EQT Corporation Oil & Gas Exploration and Production Operations and Cost Analysis - Q4, 2015

 Published On: May, 2016 |    No of Pages: 89 |  Published By: GlobalData | Format: PDF
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Summary

EQT Corporation (EQT) is an integrated oil and gas company. It carries out the production, gathering, transmission, and storage of natural gas. The company conducts its operations through two business segments: EQT Production and EQT Midstream. EQT Production operates in the Appalachian region of the US and is one of the leading natural gas producers in the region. EQT Midstream provides gathering, transmission and storage services for the company’s produced gas and for independent third parties across the Appalachian Basin. It sells natural gas to marketers, utilities and industrial customers mainly in the Appalachian Basin and a gas processor in Kentucky and West Virginia. EQT is headquartered in Pittsburgh, Pennsylvania, the US

EQT Corporation Oil & Gas Exploration and Production Operations and Cost Analysis is the latest report from GlobalData, the industry analysis specialists, that offers comprehensive information on the operational and financial performance of the company. The report is an essential source for key operational metrics, analysis and provides a strategic insight into the company. The report provides an annual and quarterly overview of oil and gas reserves and production, changes in reserves, costs incurred and results of oil and gas operations, acreage and well details, share price performance and key valuation metrics.

Scope

The report provides in-depth analysis and insights into companies’ capital spending, revenues, oil and gas reserves, production, and performance measures. Its scope includes the following -
- The report provides detailed and unique insight information on the key operational metrics. It gives a comprehensive overview of oil and gas production and reserves, costs incurred and results of oil and gas operations, acreage and well details and other performance metrics.
- Provides details with respect to the company’s oil and gas reserves and production information by country. It further consists of in-depth information on the company’s expenditures in relation to the acquisition, exploration and development activities; developed and undeveloped acreage position; key costs and revenue information; and performance metrics of the company as disclosed in its annual reports and regulatory filings.
- Provides a comprehensive overview of the company’s share price performance and key valuation metrics such as market capitalization, enterprise value, EV/Production ($boe/d) and EV/Proved Reserve ($/boe).
- Provides information on key operational and financial metrics on an annual and quarterly basis. The annual information provided is for a five-year period and the quarterly information is for the last five quarters.

*Note:

1. The scope mentioned above is generic and may not apply to all the companies. The report is based on the information disclosed by the companies in their annual and quarterly reports, regulatory filings and other company documents and sources.
2. Quarterly information is provided only for the companies that are December ending and files quarter reports and documents.
3. There can be cases where countries/regions data column/Charts will be blank. This can be due to the fact that the company might have discontinued the reporting of those countries/regions. Information that is not disclosed by the company may not be available in the report.

Reasons to buy

The report will enhance your decision making capability in a more rapid and time sensitive manner. It will allow you to -
- Be up-to-date with the latest information and in-depth analysis of the operational metrics of the company.
- Identify M&A targets from up-to-date information and in-depth analysis on financial and operational metrics of your competitors.
- Rank your performance against other companies in the exploration and production (E&P) sector using operational and financial benchmarking metrics.
- Formulate your strategies based on in-depth analysis of your competitors’ financial and operational data.
- Exploit the strengths and weakness of your closest competitors by comparing and analyzing their financial and operational metrics.
- Establish relative performance among the industry’s players based on key operational and financial measures.

