EQT to pull back on drilling, spending in 2016
Saturday, December 12, 2015
According to Pittsburgh Tribune-Review, EQT Corp. is planning to drill fewer Marcellus wells in the coming year, and also will cut capital spending because of the expected continuation of low commodity prices.
The company’s capital budget announced earlier this week is set at $1 billion for next year, nearly a third of 2015’s budget.
The newspaper reports that in 2016, 72 Marcellus wells and as many as 10 Utica wells are expected to be drilled. The company intends to increase production next year by 18 percent.
Via: Pittsburgh Tribune-Review > EQT reduces Marcellus drilling plans for 2016/p>
More EQT news:
- EQT to suspend drilling operations in central Pennsylvania Oct. 25, 2015
- EQT posts net income loss for second quarter July 27, 2015
- EQT decreases capital spending due to service provider cuts April 26, 2015
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