Non-GAAP Measures The Company uses EQT Gathering EBITDA and EQT Transmission EBITDA as financial measures in this presentation. EQT Gathering EBITDA and EQT Transmission EBITDA are defined as the Companys EQT Gathering and EQT…
Key Investment Highlights Extensive reserves of natural gas* 13.5 Tcfe proved; 17 years R/P 6.8 Tcfe proved developed 97 Tcfe total resource potential Proven ability to profitably develop our reserves 8% production sales volume…
Production By Play Marcellus shale drilling driving growth 2,600 Marcellus 2,400 Other 2,200 2,000 1,800 Production MMcf/d 1,600 1,400 1,200 1,000 800 600 400 200 0 2006 2007 2008 2009 2010 2011 2012 2013 2014…
Marcellus Play Development strategically focused on core 735,000 total net acres* 415,000 core acres* 3,400 core locations* 743 wells online* 119 wells in 2017 76 PA, 43 WV 7,000 lateral length 6.0 MM / well 2.1 Bcfe EUR /…
Utica Play 490,000 EQT acres* Pettit 593066 3,100 locations* Greene County, PA 5,200 lateral Shipman 593894 5 wells online Greene County, PA 7,000 lateral 6 8 wells in 2017 6,800 lateral length Scotts Run 591340 Greene County,…
EQT GP Holdings, LP (NYSE: EQGP) EQT owns 90% LP interest of EQGP EQGP owns in EQM* 26.6% limited partner interest 1.8% general partner interest incentive distribution rights 48% of EQMs distributions flow to EQGP 2017…
EQT Midstream Partners, LP (NYSE: EQM) Assets owned by EQM Transmission & Storage* 4.4 Bcf/d current capacity** 43 Bcf gas storage capacity Gathering* 1.8 Bcf/d firm capacity EQT Production sales drive midstream growth 700 900…
EQT Midstream Partners, LP Transmission & Storage Equitrans Transmission & Storage 4.4 Bcf/d current capacity 950 mile FERC-regulated interstate pipeline 43 Bcf of gas storage capacity Ohio Valley Connector Placed into service…
EQT Midstream Partners, LP Marcellus gathering Pennsylvania 975 MMcf per day firm capacity 600 MMcf per day high pressure header pipeline for Range Resources expected Q2 2017 in-service 75 MMcf per day online in Q4 2016 10-year…
EQT Midstream Partners, LP Mountain Valley Pipeline Project Pipeline to growing natural gas demand market in southeast US 300-mile FERC-regulated pipeline 42 pipe diameter 3.0B-3.5B total project cost Q4 2018 targeted in-service JV…
Corporate Citizenship Safety Our first priority All accidents are preventable Company goal = zero incidents Committed to: The environment Our employees and contractors The communities where we drill and work EQT Foundation…
Investment Summary Extensive reserves of natural gas Proven ability to profitably develop our reserves 8% production sales volume growth in 2017 2017 CAPEX sets up 15 20% growth in 2018 Extensive and growing midstream business 2017…
Appendix 17
Core Marcellus Consolidation As of February 2, 2017 of net 159,000 acres acres Undeveloped 150,000 net acres net acres Value (B) 1.3 Value allocated to 82% undeveloped 7,060 Undeveloped per acre Since 2013, EQT has…
Upper Devonian Play Developed in conjunction with Core Marcellus 85,000 core near-term development acres 730 core locations* 83 wells online* 81 wells in 2017: 7,300 ft. laterals 5.6 MM / well 10.6 Bcfe EUR / well 1.5 Bcfe /…
Upper Devonian Economics *After-tax returns 24
Upper Devonian Benefits of Co-development Upper Devonian: Use it or lose it investment Shared infrastructure improves IRR per well Codevelopment increases value per acre by 50% Fracs Grow Toward Low Pressure Codevelopment…
Ample Financial Flexibility to Execute Business Plan EQT Debt ratings Moodys Standard & Poors Fitch Long-term debt Baa3 BBB BBB- Outlook Stable Stable Stable Strong balance sheet (MM, except net debt / capital) December 31,…
Non-GAAP Reconciliation EQT Gathering and EQT Transmission EBITDA ( in millions) 2014 2015 2016 EQT Gathering operating income 147 243 289 Add: Depreciation and amortization 24 24 30 EQT Gathering EBITDA 171 267 319 2014 2015 2016…
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