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EQT : Prelim Q1'2020; Production Up; Adds 2021 Hedge Position 40%

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   |    Thursday,April 23,2020

EQT provided an update on its Q1'20 results.

Production

Sales volume averaged 380-385 Bcfe, exceeding the highend of the guidance range and up 2.4% vs 4Q'19

Average differential of ($0.20) - ($0.15) per Mcf, in-line with midpoint of the guidance range of ($0.25) - ($0.05) per Mcf

Capex

Capital expenditures of $250 - $270 million, approximately 25% lower than fourth quarter 2019 ($355 million)

Comany Operations and  A&D

Well costs of $740 - $750 per lateral foot in the Pennsylvania Marcellus, accelerating path towards target well costs

Total cash operating costs of $1.34 - $1.37 per Mcfe (includes, transportation and processing, production , exploration, SG&A and admin expense)

In advance talks to divest certain non-strategic assets for $125 million, against an initial plan in October 2019 to reduce leverage/debt by $1.5 billion by the mid-2020.

Heding Update

Increased 2021 hedge position to approximately 40% of expected production at an average realized floor price of $2.50 per Dth

 

 

 

 

 

 


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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