Table of Contents
Table of Contents 2
List of Tables 5
List of Figures 6
Company Snapshot 8
Key Information 8
Company Overview 8
EQT Corporation, Valuation and Financial Data 9
EQT Corporation, Share Price Performance 9
Share Price Performance, Q4, 2014-Q4, 2015 9
EQT Corporation, Key Valuation Metrics 10
Key Valuation Metrics, Q4, 2014-Q4, 2015 10
EQT Corporation, Quarterly Results of Oil & Gas Operations Per boe Produced 11
Results of Oil & Gas Operations Per boe Produced, Q4, 2014-Q4, 2015 11
Results of Oil & Gas Operations Per boe Growth Rates, Q4, 2014-Q4, 2015 12
EQT Corporation, Quarterly E&P Costs Trends 13
Upstream Capital Expenditure, Q4, 2014-Q4, 2015 13
EQT Corporation, Quarterly Production Trends 14
EQT Corporation, Total Oil and Gas Production 14
Total Crude Oil and Natural Gas Production Trend, Q4, 2014-Q4, 2015 14
Total Crude Oil & Natural Gas Production, By Country/Region, Q4, 2014-Q4, 2015 15
EQT Corporation, Crude Oil Production 16
Total Crude Oil Production Trend, Q4, 2014-Q4, 2015 16
Crude Oil Production, By Country/Region, Q4, 2014-Q4, 2015 17
EQT Corporation, Natural Gas Production 18
Total Natural Gas Production Trend, Q4, 2014-Q4, 2015 18
Natural Gas Production, By Country/Region, Q4, 2014-Q4, 2015 19
EQT Corporation, Valuation and Financial Data, 2011-2015 20
EQT Corporation, Share Price Performance, 2011-2015 20
Share Price Performance, 2011-2015 20
Key Valuation Metrics, 2011-2015 21
EQT Corporation, Production and Reserves Trends 22
Total Oil and Gas, Reserves and Production 22
Total Crude Oil and Natural Gas Production and Reserves Trend, 2011-2015 22
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2011-2015 24
Total Crude Oil and Natural Gas Reserve Changes, 2011-2015 26
Crude Oil/Liquids Production and Reserve 27
Crude Oil/Liquids Production and Reserve Trend, 2011-2015 27
Crude Oil Production and Reserves By Country/Region, 2011-2015 28
Crude Oil/Liquids Reserve Changes, 2011-2015 30
Natural Gas Production and Reserve 31
Natural Gas Production and Reserve Trend, 2011-2015 31
Natural Gas Production and Reserves, By Country/Region, 2011-2015 32
Natural Gas Reserve Changes, 2011-2015 34
Total Crude Oil and Natural Gas Reserves Life Index 35
Total Crude Oil and Natural Gas Reserves Life Index, 2011-2015 35
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2011-2015 36
EQT Corporation, E&P Costs Trends 38
Allocation of the Upstream Capital Expenditure 38
Upstream Capital Expenditure, 2011-2015 38
Acquisition Costs By Country/Region, 2011-2015 39
Exploration and Development Costs, By Country/Region, 2011-2015 41
Oil and Gas Cost Per boe, US$/boe 43
Oil and Gas Cost Per boe, US$/boe, 2011-2015 43
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2011-2015 45
EQT Corporation, Reserve Replacement Ratio 47
Oil and Gas Production Replacement Ratio 47
Oil and Gas Production Replacement Ratio, 2011-2015 47
Oil and Gas Production Replacement Ratio, By Country/Region, 2011-2015 49
EQT Corporation, Results of Oil & Gas Operations Trend 53
Oil and Gas Revenue and Expenses 53
Oil and Gas Revenue and Expenses, 2011-2015 53
Oil and Gas Revenue and Expenses, By Country/Region, 2011-2015 54
Oil and Gas Revenue and Expenses, Per boe 59
Oil and Gas Revenue and Expenses, By boe, 2011-2015 59
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2011-2015 60
Oil and Gas Performance Metrics 64
EQT Corporation, Land Holdings and Well Data 65
Developed and Undeveloped Acreage 65
Gross and Net Developed and Undeveloped Acreage, 2011-2015 65
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2011-2015 66
Well Statistics 69
Producible Oil and Gas Well, 2011-2015 69
Producible Oil and Gas Well, By Country/Region, 2011-2015 70
Exploration and Development Wells Drilled, 2011-2015 74
Recent Developments 75
EQT Corporation - Recent Developments 75
Mar 17, 2016: EQT Announces Appointment Of Robert J. McNally As Chief Financial Officer 75
Feb 04, 2016: EQT Announces 2015 Proved Reserves Of 10.0 Tcfe 75
Feb 04, 2016: EQT Reports Year-End and Fourth Quarter 2015 Earnings 76
Dec 07, 2015: EQT Announces 2016 Operational Forecast 79
Dec 03, 2015: EQT Appoints New President 80
Oct 26, 2015: EQT: Elects New Board Member 80
Oct 22, 2015: EQT Reports Third Quarter 2015 Earnings 81
Oct 09, 2015: U.S. Department Of Energy: Newly Released Study Highlights Significant Utica Shale Potential 83
Jul 30, 2015: EQT Releases Seven-Day Data For Utica Well 83
Jul 23, 2015: Corrected EQT Reports Second Quarter 2015 Earnings 84
Appendix 87
Methodology 87
Coverage 87
Secondary Research 87
Primary Research 87
Data Information Sources 88
Company Source 88
SEC/Other Regulatory Filings 88
Other Sources 88
Expert Panel Validation 88
Data Definition 88
Oil and Gas Reserves 88
Units of Measure 89
About GlobalData 89
Disclosure 89
Disclaimer 89

