Eqt Corp Stock Price, News & Analysis

EQT and its subsidiary EQM Midstream Partners have launched concurrent tender offers. EQM is offering to purchase any and all of its outstanding 6.500% Senior Notes due 2027, while EQT is offering to buy its 3.900% Senior Notes due 2027 for up to $750 million aggregate purchase price, less the amount spent on EQM Notes.

The tender offers expire on March 24, 2025. Holders who tender by March 7, 2025 (Early Tender Date) will receive the Total Consideration, including a $50 per $1,000 early tender premium. For EQM Notes, the Total Consideration is $1,026.25 per $1,000 principal amount. EQT Notes' pricing will be determined based on Treasury rates.

Additionally, EQM is soliciting consents to amend the indenture governing its 2027 Notes, which would eliminate most restrictive covenants and certain events of default. The company is also conducting a concurrent exchange offer allowing eligible EQM holders to exchange their notes for new EQT notes on a par-for-par basis.

EQT (NYSE: EQT) has announced exchange offers for up to $4.54 billion of outstanding notes issued by its subsidiary EQM Midstream Partners, LP. The exchange offers allow eligible holders to swap their existing EQM notes for new EQT notes and cash. The exchange offers will expire on March 24, 2025, with an early tender date of March 7, 2025.

Alongside the exchange offers, EQM is conducting consent solicitations to modify the existing notes' indentures, which would eliminate most restrictive covenants and certain events of default. Holders cannot tender notes without providing consent, and vice versa. The settlement date is expected to be March 26, 2025.

Concurrently, EQM launched a cash tender offer for its 6.500% Senior Notes due 2027, while EQT commenced a separate tender offer for its 3.900% Senior Notes due 2027. The new notes will maintain the same maturity dates, interest rates, and payment dates as the existing notes being exchanged.

EQT reported its Q4 and full-year 2024 results, achieving sales volume of 605 Bcfe in Q4, at the high end of guidance. The company generated $588 million in free cash flow with capital expenditures of $583 million, 7% below guidance. Year-end 2024 proved reserves totaled 26.3 Tcfe.

For 2025, EQT initiated production guidance of 2,175-2,275 Bcfe, 125 Bcfe above prior expectations. The company projects approximately $2.6 billion in free cash flow for 2025 and $3.3 billion for 2026 at recent strip pricing. Maintenance capital guidance is set at $1,950-$2,120 million with additional growth capital of $350-$380 million.

The company plans to reduce from 3 to 2 frac crews by end of Q1 2025, ahead of schedule due to efficiency gains. EQT expects to exit 2025 with approximately $7 billion of net debt, beating their $7.5 billion target.

EQT (NYSE: EQT) has announced its Board of Directors' declaration of a quarterly cash dividend of $0.1575 per share. The dividend will be paid on March 3, 2025, to shareholders who are on record at the close of business on February 18, 2025.

EQT has announced the completion of a significant stock sale involving Kodiak Gas Services (NYSE: KGS). Through an affiliate of EQT Infrastructure III and IV funds, the company sold approximately 3.7 million shares of Kodiak Gas Services common stock, generating gross proceeds of approximately USD 177 million. The transaction was executed on January 30, 2025, in accordance with Rule 144 of the Securities Act of 1933. Goldman Sachs & Co. served as the broker for this transaction.

EQT (NYSE: EQT) has announced it will release its fourth quarter and year-end 2024 financial and operating results after market close on Tuesday, February 18, 2025. The company will host a conference call to discuss the results on Wednesday, February 19, 2025, at 10:00 a.m. ET. The event will include a Q&A session for securities analysts. Investors can access the live audio webcast through EQT's investor relations website at ir.eqt.com. A replay of the conference call will be available for one year at the same location.

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.

EQT has successfully closed its previously announced midstream joint venture with Blackstone Credit & Insurance (BXCI). The transaction resulted in EQT receiving $3.5 billion in cash consideration, net of certain fees and expenses, in exchange for granting BXCI a non-controlling common equity interest in the JV. The proceeds were used to pay down EQT's term loan, revolving credit facility, and bridge term loan facility that funded the redemption and repurchase of certain EQM Midstream Partners, LP senior notes through a tender offer.

EQT announced that its subsidiary, EQM Midstream Partners, has increased its tender offer maximum aggregate purchase price from $1.275 billion to $1.3 billion for its outstanding senior notes. The tender offer includes the 6.500% Notes due 2048, 5.500% Notes due 2028, 4.50% Notes due 2029, and 7.500% Notes due 2030.

As of the Early Tender Date (December 9, 2024), significant portions of each note series were tendered: 85.4% of 2048 Notes, 86.0% of 2028 Notes, 94.5% of 2029 Notes, and 76.1% of 2030 Notes. Due to oversubscription, EQM will accept notes based on Acceptance Priority Procedures with varying proration factors. The Early Settlement Date is expected to be December 30, 2024.