EQT reports sharp earnings increase - Beckley, Bluefield & Lewisburg News, Weather, Sports

EQT reports sharp earnings increase

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Aided by higher natural gas production in the Marcellus Shale region, EQT Corp. on Oct. 24 reported third-quarter earnings more than twice as high as last year's third quarter.

EQT said it earned $88.3 million in the quarter, which was 177 percent higher than its third quarter 2012 earnings of $31.9 million.

In the quarter, EQT Production had sales volume of 96.9 billion cubit feet equivalent, an average of 1.0 Bcfe per day, which was a 42 percent increase over the third quarter 2012. The increase was driven by a 74 percent production from the Marcellus. Natural gas liquids volume increased 35 percent in the quarter.