Rice Says EQT in Unique Position, Looks to “Trim the Rosebush”

EQT Corporation, the largest natural gas producer in the country, turned in its first-quarter 2020 update yesterday. EQT produced an average of 4.2 billion cubic feet equivalent per day (Bcfe/d). The company reports generating $251 million in free cash flow but recorded a loss of $167 million due to “the loss on investment in Equitrans Midstream, the loss on exchange of long-lived assets, decreased operating revenues, increased impairment and expiration of leases and the loss on debt extinguishment.” Revenues were $1.1 billion for 1Q.

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