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Acquisitions Fuel EQT's Increased Production/Drilling in Q3
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EQT announced third quarter 2016 results.
Key Points: Drilled 21 wells in Q3 (not including the 32 wells acquired via the Trans Energy / Republic deal). With acquired wells included, EQT's well activity is up 96% YOY. If not, drilling activity is on par with Q2 2016 and YOY activity.Highlights:
Production sales volume 26% higher Midstream transmission revenue 11% higher Realized natural gas price 14% lower $275 million cash proceeds from asset sale to EQM Continued acreage acquisitions Marcellus Horizontal Well Status (cumulative since inception) Operations Update / ProductionEQT Production achieved a sales volume of 196 Bcfe in the third quarter 2016, representing a 26% increase from the third quarter last year.
The Company drilled (spud) 24 gross wells during the third quarter of…
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