Replies to This Discussion

Permalink Reply by TM on February 13, 2014 at 11:12am

In our Ohio Utica play, we announced a 21 well program for 2014. The intent of this program is to see if we can crack the code in the condensate light oil window. While our first 3 wells were, frankly, mediocre, we are encouraged enough by initial results to try very specific changes to our drilling and completion design intended to improve the economics materially. If we are successful, there is significant acreage available nearby at relatively inexpensive prices largely because of the skepticism about this part of the play.

As you know, we pride ourselves on being innovative, but we need to be confident that successful innovation creates a sufficient reward and the ability to expand our Utica opportunities that economically provides that. By year end, we hope to add or demonstrate sufficient improvements in which case it would make sense to add acreage, or conclude that we cannot achieve the needed improvements at this time and discontinue drilling.

http://seekingalpha.com/article/2020091-eqt-management-discusses-q4...

Permalink Reply by TM on February 22, 2014 at 11:42am

I seen today EQT has a joint operating agreement with Amarodo Appalachia. They are together on the Dobeck wells. EQT has 94.35% and Amarodo has 5.65% working interest in the unit. EQT is the operator and Amarodo is non op partner. This was filed on Feb 19th.

EQT also gave Amarodo an assignment 6.20% in the Clark Unit for 82 acres.

Permalink Reply by Shon Lenzo on March 30, 2014 at 2:37am

So, for the final driller.....what was the percentage
paid out in royalties.....26%?

Permalink Reply by William Lucas on March 29, 2014 at 11:48am

Any new update on the Keilitz well off Crane Run?

Permalink Reply by Mike Fulper on March 30, 2014 at 2:16am

Only thing ive heard is ... be quite a while down the road... possibly late this year  ?

I don't think the pad has been started...

EQT is gonna see what these next 5 wells are gonna produce.. I would think...

Permalink Reply by Mike Fulper on April 8, 2014 at 10:48am

Oil tanker trucks going out from clark well.. Monday and Tuesday.... today..

The big green storage tanks must be near full and they are hauling...it out..

then things go quiet for a few days...

Permalink Reply by TM on April 24, 2014 at 6:38am

In 2014, EQT will complete and evaluate 5 Utica wells drilled in 2013 but has decided to delay further drilling on its Ohio Utica acreage until after this year.

http://online.wsj.com/article/PR-CO-20140424-907549.html

Permalink Reply by James Vanderink on April 24, 2014 at 7:31am

I just saw that also. Just when we think they were close to cracking the code they leave.

Permalink Reply by TM on April 24, 2014 at 1:54pm

The next comment is on the Utica. While we do not have any Utica results to share with you today, we do have an activity update. Our original capital budget contemplated drilling 21 Utica wells this year. We have revised that number to 0. Our current plan is just with only 5 wells that were spud in 2013. The first 3 will be completed in the current quarter using the different frac design on the wells completed last year. We will evaluate the results of the first 3 wells, probably revise our approach again and then frac our remaining 2 wells later in the year. Only after evaluating all those results will we decide whether to drill additional wells and if any such additional wells would not be spud in 2014.

We will use the capital allocated for the 21 Utica wells to drill 8 additional Marcellus wells and 13 additional Upper Devonian wells in 2014. Volumes from these wells will show up in 2015 but they will not impact our 2014 guidance.

Christine Cho - Barclays Capital, Research Division

Okay. And then last one for me. Can you discuss what drove your decision to postpone your 2014 Utica program without even getting any of your own well results? Is some of this based on maybe competitor results, or just kind of the thinking around there?

Christine, this is Steve. I think the decision was driven by the fact that the first wells that we drilled were not where they needed to be to have a viable economic play there. We have some very specific completion design changes we're going to implement. And we just thought it prudent to execute those changes, get the data, evaluate the data.

And do expect that, since we're doing it in 2 phases, we'll make some changes based on the first phase and then collect the data from the second before we commit a lot of capital dollars into another drilling program. So we think 5 wells, we'll learn a lot from those 5 wells, and we just want to be prudent with the capital investments we're making.

http://seekingalpha.com/article/2162613-eqt-management-discusses-q1...

Permalink Reply by bo boboski on April 24, 2014 at 9:43pm

Maybe they; like a few others, will wait to see what the Ohio Gubner does with the severance tax.

Permalink Reply by Tony Yurina on April 28, 2014 at 3:24pm

1. Pending severance tax. $$
2. Seismic monitoring near fault lines. $$
3. Potential to lose all down hole costs if there are issues. $$$$$$$
This adds up to significant financial risk, added risk by questionable public policy initiatives only burdening a struggling western volatile oil development.

Operators do draw the financial line and risk line. What would you do if it were our $$$ millions invested ?

Permalink Reply by James Vanderink on April 28, 2014 at 10:29pm

I think you hit the nail on the head. This fault thing is bad for drilling companies. Real Bad!!

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