EQT acquiring CNX Resources

What`s up with this news?   Is it possible, and what would a EQT takeover mean for further development in Central PA?  

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Permalink Reply by Nancy Mosley on October 26, 2020 at 4:21am

Is this just Pennsylvania or also WV?

Permalink Reply by farmgas on October 26, 2020 at 4:28am

That`s an interesting question.   Would CNX just sell off WVA holdings and retain PA?   My impression is it`s the entire company EQT wants. 

Permalink Reply by Nancy Mosley on October 26, 2020 at 4:35am

I just read a news story about it and it looks like it is the entire company holdings.

Permalink Reply by Kyle Nuttall on October 28, 2020 at 4:21am

Yep.  It looks like they're after the whole company.

Permalink Reply by Dan on October 26, 2020 at 12:02pm

EQT is already biggest in the map.  This might be good for NG price in the future but only because they can control production......choke back the wells just fulfilling contracts.  Until demand and price go up so many companies overproducing to meet debt is killing the price.  Even though we are killing our economy at home a lot of the world reigned in Covid and energy demand is starting to rise.  More exports maybe?  Things will get better.   How is the Cracker Plant in Monaco, PA progressing? 

Permalink Reply by Joe C. on October 30, 2020 at 9:44am

My option, EQT being the most crooked company of the Appalachian Basin has acquired Chevron and now maybe CNX. This isn't good. Remember who EQT is, Equitable Gas. Equitable screwed a lot of landowners back in the day with Gas storage. They can bring prices per acre and royalty down to the old day prices of a few hundred an acre and standard 12.5% for new units and new leases. This sucks people!! 

Permalink Reply by farmgas on October 30, 2020 at 11:27am

What did you think of CNX`s 3rd quarter report?   Who is, CNX now?

Permalink Reply by Joe C. on November 2, 2020 at 2:11am

The CEO of CNX said they wouldn't sell to EQT. 

Permalink Reply by farmgas on December 22, 2020 at 5:03am

Any latest on this news?

Permalink Reply by Kyle Nuttall on December 29, 2020 at 7:28am

I haven't heard anything about it either way since November.  A quick Google search didn't bring up any new rumors, either.  CNX seemed to be pretty averse to the idea, so unless something changes I imagine a merger won't happen.

Permalink Reply by vic wallace on December 29, 2020 at 9:21am

EQT bought my lease from Ascent in September.  I'm in Ohio.

Permalink Reply by Dan on December 29, 2020 at 1:17pm

Hello Vic,

Is your property adjacent to original Rice leases prior to EQT.  EQT seems to generally like to only acquire leases in their PA and WV fields. 

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