Olympus Energy

Olympus Energy LLC was a privately-held energy company specializing in the upstream and midstream development of natural gas resources within the Appalachian Basin. Founded in 2012 as Huntley & Huntley Energy Exploration (HHEX), the company was established in partnership with Blackstone and managed in association with Huntley & Huntley, Inc., a firm with a long history in the oil and gas industry. The company rebranded to Olympus Energy in September 2019 to reflect its new strategic vision.

The company's primary operations were focused on a significant asset base in southwestern Pennsylvania, where it had assembled over 100,000 largely contiguous acres. This position was located in the core of the Marcellus, Utica, and Upper Devonian fairways, which are areas rich in natural gas. Olympus employed a business model that integrated both upstream (exploration and production) and midstream (gathering and transportation) operations, which allowed for greater efficiency and cost management. The company's revenue was generated through the extraction and sale of natural gas from these assets. Under the leadership of executives like former CEO M. Chris Doyle and later, President and CEO Tim Dugan, who joined in 2020, the company focused on operational excellence and responsible resource development. Tim Dugan brought extensive experience from previous leadership roles at CNX Resources, Chesapeake Energy, and Cabot Oil and Gas Corp.

In a major industry development, EQT Corporation, the largest natural gas producer in the United States, announced an agreement to acquire Olympus Energy's upstream and midstream assets in April 2025 for approximately $1.8 billion. The transaction, which consisted of $1.3 billion in EQT common stock and $500 million in cash, officially closed on July 1, 2025. At the time of the acquisition, Olympus's assets included about 90,000 net acres producing an average of 500 million cubic feet of natural gas per day. This acquisition was a strategic move for EQT to bolster its footprint in the core of the Marcellus Shale and to capitalize on the increasing demand for natural gas from new data centers and power generation projects in the Appalachian region. Following the completion of the deal, Olympus Energy ceased to operate as an independent entity and its assets were integrated into EQT.

Keywords: natural gas exploration, upstream development, midstream assets, Appalachian Basin, Marcellus Shale, Utica Shale, energy production, Huntley & Huntley, HHEX, Blackstone, EQT Corporation, natural gas resources, resource development, energy acquisition, Pennsylvania energy, Canonsburg, gas exploration, oil and gas, energy infrastructure, corporate acquisition