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EQT Unveils Drilling & Completions Plans 1H- 2016
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EQT Corporation announced the Company’s 2016 capital expenditure (CAPEX) forecast of $1.0 billion, excluding business development, land acquisitions and Midstream capital associated with planned asset dropdowns in the first half of 2016; and including $820 million for well development. Production sales volume in 2016 is expected to be 700 – 720 Bcfe. Funding will be provided by cash generated from operations, cash-on-hand, and proceeds from midstream asset sales to EQT Midstream Partners, LP.
Marcellus DevelopmentIn 2016, the Company plans to drill 72 Marcellus wells with an average lateral length of 7,000 feet – all of which will be on multi-well pads to maximize operational efficiency and well economics. The Marcellus drilling program will focus on the Company’s core Marcellus acreage.
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