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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Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.