EQT plans 70 new gas wells in WV in 2014 - WTRF 7 News Sports Weather - Wheeling Steubenville

EQT plans 70 new gas wells in WV in 2014

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  • Many WV coal counties losing revenue

    Many WV coal counties losing revenue

    Monday, August 8 2016 10:15 AM EDT2016-08-08 14:15:05 GMT

    As Appalachian coal production continues its drastic decline, West Virginia’s coal-producing counties are  not only losing people as lifelong residents are forced to flee their homes in order to find work, but in many cases, they’re also relinquishing millions of dollars from their budgets.

    As Appalachian coal production continues its drastic decline, West Virginia’s coal-producing counties are  not only losing people as lifelong residents are forced to flee their homes in order to find work, but in many cases, they’re also relinquishing millions of dollars from their budgets.

EQT Corp. plans to bring 70 wells online in four counties in northern West Virginia next year, adding to the 96 it already has there, the company told analysts at a presentation this week.

Each well is an investment of about $6.6 million, EQT said.

A 4,800-foot lateral in a horizontally drilled and hydraulically fractured well  produces about 9,000 cubic feet of gas per day in its first month. That drops to about 3,000 Mcfe in the 11th month and levels to about 1,000 Mcfe in the 51st month, according to information released in the presentation.

EQT has about 90,000 acres in the wet-gas region of Tyler, Ritchie, Doddridge and Wetzel counties. About 79,000 of those acres are undeveloped.

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