EQT Corporation sees FY18 CapEx $1.9B-$2.0B
EQT Corporation announced the Company's 2019 capital expenditure, or CAPEX, forecast of $1.9B-$2.0B, which includes approximately $1.6B for reserve development. Based on pricing as of January 14, EQT forecasts approximately $350M of Adjusted Free Cash Flow in 2019. EQT forecasts 2019 production sales volume of 1,470Bcfe-1,510 Bcfe. The 2019 drilling program anticipates a 5% increase in production sales volume in 2020. "Over the last 18 months, we have transformed EQT into a focused upstream industry leader with a strong balance sheet and simplified corporate structure," said the company. "Today, EQT is a new company with a new management team executing a new plan. With the support of our Board, we expect to build on our momentum from the fourth quarter, significantly enhancing operational efficiency and accelerating adjusted free cash flow to a cumulative $2.7B more over the next five years, with potential upside from additional ongoing initiatives. We are confident in our ability to deliver superior shareholder value and excited for the future as a more focused, efficient EQT."