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EQT Sees Midstream Revenue Jump in 3Q; Drills 37 Wells
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EQT Corporation reported its third quarter 2015 results.
The Company drilled (spud) 37 gross wells during the third quarter 2015, which included 31 Marcellus wells, with an average length-of-pay of 5,800 feet; four Upper Devonian wells, with an average length-of-pay of 6,900 feet; and two dry Utica wells, with an average length-of-pay of 4,000 feet.
Marcellus Horizontal Well Status (cumulative since inception) Highlights: Production sales volume was 27% higher Realized natural gas price was 42% lower Midstream net revenue was 17% higher Cash balance of $ 1.7 billion A $1.5 billion undrawn, unsecured revolver Results by Business EQT ProductionEQT Production achieved sales volume of 156.3 Bcfe in the third quarter 2015, 27% higher than the third quarter 2014; however, the increase in…
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