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Marcellus Operator Ups Drilling Plans; 63 More Wells In 2016
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EQT Corporation announced second quarter 2016 results.
Key Points:Accelerate drilling program for H2 2016 by spudding an additional 63 wells:
33 Pennsylvania Marcellus wells 30 Upper Devonian wells Total of 105 Marcellus and 30 Upper Devonian wells in 2016 2016 capital expenditure forecast of $1.0 billion unchanged, as lower costs per well offset the costs of increased activity. Results By Business EQT Production EQT Production achieved sales volume of 184.5 Bcfe in the second quarter 2016, representing a 26% increase over the second quarter last year. EQT Production’s operating loss totaled $444.0 million for the quarter, compared to operating loss of $66.9 million in 2015. Operating revenue totaled $72.0 million for the second quarter 2016, which was $316.8 million lower than the…- ✓ Full news archive — U.S., Canada & international coverage
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