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Shale Insight Day 1: Toby Rice, Nick Dell’Osso, Neal Chatterjee, More
Yesterday was the first day of the two-day Shale Insight conference being held in Erie, PA. By all accounts, it was a great day. Among the all-stars presenting were Toby Rice, CEO of EQT Corporation, Nick Dell’Osso, CEO of Chesapeake Energy, Greg Floerke, COO of MPLX, and Neil Chatterjee, former Federal Energy Regulatory Commission Chairman. The important role of LNG, pipelines, regulations, and more were discussed. One of the themes of the day: Natural gas is not a bridge fuel, but the destination.
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In February 2020, EQT Corporation’s credit rating (for company-issued bonds) was designated at the “junk” (i.e. non-investment grade) level. In March of this year, two of the three top credit rating agencies–Standard & Poor’s Global Ratings and Fitch Ratings–upgraded EQT’s credit rating, returning it to investment grade (see 
Last week the three states with active Marcellus/Utica drilling, Pennsylvania, Ohio, and West Virginia, issued a collective 21 new drilling permits, down from the 30 permits issued the week before, and down from the 40 permits issued the week before that. The trend is not our friend right now. PA issued 13 permits, and OH and WV issued four permits each.
Each quarter NGI (
Earlier this month EQT Corporation announced it is buying Tug Hill Operating’s West Virginia shale assets for $5.2 billion (see 
In early August, MDN reported that Marcellus driller Coterra Energy had made $1.2 billion in profit during the second quarter of 2022 (see 
A group of roughly 60 landowners located in Fayette County, PA, have received a $5.5 million settlement from what was Chief Exploration and Development (now called Cyprus Exploration and Development) to compensate the landowners for leases signed in 2008. The landowners filed a class action lawsuit in 2011, claiming bonus and rent payments were not made.
In June, German Chancellor Olaf Scholz spoke to Canadian Prime Minister Justin Trudeau about Germany buying LNG from Canada (see 
Yesterday both Antero Midstream (the pipeline subsidiary of Antero Resources), and Crestwood Equity Partners announced a deal to sell Crestwood’s remaining Marcellus assets to Antero for $205 million. The assets include 72 miles of dry gas gathering pipelines and nine compressor stations with approximately 700 MMcf/d of compression capacity located in Doddridge County and Harrison County in West Virginia.
Last week EQT Corporation confirmed it is buying Tug Hill’s THQ Appalachia operation with major assets in West Virginia for $5.2 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 1,700 feet (one-third of a mile) away from Elizabeth Forward High School. Some of the parents of students, and some of the administration, are pushing back against Olympus’ drilling plan, using the kiddies as an excuse (see