EQT announced Oct. 25 it had acquired about 60,000 core Marcellus acreage for $683 million.
EQT has increased its core Marcellus position by 143,000 acres, or 55 percent, throughout 2016 for a total of 400,000 acres, including these most recent acquisitions.
See full story at:
http://www.statejournal.com/story/33474628/eqt-acquires-core-marcellus-acres...
It was about 4 years ago that many major coal companies were buying up coal reserves at sky high prices using borrowed money, then the bottom fell out, and bankruptcies followed. Is gas going to follow the same path? We have known for 30 years that emissions of greenhouse gases from fossil fuels must be reduced, and all the math shows that the majority of fossil reserves must stay in the ground, yet these economic geniuses are paying >$11,000 per acre for gas reserves!
Jim Kotcon