EQT's CEO Discusses Q1 2012 Results - Earnings Call Transcript

EQT Corporation (EQT)

Q1 2012 Earnings Conference Call

April 26, 2012 10:30 ET

Executives

Patrick Kane – Chief Investor Relations Officer

Phil Conti – Senior Vice President and Chief Financial Officer

David Porges – President and Chief Executive Officer

Analysts

Neal Dingmann – SunTrust

Scott Hanold – RBC Capital Markets

Anne Cameron – BNP Paribas

Michael Hall – Robert W. Baird

Craig Shere – Tuohy Brothers

Presentation

Operator

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Good morning and welcome to the EQT Corporation First Quarter 2012 Earnings Conference Call. All participants will be in a listen-only mode. (Operator Instructions) Please note this event is being recorded.

Now, I'd like to turn the conference over to Mr. Patrick Kane. Please go ahead.

Patrick Kane – Chief Investor Relations Officer

Thanks, (Emily). Good morning, everyone and thank you for participating in EQT Corporation's first quarter 2012 earnings conference call. With me today are Dave Porges, President and Chief Executive Officer; Phil Conti, Senior Vice President and Chief Financial Officer; Randy Crawford, Senior Vice President and President of Midstream, Distribution and Commercial; and Steve Schlotterbeck, Senior Vice President and President of Exploration and Production.

In just a moment, Phil will summarize our operational and financial results for the first quarter 2012, which were released this morning. Then Dave will provide an update on our strategic operational matters. Following Dave's remarks, Dave, Phil, Randy, and Steve will be available to answer your questions.

I'd like to point out that today on our website we provided additional details on our cost per well and EUR per well at different well lengths. Historically, we have provided these estimates assuming a 5300-foot lateral, which was our projected average. As you will see, the EUR per foot of lateral is unchanged and the cost per well is lower.

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