EQT helped pioneer advanced drilling technologies in the Appalachian Basin and is applying innovative techniques that have the potential to positively impact our operations and those of our peers, promising to revolutionize the industry as a whole.
Horizontal drilling has become the standard in our industry. Horizontal drilling now allows us to access previously unattainable pockets of natural gas reserves in underground shale beds. Conventional vertical drilling techniques have been unable to recover these reserves effectively or economically, but newer horizontal drilling technology allows us to recover much more natural gas from fewer wells, saving time, energy, and money, as well as reducing the potential impacts to the environment. The company drilled 135 horizontal wells in 2016. EQT's proved reserves increased by 35 percent in 2016, and proved developed reserves increased nine percent over the previous year.