Pittsburgh Driller & Gas Utility Co Want to Swap Assets
In a complex deal submitted to regulators last year, Marcellus driller and midstream company EQT Corp. and gas utility company Peoples Natural Gas want to do a swap. EQT proposes to trade/sell its natural gas utility division, called Equitable Gas, to Peoples, and in return EQT would get not only $720 million but also gas pipelines and storage facilities—called the Allegheny Valley Connector—from Peoples.
Once (if!) the deal is done, EQT will be totally focused on drilling and midstream and out of the utility market. EQT is currently shopping around prospective future capacity on the Allegheny Valley Connector to other drillers, to see what kind of interest they can generate:
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The Joint Landowners Coalition of New York (JLCNY), a 77,000-member umbrella organization for New York landowners interested in leasing their property for natural gas drilling, announced yesterday they will move forward with a lawsuit against New York State on behalf of their members. The group has decided to litigate in light of the now expired Feb. 27 deadline to adopt new rules to allow high volume hydraulic fracturing (fracking) in the state. MDN spoke to Dan Fitzsimmons, president of the JLCNY. He commented it took Illinois 14 months to research and write new legislation for fracking, and just 8 months for new rules to be researched and adopted in Ohio. New York’s rulemaking process has now languished for more than 4 1/2 years. Enough is enough.
MDN editor Jim Willis is in Columbus, Ohio attending the 
Although the evidence has always been there for all to see, it’s now abundantly clear that New York’s Democrat party wants to outright kill oil and gas drilling in the state. They prefer economic suicide to facing down the fracking extremists in their own party.