EQT 2Q: 5.5-Mile Lateral, WV Power Deal, New Life for Old Wells
EQT Corporation issued second quarter 2026 results on July 21, followed by an analyst call on July 22. Here’s what matters if you lease acreage to EQT — or own the stock. The company produced more gas using less money in 2Q, raising its estimate of how much it will produce in 2026 by 90 Bcfe to 2,375-2,450 Bcfe (which works out to 6.5 to 6.7 Bcfe/d). As a point of reference, the country’s largest natural gas producer, Expand Energy, is estimating production of 7.5 Bcfe/d in 2026. For landowners leased with EQT with older wells, there’s good news about workovers. Read More “EQT 2Q: 5.5-Mile Lateral, WV Power Deal, New Life for Old Wells”
Yes, there is a direct connection between the Federal Energy Regulatory Commission’s (FERC) approval of the expansion of an underground salt-dome storage cavern project in Mississippi and the Marcellus/Utica. FERC has approved Leaf River Energy Center’s expansion of its New Home Salt Dome storage facility in Smith, Jasper, and Clarke counties, Mississippi, adding 19.18 Bcf of working gas capacity through new cavern development and facility upgrades. The project includes a new Cavern 5, expansion of Caverns 2 and 4, new compression, and pipeline additions, raising total working gas capacity from 36.0 to 55.18 Bcf. 
Despite rising Northeast gas demand from retiring coal plants and new data centers, plus added Appalachian pipeline capacity, production growth isn’t guaranteed—operators prioritize capital discipline, debt reduction, and shareholder returns over volume. Appalachia has held flat at roughly 33-36 Bcf/d since 2020. Can anything tempt Marcellus/Utica drillers to drill and produce more than they are now? According to RBN Energy, sustained Henry Hub prices above $4/MMBtu (versus the current $3.50-$3.60 long-dated curve) and better takeaway infrastructure could be enough of a temptation. 
Thanks to the work of David Hess at the PA Environment Digest Blog, which tracks Department of Environmental Protection (DEP) notices published in the Pennsylvania Bulletin, we know of two water pipeline projects (for EQT and Expand Energy) approved by the DEP related to drilling new shale wells in two different northeastern PA counties: Lycoming and Bradford. Water is used for fracking. New water pipelines mean new fracking is on the way in those locations. 
The Marcellus/Utica region received 28 new drilling permits last week, June 29 – July 5, down 3 from two weeks ago. Last week, Pennsylvania issued 18 new permits. Ohio issued 4 new permits. And, West Virginia issued 6 new permits. The drillers who received new permits included: Antero Resources (6), CNX Resources (10), EOG Resources (4), EQT (1), Expand Energy (3), and Range Resources (4). 
In a recent interview with Bloomberg, EQT CEO Toby Rice declared that natural gas is poised to surpass petroleum as America’s top energy source by 2030, ending oil’s 75-year dominance that began in 1950 when it overtook coal. In 2025, gas accounted for 36% of U.S. energy consumption, compared with petroleum’s 37%, with Rice predicting a crossover within a couple of years. The shale revolution’s cheap gas has displaced coal in power generation, fueled economic electrification, and complemented intermittent renewables, while flat gasoline demand — partly due to EVs — has stalled oil consumption. The EIA projects gas demand growing 3.4% through 2027 versus 0.6% for petroleum, and booming LNG exports add further momentum. 
EQT Corporation, the largest driller in the Marcellus/Utica (based on M-U production), recently achieved two records with the same Marcellus well. EQT drilled not only the “deepest” shale well in the continental U.S. (by “measured depth”), but also the longest horizontal shale well (by lateral length). EQT’s Longwell 9H well, located in Wetzel County, West Virginia (near the Pennsylvania border), eclipses a record set by Expand Energy in 2025 in Marshall County, WV. 
EQT Corp’s mixed-index natural gas product blends NYMEX Henry Hub futures with one or more physical basin indices (such as Dominion South) into a single sales contract, often weighted toward Henry Hub for hedging liquidity. Splitting exposure between national futures and local spot dynamics dilutes price swings, helping power generators, LNG exporters, and large industrials reduce earnings volatility while retaining some upside from favorable regional spreads. 