EQT Video Showcases Innovative Technologies Powering EQT’s Transformation into Industry’s Lowest-Cost Operator
EQT Corporation (NYSE:EQT) today released a new video showcasing the unique, innovative technologies that are powering EQT’s transformation into the industry’s most efficient and lowest cost operator. The video, which is available at www.VoteGoldForEQT.com/our-technology, demonstrates how EQT has been leveraging and continues to innovate around data science and real-time, cloud-based analytics to optimize its operations, maximize the value of its world-class assets and enhance shareholder value.
EQT is releasing the video in part to correct false and misleading comments made by the Toby Rice Group regarding EQT’s operations and cost structure. As the video demonstrates, EQT’s refreshed management team has developed and is utilizing cutting-edge technologies to improve operations and accelerate free cash flow growth in order to deliver sustainable, superior shareholder value.
The video highlights how EQT is utilizing technology to:
- Measure asset performance. EQT’s Completions Operations & Reservoir Evaluation (CORE) system aggregates and standardizes data in real-time, providing a powerful understanding of the Company’s acreage and significantly improving EQT’s ability to monitor, assess and track well performance. Similarly, EQT’s Full Basin Intelligence (FBI) software provides unparalleled insight into competitor well design, asset performance, basin development trends, acreage utilization and economic performance metrics.
- Improve drilling efficiency. At the Company’s Real Time Operations Center (RTOC), engineers and geo-steerers use real-time data to optimize drilling parameters and make proactive decisions to improve drilling performance, reduce tool failures and reduce the time and expense of drilling wells. With the RTOC, EQT is one of the first land-based operators to remotely drill 100% of wells.
- Manage water operations. At EQT’s Production Control Center (PCC), engineers monitor real-time data from multiple remote sources and coordinate work flows dispatched to field operators. Using a proprietary optimization model, the PCC identifies the most efficient and lowest cost option for moving water; this has resulted in a 30% reduction of EQT trucks on the road, hauling the same amount of water.
- Analyze real-time trading statistics. On the Company’s commercial trading floor, advanced analytical tools provide real-time access to trading statistics, weather data, market intelligence and competitor information. This data helps EQT make the best hedging, trading and selling decisions, and ultimately maximizes revenue.
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Shareholders can access the full video at www.VoteGoldForEQT.com/our-technology.