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

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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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