Interview with CNX CEO Nick DeIuliis (Part 2) – Assets & New Tech
Last week MDN editor Jim Willis had the privilege and honor of a (remote) sitdown interview with Nick DeIuliis, the CEO of CNX Resources, one of the major producers in the Marcellus/Utica. This is the second installment of that interview. In today’s portion, Jim asks Nick about CNX’s asset mix, shale and other assets. Nick also reveals some bombshell news–that CNX has applied for patents on technology that could change the future of the natural gas industry here in the U.S. Read on!
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Range Resources delivered its second quarter 2022 update yesterday. The company made an amazing $453 million in profit during 2Q. On a conference call with analysts, CEO Jeff Ventura wasted no time in delivering a shot across the bow of the Bidenistas, saying, “Energy policy will need to be rooted in market realities. If infrastructure projects, namely pipelines and LNG terminals are not prioritized and given a reasonable regulatory review, then I believe it’s simply impossible to meet the growing global demand for reliable, safe and affordable fuels.” Ba-boom! On the wonkish side, Range’s top driller, Dennis Degner, discussed the company’s strategy of drilling new wells on existing pads. Sometimes Range returns to the same pad three times. A three-peat!
In April, CNX Resources announced it had signed a contract extension with Evolution Well Services to use Evolution’s 100% natural gas-fueled electric pressure pumping equipment for another four years (see 
Pennsylvania Attorney General Josh Shapiro, who is running for governor of the Keystone State, has once again targeted a shale energy company in his zeal to prove he despises the Marcellus even more than current Gov. Tom Wolf does (burnishing his credentials with the environmental left who makes up his base). Yesterday Shapiro’s office issued a press release announcing that the Big Man has bullied Southeast Directional Drilling, a subcontractor of National Fuel Gas Supply Corporation (i.e. Seneca Resources), into pleading guilty to spilling nontoxic drilling mud into a creek so small it doesn’t have a name. Southeast will have to pay a $15,000 fine.
Bad old ideas become bad new ideas for those on the left. In June 2018, MDN exclusively brought our readers the news that Diversified Gas & Oil (now called Diversified Energy) had purchased EQT Corporation’s Huron Shale assets, with a bunch of conventional wells, in Kentucky, Virginia, and West Virginia for $575 million (see 
For the week of July 11-17, the three Marcellus/Utica states issued 47 permits to drill new shale wells, up 10 from the prior week. Pennsylvania issued the lion’s share with 35 new permits. CNX grabbed seven of those permits in Washington County, and Olympus Energy received six in Westmoreland County. Ohio issued 11 new permits, with four going to Ascent Resources in Jefferson County, and four to Hilcorp Energy in Columbiana County. West Virginia issued a paltry one new permit, which went to Southwestern Energy in Ohio County.
This is a truly brilliant move on the part of Toby Rice and those who run and manage EQT Corporation–the country’s largest natural gas producer. As you likely know (if you’re a reader of MDN), Rice has become the Apostle of Natural Gas and LNG, promoting natgas as THE solution to global warming (see 
Gulfport Energy has successfully wiggled out of legally-signed and binding long-term contracts with multiple pipeline companies, including deals that move Marcellus/Utica gas through the Rover and Rockies Express (REX) pipelines. In 2020 the Federal Energy Regulatory Commission (FERC) told Gulfport a very loud NO in breaking those contracts (see 
Pennsylvania State Police are investigating the vandalism and theft of copper from a Coterra Energy well pad on Stockholm Road in Rush Township in Susquehanna County, PA, sometime between July 8 and 14. The case appears to be your garden-variety case of lowlifes stealing copper to resell it (a “crime of opportunity”), and not some sort of statement by environmental wackos. But, one never knows with wackos…
This is one of those more bizarre court cases we’ve heard about. In April 2021, MDN reported that a group of West Virginia landowners/rights owners filed a claim against EQT, alleging the company had allowed leases to lapse, then at a later date, reentered their property and drilled new wells without permission (see 
