EQT Production Up 44% in 2011, Suspends Huron Shale Drilling

Pittsburgh-based EQT Corp. released 2011 results yesterday. Because of the prolific gas volumes in the Marcellus Shale, EQT reports production for natural gas was up an astonishing 44 percent over 2010. Some 42 percent of EQT’s production is from the Marcellus, which was up 18.9 percent last year.

EQT reports drilling 222 gross wells in 2011, 105 of them in the Marcellus Shale and 115 in the Huron Shale. The Huron is located mostly in western West Virginia, with very small slices in Ohio, Kentucky and Virginia. Because of slumping prices for natural gas, EQT has announced they are suspending drilling in the Huron and instead will concentrate on the liquids-rich portion of the Marcellus.

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