EQT Sees FY17 CAPEX Of $1.5 Bln, Production Sales Volume Of 810 - 830 Bcfe

(RTTNews) - EQT Corp. (EQT) announced Monday its 2017 capital expenditure or CAPEX forecast of $1.5 billion, excluding business development and land acquisitions, and including $1.3 billion for well development. Funding will be provided by cash generated from operations, and cash-on-hand.

EQT forecasts 2017 production sales volume of 810 - 830 Bcfe, which includes volume growth of 70 Bcfe, the majority of which stems from the previous year's drilling program.

The company noted that the majority of the volume expected from the 2017 drilling program will be realized in 2018, at which time EQT forecasts production volume growth of 15 - 20% per year for several years.

EQT's 2017 CAPEX forecast excludes CAPEX for EQT Midstream Partners, LP (EQM), a master limited partnership controlled by EQT.