This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

EQT Reports Second Quarter 2012 Earnings

Stocks in this article: EQT

Distribution

Distribution had second quarter 2012 operating income of $6.4 million, compared to $8.9 million for the same period in 2011. Total net operating revenues for the second quarter 2012 were 5% lower at $31.2 million primarily due to warmer weather during the first part of the second quarter of 2012. Operating expenses were $0.9 million higher year-over-year.

OTHER BUSINESS

2012 Capital Expenditures Forecast

The Company reiterates its intent to drill 132 Marcellus wells in 2012; however, as a result of year-to-date investments, and refinements to the second half forecast, EQT Production is decreasing its 2012 CAPEX forecast to $900 million, a reduction of $65 million. The Company's overall CAPEX forecast is now $1,300 million.

Hedging

Since the end of the first quarter 2012, the Company added to its hedge position for the remainder of 2012 through 2014. As of July 25, 2012, EQT has hedged approximately 56% of its expected sales of produced natural gas for the second half of 2012, excluding liquids. The Company does not hedge produced NGLs. The Company’s total natural gas hedge positions for 2012 through 2014 production are:

  2012**   2013   2014
Swaps
Total Volume (Bcf) 66 84 45
Average Price per Mcf (NYMEX)* $ 4.67 $ 4.91 $ 4.75
 
Collars
Total Volume (Bcf) 11 25 24
Average Floor Price per Mcf (NYMEX)* $ 6.51 $ 4.95 $ 5.05
Average Cap Price per Mcf (NYMEX)* $ 11.83 $ 9.09 $ 8.85
 

* The average price is based on a conversion rate of 1.05 MMBtu/Mcf** July through December

4 of 11

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs