EQT Plans to Make Money with $2/Mcf NatGas Price

For years MDN has observed that Cabot Oil & Gas is one of the few Marcellus/Utica drilling companies that can “spin straw into gold”–meaning it makes money on selling natural gas even when the price of that gas is in the basement (see Marcellus Driller Cabot Oil & Gas: Wall Street’s NatGas “Unicorn”). The new management at EQT aim to turn their company in a spinning-straw-into-gold company too. In a recent interview with the Pittsburgh Business Times, EQT CEO Toby Rice said his strategy for making $500 million in “free cash flow” within two years anticipates the price of natgas to be $2 per thousand cubic feet (Mcf).

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