EQT focuses spending plan on Marcellus, Utica wells
Friday, December 29, 2017
In its first full year following its acquisition of Rice Energy, EQT Corp. plans to spend $2.4 billion on natural gas exploration and production, according to the Pittsburgh Business Times.
EQT plans to drill 139 wells in the Marcellus Shale — most of them in Pennsylvania; 38 wells in the Ohio Utica; and 19 Upper Devonian wells drilled alongside Marcellus pads in Pennsylvania. Additionally, the company will turn in line 160 to 170 wells in the Marcellus, 40 to 50 in the Ohio Utica and between 20 and 25 Upper Devonian wells.
EQT expects production to increase15 percent between 1.5 trillion and 1.56 trillion cubic feet.
Learn more: Pittsburgh Business Times > EQT expects increased production for 2018
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