EQT Corp Sells Kentucky Gas Pipeline to Invest in More Marcellus Shale Drilling – On Track to Drill 100 Marcellus Wells This Year

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 their projected shale gas output upward from 180 billion cubic feet equivalent (Bcfe) to 185-190 Bcfe for 2011, and expects output to grow to 250 Bcfe in 2012.

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