List of Tables
Table 1: EQT Corporation, Key Facts 8
Table 2: EQT Corporation, Share Price Performance, Q4, 2014-Q4, 2015 9
Table 3: EQT Corporation, Key Valuation Metrics, Q4, 2014-Q4, 2015 10
Table 4: EQT Corporation, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2014-Q4, 2015 11
Table 5: EQT Corporation, Results of Oil & Gas Operations Per boe Growth Rates, %, Q4, 2014-Q4, 2015 12
Table 6: EQT Corporation, Upstream Capital Expenditure, Q4, 2014-Q4, 2015 13
Table 7: EQT Corporation, Total Crude Oil and Natural Gas, Production, Q4, 2014-Q4, 2015 14
Table 8: EQT Corporation, Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2014-Q4, 2015 15
Table 9: EQT Corporation, Total Crude Oil Production, mmbbl, Q4, 2014-Q4, 2015 16
Table 10: EQT Corporation, Crude Oil Production, By Country/Region, mmbbl, Q4, 2014-Q4, 2015 17
Table 11: EQT Corporation, Total Natural Gas Production, bcf, Q4, 2014-Q4, 2015 18
Table 12: EQT Corporation, Natural Gas Production, By Country/Region, bcf, Q4, 2014-Q4, 2015 19
Table 13: EQT Corporation, Share Price Performance, 2011-2015 20
Table 14: EQT Corporation, Key Valuation Metrics, 2011-2015 21
Table 15: EQT Corporation, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 23
Table 16: EQT Corporation, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2011-2015 25
Table 17: EQT Corporation, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2011-2015 26
Table 18: EQT Corporation, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 27
Table 19: EQT Corporation, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2011-2015 29
Table 20: EQT Corporation, Crude Oil Reserve Changes, mmbbl, 2011-2015 30
Table 21: EQT Corporation, Natural Gas Production and Reserves Metrics, bcf, 2011-2015 31
Table 22: EQT Corporation, Natural Gas Production and Reserves, By Country/Region, bcf, 2011-2015 33
Table 23: EQT Corporation, Natural Gas Reserve Changes, bcf, 2011-2015 34
Table 24: EQT Corporation, Oil and Gas Reserves Life Index, Years, 2011-2015 35
Table 25: EQT Corporation, Oil and Gas Reserves Life Index, By Country/Region, Years, 2011-2015 37
Table 26: EQT Corporation, Upstream Capital Expenditure, US$ mil, 2011-2015 38
Table 27: EQT Corporation, Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 40
Table 28: EQT Corporation, Exploration and Development Costs, By Country/Region, US$ mil, 2011-2015 42
Table 29: EQT Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 43
Table 30: EQT Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2011-2015 46
Table 31: EQT Corporation, Oil and Gas Production Replacement Ratio, %, 2011-2015 47
Table 32: EQT Corporation, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2011-2015 52
Table 33: EQT Corporation, Revenue and Expenses, US$ mil, 2011-2015 53
Table 34: EQT Corporation, Revenue and Expenses, By Country/Region, US$ mil, 2011-2015 58
Table 35: EQT Corporation, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 59
Table 36: EQT Corporation, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2011-2015 63
Table 37: EQT Corporation, Oil and Gas Performance Metrics, 2011-2015 64
Table 38: EQT Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 65
Table 39: EQT Corporation, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2011-2015 68
Table 40: EQT Corporation, Producible Oil and Gas Wells, 2011-2015 69
Table 41: EQT Corporation, Producible Oil and Gas Wells, By Country/Region, 2011-2015 73
Table 42: EQT Corporation, Exploratory and Developed Wells, 2011-2015 74

