Financial Performance - The company's total sales volumes reached 634 Bcfe with an average realized price of $2.76 per Mcfe in 3Q25 [8] - Adjusted EBITDA attributable to EQT was $1200 million in 3Q25 [8] - Free cash flow attributable to EQT was $484 million in 3Q25 [8] - Capital expenditures amounted to $618 million in 3Q25 [8] - Cumulative free cash flow outperformance vs consensus was approximately $600 million over the past four quarters [13, 15] Operational Efficiency and Integration - Capital spending was 10% below the mid-point of guidance due to efficiency gains and midstream cost optimization [9] - Per unit operating costs were 7% below the mid-point of guidance due to lower gathering, LOE, and SG&A expenses [9] - The company achieved operational integration of Olympus upstream and midstream assets in 34 days [9, 19] - Drilling of two deep Utica wells was ~30% faster than Olympus' historic performance, saving >$2 million per well [9, 19] Strategic Initiatives and Market Positioning - Increased dividend by 5%, with a compounded annual dividend growth rate of ~8% since 2022 [9] - Expansion capacity of MVP Boost upsized by 20% to 600 MDth/d due to robust utility demand [9, 33] - Signed LNG offtake agreements for 4.5 million tonnes per annum (MTPA) with Sempra, NextDecade, and Commonwealth LNG beginning in 2030-2031 [9]