EQT drops well count for 2019 in effort to reduce costs

摘要

US shale gas giant EQT is cutting its rig count in an effort to cut costs and boost operational efficiency as it remains embroiled in a battle against activist investors who want to change its board, writes Julia Martinez. The Pittsburgh-based company said it would drill 30 fewer wells in 2019 but will add 10 fracked wells, after negotiating a penalty-free, early reduction in its rig count. EQT will run between six and eight rigs in the Marcellus and Utica shale plays with up to seven frack crews for the full year.