EQT plans 70 new gas wells in WV in 2014 - WOWK 13 Charleston, Huntington WV News, Weather, Sports

EQT plans 70 new gas wells in WV in 2014

Posted: Updated:

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.