Reserves
EQT Increases Proved Reserves 30% as Well Performance Jumps
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EQT Corporation reported year-end 2015 proved developed reserves of 6.3 Tcfe, which was 30% higher than 2014; and total proved reserves of 10.0 Tcfe, a 0.7 Tcfe decrease from the previous year. In 2015, the increase in proved developed reserves was related to the completion of 245 wells and the addition of 386 Bcfe of positive revisions, which was primarily due to improved performance from producing wells.
The Company's 2015 proved undeveloped (PUD) reserves totaled 3.7 Tcfe, a 2.2 Tcfe decrease from the previous year. This decrease resulted from converting 1.5 Tcfe of PUD reserves to prove developed reserves during 2015, as well as the Company's decision to slow the pace of its five-year development plan from 144 wells per year to 74 wells per year, in response to lower commodity prices.
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