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Bidenistas at FTC Clear EQT to Complete Buyout of Tug Hill & XcL
Last September, EQT Corporation announced it was buying privately-owned Tug Hill Operating’s West Virginia shale assets for $5.2 billion (see Confirmed: EQT Buys Tug Hill’s THQ Appalachia for $5.2 Billion). However, the Bidenistas at the Federal Trade Commission (FTC) got involved slowing down the deal. Because of the FTC dragging its feet, EQT and Tug Hill renegotiated the timeline adding a full year–to the end of 2023 (see EQT $5.2B Deal to Buy Tug Hill Extended Additional Year to Close). Good news: After delaying the deal by nearly a year, the Bidenistas at the FTC have given their blessing on the deal. The deal is expected to close within seven days.
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In February 2022, Equitrans Midstream announced it had filed a new pipeline expansion project with the Federal Energy Regulatory Commission (see 
We’re trying not to sound too PO’d (personally offended) here, but once again, in what seems to be an every month or two occurrence, the Pennsylvania Dept. of Environmental Protection’s (DEP) online oil and gas permitting database is throwing an error. So, we are left with no permit numbers for PA for the week of July 10-16. Neither the Ohio Dept. of Natural Resources (ODNR) reporting system nor the West Virginia DEP reporting system have these problems. It is only the PA DEP that routinely goes “off the air.” Why is that? [Rant over] Even without PA’s numbers, OH and WV combined issued 17 permits last week, versus the pathetic 11 total from the prior week that included PA.
Earlier this year, Equitrans Midstream announced it had filed a new pipeline expansion project with the Federal Energy Regulatory Commission (see