Olympus Energy Sale to EQT Results in 105 Layoffs at Leviathan
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 EQT Buying Olympus Energy for $1.8 Billion; 90K Acres, 0.5 Bcf/d). Olympus uses another company, Leviathan Energy, to manage operations and provide other services. Leviathan filed a WARN notice with the Pennsylvania Department of Labor & Industry that all of its 105 employees will be laid off in July, and the company is closing down because of the sale to EQT. Read More “Olympus Energy Sale to EQT Results in 105 Layoffs at Leviathan”
In early April, MDN brought you the exciting news that THE largest gas-fired power plant in the country, along with a MASSIVE data center complex, will be built at a former coal-fired power plant site in Indiana County, PA (see 
The State of West Virginia’s fiscal year begins on July 1 each year and runs through June 30 of the following year. Looking at the state’s most recent fiscal year of July 1, 2023, through June 30, 2024, the natural gas and oil industry in WV accounted for over $660 million in state revenue via severance and property taxes. That’s according to the Gas and Oil Association of West Virginia (GO-WV). In addition, the O&G sector employed over 15,000 direct jobs and an additional 73,000 indirect jobs, with an average annual salary of more than $97,000. Shale energy has been an economic miracle in the Mountain State! 
Earlier this month, the Texas Independent Producers & Royalty Owners Association (TIPRO) released the 10th edition of its “State of Energy Report,” offering a detailed analysis of national and state trends in oil and natural gas employment, wages and other key economic factors for ?the energy industry in 2024 (full copy below). TIPRO’s “State of Energy Report” series was developed to quantify and track the economic impact of the domestic oil and natural gas sector, emphasizing the state of Texas. However, the report has a lot of great data, including a breakdown of key O&G employment and economic stats for Pennsylvania and Ohio. One thing that caught our attention is that nationwide those classified as working in “natural gas extraction” jobs made an average annual salary of $176,800 in 2024, up $10,740 from 2023. Hey, we’re in the wrong business! 
How often have we read that shale energy doesn’t create jobs and isn’t the economic boom to local communities as advertised. The enviro-left peddles the lie that oil and gas companies get fat on profits while everyone else suffers. We have the perfect story that exposes the left’s lies about the economic benefits of shale energy—and it comes from Youngstown, OH. Dearing Compressor & Pump designs and manufactures compressor packages for three major business lines including natural gas pipelines. 
JobsOhio
Yesterday, the Energy Workforce & Technology Council released its monthly jobs report, highlighting a rebound in employment across the U.S. energy services sector. Total jobs in the sector were reported at 655,630 for November 2024, reflecting an increase of 1,890 positions from October, according to preliminary data from the Bureau of Labor Statistics (BLS) and analysis conducted by the Energy Workforce & Technology Council. Overall employment in the energy sector has been higher each month compared with corresponding months last year beginning in June—an indicator that activity in oil and gas is ever-so-gradually beginning to increase again. 
EQT Corporation is now the #2 largest natural gas driller in the U.S. following the merger of Chesapeake Energy with Southwestern Energy to form Expand Energy Corporation (see today’s lead story). EQT took the opportunity yesterday, while everyone was focused on the shiny new object (Expand Energy), to file a Form 8-K with the SEC announcing it is laying off 15% of its entire workforce. EQT says the layoffs are a result of too many workers following the merger with its former midstream division, Equitrans, in July (see 
An extensive article appearing in Mountain State Spotlight, a liberal publication aimed at publishing “sustained outrage” stories about happenings in West Virginia, boldly proclaims, “The natural gas boom was supposed to bring prosperity to West Virginians in poverty. That didn’t happen.” The article focuses on several individuals who are living (metaphorically) without a pot to pee in, claiming natgas was supposed to make them fat, dumb, and happy but didn’t. So why didn’t that happen? 
Patience is a rare commodity these days. We live in a day and age of instant gratification. Our food is made and delivered in minutes. The latest gizmo we want can be on our doorstep the next day (or, in some cases, the same day) from Amazon and any number of other retailers. Entertainment and distractions are everywhere! Just lift your eyes from your own phone and observe everyone else around you staring at their phones. So perhaps it is no surprise that some people feel lied to because the mighty Shell ethane cracker plant in Beaver County, PA, hasn’t instantly delivered the promised thousands of extra jobs and dozens of relocated companies.
The ghost of Doug “the ax” Lawler is once again roaming the halls of Chesapeake Energy (see 
Private companies create jobs and economic stimulus, not “the government,” as the left convinces you. Companies, especially manufacturing companies, locate where there is cheap energy. In Pennsylvania, there is abundant cheap (and CLEAN) energy from Marcellus gas in the northeastern part of the state. And indeed, that is exactly what is happening. Businesses are locating in what locals call the “Inland Triangle” of PA — seven counties with numerous major interstate highways running through them in the heart of the Marcellus.