Profit down at EQT

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EQT Corp. posted a third-quarter profit of $31.9 million, or 21 cents per diluted share, down from $67.6 million and 45 cents in the same quarter one year ago.

The Downtown Pittsburgh-based gas company also announced today third-quarter revenues of $364 million, up about $1.5 million from 2011.

In comparing the recently ended quarter's earnings to the third quarter of 2011, the company has excluded income earned by the selling of its Big Sandy pipeline for $390 million last year.

EQT drilled 30 wells in the Marcellus formation during the third quarter, and is on track for a year-end total of 132.

neigh_city - breaking - businessnews - marcellusshale

Erich Schwartzel: eschwartzel@post-gazette.com or 412-263-1455.


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