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EQT Corp (EQT) Reports 2020 Proved Reserve Growth of 13%

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  • EQT
  • DCP
  • CVX

EQT Corporation EQT recently reported total proved reserves for the year ending Dec 31, 2020, of 19.8 trillion cubic feet equivalents (Tcfe).

This marks an improvement of 2.3 Tcfe or 13% compared to 2019 levels of 17.5 Tcfe. The upside was supported by the upstream energy player’s acquisition of Chevron Corporation’s CVX assets in the Appalachian basin.

The company added that its proved developed reserves have jumped 10% year over year to 13.6 Tcfe. Moreover, the upstream firm’s proved undeveloped reserves surged 23% to 6.2 Tcfe.

EQT also announced that to prepare for any downside risk of commodity price, it has hedged roughly 80% of its expected production in 2021. This suggests an improvement of 60%, while comparing with the early-2020 hedging position.

EQT Corporation Price

 

EQT Corporation Price
EQT Corporation Price

EQT Corporation price | EQT Corporation Quote

Currently, EQT carries a Zacks Rank #3 (Hold). Meanwhile, some better-ranked players in the energy space include DCP Midstream, LP DCP and HighPoint Resources Corporation HPR. Both the stockssport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

DCP Midstream has seen an upward estimate revision for 2020 earnings in the past 30 days.

HighPoint is likely to see earnings growth of 167.5% in 2020.

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EQT Corporation (EQT) : Free Stock Analysis Report
 
Chevron Corporation (CVX) : Free Stock Analysis Report
 
DCP Midstream Partners, LP (DCP) : Free Stock Analysis Report
 
HIGHPOINT RESOURCES CORP (HPR) : Free Stock Analysis Report
 
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