EQT’s Estimated Reserves Increase 21% to 25.9 Trillion Cubic Feet
EQT released their 2012 profits and production report yesterday (see EQT 2012 Report: Marcellus Production Way Up, Profits Way Down). In addition, EQT also released information about their “proved” and estimated reserves—the best estimate of how much gas is available to recover from their leased acreage.
Based on 2012 drilling results, EQT estimates their proved reserves (those reserves about which they are nearly 100% confident) have increased by 12% to 6 trillion cubic feet (tcf). But when you add to it “probable” and “possible” reserves, or “3P reserves,” the number goes to 25.9 tcf, a jump of 21%.