Help Wanted: New CFO for EQT – David Khani Leaving in July
Yesterday EQT announced the “planned transition” of David Khani, Executive Vice President and Chief Financial Officer for the company, effective July 2023. The announcement does not say what Khani is transitioning to, but by all appearances, it means he’s leaving the company. The announcement also says EQT will be conducting a search to identify a successor and that Khani will stick around to be sure there is a smooth transition.
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MARCELLUS/UTICA REGION: PA Environmental Hearing Board Chief Judge retires; NATIONAL: Williams appoints Carri Lockhart to Board of Directors; EIA forecasts refinery utilization to average 90+% in 2023 & 2024; Al Gore’s 30 years of climate errors – bridge fuel to nowhere; INTERNATIONAL: A $39 trillion investor alliance gives warning on carbon offsets; Russia drills most oil in a decade; Europe’s gas prices drop to the lowest level since Sept 2021.
Residents living in the vicinity of Energy Transfer’s Revolution Pipeline cryogenic plant in Bulger (Washington County), PA, got a surprise “present” on Christmas morning. Around 7:30 am, residents report hearing an explosion, followed by a fire, at the plant used to separate NGLs (natural gas liquids, including ethane, propane, and butane) from the raw gas stream that flows through the Revolution gathering pipeline (see 
ECA Marcellus Trust I, the royalty interest holder in some of the wells drilled and maintained by Greylock Energy in Greene County, PA, announced it would issue a payout (the equivalent of a dividend) to unitholders of 12.4 cents for 4Q22. That is down from the previous quarter when the Trust paid out 18 cents per unit. The company continues to hold back some profits ($135,000 in 4Q22) in order to build a cash reserve.
We just have to say right up front, U.S. Senator Joe Manchin from West Virginia is either a lying sleazebag, or he’s really, really stupid. And neither option is very inspiring. Last year Manchin was lured into voting in favor of a massive government spending bill that previously was called the New Green Deal. It got renamed (misnamed) to the Inflation Reduction Act (IRA), to make it an easier sell to voters (see 
There are a (very) few Democrats in Washington, D.C., who still support natural gas. It seems most national Democrat leaders (in Congress and beyond) have been coopted by the radical left of the party and now endorse the national suicide of dumping fossil energy. But not all Dems. A group of so-called moderate Democrats who aligned themselves with Bill Clinton formed a think tank in 1989 called the Progressive Policy Institute (PPI). The PPI recently published an issue brief (report) called “The Climate Case for Expanding U.S. Natural Gas Export.” The report says expanding U.S. LNG exports can lower global greenhouse gas emissions significantly, especially if fugitive emissions of methane are deeply reduced. The report even supports the construction of more pipelines here in the U.S. Imagine that! A group of Dems who support natgas and LNG exports. It’s like spotting a unicorn in the wild.
Please sit down, buckle up, and keep your hands inside the ride at all times. No, these are not instructions before boarding a roller coaster at your favorite theme park. These are instructions for those who buy and sell natural gas in 2023. While the price of natgas has been bumping along at the mid-$2 range since late December, don’t be lulled into the siren song of “lower for longer.” According to the Wall Street Journal, the “buffers that keep America’s natural-gas price fluctuations at bay are eroding,” and you can expect wild gyrations in price to happen in 2023.
We’re going to say it right up front to everyone who voted for John Fetterman for U.S. Senate in Pennsylvania: We told you so. We warned MDN readers Fetterman is not up to the job. He had a stroke, he should have pulled out of the race, but he didn’t. And now the left (including the Democrat cheerleaders of the New York Times) feel comfortable enough to admit the truth that some of us were speaking last fall–that Fetterman is not fit to be a U.S. Senator. Fetterman defeated the odious Republican Dr. Oz, so he’s served his purpose. Now it’s time to dump him and replace him with someone else. That appears to be the plan by the left.
Tuesday of last week, Freeport LNG, which has been out of operation since an explosion and fire in June 2022, asked the Federal Energy Regulatory Commission (FERC) for permission to begin re-introducing feedgas back into one of three liquefaction “trains” (units) at the facility. A day later, FERC agreed, and small amounts of gas began to flow (see 
We spotted an article chronicling a visit to Pennsylvania by the Dept. of Interior Secretary Deb Haaland yesterday. She was there to tout money flowing to the Keystone State from the so-called Infrastructure bill in order to plug old abandoned oil and gas wells. What was interesting about her visit was not that she was there to promote the Bidenista agenda and proclaim how great the doddering old fool (her boss) is. The interesting thing is who was by her side: Rich Negrin. You may recall newly minted liberal Democrat Gov. Josh Shapiro nominated Negrin to be the next Secretary of the Dept. of Environmental Protection (DEP) just about 30 days ago (see 
Last October, the Pennsylvania Senate Environmental Resources and Energy Committee held a hearing in Philadelphia about potentially locating an LNG export facility there. The country’s largest natural gas producer, EQT, showed up to discuss the key role gas has played in reducing emissions here at home and the role it could play in helping other countries reduce their emissions. Labor unions were there to talk about the jobs that would be created by such a facility. Penn LNG, the company that wants to build such a facility (and has lined up $6.4 billion so far to make it happen), was there too. But you didn’t know about it–because the event was ghosted by “mainstream” media.