EQT Corp. outlined a $2.4 billion capital expenditure (capex) budget on Tuesday, lifted by plans to resume drilling operations in Kentucky’s Huron Shale formation and intent on putting the $740 million it earned from selling its gas utility toward boosting liquids volume and further developing its expansive Marcellus Shale position.
Marcellus
Articles from Marcellus
Chief Oil & Gas Pays Chesapeake $500M for Marcellus Leasehold
Chief Oil & Gas and two working interest partners have paid $500 million to Chesapeake Appalachia LLC to acquire MKR Holdings LLC, a deal that includes 130 MMcf/d of production, approximately 40 operated wells waiting on completion or pipeline, and about 75,000 gross-acre leasehold in Bradford, Lycoming, Sullivan, Susquehanna and Wyoming counties in Pennsylvania’s Marcellus Shale, the privately-owned company said Wednesday.
Marcellus Helps Drive Range to New Heights
Heavy investments and a strong focus in the Marcellus Shale play have landed Range Resources Corp. a place in the 1 Bcfe/d club.
Rice Energy Unveils Operations in $800M IPO
Rice Energy Inc. unveiled sound prospects in documents filed for an $800 million public offering, shining a light on the small independent’s prime acreage in the Appalachian Basin where it plans to step on the gas in the years ahead, starting with a $1.08 billion capital budget next year.
NY Governor Repeats Promise of Frack Decision Before Election
New York Gov. Andrew Cuomo reportedly repeated his promise to make a decision on whether to lift a moratorium on high-volume hydraulic fracturing (HVHF) before the next gubernatorial election in 2014.
Researchers Continue Air Quality Studies in West Virginia Without State
With the help of county-level officials, researchers at West Virginia University (WVU) continue to press ahead with an air quality study at Marcellus drilling sites across the state, finding elevated levels of benzene in the air that they claim are of concern.
Pennsylvania Schedules Public Hearings, Webinars for New Act 13 Rules
The Pennsylvania Department of Environmental Protection (DEP) planned to open a 60-day public comment period Saturday (Dec. 14) for proposed regulations regarding surface activities related to oil and gas well development. The regulations would be added to Act 13, the state’s omnibus Marcellus Shale law.
Trajectory of Marcellus Development Offers Look at Play’s Future
Standard & Poor’s Ratings Services last year deemed the Marcellus Shale as the lowest-cost play in the country with the highest rate of return, indicating that production there was a drop in the bucket compared to what truly was underground (see Shale Daily, Oct. 18, 2012).
Magnum Has Eyes on Appalachia Next Year
Magnum Hunter Resources Corp. will continue to push ahead in 2014 with plans to focus more sharply on its core assets in the Marcellus and Utica shale regions of West Virginia and Ohio, with plans to spend more than half of its capital budget in Appalachia next year.
Utilities Delivering Cheap Utica/Marcellus Gas Locally
Although brutally cold weather across much of the country is driving up natural gas delivery costs for utility companies, particularly those in the Northeast, increased production in the Marcellus and Utica shale formations has continued to push down the price customers are paying for the commodity this year as more utilities utilize local gas produced in the Appalachian Basin.