PITTSBURGH, July 23, 2024 /PRNewswire/ -- EQT Corporation (NYSE: EQT) today announced financial and operational results for the second quarter of 2024.

Second Quarter 2024 and Recent Highlights:

Closed the acquisition of Equitrans Midstream Corporation (Equitrans) a full quarter ahead of plan, resulting in approximately $150 million of savings relative to initial expectations; accelerates synergy capture and the commencement of deleveraging planSales volume of 508 Bcfe, above the high-end of guidance driven by continued operational efficiency gains and strong well performanceCapital expenditures of $576 million, below the midpoint of guidance despite faster activity pace; recent developments show a step change improvement in completion efficiency with potential for structurally lower well costsTotal per unit operating costs of $1.40 per Mcfe, below the low-end of guidance driven by lower-than-expected LOE and SG&A expenseHigher-than-expected southeast gas prices via Mountain Valley Pipeline capacity drove second quarter differential towards the low-end of guidanceTotal debt and net debt(1) down from $5.8 billion and $5.7 billion at year-end 2023 to $5.0 billion and $4.9 billion, respectively, at quarter-endRetired approximately $600 million of 2025 senior notes with proceeds from partial non-operated asset monetization; marketing remaining 60% interest in northeast Pennsylvania non-operated assetsIncreased revolving credit facility lender commitments from $2.5 billion to $3.5 billionConverted non-binding Heads of Agreement with Glenfarne Energy Transition's Texas LNG to binding Liquefaction Tolling Services Agreement for 2 million tonnes per annum of liquefaction tolling capacityReleased 2023 ESG report highlighting successful achievement of GHG emission intensity and methane emission intensity targets one year ahead of schedule; on track to achieve net zero by 2025(2)