EQT Co. Boosts Marcellus Natural Gas Projections

PITTSBURGH (AP) – EQT Co. has released new projections for its Marcellus Shale drilling operations in Pennsylvania and West Virginia.

The Pittsburgh energy company says in an investor presentation released Friday that wells in southwestern Pennsylvania and West Virginia are now expected to produce the equivalent of almost 10 billion cubic feet of gas over their lifetimes. That’s up from previous estimates. Central Pennsylvania wells are expected to produce about 6.6 billion cubic feet.

One billion cubic feet of gas equals about 180,000 barrels of oil.

EQT says it ultimately anticipates drilling 1,080 wells over the 95,000 acres it holds in southwestern Pennsylvania. The company currently has 109 wells online, and owns drilling rights to about 560,000 Marcellus acres in the region.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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