Debt | Production Rates | Hedging | Capital Markets | Capital Expenditure
EQT : Prelim Q1'2020; Production Up; Adds 2021 Hedge Position 40%
Print
|
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
More Debt News
Ring Energy Details Preliminary 1Q22 Results; Production Beats Expectations
Ring Energy, Inc. provided an operational and financial update for the Company's first quarter 2022 sales, drilling program and further debt repayment. Highlights and Recent Key Items: Reported…
Marathon Oil Third Quarter 2021 Results
Marathon Oil Corp. reported its Q3 2021 results. Marathon reported third quarter 2021 net income of $184 million, or $0.23 per diluted share, which includes the impact of…
Continental Resources Second Quarter 2021 Results
Continental Resources, Inc. announced its second quarter 2021 operating and financial results. CEO Bill Berry commented: "Continental is delivering strong asset performance in addition to capital and operational…
Extraction Oil & Gas First Quarter 2021 Results
Extraction Oil & Gas, Inc. reported financial and operational results for the first quarter of 2021. Q1 2021 and Other Recent Highlights: Emerged from bankruptcy on January 20,…
SandRidge Energy First Quarter 2021 Results
SandRidge Energy Inc. announced financial and operational results for the quarter ended March 31, 2021. Highlights: Improved net cash1 by $48.2 million to a net cash position of…
Northeast News
Why $90 Oil Isn’t Bringing Back the Rigs
Higher oil prices are not translating cleanly into a drilling response across U.S. shale, and company disclosures are starting to show why. The issue is not simply capital…
Q1 A&D Transactions Jump to $30B , While Deal Flow Was Down 40%
The first quarter of 2026 has officially defined the "Barbell Era" of American oil and gas. While the total number of deals plummeted by 46% YoY (dropping to…
Ascent Resources 2026: A Quiet Growth Story for Oilfield Services
Ascent Resources may not be making headlines with rig additions or dramatic well count increases, but a closer read of their March 2026 investor presentation — compared against…
Infinity Closes $1.2B Utica Upstream & Midstream Deal
Infinity Natural Resources has completed its $1.2 billion acquisition of upstream and midstream assets in the Ohio Utica Shale from Antero Resources and Antero Midstream, according to company disclosures…
Antero Resources Completes $2.8B Marcellus Expansion
Antero Resources Completes $2.8B Marcellus Expansion Antero Resources has completed the previously announced acquisition of upstream assets from HG Energy II, LLC, significantly expanding its core position in…