EQT 3Q14: Revenue Up 12%, 91 New Wells Spud in Northeast

Northeast drilling was good for EQT in the third quarter of 2014. The company released their 3Q14 numbers yesterday and it shows revenue was up 12% from a year ago. During 3Q14 EQT, spud (drill bit hits the ground and starts drilling) 42 wells in the Marcellus, 13 Upper Devonian wells, and 36 Huron wells–all in the northeast. Production sales volume was up 25% in 3Q14, midstream gathered volumes were up 24%, and midstream costs were down 18%. The numbers are going in the direction they should be going. The only problem for the company is the low price of natural gas…

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