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 [...]
EQT is betting big on the Marcellus for 2012 and will spend 80 percent of its upstream budget on Marcellus Shale development in 2012.
Who are the biggest producers of Marcellus shale gas in Pennsylvania so far this year? Below is the list of the top seven as compiled from production numbers by the Pittsburgh Business Times. The following are production numbers for January to June 2011 in Pennsylvania.
EQT has received federal approval to construct a new natural gas pipeline that will reach from West Virginia into Pennsylvania, and will begin construction immediately:
A new 92-page study just released by the University of Pittsburgh (copy embedded below) takes a realistic look at the direct costs, and economic impacts, of drilling a single Marcellus Shale gas well. The study, called the “Economic Impact of the Value Chain of a Marcellus Shale Well,” looked in depth at an EQT-drilled well [...]
Giant Eagle, a grocery and convenience store chain with 222 stores in western PA, Ohio and West Virginia, has just opened the first of three compressed natural gas (CNG) filling stations in the Pittsburgh area. The company is planning to replace its entire truck fleet (over 200 trucks) with CNG trucks in the coming years. [...]
EQT Corporation has just sold a gas pipeline in Kentucky for $390 million to Spectra Energy Partners so it can invest the money in Marcellus (and Huron) shale gas drilling. From EQT’s press announcement about the sale we also learn EQT is on track to drill 100 Marcellus gas wells this year. EQT has revised [...]
EQT Corporation is reducing it’s commitments to other gas exploration and concentrating on the Marcellus Shale over the next few years:
MarkWest Energy announced that today they closed on the previously announced acquisition of EQT’s natural gas processing complex in Langley, Kentucky and an associated natural gas liquids (NGL) pipeline for $230 million.
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 [...]
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