Top US Gas Producer EQT Saw Output Drops of 30% During Cold Snap

EQT Corp, the largest US natural gas producer, saw production drop by as much as about 30% during the recent bout of extreme cold that caused disruptions for some of its wells in the Appalachian Basin.

The drillers’ daily output fell by between 1 billion and 1.5 billion cubic feet per day during the winter storm, Chief Executive Officer Toby Rice said in a Bloomberg Television interview. That compares with production in the third quarter equivalent to about 5 billion cubic feet a day. Output issues are expected to be resolved in the “next couple of days,” he said.