EQT to experiment with Utica well in southwestern Pennsylvania
Saturday, August 9, 2014
EQT Corporation will experiment with drilling in southwestern Pennsylvania’s Utica shale before expanding exploration into West Virginia’s shale, as reported by State Journal.
The well, which is projected to be completed by the end of 2014, will cost $15 million. If successful, it could spur high returns, making up for the initial cost of drilling, and prompt Hess to drill wells in West Virginia. The company has 400,000 acres that lie partially in West Virginia.
However, the well could also expose an unprofitable area. Planning for the well includes possibly needing different materials and equipment to complete the drilling and fracking process.
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Mineral rights are the rights of the owner of the property to mine or produce any resources below the surface of the property. Mineral rights are different from surface rights.
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Maybe. It depends on your particular lease agreement. Some companies allow property owners a yearly free gas allowance. But, the process of connecting your property to the gas source may be more complicated. Some companies will provide a hookup, others require the landowner to provide one.