EQT Call: Fracking 1st Utica Well in June; Changing Proppant

Last week MDN brought you EQT’s report on their first quarter earnings and performance (see EQT 1Q15: Production Volume Up 37%, but Price Received Down 33%). As is often the case with publicly traded companies, EQT’s top management hopped on an analyst phone call to discuss the results. And as sometimes happens, extra details came out on the call. During last Friday’s call, EQT management revealed in prepared comments and in a series of questions and answers that: (1) the company will begin fracking its first Utica well (in Greene County, PA) in early June; (2) the second Utica well EQT plans to drill will be in Wetzel County, WV; and (3) the company is considering a change to ceramic proppant instead of using sand–a move that will cost them an average of $2.5 million more per well than what they pay now using sand…

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