Eqt Corp Stock Price, News & Analysis

EQT Corporation has priced a public offering of 20 million shares of its common stock at $15.50 per share. The offering includes an option for underwriters to purchase an additional 3 million shares. Proceeds will partially fund the acquisition of upstream and midstream assets in the Appalachian Basin from Chevron U.S.A. Inc. If the acquisition is not completed, proceeds will be used to repay outstanding debt and for general corporate purposes. The offering is not contingent on the acquisition's completion.

EQT Corporation has agreed to acquire Chevron's Appalachian upstream and midstream assets for $735 million, expected to close in late Q4 2020. The acquisition is designed to enhance EQT's dominant position in the southwest Marcellus, encompassing 450 MMcfe production and significant undeveloped acreage. The deal will be financed through cash reserves and credit facilities. EQT anticipates the acquisition will improve margins and cash flow, enhancing shareholder value.

EQT Corporation has initiated a public offering of 20,000,000 shares of its common stock, with an option for underwriters to purchase an additional 3,000,000 shares. The proceeds will primarily fund the acquisition of upstream and midstream assets from Chevron in the Appalachian Basin. Completion of the offering is not contingent upon this acquisition. If the acquisition does not occur, funds will be allocated to repay debt and general corporate purposes. The offering is managed by Citigroup, Credit Suisse, BofA Securities, and Barclays.

EQT Corporation reported its third quarter 2020 results with sales volumes of 366 Bcfe, showing a slight decline from 381 Bcfe in Q3 2019. The average realized price per Mcfe decreased to $2.33, down from $2.47. A net loss of $601 million was recorded, compared to a loss of $361 million a year earlier. Free cash flow increased to $47 million, mainly due to reduced capital expenditures of $248 million, which were significantly lower than previous quarters. The company also received $202 million in tax refunds, improving liquidity amid production curtailments.

EQT Corporation released its 2019 Environmental, Social and Governance (ESG) Report, detailing efforts to enhance environmentally responsible natural gas production. Key highlights include a 23% decrease in Scope 1 greenhouse gas emissions compared to 2018, and a 78% lower methane intensity than the 2025 target. The report emphasizes EQT's commitment to stakeholders, operational efficiencies, and community investments totaling over $29 million. As the largest U.S. natural gas producer, EQT aims to play a critical role in sustainable energy practices.

EQT Corporation (NYSE: EQT) has scheduled a conference call on October 22, 2020, at 9:00 a.m. ET, to discuss its third quarter 2020 financial and operational results. The results will be released prior to market opening on the same day. A Q&A session for securities analysts will follow the discussion. Investors can access the call via the company's investor relations website, where a replay will be available for seven days.

EQT Corporation announced the results of its cash tender offer to purchase all outstanding 4.875% Senior Notes due 2021. The offer expired on August 11, 2020, with approximately $101.5 million of the notes tendered. Payment for accepted notes is expected by August 12, 2020, with additional payments for guaranteed delivery notes on August 14, 2020. The company will finance the purchase using cash on hand or borrowings from its revolving credit facility. BofA Securities acted as the Dealer Manager for the offer.

EQT Corporation has initiated a tender offer to purchase all outstanding 4.875% Senior Notes due 2021, totaling $245.39 million. The offer price is set at $1,032.50 per $1,000 principal amount, excluding accrued interest. The tender offer will expire on August 11, 2020. Holders of the notes can withdraw their bids until the expiration date. Funding will come from cash on hand and a potential draw on EQT's credit facility. BofA Securities is the dealer manager for this operation.

EQT Corporation reported its Q2 2020 financial results, showing total sales volumes of 346 Bcfe, exceeding guidance by 21 Bcfe. Revenue reached $527 million with an average realized price of $2.36 per Mcfe. Capital expenditures decreased by $163 million year-over-year, totaling $303 million. The company managed to reduce total debt by $417 million, retiring its 2021 term loan. Despite an operating net loss of $263 million, the management highlighted significant operational improvements and a successful $500 million convertible notes issuance to address debt maturities.