Shares of EQT Corporation (EQT) gained about 1% since it released better-than-expected third-quarter 2024 earnings on Oct. 29.Before delving into the recently reported quarterly results, let’s examine the business of the large natural gas exploration and production company.Upstream Business of EQTEQT Corporation is among the leading upstream energy players producing natural gas, with a solid footprint in the prolific Appalachian Basin. In the United States, it ranks as one of the largest natural gas produce ...

A pair of prognosticators grew slightly more bullish in the wake of the company's latest earnings report.Natural gas producer EQT (EQT 3.31%) produced plenty of gains on the stock market as the trading week kicked off. The company didn't have any significant news of its own to report, rather a pair of modest analyst price raises combined to give some lift to the shares. As a result the stock closed the day more than 3% higher, a markedly better performance than the S&P 500 index's 0.3% decline.Firing up a p ...

| --- | --- | --- | --- | --- | --- | |-------|-------|-----------------------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | Investor Presentation | | | | | | | | | | | Cautionary Statements The Securities and Exchange Commission ("SEC") permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves that a company anticipates as of a given date to be economically and legally producible and deliverable by application of develop ...

EQT Corporation (EQT) reported third-quarter 2024 adjusted earnings from continuing operations of 12 cents per share, which beat the Zacks Consensus Estimate of 5 cents. The bottom line declined from the year-ago reported earnings of 30 cents per share. Adjusted operating revenues increased to $1.38 billion from $1.19 million in the prior-year quarter. However, the top line missed the Zacks Consensus Estimate of $1.43 billion. The better-than-expected quarterly earnings were driven by higher sales volume an ...

EQT Corporation (EQT) has announced the sale of the remaining interest in its non-operated natural gas assets in northeast Pennsylvania. The company is reportedly selling its interest to Equinor ASA (EQNR) in a cash transaction worth $1.25 billion. The announcement came just a few months after EQT sold a 40% interest in the assets to EQNR in lieu of the latter's onshore asset in the Appalachian basin and $500 million in cash. EQT's Debt Burden EQT has mentioned that it will be using the cash proceeds from t ...

EQT Corporation (EQT) came out with quarterly earnings of $0.12 per share, beating the Zacks Consensus Estimate of $0.05 per share. This compares to earnings of $0.30 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 140%. A quarter ago, it was expected that this company would post a loss of $0.19 per share when it actually produced a loss of $0.08, delivering a surprise of 57.89%. Over the last four quarters, the company has s ...

PITTSBURGH, Oct. 29, 2024 /PRNewswire/ -- EQT Corporation (NYSE: EQT) today announced financial and operational results for the third quarter of 2024. Third Quarter 2024 and Recent Highlights: Integration of Equitrans Midstream Corporation (Equitrans) more than 60% complete just three months following the transaction closing; actions taken to date estimated to result in $145 million of annualized base synergies, de-risking more than 50% of total base plan synergies Sales volume of 581 Bcfe, above the high-e ...

Transaction Details - EQT Corporation is in talks with Blackstone to sell minority stakes in its interstate natural gas pipelines, valued at approximately $3.5 billion [1] - The deal is expected to be finalized in the upcoming weeks if discussions proceed smoothly [1] - EQT will continue to operate the pipeline after the deal is finalized [2] Financial Impact - The transaction could ease EQT's debt burden, which increased by about $14 billion due to the acquisition of Equitrans Midstream [2][5] - Blackstone plans to fund the transaction through its credit and insurance wing [2] - The deal is expected to provide Blackstone with a steady stream of earnings from long-term contracts associated with pipelines and energy infrastructure assets [3] Pipeline Assets - EQT holds interests in 940 miles of interstate natural gas pipelines with a combined capacity of approximately 4.4 billion cubic feet per day (bcf/d) [5] - The deal includes EQT's stake in the Mountain Valley Pipeline, a 300-mile pipeline connecting West Virginia to Virginia [3][5] - The Mountain Valley Pipeline faced delays and legal battles but became operational in June this year [4] Industry Context - Archrock Inc, an energy infrastructure company, focuses on midstream natural gas compression and generates stable fee-based revenues [7] - The Williams Companies, Inc operates a pipeline system of more than 33,000 miles, making it one of the largest domestic transporters of natural gas by volume [8] - FuelCell Energy provides low-carbon energy solutions using flexible fuel sources like biogas, natural gas, and hydrogen, contributing to the energy transition [9]

Core Insights - EQT Corporation has achieved net zero Scope 1 and Scope 2 greenhouse gas emissions ahead of its 2025 goal, marking it as the first traditional energy producer of scale to reach this milestone [1][3][8] Group 1: Achievements and Initiatives - The net zero status encompasses all of EQT's upstream operations, including recently acquired assets, which represented a 52% increase in starting-point emissions [1][2] - Key operational improvements contributing to this achievement include the replacement of over 9,000 pneumatic devices, resulting in an annual reduction of approximately 300,000 MT CO2e [2] - The electrification of frac fleets has reduced EQT's carbon footprint by an estimated 35,000-50,000 MT CO2e annually [2] - The implementation of a "combo-development" approach has improved drilling operations by approximately 30% and significantly reduced greenhouse gas emissions [2] - Emissions control devices installed on acquired Alta Resources assets eliminated approximately 35,000 MT CO2e of GHG emissions [2] - The establishment of the Appalachian Methane Initiative aims to enhance methane monitoring and remediation efficiency through coordinated satellite and aerial surveys [2] Group 2: Future Commitments - EQT's NetZero Now+ initiative reflects its commitment to maintaining net zero emissions across all assets in future years [3] - The company aims to offset remaining Scope 1 and Scope 2 GHG emissions through nature-based carbon sequestration projects in partnership with West Virginia [2][3] - The overall emissions reduction goal set in 2019 required a reduction or offset of over 600,000 MT CO2e, which has now been achieved [3][8]

U.S. Natural Gas Demand and Industry Overview - In 2024, the United States has become the leading driver of natural gas demand, with gas accounting for a record 46% of total power generation, reaching 55.6 million megawatt hours, a 5% increase from the previous year [1] - The U.S. now represents 30% of global gas-powered electricity, up from 29% in 2023, highlighting its dominant position in the sector [2] Key Power Systems and Trends - The surge in gas-fired power generation is primarily driven by key power systems transitioning from coal, including PJM Interconnection, Midcontinent ISO, ERCOT, and Florida's power systems, with Florida experiencing a 13.4% increase in gas use [3] - The continued reliance on natural gas is expected until renewable energy capacity and battery storage can provide reliable on-demand power [4] Industry Implications - The dependence on natural gas indicates a disconnect between U.S. energy trends and climate ambitions, with a reduction in gas reliance contingent on sufficient clean power generation levels [5] Investment Opportunities - Three gas-focused energy stocks identified as potential beneficiaries of the rising natural gas consumption are Cheniere Energy, EQT Corporation, and Kinder Morgan [6] - Cheniere Energy, a major LNG exporter, is positioned to benefit from increased domestic and global demand for U.S. natural gas, potentially boosting its export volumes and revenue [7] - EQT Corporation, the largest natural gas producer in the U.S., is well-placed to capitalize on rising gas consumption due to its production capacity and focus on efficiency [8] - Kinder Morgan, operating a vast natural gas pipeline network, is critical for transporting gas to power plants, ensuring stable cash flows and growth potential as gas-fired generation increases [9] Conclusion - Despite aspirations to reduce fossil fuel dependence, natural gas remains essential in the U.S. energy mix in 2024, with companies like Cheniere Energy, EQT, and Kinder Morgan positioned to benefit from the ongoing demand for gas-fired electricity [11]