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EQT's Q2 Sees 'Highest Activity Level' in Company History; Laterals 55% Longer YOY
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EQT reported its Q2 2018 results, which were led by increased drilling activity.
In its conference call, SVP of Exploration David E. Schlosser commented: "On an activity level, the second quarter was the highest in EQT history with the company operating as many as 15 rigs and 12 frac crews. This resulted in nearly 680,000 feet of pay being fracked, which is 55% higher than our previous record."
Highlights: - Production of 362.5 MMcfe or 3,984 MMcfe/d (up +83% YOY and up +2% from 1Q18)- Wrapped up asset sales:
Announced and completed the sale of Huron assets Completed sale of Permian assets Drilling Activity - 55% Longer Laterals YOY EQT drilled 48 wells in Q2 and TIL 54 wells - the bulk of which were in the Marcellus.The company plans to increase its TIL activities in Q3 and drill…
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