EQT Corp is a large energy company with 500,000 net acres of land leased in the Marcellus Shale. Having drilled 21 Marcellus gas wells in 2010 already, and with plans to drill 100 wells total this year, EQT is a major player in the Marcellus. So when the Chairman and former CEO of EQT, Murry [...]
Even though the price of natural gas worldwide is down, EQT Corp saw a big jump in net income (ie profits) largely due to their large increase in gas production in the Marcellus Shale formation in Pennsylvania. In a Pittsburgh Tribune-Review article we learn this about their drilling activities: EQT drilled 21 horizontal wells in [...]
EQT Corp. said today it is buying mineral rights to 58,000 net acres in the Marcellus Shale from a group of private operators and landowners for $280 million in stock and cash. That works out to $4,828 per acre. While the names of the sellers were not disclosed, most of the land is located in [...]
Recent Comments