Olympus Energy (née Huntley & Huntley Energy Expl.) Gets a New CEO
Olympus Energy, the renamed Huntley & Huntley Energy Exploration (HHEX) has a new CEO. The new guy is Tim Dugan, who joined Olympus in January as the company’s COO (see Former CNX COO Tim Dugan Becomes Olympus Energy COO). Tim is replacing Chris Doyle who is staying on the board but leaving the area to become CEO of Primexx Energy Partners, a Dallas-based oil driller.
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An unusual situation for permits to drill new wells for last week. Pennsylvania only had 5 new permits while West Virginia had 12 new permits. It’s typically the other way around. Could this be the beginning of the effects from PA raising the permit fee from $5,000 to $12,500 per well? Maybe! Ohio had no new Utica permits issued last week. Drilling seems to have slowed in the Buckeye State.
Unrepentant. That’s the best single word we can think of describing the attitude of “leaders” in Grant Township (Indiana County, PA) who illegally passed their own set of environmental laws, violating the PA state constitution, in a bid to prevent a safe saltwater injection well from being built in a rural location in the town. Grant continues to use radicalized lawyers in their lawbreaking bid to prevent the well.
Earlier this week we brought you a post exploring whether or not PTT Global Chemical will, in the end, actually build a $10 billion ethane cracker plant in Belmont County, Ohio (see 
Last year MDN shared with you the rumor that Exxon Mobil was sniffing around Pennsylvania, investigating the prospect of building a multi-billion dollar ethane cracker like the Shell cracker being built near Pittsburgh. Those rumors went on for a while and even included evaluation of the Philadelphia area, not just Pittsburgh. Last week Exxon said unequivocally they have no active plans for such a facility in the Keystone State. Bummer.
Last December Chevron announced it was writing down over $10 billion worth of its U.S. onshore shale assets, with $6.5 billion of that number coming from its Marcellus/Utica assets. Also in December, the company posted for sale ALL of their M-U assets (see 
What started out as a spat between two companies that used to be one and the same, EQT and Equitrans, has quickly turned into open warfare that’s heading for court. We’re talking about the flap over whether or not EQT has the right to buy out Equitrans’ Hammerhead pipeline, and turn around and sell it, as EQT is now trying to do (see 
There’s trouble brewing in EQT-land. Once upon a time, EQT was both a producer (drilling) and midstream (pipeline) company. But then so-called activist investors forced the company (after its merger with Rice Energy) to split in two–drilling and pipelines. The split happened in November 2018 (see 
Encino Acquisition Partners (aka Encino Energy) bought all of Chesapeake Energy’s Ohio assets for $2 billion in 2018 (see 
In mid-May the nation’s largest natural gas producer, EQT Corporation, temporarily shut-in (curtailed) roughly one-third of its natural gas production in Pennsylvania and Ohio (see