Recent Updates — EQT
EQT Corporation reported third quarter 2026 net income attributable to EQT of $279 million, or diluted EPS of $0.44, compared to $336 million in the prior year period. The company generated $1.08 billion in operating cash flow and $283 million in free cash flow attributable to EQT. Capital expenditures totaled $638 million, coming in 10% below the low-end of guidance due to operational efficiency gains. Additionally, EQT announced a strategic acquisition of Range Resources Corporation, which will create America's largest vertically integrated natural gas producer. The company also increased its annualized dividend by 3% to $0.68 per share and signed a 10-year LNG sales agreement with Ignitis Group. EQT is a premier, vertically integrated American natural gas company focused on upstream and midstream operations in the Appalachian Basin.
EQT Corporation has entered into a definitive merger agreement to acquire Range Resources Corporation in an all-stock transaction valued at over $50 billion in pro forma enterprise value. Under the terms, each outstanding share of Range common stock will be converted into 0.987 shares of EQT common stock, with cash paid for fractional shares. Upon closing, EQT shareholders are expected to own approximately 73% of the combined company, while Range shareholders will hold about 27%. The transaction is subject to approvals from both companies' boards and shareholders, as well as regulatory clearances including Hart-Scott-Rodino antitrust review. Expected to close in the first quarter of 2027, the merger creates America's largest vertically integrated natural gas producer with over 9 billion cubic feet per day of net production. EQT operates as a premier, vertically integrated American natural gas company focused on upstream and midstream operations in the Appalachian Basin.
EQT Corporation anticipates reporting a total gain on derivatives of $100 million for the three months ended September 30, 2026. The company also expects to receive $70 million in net cash settlements from its derivative positions during this period, comprising $68 million from NYMEX natural gas hedge positions and $2 million from basis and liquids hedge positions. No premiums were paid or received for derivatives that settled during the quarter. These figures are preliminary and subject to change, with final amounts expected to be reported in the company's Quarterly Report on Form 10-Q. EQT Corporation is a major producer of natural gas in the United States.
On October 7, 2026, EQT Corporation established a commercial paper program allowing the issuance of short-term, unsecured notes with an aggregate limit of $3.5 billion. The program permits issuances maturing in up to 397 days, sold at discount or par under customary market terms. Net proceeds are intended for general corporate purposes, including working capital, capital expenditures, acquisitions, and debt repayment. A senior unsecured revolving credit facility will serve as a liquidity backstop. As of the report date, no notes have been issued.
EQT Corporation reported second quarter 2026 results with sales volume of 634 Bcfe, exceeding guidance. The company raised 2026 production guidance by approximately 90 Bcfe and reduced full-year capital spending guidance by $25 million. Key highlights include the $77 million acquisition of Blackline Midstream and a 10-year gas supply agreement with Competitive Power Ventures. EQT is a vertically integrated natural gas company focused in the Appalachian Basin.
EQT Corporation expects to report a total gain on derivatives of $45 million for the three months ended June 30, 2026, with net cash settlements received on derivatives totaling $73 million. The company expects to report no premiums paid or received for derivatives that settled during the period. EQT Corp is an energy company focused on natural gas production and management.