Wow!!!!!!!!!!!!!

[dan_s]

EQT Corporation (NYSE: EQT) today announced completion of the flow-back operation on its Scotts Run 591340 dry Utica well located in Greene County, Pennsylvania. Last week, EQT Corporation announced the well’s 24-hour deliverability test of 72.9 MMcf per day, with an average flowing wellhead pressure of 8,641 psi. Following the 24-hour deliverability test, the well produced an average of 27.0 MMcf per day for a period of seven days under restricted choke, with an average flowing pressure of 9,563 psi.

The well is currently shut-in for installation of permanent production facilities that the Company expects to complete next week, after which a choke restricted rate of 25-30 MMcf per day is expected. The BTU content of the well is 1.018 MMBtu/Mcf with 98.5% methane.

[mkarpoff]

what does this wow mean to us please?

[dan_s]

That is one hell of a gas well. EQT has been on my list for months to profile.

Do the math. When a gas well produces at 27 MMcfpd at $2.50/mcf it is generating over $2 million per month of gross revenues.

Go to the EQT website and see where this well is located. Then go to RRC and GST websites and see were their acreage is.

[bearcatbob]

That is one hell of a gas well. EQT has been on my list for months to profile.

Do the math. When a gas well produces at 27 MMcfpd at $2.50/mcf it is generating over $2 million per month of gross revenues.

Go to the EQT website and see where this well is located. Then go to RRC and GST websites and see were their acreage is.

Dan, It is the repeated recurrence of wells like this in an oversupplied market that insures the market remains over supplied. I see nothing joyful in this news.

[wilmawatts]

Impressive IP. Hope the market tightens this winter for nat gas, but I am not as optimistic as some. LNG exports are coming, along with more nat gas power plants thanks to coal issues, but those will be years in development

[dan_s]

Natural gas production in the U.S. now falling by about a BCF per day each quarter.

In 2016 production will be down 3BCF per day and demand will be up 3BCF per day. I have a few slides on this in the presentation I made today at the Hess Club, which should be up on the website late today.

[cviller]

Dan,
Will these monster dry gas wells in the Marcellus/Utica produce monster volumes for decades or will they be mostly depleted after, say, three or four years? Thanks.

[bearcatbob]

Dan,
Will these monster dry gas wells in the Marcellus/Utica produce monster volumes for decades or will they be mostly depleted after, say, three or four years? Thanks.

IMO a better question is now that secret is "cracked" how many more monster wells can be drilled as money is available for drilling. I assume each will decline substantially - but it appears to me like the resource is huge and production is only dependent on how many "straw" are drilled into the milk shake.

Bob