EQT 1Q16: $5.6M Profit, Prod. Up 24%, Drilling ~80 Wells in ’16

EQT logoBucking the trend of other drillers, EQT Corporation, a major Marcellus/Utica drillers, posted a $5.6 million profit for first quarter 2016. Also of interest in EQT’s latest quarterly update: Production volume was 24% higher than last year this time, the price they got for natural gas was 35% lower than last year, and they still have a $1.5 billion line of credit with the bank–so far undrawn. EQT plans to drill 72 Marcellus wells in 2016, and 5-10 Utica wells. Here’s the update…

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