EQT posts net income loss for second quarter
Monday, July 27, 2015
EQT Corp. isn’t the first natural gas producer to feel the sting of low commodity prices during the second quarter.
Pittsburgh Tribune-Review reports that the company’s net income fell to $5.5 million and 4 cents per share during the second quarter. During the same period of 2014, EQT had a net income of $110.9 million and 73 cents per share.
Even though the company’s net income fell 95 percent, its pipeline business is still strong. EQT was able to cut drilling costs. The company also has a productive well in southwestern Pennsylvania’s Greene County and drilled a total of 48 Marcellus wells during the second quarter.
The company is focused on keeping costs down while commodity prices remain low.
Via: Pittsburgh Tribune-Review > Profit falls at EQT on low shale gas prices
Related:
- Production increases while commodity prices remain low July 24, 2015
- Consol expects to post losses during second quarter July 21, 2015
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