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EQT Eyeing Long Laterals in Appalachia in 2018; Records 205.1 Bcfe Production
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EQT reported its Q3 2017 results. Q3 highlights include:
Sales volumes were 205.1 Bcfe for Q3, a 5% increase from Q3 2016 - will still exit year at 2.7 Bcfe per day Drilled (spud) 35 gross wells in Q3 2017, including 29 Marcellus wells and 6 Upper Devonian wells. Turned-in-line 49 wells in Q3 2017, including 32 Marcellus wells and 16 Upper Devonian Appalachia Development:In order for companies to attain the extremely long laterals of up to 16,000 feet in Appalachia, they will have to start acquiring land to build truly contiguous acreage. In preparation for this, EQT expects between $100 - $200 million for additional fill in acreage to support longer laterals.
Looking to 2018, EQT will begin the year drilling longer laterals with an initial average of 12,700 ft.
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