List of Figures
Figure 1: EQT Corporation, Share Price Performance, USD/Share, Q4, 2014-Q4, 2015 9
Figure 2: EQT Corporation, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q4, 2014-Q4, 2015 10
Figure 3: EQT Corporation, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2014-Q4, 2015 11
Figure 4: EQT Corporation, Upstream Capital Expenditure, US$ mil, Q4, 2014-Q4, 2015 13
Figure 5: EQT Corporation, Total Crude Oil and Natural Gas, Production, mmboe, Q4, 2014-Q4, 2015 14
Figure 6: EQT Corporation, Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2014-Q4, 2015 15
Figure 7: EQT Corporation, Total Crude Oil Production, mmbbl, Q4, 2014-Q4, 2015 16
Figure 8: EQT Corporation, Crude Oil Production, By Country/Region, mmbbl, Q4, 2014-Q4, 2015 17
Figure 9: EQT Corporation, Total Natural Gas Production, bcf, Q4, 2014-Q4, 2015 18
Figure 10: EQT Corporation, Natural Gas Production, By Country/Region, bcf, Q4, 2014-Q4, 2015 19
Figure 11: EQT Corporation, Share Price Performance, USD/Share, 2011-2015 20
Figure 12: EQT Corporation, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2011-2015 21
Figure 13: EQT Corporation, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 22
Figure 14: EQT Corporation, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2011-2015 24
Figure 15: EQT Corporation, Total Oil & Gas Production, By Country/Region, mmboe, 2011-2015 24
Figure 16: EQT Corporation, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2015 26
Figure 17: EQT Corporation, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 27
Figure 18: EQT Corporation, Oil Reserves, End of Period, By Country/Region, mmbbl, 2011-2015 28
Figure 19: EQT Corporation, Oil Production, By Country/Region, mmbbl, 2011-2015 28
Figure 20: EQT Corporation, Crude Oil Reserve Changes, mmbbl, 2015 30
Figure 21: EQT Corporation, Natural Gas Production and Reserves Metrics, bcf, 2011-2015 31
Figure 22: EQT Corporation, Gas Reserves, End of Period, By Country/Region, bcf, 2011-2015 32
Figure 23: EQT Corporation, Gas Production, By Country/Region, bcf, 2011-2015 32
Figure 24: EQT Corporation, Natural Gas Reserve Changes, bcf, 2015 34
Figure 25: EQT Corporation, Oil and Gas Reserves Life Index, Years, 2011-2015 35
Figure 26: EQT Corporation, Gas Reserve Life Index, By Country/Region, Ratio, 2011-2015 36
Figure 27: EQT Corporation, Oil & Gas Reserve Life Index, By Country/Region, Ratio, 2011-2015 36
Figure 28: EQT Corporation, Oil Reserve Life Index, By Country/Region, Ratio, 2011-2015 37
Figure 29: EQT Corporation, Upstream Capital Expenditure, US$ mil, 2011-2015 38
Figure 30: EQT Corporation, Proved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 39
Figure 31: EQT Corporation, Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 39
Figure 32: EQT Corporation, Development Costs, By Country/Region, US$ mil, 2011-2015 41
Figure 33: EQT Corporation, Exploration Costs, By Country/Region, US$ mil, 2011-2015 41
Figure 34: EQT Corporation, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 43
Figure 35: EQT Corporation, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 45
Figure 36: EQT Corporation, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 45
Figure 37: EQT Corporation, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 46
Figure 38: EQT Corporation, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2011-2015 47
