EQT posts higher profit in third quarter

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EQT Corp. posted profit of $88.3 million, or 58 cents per share, for the third quarter.

That’s up from $31.9 million, or 21 cents per share, during the same three months last year.

The Downtown Pittsburgh-based company attributed the showing to higher production from its Marcellus Shale wells, more sales and lower midstream costs.

The company drilled 32 Marcellus wells during the past three months, eight Upper Devonian wells and two Utica wells.

EQT reiterated that it expects the sale of its utility segment, Equitable Gas, to Peoples Natural Gas to complete regulatory review by the end of the year. During the past quarter, work on the deal cost EQT $400,000.

Anya Litvak: alitvak@post-gazette.com

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