Key Investment Highlights Unmatched combination of scale, growth, inventory, financial quality and cost structure Leading natural gas producer in the United States Focused on development of the Marcellus Shale Industry-leading cost…
EQT Profile Well-positioned to improve overall well economics and deliver stronger returns Market Cap(1) 15.1 B Enterprise Value(2) 20.9 B Net Marcellus Acres(3) 1,000,000 Core Net Marcellus Acres(3) 680,000 Core Marcellus…
2018 Capital and Development Plan Volume growth of 17% forecast within cash flow 2018 capital investments of 2.4 B* 2.2 B for well development 2018F Average Spuds Length (ft) PA Marcellus 106 13,600 WV Marcellus 28 8,600…
Rice Acquisition Implementation Strategy Significant progress in synergies this year 2018 17% production growth with cash flow breakeven Approved plan to address the sum-of-the-parts discount Begin to realize capital, operational and…
EQT Plans to Separate Midstream Business Creating Two Premier, Independent Energy Companies EQT Production (Upstream) Benefits Leading natural gas producer in the United States 2018E sales volumes of 1,520 1,560 Bcfe Distinct…
EQT Plans to Separate Midstream Business Separation and Midstream Streamlining Timelines Separation Timeline Key Milestones Start Date Anticipated Completion Date Establish Management, BOD, and Separation Plan Underway By End of Q3…
Improving Economics Marcellus Longer laterals and more wells per pad reduce cost per foot 14,000 12,000 10,000 Lateral length (ft.) 8,000 6,000 4,000 2,000 - 2013 2014 2015 2016 2017 2018E 10 Includes Upper…
Marcellus Play Development strategically focused on core 1,000,000 total net acres 680,000 core acres 2,500 core undeveloped locations* 134 wells in 2018 106 PA, 28 WV 12,600 ft. average lateral length 11.3 MM / well…
Corporate Structure Announced separation of midstream business Current Structure and Midstream Streamlining Transactions After Separation and Midstream Streamlining EQT EQT NewCo Corp. EQT Production LP Units Public Retained…
MLPs EQM and RMP Strategically located assets connecting supply to demand markets EQT Midstream Partners (NYSE: EQM) 2.3 Bcf per day firm gathering capacity, including 600 MMcf per day high pressure header pipeline for Range…
EQT Midstream Partners Mountain Valley Pipeline connects supply hub to southeast power generation markets JV with NextEra, ConEd, WGL, RGC Resources 45.5% EQM ownership interest EQM to construct and operate pipeline 3.5 B total…
Key Investment Highlights Unmatched combination of scale, growth, inventory, financial quality and cost structure Leading natural gas producer in the United States Focused on development of the Marcellus Shale Industry-leading cost…
Ohio Utica Play 65,000 total net acres 190 undeveloped locations* 45 gross (25 net) wells in 2018 11,000 ft. average lateral length 13.6 MM / well 2.1 Bcfe EUR / 1,000 66% working interest 80% NRI Development area Ohio…
Upper Devonian Play Developed in conjunction with Core Marcellus 149,000 total net acres 500 undeveloped locations* 16 wells in 2018 15,800 ft. average laterals 10.9 MM / well 1.5 Bcfe EUR / 1,000 100% working interest 84%…
Rice Acquisition Synergy Summary Base Synergy Metric Up to PV (B)* Capital efficiencies Laterals extended to 12,000 feet 1.9 G&A savings 100 million per year 0.6 Upside Synergy Metric Up to PV (B)* Drilling and completion best…
Risk Management Hedge Position 800 3.30 2018 2019 2020 700 3.17 3.20 NYMEX Price (/Mcf) as of 1/31/18 3.12 2.97 2.94 NYMEX Swaps 600 3.06 3.05 3.10 Total Volume (Bcf) 541 234 234 3.12 Average Price per Mcf (NYMEX) 3.14 3.03…
Marcellus Capacity Diversified portfolio targeting premium markets Significant exposure Ohio/Midwest Pipe Project ISD DTH/D to growing Gulf REX REX E2W Z3 En. Current Current 350,000 200,000 490,000 markets TETCO U2GC…
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