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Equitable Resources, Inc. Q1 2008 Earnings Call Transcript

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2008-05-01 11:59:07.0

Tags: Equitable Resources Inc.

Question-and-Answer Session

Gentleman, your first question comes from the line Scott Hanold of RBC Capital Market.

Scott Hanold - RBC Capital Markets

That was a lot of operational update. I just want to kind of hit a couple of points, just to kind of clarify some information, on the Marcellus wells what is your total high-pressure Marcellus drilling program look like this year?

Murry S. Gerber - Chairman and Chief Executive Officer

We’re hoping to drill 8 to 10 horizontals and another six at least verticals this year.

Scott Hanold - RBC Capital Markets

And those are all high pressure.

Murry S. Gerber - Chairman and Chief Executive Officer

Yes. Right.

Scott Hanold - RBC Capital Markets

Okay. Are you... when you kind of talk some of the West Virginia wells, are those still in the high-pressure zone or just somehow get two more of the lower pressure?

Murry S. Gerber - Chairman and Chief Executive Officer

The ones I mentioned, right, we are drilling the well in Wetzel County, it’s a high-pressure Marcellus well.

Scott Hanold - RBC Capital Markets

Okay.

Murry S. Gerber - Chairman and Chief Executive Officer

But to answer your question, the northern portion of West Virginia as best we understand all the data, a significant portion of that well. Our acreage in that northern West Virginia segment is in the high-pressure Marcellus, which is... so the answer to your question is yes, because wells are being drilled in high-pressure Marcellus.

Scott Hanold - RBC Capital Markets

Okay. Got it. And when you... the first horizontal well, Marcellus well, that you're going to be stimulating next month, was that the one that ends up being drilled in the Hamilton and you'll frac down in Marcellus?

Murry S. Gerber - Chairman and Chief Executive Officer

Yes. We're still... right, that's the same well. We are still, again the delay there is just waiting to get on pipeline, we will be getting a pipeline there. And then, of course we took this, as I said, we call this audible to drill that second well deeper to test the Utica at the same time.

Scott Hanold - RBC Capital Markets

Okay. And when you talk about potentially producing both the Marcellus and Utica, you're considering the difference in depths, do you pursue there will be potential like pressure issues.

Murry S. Gerber - Chairman and Chief Executive Officer

Well. There are going to be two separate wells.

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