EQT to press Marcellus over Huron, other plays

By OGJ editors
HOUSTON, Jan. 28
-- EQT Corp., Pittsburgh, will increase the projected number of Marcellus shale wells to be drilled in the next 5 years while anticipating reduced investment in the Huron shale, coalbed methane, and other plays in the same period.

In reporting that it replaced more than nine times its 2010 production, EQT ended the year with 5.22 tcfe of proved reserves, a 28% net increase from the end of 2009. Its proved, probable, and possible reserves totaled 21.177 tcfe, up 70%.

The 2010 reserves increases were driven mainly by the success of the company’s Marcellus and to a lesser extent its Huron horizontal drilling programs. The company includes the Lower Huron, Cleveland, Berea sandstone, and other Devonian shales except Marcellus in its Huron play.

Marcellus proved reserves grew to 2.879 tcfe at the end of 2010 from 1.061 tcfe a year earlier, while Huron proved reserves fell to 1.475 tcfe from 2.016 tcfe. EQT said Huron and CBM/other reserves previously booked as proved undeveloped have been removed because they will not be developed in the next 5 years.

Sales of produced natural gas were a record 134.6 bcfe, 34.5% higher than in 2009 and 48% derived from horizontal shale wells. Daily sales from Marcellus wells was 142 MMcfd at the end of 2010 and is expected to exceed 250 MMcfd by the end of 2011.

The company drilled 489 gross wells, 326 of them horizontal, including 236 Huron play wells with 3,850 ft typical pay length and 90 Marcellus wells at 3,735 ft. EQT drilled 95 wells for CBM, mostly in Nora field in Virginia.

Related Articles

BHI: US rig count recoups last week’s losses, jumps to 1,914

08/29/2014 The US drilling rig count jumped 18 units to reach 1,914 rigs working, gaining back the 17 units it lost last week plus one, during the week ended ...

MarkWest to expand processing, fractionation in Pennsylvania

08/26/2014 MarkWest Energy Partners LP, Denver, will expand midstream infrastructure at its Keystone complex in Butler County, Pa., the company said, to handl...

BHI: US rig count continues rise, reaches 1,913

08/15/2014

The US drilling rig count gained 5 units to reach 1,913 rigs working during the week ended Aug. 15, Baker Hughes Inc. reported.

Nova nears 100% NGL feedstock conversion at Corunna ethylene plant

08/15/2014 The cracker feedstock conversion project at Nova Chemicals Corp.’s Corunna, Ont., refinery and petrochemical complex, which was designed to allow t...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected