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EQT Corp (EQT) Reports 2020 Proved Reserve Growth of 13%
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EQT Corporation (EQT - Free Report) 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 - Free Report) 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.
Currently, EQT carries a Zacks Rank #3 (Hold). Meanwhile, some better-ranked players in the energy space include DCP Midstream, LP and HighPoint Resources Corporation . 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 Corp (EQT) Reports 2020 Proved Reserve Growth of 13%
EQT Corporation (EQT - Free Report) 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 - Free Report) 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 Quote
Currently, EQT carries a Zacks Rank #3 (Hold). Meanwhile, some better-ranked players in the energy space include DCP Midstream, LP and HighPoint Resources Corporation . 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.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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