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Fast Facts
OWN
EQT owns or maintains the drilling rights to 3.4 million acres of land in the Appalachian Basin.
We have 9.5 trillion cubic feet (Tcfe) of
natural gas reserve
potential, including proved, probable and possible
reserve
categories
(
3P
)
.
We own more than 3.1 Tcfe of proved natural gas reserves, making EQT one of the largest owners of reserves in the Appalachian Basin.
EQT owns an additional estimated 15.5 Tcfe of unrisked reserve potential.
EQT drilled 668 new wells in 2008. Of those, 389 were horizontal wells, representing 58 percent of EQT’s drilling activity last year. The majority of EQT’s horizontal wells are in the Huron Shale.
EQT has 14 natural gas storage reservoirs with nearly 500 MMcf per day of peak delivery capability and 63 Bcf of storage capacity, of which 32 Bcf is working gas.
OPERATE
EQT operates with a very low cost structure, making our drilling efforts resilient to lower natural gas prices.
EQT own or operates more than 10,000 miles of pipeline, forming an extensive midstream infrastructure that allows EQT to gather, transport and deliver natural gas to markets in the Northeast and Mid-Atlantic United States.
EQT owns or operates 253 compressor units comprising 132 compressor stations with approximately 230,000 horsepower of installed capacity.
In 2008, EQT’s gathering system’s volumes totaled more than 145,000 BBtu.
EQT has approximately 1,700 employees working throughout Pennsylvania, West Virginia, Virginia, and Kentucky.
OUTLOOK
For 2009, EQT plans to invest approximately $600 million toward new well development.
Because EQT’s Appalachian reserves are geographically situated between the Northeastern and Midwestern United States, where the demand for natural gas is historically high, our outlook for continued growth remains high.