Figure 39: EQT Corporation, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2011-2015 49
Figure 40: EQT Corporation, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2011-2015 49
Figure 41: EQT Corporation, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2011-2015 50
Figure 42: EQT Corporation, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2011-2015 50
Figure 43: EQT Corporation, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2011-2015 51
Figure 44: EQT Corporation, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2011-2015 51
Figure 45: EQT Corporation, Revenue and Expenses, US$ mil, 2011-2015 53
Figure 46: EQT Corporation, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 54
Figure 47: EQT Corporation, Exploration Expenses, By Country/Region, US$ mil, 2011-2015 54
Figure 48: EQT Corporation, Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 55
Figure 49: EQT Corporation, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 55
Figure 50: EQT Corporation, Oil & Gas Revenue, By Country/Region, US$ mil, 2011-2015 56
Figure 51: EQT Corporation, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 56
Figure 52: EQT Corporation, Production Costs, By Country/Region, US$ mil, 2011-2015 57
Figure 53: EQT Corporation, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 57
Figure 54: EQT Corporation, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 59
Figure 55: EQT Corporation, Exploration Expenses per boe, By Country/Region, US$/boe, 2011-2015 60
Figure 56: EQT Corporation, Income Tax/(Benefit) per boe, By Country/Region, US$/boe, 2011-2015 60
Figure 57: EQT Corporation, Lifting Cost per boe, By Country/Region, US$/boe, 2011-2015 61
Figure 58: EQT Corporation, Annual Net Income per boe, By Country/Region, US$/boe, 2011-2015 61
Figure 59: EQT Corporation, Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2011-2015 62
Figure 60: EQT Corporation, Total DD&A per boe, By Country/Region, US$/boe, 2011-2015 62
Figure 61: EQT Corporation, Total Revenue per boe, By Country/Region, US$/boe, 2011-2015 63
Figure 62: EQT Corporation, Oil and Gas Performance Metrics, 2011-2015 64
Figure 63: EQT Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 65
Figure 64: EQT Corporation, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2011-2015 66
Figure 65: EQT Corporation, Total Net Undeveloped Acreage, By Country/Region, Acres, 2011-2015 66
Figure 66: EQT Corporation, Total Gross Developed Acreage, By Country/Region, Acres, 2011-2015 67
Figure 67: EQT Corporation, Total Net Developed Acreage, By Country/Region, Acres, 2011-2015 67
Figure 68: EQT Corporation, Producible Oil and Gas Wells, 2011-2015 69
Figure 69: EQT Corporation, Gross Productive Gas Wells, By Country/Region, Number, 2011-2015 70
Figure 70: EQT Corporation, Gross Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 70
Figure 71: EQT Corporation, Gross Productive Oil Wells, By Country/Region, Number, 2011-2015 71
Figure 72: EQT Corporation, Net/Gross Oil & Gas Ratio, By Country/Region, %, 2011-2015 71
Figure 73: EQT Corporation, Net Productive Gas Wells, By Country/Region, Number, 2011-2015 72
Figure 74: EQT Corporation, Net Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 72
Figure 75: EQT Corporation, Net Productive Oil Wells, By Country/Region, Number, 2011-2015 73
Figure 76: EQT Corporation, Exploratory and Developed Wells, 2011-2015 74


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