EQT People: Who Stays with Mom & Who Goes with Dad After Co Split
It’s an amicable divorce, the split of EQT into upstream (drilling) and midstream (pipelines). But it’s still a divorce, and the parents have to decide which kids will go or stay with which company. The “kids” in this case are the top managers, the executives. And we have the list. After EQT announced its plan to buy/merge in Rice Energy last year, the company got pushback from a couple of so-called activist investors (i.e. corporate raiders). One raider, Jana Partners, tried its best to stop the EQT/Rice deal outright (see Proxy Fight: Jana Partners, Atlas Tries to Stop EQT/Rice Deal). Jana slithered away after the merger happened. However, a second raider, D.E. Shaw, supported the merger but lobbied hard that once the merger is complete, the company should split itself into two companies: upstream (drilling) and midstream (pipelines). Shaw’s pressure made EQT tap dance to their tune (see Under Pressure, EQT Moves Up Timeline to Explore Splitting Co.). True to their word, once Rice was merged in, EQT then added a couple of new board members and set about exploring how to separate the company into two companies. The theory is that by separating, each company can focus on what it does best (drilling or pipelines), meaning each separately will have a higher valuation/stock price than the two combined. That is, “the sum of the parts” is worth more than the whole. In February the company decided it will, indeed, split (see EQT Pulls Trigger to Split Company in Two: Drilling & Pipelines). Yesterday EQT released the list of which top execs will go, and which will stay, with upstream and midstream…
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As we reported yesterday, EQT Midstream’s Mountain Valley Pipeline (MVP) got some excellent news–that the Federal Energy Regulatory Commission had lifted a stop-work order on the project (see 
Sometimes counties (and local towns) try to seize power that’s not theirs constitutionally. Particularly when they’re led by liberal Democrats who like to arbitrarily make up their own oil and gas regulations. Such is the case in Fayette County, WV. Most oil and gas regulation is done at the state level–it is a state function. Unless it’s a pipeline that crosses several states. Those projects are regulated at the federal level, to protect citizens in neighboring states from arbitrary and capricious actions (like those New York is engaged in). Counties don’t get to decide whether or not to allow an injection well, or a pipeline. Yet the lib Dems in Fayette believe they can make those decisions. And now, for the second time in two years, a federal court has slapped them down. Two time losers. In August 2017, Fayette County lost a federal court case to block injection wells in the county (see 
Some good news to lighten your Thursday. The Federal Energy Regulatory Commission (FERC) issued an order yesterday allowing Mountain Valley Pipeline (MVP) to restart work on virtually all of the 303-mile project–everywhere but 28.5 miles in and around the pipeline’s path through Jefferson National Forest (about 9% of the total). On August 3, FERC told MVP to stop all construction, prompted by an order from the U.S. Court of Appeals for the Fourth Circuit vacating permits issued for the project as it crosses 3.5 miles of Jefferson National Forest in West Virginia and Virginia (see 
Here’s some dots that we’ve not seen anyone else connect. There are two competing pipeline projects that generally run along the same route to shuttle Marcellus/Utica gas to the southeastern U.S. One project is EQT Midstream’s Mountain Valley Pipeline (MVP), which runs 303 miles from West Virginia into southern Virginia. MVP is facing a court case that’s idled three-fourths of the project, leading to a layoff of “thousands” of workers (see 
Here we go again. More talk from desperate liberals who irrationally hate fossil fuels, claiming the location of two pipelines in Virginia is “racist.” You didn’t know that an inert metal tube could be racist, did you? Yeah, it’s stupid and silly and beyond words–but there you have it. Our schools are doing such a poor job of educating our citizens, they grow up to believe in wild fairy tales and declare anyone (or anything) that is not their particular skin color must be racist. In Virginia, the Governor’s Advisory Council on Environmental Justice, is recommending to Virginia Gov. Ralph Northam that he should illegally (against federal law) rescind federal Clean Water Act permits that allow both the $6.5 billion Atlantic Coast Pipeline (Dominion Energy) and $3.7 billion Mountain Valley Pipeline (EQT Midstream) from crossing the state. The Advisory Council’s tortured thinking is that the pipeline runs through a few poor/black communities–so it MUST be racist. No mention of the fact that such pipelines actually benefit communities and individuals economically. Pipelines get no credit for economically benefiting nearby communities–they only get dinged for flowing an evil fossil fuel that supposedly causes man-made global warming…
It dawned on us, reading yet another story about how EQT/Mountain Valley Pipeline (MVP) has laid off around half of the MVP workforce, perhaps up to 3,000 people (see 
