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EQT Sees Low Production in Q1; Expects Rebound as DUCs Completed

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   |    Wednesday,May 10,2017

EQT released its Q1 2017 results. Highlights from the conference call / report include:

  • Completed two Marcellus acquisitions during Q1 adding 14,000 net acres from a third-party for $130 million and 53,400 net acres from Stone Energy for $522.5 million (the Stone acreage also included 44,100 net Utica acres)
  • Production sales volume was 190 bcfe in Q1 which was 6% higher than Q1 2016
  • Production was on the lower end of the guidance due to the company completing fewer wells than anticipated. EQT said the lower number of completions was caused by the inability of frac crews
  • From 2015, the company has grown its Marcellus laterals from 5,900’ to 8,000’ in 2016
  • EQT anticipates better completion results as it works on completing 35 DUCs from the Stone acquisition.

2024 Development Plan



Category
2023		 2024
Est. Initial		 Updated
2024 Guidance		 %Difference
(2023 vs 2024)
Total Capital Expenditure($mm)

      
Frac / Completion Crew (s)
Wells Completed/Frac(net)

      
Production Daily Equivalent(mmcfe/d)

 Click here for More Planned 2024 Activity


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First Quarter (1Q) Update   

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