Benzinga | Jan 5, 2021 06:35AM EST

EQT Reports 2020 Proved Reserves Of 19.8 Tcfe

PITTSBURGH, Jan. 5, 2021 /PRNewswire/ -- EQT Corporation (NYSE:EQT) today reported year-end 2020 total proved reserves of 19.8 Tcfe, an increase of 2.3 Tcfe or 13% compared to year-end 2019. The increase was driven by the efficiencies realized from the execution of EQT's combo-development strategy, and reserve additions associated with EQT's acquisition of Chevron's upstream Appalachian assets, which closed on November 30, 2020 (the Chevron Acquisition).

EQT actively hedged throughout 2020 and now sits with approximately 80% of its expected 2021 production hedged, an increase of approximately 60% as compared to the hedge position at the beginning of 2020.