EQT Slashes 2015 Capex Budget 24%, Reduces Drilling Program 45%

Perhaps the biggest news coming from EQT yesterday is the news that they’ve once reduced their capital expenditure (capex) budget for 2015. In December, the company said they would spend $2.5 billion on capex in 2015–down from $2.7 billion spent in 2014—and drill 244 new wells this year (see EQT’s 2015 Plans: 181 Marcellus Wells, 58 UD Wells, 5 Utica Wells). Yesterday EQT whacked the budget again, given the low price of oil and gas. They will now spend $2.05 billion on capex (down 24% from last year) and instead drill 191 wells, as opposed to the 345 wells they drilled in 2014 (down 45%)…

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