EQT to Phase out Upper Devonian for Utica

PITTSBURGH – EQT Corp. says it plans to phase out exploration of the Upper Devonian formation and concentrate on drilling dry gas in the Utica shale.

The decision was made because of the impressive results of its Scotts Run well in Greene County, Pa., the company’s first Utica well. The well’s 24-hour deliverability test stood at 72.9 million cubic feet per day. Following the test, the well produced an average of 27 million cubic feet per day over seven days with a restricted choke.

EQT said the well is now in shut-in mode and is awaiting construction of permanent production facilities.

The company plans to drill a second well in Greene County from an existing Marcellus shale pad in August. EQT also plans to spud a dry Utica well in Wetzel County, W. Va., in September.

“Given the extraordinary results of our first dry Utica well, we are accelerating our efforts in Greene County,” said Steve Schlotterbeck, executive vice president and president, exploration & production.

“Our focus is on creating a capital-efficient, dry Utica development plan that leverages existing pads, existing gathering infrastructure, and takeaway capacity. Consequently, we have re-evaluated our competing investment opportunities, and made a strategic decision to phase out our Upper Devonian drilling program.”

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