EQT 2Q Update: Looking to Unload Equitrans Shares, MVP Capacity

EQT, the country’s largest natural gas-producing company, issued its second-quarter 2020 update yesterday. There was a lot of news coming from the update. First and foremost, CEO Toby Rice (celebrating his one-year anniversary after taking over management of the company) said that the 1.4 billion cubic feet per day (Bcf/d) of gas production previously curtailed (shut-in) starting in May is, as of the beginning of July, fully restored and flowing with no apparent “degradation” in the performance of the shut-in wells. However, it was other remarks–about Equitrans and the Mountain Valley Pipeline (MVP)–that caught our attention.

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