All of EQT’s Previous Top Management, Save One, is Now Gone
Beauty (and truth) is in the eye of the beholder. During the proxy fight earlier this year to control EQT’s board–and ultimately its management team–Toby Rice threw some sharp barbs including talk that EQT’s existing management was not up to the task of effectively running the company. The Rice boys said so, their board nominees said so, and Institutional Shareholder Services (ISS) said so. There will be change (i.e. personnel change) at the “operational level” said ISS. Imagine our surprise when, after assuming control, Toby said there would *not* be a wholesale replacement of top management (see Toby Rice, EQT’s New CEO, is NOT Cleaning House re Top Management). We guess it depends on what you mean by “top management,” because as of now, seven of the then eight members of the senior management team at EQT are gone. What about the last survivor?
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Talk about disingenuous political posturing by a couple of pompous windbags. Massachusetts’ two U.S. Senators, Elizabeth “Pocahontas” Warren and Ed “Lackey” Markey have introduced a bill in Congress to block the construction of a single pipeline compressor station–slated to be built in Weymouth, Mass. They even made up a catchy name for their bill: the “Community Outreach, Maintenance, and Preservation by Restricting Export Stations from Subverting Our Regulations Act.” Or “COMPRESSOR Act” for short. What childish dopes.
We have an ongoing problem. Some of the more radical protesters in the “environmentalist” movement–those who tend toward anarchy–illegally enter work sites for pipelines and other fossil fuel infrastructure under construction, and block the work being done in an attempt to cost companies money. Typically they chain themselves to a piece of equipment with a device that takes law enforcement authorities hours to remove. They cause delays and endanger themselves and workers and law enforcement with their illegal actions. It’s time to make the penalties for these dangerous, willful and illegal acts stiffer. Pennsylvania State Senators have introduced a pair of bills to help put a stop to this nonsense.
There is an ongoing question of whether or not the Ohio Marketable Titles Act (MTA), which impacts Utica shale rights, can be used to return previously severed mineral rights back to a surface landowner, or whether the MTA is superseded by Ohio Dormant Minerals Act (DMA). In February, Ohio’s Seventh District Court of Appeals said the MTA *does* still apply to mineral rights (see 
In June the DRBC (Delaware River Basin Commission) approved a request by New Fortress Energy to build a $96 million 1,600-foot-long pier on the Delaware River, to be used for docking and loading two ships at a time with LNG (see 
In April President Trump signed an Executive Order (EO) instructing the Environmental Protection Agency to review Section 401 of the Clean Water Act–the section that grants states (and tribes) the right to have a say in pipeline projects (see 
MARCELLUS/UTICA REGION: ODNR issues 10 permits in Utica-Point Pleasant shale; OTHER U.S. REGIONS: It costs $532,000 to decommission a single wind turbine; NATIONAL: Natgas permitting down in Appalachia, while oil permits fall in Texas, Wyoming; Trump hasn’t solved the pipeline crisis; Democrats slam Wheeler for ‘weaponizing’ agency; WellBoss, Downhole Tech merger becomes official; Supply growth levels natural gas futures to near 20-year lows; Chesapeake Energy’s stock falls toward 20-year low, as crude oil futures drop; The oil and gas situation: Is the industry dying? Not hardly.; Natural-gas producers hard hit by tanking prices.
In yet another sign of a slowdown in Marcellus/Utica drilling, a company that manufactures drilling equipment and fracking pumps, Gardner Denver, is laying off 45 employees at its plant located in Tipton, PA (near Altoona). That’s two-thirds of its local workforce. Why? According to a company rep, because of the slowdown in drilling and because of ongoing depressed gas prices.
Global warming fundamentalists have struck out yet again. In May, the U.S. Supreme Court refused to hear a case appealed from a lower court by a group of Lancaster County landowners who claim Williams and their Atlantic Sunrise Pipeline project abused eminent domain authority by building the pipeline before litigating (for years) how much money landowners should receive (see 
In September MDN brought you news of the U.S. Court of Appeals for the Third Circuit ruling that disallows PennEast Pipeline from using the delegated power of eminent domain to cross properties either owned by, or with easements granted to, the state of New Jersey (see 
National Fuel Gas Company (NFG), the utility and midstream giant based in Buffalo, NY, remains committed to building it’s Northern Access Pipeline project, a $500 million project that includes building 97 miles of new pipeline along a power line corridor from northwestern Pennsylvania up to Erie County, NY. The project also calls for 3 miles of new pipeline further up, in Niagara County, along with a new compressor station in the Town of Pendleton. Although New York State (under the profoundly corrupt Andrew Cuomo) continues to try and block the project, NFG says they will build it–in the 2022-23 time frame.
In April, Pennsylvania State Rep. Mike Turzai, Speaker of the House, and a group of conservative Republicans, announced a plan for the future of PA (see 
In April MDN told you about efforts by the Route 2 | I-68 Authority in West Virginia to expand Route 2 to four lanes from Parkersburg, WV to Chester, WV, and to extend Interstate 68 from I-79 near Morgantown, WV westward to WV Route 2 along the Ohio River Valley, some 73 miles (see 
Here’s how it works for Pittsburgh Post-Gazette “reporters” Don Hopey and David Templeton. A group of fellow travelers who hate the fossil fuel (shale) industry as much as they do gather at a small, pre-announced meeting, preferably at a school, and make wild, unsubstantiated, frankly reckless (actionable?) accusations against the “hated” shale drilling industry. Stenographers Hopey and Templeton are there to record it all and share it with the general public. That’s what happened yesterday at meeting in Washington County, PA.
Dominion Energy’s Atlantic Coast Pipeline (ACP) previously filed a request with the U.S. Supreme Court to overturn a decision by the U.S. Court of Appeals for the Fourth Circuit that judicially creates a new law stipulating pipelines can’t cross under the Appalachian Trail without (no kidding) an Act of Congress. The Supremes get 8,000 such requests each year, and accept maybe 80 (or 1%). Lightning struck. The ACP case was accepted by the Supremes on Friday. This is *seriously* good news!