Dec 3 - EQT Corp (EQT.N) expects 2010 produced natural gas sales to climb 20 percent above its estimate for the current year, and said it plans to drill 40 horizontal wells in the Marcellus shale.
The integrated energy company, which focuses on natural gas production in the Appalachian area, forecast capital expenditures of $850 million for 2010 and expects production to total 120 billion cubic feet equivalent for the period.
The capital budget forecast includes $565 million for well development, $245 million for midstream projects and $40 million for other corporate items, the company said.
The company said its budget will be funded by cash from operations, a cash tax refund and its $1.4 billion revolving credit facility.
Shares of the company closed at $41.81 Wednesday on the New York Stock Exchange.
The integrated energy company, which focuses on natural gas production in the Appalachian area, forecast capital expenditures of $850 million for 2010 and expects production to total 120 billion cubic feet equivalent for the period.
The capital budget forecast includes $565 million for well development, $245 million for midstream projects and $40 million for other corporate items, the company said.
The company said its budget will be funded by cash from operations, a cash tax refund and its $1.4 billion revolving credit facility.
Shares of the company closed at $41.81 Wednesday on the New York Stock Exchange.
