EQT Completes Non-Operated Asset Divesture

Rhea-AI Summary

EQT (NYSE: EQT) has announced the completion of its sale of remaining non-operated natural gas assets in Northeast Pennsylvania to Equinor USA Onshore Properties Inc. and its affiliates. The transaction generated approximately $1.25 billion in cash proceeds, which EQT has utilized to reduce outstanding borrowings under its revolving credit facility.

Positive

• Received $1.25 billion in cash proceeds from asset sale
• Reduced debt by paying down revolving credit facility
• Strategic divestment of non-operated assets improving operational focus

Negative

• Reduction in natural gas asset portfolio
• Potential decrease in future revenue streams from divested assets

PITTSBURGH, Dec. 31, 2024 /PRNewswire/ -- EQT Corporation (NYSE: EQT) announced today it has closed on the sale of its remaining non-operated natural gas assets in Northeast Pennsylvania to Equinor USA Onshore Properties Inc. and its affiliates. EQT received approximately $1.25 billion in cash proceeds, less closing adjustments, from the sale, which was used to repay outstanding borrowings under its revolving credit facility.

Investor Contact
Cameron Horwitz
Managing Director, Investor Relations & Strategy
412.445.8454
Cameron.Horwitz@eqt.com

About EQT Corporation
EQT Corporation is a premier, vertically integrated American natural gas company with production and midstream operations focused in the Appalachian Basin. We are dedicated to responsibly developing our world-class asset base and being the operator of choice for our stakeholders. By leveraging a culture that prioritizes operational efficiency, technology and sustainability, we seek to continuously improve the way we produce environmentally responsible, reliable and low-cost energy. We have a longstanding commitment to the safety of our employees, contractors, and communities, and to the reduction of our overall environmental footprint. Our values are evident in the way we operate and in how we interact each day – trust, teamwork, heart, and evolution are at the center of all we do. To learn more, visit eqt.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/eqt-completes-non-operated-asset-divesture-302340753.html

SOURCE EQT Corporation (EQT-IR)

FAQ

How much did EQT receive for its Northeast Pennsylvania non-operated assets sale?

EQT received approximately $1.25 billion in cash proceeds from the sale of its non-operated natural gas assets to Equinor USA Onshore Properties Inc.

What will EQT do with the proceeds from the asset sale?

EQT is using the proceeds to repay outstanding borrowings under its revolving credit facility.

Which company purchased EQT's non-operated assets in Northeast Pennsylvania?

Equinor USA Onshore Properties Inc. and its affiliates purchased EQT's non-operated natural gas assets in Northeast Pennsylvania.

When did EQT complete its non-operated asset sale?

EQT completed the sale of its non-operated assets on December 31, 2024.