The Appalachian Methane Initiative (AMI) is a coalition of leading U.S. natural gas companies in the Marcellus/Utica, including Ascent Resources, CNX Resources, EQT Corporation, Equitrans Midstream Corporation (now part of EQT), Expand Energy Corporation, MPLX, and Seneca Resources. AMI uses independent monitoring providers, technical consultants, and top-tier universities to monitor and track methane emissions in…
Read More...Here’s an explosive allegation. EQT Corporation and its pipeline subsidiary EQM Gathering are suing Union Township (located in Washington County, PA). Also named in the lawsuit are the town’s five supervisors. EQT’s allegation is that the town (and its supervisors) are attempting to extort big money from EQT to allow the company to connect gathering…
Read More...EQT President and CEO Toby Rice joined CNBC’s ‘Mad Money’ host Jim Cramer on Friday to talk about the state of the energy sector, natural gas prices, energy development, and more. Rice claimed that natural gas will be a major source of power for the burgeoning AI boom. “We firmly believe that natural gas is…
Read More...For the week of Feb 10 – 16, the number of permits issued in the Marcellus/Utica to drill new shale wells soared. Two weeks ago, 24 new permits were issued. Last week, the number increased to 36 new permits issued. The Keystone State (PA) issued the vast majority with 23 new permits last week. Seven…
Read More...EQT Corporation, the nation’s second-largest natural gas producer after Expand Energy, delivered its fourth quarter and full-year 2024 update yesterday. The company, which drills solely in the Marcellus/Utica, produced 605 Bcfe of natural gas and equivalents during 4Q, which works out to be 6.58 Bcfe/d, despite curtailing 27 Bcfe (or 0.29 Bcfe/d, the same as…
Read More...DUCs are drilled but uncompleted wells. Drillers sink a hole first and then return later to “complete” the well by fracking it and connecting it to sales. An increase in DUCs means more new drilling is happening. A decrease in DUCs means fewer new wells are drilled while previously drilled wells are completed. According to…
Read More...For the week of Feb 3 – 9, the number of permits issued in the Marcellus/Utica to drill new shale wells remained healthy. Two weeks ago, 22 new permits were issued. Last week, the number increased to 24 new permits issued. The Keystone State (PA) issued 11 new permits last week. Nine permits went to…
Read More...Something of surprise (at least for us) is that four EQT Corporation board of directors members, including the board’s chairwoman, are “retiring” and leaving the board. That’s four out of 14 board members (28%, over one-fourth). Is it a bloodbath? Widespread unrest? House cleaning? No, we don’t suspect any of those things. It may be…
Read More...For the week of Jan 27 – Feb 2, the number of permits issued in the Marcellus/Utica to drill new shale wells recovered from the previous week. Two weeks ago, only 7 new permits were issued. Last week, the number increased to 22 new permits issued. Whereas the Keystone State (PA) issued no new permits…
Read More...In 2018, Equitrans Midstream, the builder of the 303-mile Mountain Valley Pipeline (MVP), proposed to extend MVP by an extra 75 miles from the current terminus in Pittsylvania County, VA, to Alamance County, NC, to provide natural gas for heating and electric generation. The 75-mile extension is called MVP Southgate. In December 2023, MVP changed…
Read More...Enverus Intelligence Research (EIR), a subsidiary of Enverus, issued a summary of the fourth quarter and full-year 2024 upstream M&A (mergers and acquisitions) activity yesterday. Two of the top five M&A deals include deals in the Marcellus/Utica. Coming in at #3 on the list was EQT’s sale of non-operated assets to Equinor for $1.25 billion…
Read More...Did you happen to catch the news lighting up all the cable news stations yesterday about Chinese startup DeepSeek? The company launched a free AI assistant that it claims uses less data at a fraction of the cost of other AI models. By Monday, the DeepSeek assistant had overtaken U.S. rival ChatGPT in downloads from…
Read More...The highly functional and responsible Susquehanna River Basin Commission (SRBC), unlike its completely dysfunctional and irresponsible cousin, the Delaware River Basin Commission (DRBC), continues to support the shale energy industry by approving water withdrawals and consumptive use for responsible and safe shale drilling. The SRBC published a notice in the January 25 Pennsylvania Bulletin that…
Read More...Wow! Is this the Trump effect? For the week of Jan 13 – 19, permits issued in the Marcellus/Utica to drill new shale wells achieved levels we haven’t seen in, oh, about four years. There were 41 new permits issued last week, up significantly from 27 issued the week before and 30 issued two weeks…
Read More...The experts at RBN Energy recently analyzed the Q3 2024 financial results for the gas-focused producers the company tracks (mainly Marcellus/Utica producers). The gas-weighted E&Ps RBN follows had the best total shareholder return performance of the three peer groups they tracked through the first nine months of 2024, with a median gain of 14%. On…
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