Toby Rice: Strong Power Demand Pleasantly Surprised EQT During 1H

EQT Corporation delivered its latest quarterly update yesterday for the second quarter of 2025. It was jam-packed. The company had a fantastic 2Q25, including closing on the acquistion of Olympus Energy for $1.8 billion, launching an open season to increase the capacity of the southbound Mountain Valley Pipeline from 2.0 to 2.5 Bcf/d, and making two deals (although not yet finalized) to provide 800 MMcf/d of natural gas for the Shippingport Power Station in Beaver County, PA, and 665 MMcf/d for the Homer City Redevelopment project in Indiana County, PA. EQT also signed an agreement to be the exclusive provider of midstream infrastructure for West Virginia's first large-scale natural gas power plant and secured a third-party gathering contract to expand the Saturn pipeline system in West Virginia.

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