The Federal Energy Regulatory Commission (FERC) has had a change of heart–sort of–with respect to their stop-work order issued to Mountain Valley Pipeline (MVP). We previously told you that on August 3, FERC told MVP to stop all construction prompted by an order from the U.S. Court of Appeals for the Fourth Circuit vacating permits issued for the project as it crosses 3.5 miles of Jefferson National Forest in West Virginia and Virginia (see 
EQT Midstream and its partners in the Mountain Valley Pipeline (MVP) project are trying to convince the Federal Energy Regulatory Commission (FERC) to lighten up and reconsider lifting most of a stop-work order for the entire 303-mile pipeline project. In a 7-page letter to FERC yesterday, Matthew Eggerding, EQT Midstream’s top lawyer, outlined his company’s case for allowing them to restart work on most of the pipeline. Two weeks ago FERC ordered MVP to shut down all construction for the entire project following a court case that overturned permits for a tiny, 3.5-mile section of the project as it runs through the Jefferson National Forest (see 
We spotted something that seemed a bit odd to us. In a story about pipelines in WV and the challenges they face, EQT said they continue to engage in some construction activities for Mountain Valley Pipeline, even though the Federal Energy Regulatory Commission (FERC) recently ordered them to stop all construction on the project until further notice (see 
A federal judge turned down a request by six Franklin County, VA landowners to shut down construction of the Mountain Valley Pipeline (MVP) in their area. The six claim that work being done by MVP is leading to soil erosion–that storm water runoff has resulted in mountains of mud ending up on their property. The legal argument is “trespass” for failing to do the work correctly, thereby leading to an intrusion on their property. The judge denied the request. However, the judge did not toss out the entire lawsuit–only a request for a preliminary injunction. The lawsuit itself will continue. Not that it makes much of a difference. All work on MVP is currently stopped anyway (see 
The radical Sierra Club can claim a new temporary victory in its war to stop a major natural gas pipeline. We previously told you the Clubbers, who use money from donors to weaponize our own court system against us, convinced the U.S. Court of Appeals for the Fourth Circuit to overturn permits issued by the U.S. Forest Service (USFS) and Bureau of Land Management (BLM) that allows EQT Midstream’s 303-mile Mountain Valley Pipeline to cross 3.5 miles of Jefferson National Forest in West Virginia and Virginia (see 
Our lead story today is that the Federal Energy Regulatory Commission has temporarily shut down all work on the Mountain Valley Pipeline, in both Virginia and West Virginia (see FERC Shuts Down ALL Work on Mountain Valley Pipeline in WV, VA). A shame. We spotted another story about a group of landowners and outside radical anti-fossil fuelers who call themselves Mountain Valley Watch. The group, adamantly opposed to MVP, flies drones over work areas to see if they can spot the least little “violation” by workers (Look! That guy just dropped a Snickers bar wrapper on the ground!). The members and fawning media try to label them as “citizen-scientists,” which is laughable. They’re snitches. They run around spying on their neighbors (i.e. workers) hoping to catch them in violation of some obscure code–all in the name of “being an extra set of eyes.” That’s why there’s environmental agencies with trained regulators and inspectors–to do that kind of work. But it’s just so much fun flying drones around, being a virtual peeping Tom. Trouble is, now that MVP construction is stopped, what will the pipeline snitches do with their time? Their neighbors might want to keep an eye out for drones buzzing overhead…
The Sierra Club has struck out in its attempt to stop construction of Mountain Valley Pipeline (an EQT Midstream project) in Virginia. Yesterday the U.S. Fourth Circuit Court of Appeals ruled that the VA State Water Control Board did not err in finding MVP would not unreasonably harm streams and wetlands with its construction activities. This is a MAJOR court victory for MVP and begins to clear away some of the doubt cast by other recent court decisions (see 
The Sierra Club and two other far-out, radical “environmental” groups have scored a minor victory in convincing the U.S. Court of Appeals for the Fourth Circuit to overturn permits issued by the U.S. Forest Service (USFS) and Bureau of Land Management (BLM) that allows EQT Midstream’s Mountain Valley Pipeline to cross 3.5 miles of Jefferson National Forest in West Virginia and Virginia. The court says USFS and BLM didn’t come to the right conclusion about sedimentation and erosion impacts of MVP. The judges (who don’t know a thing about these issues) say USFS and BLM’s contention that impacts can be adequately mitigated is in error. Ever notice how some judges love to tell other people how to do their jobs? In practical terms, the decision is merely an irritation–affecting maybe 1% of the overall project. But the broader implications are troubling. The Clubbers and their friends have a similar case against MVP at the same court (Fourth Circuit) that asks the court to block construction of MVP throughout Virginia on the theory that a stream crossing permit issued by the U.S. Army Corps of Engineers is faulty (see