Profile: EQT Corp (EQT)
14 Nov 2018
EQT Corporation (EQT), incorporated on June 10, 2008, is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. EQT Production is a natural gas producer in the Appalachian Basin. EQT Gathering and EQT Transmission provide gathering, transmission and storage services for the Company's produced gas, as well as for independent third parties across the Appalachian Basin.
EQT Production Business Segment
The EQT Production segment includes the Company's exploration for, and development and production of, natural gas, natural gas liquids (NGLs) and a limited amount of crude oil, primarily in the Appalachian Basin. The EQT Production segment also includes the marketing activities of the Company. EQT Production's properties are located primarily in Pennsylvania, West Virginia, Kentucky and Virginia. The Company's EQT Production segment held 13.5 trillion cubic feet of natural gas (Tcfe) of proved natural gas, NGLs and crude oil reserves across approximately 3.6 million gross acres, including approximately 790,000 gross acres in the Marcellus play, as of December 31, 2016. The Company's Marcellus assets constituted approximately 11.2 Tcfe of the Company's total proved reserves as of December 31, 2016. As of December 31, 2016, the Company's proved undeveloped reserves totaled 6.7 Tcfe, 100% of which is associated with the development of the Marcellus, including Upper Devonian, play.
The Company's wells located in Pennsylvania are primarily in Marcellus formations with depths ranging from 5,000 feet to 8,000 feet. Wells located in West Virginia are primarily in Marcellus and Huron formations with depths ranging from 2,500 feet to 6,500 feet. Wells located in Kentucky are primarily in Huron formations with depths ranging from 2,500 feet to 6,000 feet. Wells located in other areas are in Coalbed Methane, Utica and Permian formations with depths ranging from 2,000 feet to 13,500 feet.
EQT Gathering Business Segment
The operations of EQT Gathering include the natural gas gathering activities of the Company, consisting solely of assets that are owned and operated by EQT Midstream Partners, LP (EQM). As of December 31, 2016, EQT Gathering included approximately 300 miles of high pressure gathering lines with approximately 1.8 billion cubic feet (Bcf) of total firm gathering capacity and multiple interconnect points with EQT Transmission's transmission and storage system. As of December 31, 2016, EQT Gathering's system also included approximately 1,500 miles of Federal Energy Regulatory Commission (FERC)-regulated low pressure gathering lines. EQT Gathering focuses on various gathering expansion projects, including Range Resources Header Pipeline Project and Affiliate Gathering System Expansions.
EQT Transmission Business Segment
The operations of EQT Transmission include the natural gas transmission and storage activities of the Company, consisting solely of assets that are owned and operated by EQM. As of December 31, 2016, EQT Transmission's transmission and storage system included an approximately 950-mile FERC-regulated interstate pipeline that connects to six interstate pipelines and multiple distribution companies. The six interstate pipelines are Texas Eastern, Dominion Transmission, Columbia Gas Transmission, Tennessee Gas Pipeline Company, Rockies Express Pipeline LLC and National Fuel Gas Supply Corporation. The transmission system was supported by 18 associated natural gas storage reservoirs with approximately 645 million cubic feet (MMcf) per day of peak withdrawal capacity, 43 Bcf of working gas capacity and 41 compressor units, with total throughput capacity of approximately 4.3 Bcf per day, as of December 31, 2016. EQT Transmission focuses on various transmission projects, including Mountain Valley Pipeline and Transmission Expansion.
625 Liberty Ave Ste 1700
PITTSBURGH PA 15222-3114
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