Infinity Adds Deal-Maker (Former Olympus Energy CEO) to Board
Infinity Natural Resources announced the appointment of Timothy Dugan to its Board of Directors, effective July 13, 2026. Dugan brings more than four decades of experience in the Appalachian energy industry, spanning upstream operations, midstream infrastructure, capital allocation, and strategic transactions. He most recently served as President and CEO of Olympus Energy, leading its sale to EQT Corporation for $1.8 billion in July 2025 (see EQT Seals the Deal, Completes Olympus Energy Purchase for $1.8B). Dugan previously was EVP and COO of CNX Resources and a director of CNX Midstream Partners. Infinity CEO Zack Arnold praised Dugan’s leadership and operational expertise. We have a take on Dugan’s addition to the Infinity board that you likely won’t read elsewhere. Read More “Infinity Adds Deal-Maker (Former Olympus Energy CEO) to Board”
Olympus Energy (now owned by EQT) drills in the Greater Pittsburgh region, in Allegheny and Westmoreland counties. In 2021, Olympus applied to build a new well pad in a rural part of Allegheny County, in West Deer Township. So-called Concerned Residents of West Deer (CROWD) got amped up to oppose the project. They succeeded when town supervisors rejected the Dionysus well pad (see 
Olympus Energy (now owned by EQT) drills in the Greater Pittsburgh region, in Allegheny and Westmoreland counties. In 2021, Olympus applied to build a new well pad in a rural part of Allegheny County, in West Deer Township. So-called “concerned citizens” got amped up to oppose the project. They succeeded when town supervisors rejected the Dionysus well pad (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 
For the week of June 30 – July 6, the number of permits issued to drill new wells in the Marcellus/Utica decreased from the previous week, likely due to the July 4th holiday. There were 21 new permits issued across the three M-U states last week, down six from 27 issued two weeks ago. The Keystone State (PA) issued 13 new permits. EQT and its recently acquired Olympus Energy received a combined five permits scattered across three counties: Allegheny, Greene, and Washington. Snyder Brothers received four permits in Armstrong County. BKV scored three permits in Wyoming County. Range Resources received a single permit in Washington County. 
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 
Olympus Energy wants to drill six wells on a single pad in rural Elizabeth Township, a borough in Allegheny County, on the east bank of the Monongahela River. The pad would sit about 2,400 feet (nearly half a mile) away from Elizabeth Forward High School. Some parents of students and members of the administration pushed back against Olympus’ drilling plan, using the children as an excuse (see 
A few weeks ago, MDN told you that EQT Corporation, the second-largest natural gas producer in the country (and the largest producer in the Marcellus/Utica) is buying out and merging in Olympus Energy for $1.8 billion (see 
Huntley & Huntley Energy Exploration (HHEX), a shale driller headquartered in Southpointe (Washington County), PA, that leases ~100,000 acres and drills in the Pittsburgh suburbs, was founded in 2012. The company renamed itself to Olympus Energy in 2019 (see 
For the week of Dec 2 – 8, permits issued in the Marcellus/Utica bounced back nicely. There were 28 new permits issued last week, more than doubling the 12 issued the week before (and matching the 28 issued three weeks ago). The Keystone State (PA) issued 18 new permits, with eight going to EQT spread across three counties: Jefferson, Lycoming, and Washington. Chesapeake Energy (now Expand Energy) received four permits, all of them in northeastern PA’s Wyoming County. CNX Resource scooped up two permits, both in Westmoreland County. The final four permits were singles issued to Blackhill Energy (Bradford County), XPR Resources (Centre County), Inflection Energy (Lycoming County), and Olympus Energy (Allegheny County).