Caliber Resource Partners for $1.3 billion, and that it was setting up a 50/50 joint venture with Quantum to run its oil and gas business (see NextEra Energy Buying Shale Investor Caliber Resource Partners). That joint venture now has a name, a website, and a full management team. On Tuesday (Oct. 27), NEQ named its president and CFO. And here’s what caught our attention: NEQ’s CEO and its new president both came out of Devon Energy this year. Devon, of course, now owns the former Coterra Marcellus position in northeast Pennsylvania, and it’s been weighing whether to sell it. Read More “NEQ Operating Staffs Up with Ex-Devon Execs – Eyeing the Marcellus?”