EQT Plans to Drill 86 Wells in the Marcellus in 2011, Adding More Midstream Infrastructure Too

EQT Corporation is reducing it’s commitments to other gas exploration and concentrating on the Marcellus Shale over the next few years:

In 2010, EQT Corporation drilled 326 horizontal wells, with 90 wells targeting the Marcellus Shale.

EQT Corporation has 500,000 net acres in West Virginia and Pennsylvania that are prospective for the Marcellus Shale, and will shift more development towards this formation over the next few years. The company plans to drill 86 wells here in 2011, at an average cost of $5.3 million each.

EQT Corporation is investing in midstream infrastructure needed to transport and process natural gas from the Marcellus Shale. The company plans to add gathering capacity of 130 million cubic feet per day.

*Investopedia (Feb 2) – EQT Favors Marcellus In 2011