EQT’s $2.4 billion spending plan focuses on Marcellus, Utica wells

EQT Corp. plans to spend $2.4 billion on natural gas exploration and production in 2018, which will be the first full year following its acquisition of Rice Energy in November, reports the Pittsburgh Business Times. The newspaper says EQT announced it plans to drill 139 wells in the Marcellus shale formation, most in Pennsylvania, 38 wells in Ohio’s Utica shale play and 19 Upper Devonian wells alongside Marcellus wells pads in Pennsylvania. EQT will also turn in line 160 to 170 Marcellus wells, 40 to 50 wells in the Utica shale play and between 20 to 25 Upper Devonian wells. For more, read the full story.

Ohio, Pennsylvania