uploads///EQT Production

Understanding EQT’s Production Volumes

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Jan. 27 2016, Updated 3:57 p.m. ET

EQT’s production in 3Q15

For 3Q15, EQT’s (EQT) total production of ~156.3 Bcfe (billion cubic feet equivalent) is higher by ~27% when compared to ~123.3 Bcfe from 3Q14.

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EQT’s production trend

As you can see in the above graph, EQT’s total QoQ (quarter-over-quarter) production volumes are increasing steadily since 2Q14 at an average rate of ~7% per quarter. In 3Q15, EQT’s total production was higher by ~9.2 Bcfe, or ~6.3% QoQ. EQT attributed this QoQ production increase to improved well productivity, especially in the Marcellus Shale.

EQT’s production guidance

For 2015, EQT reaffirmed its previous guidance of total production volume in the range of 595–605 Bcfe. EQT is expecting 2015 liquids volume in a range of 9–10 million barrels. EQT is expecting most of its growth to come from the Marcellus Shale and the Utica Shale.

For 2016, EQT expects its total production volumes to be higher by 15% to 20%.

Other upstream companies that are also active in the Marcellus Shale and expecting strong production growth in natural gas volumes are Southwestern Energy (SWN), Consol Energy (CNX), and Range Resources (RRC). The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) generally invests at least 80% of its total assets in oil and gas exploration companies.

In the next part, we’ll look into EQT’s production mix and realized prices for 3Q15.

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