EQT Buyback

EQT Corporation Buyback

OLI recorded this information on 9/6/2022

Company:

EQT Corporation

Buyback:

EQT buyback

$Amount Authorized:

$2,000,000,000

Buyback Details:

EQT Corporation (NYSE: EQT) today announced that it has entered into a purchase agreement with THQ Appalachia I, LLC ("Tug Hill") and THQ-XcL Holdings I, LLC ("XcL Midstream") whereby to which EQT has agreed to acquire Tug Hill's upstream assets and XcL Midstream's gathering and processing assets, for total consideration of $5.2 billion. Tug Hill and XcL Midstream are backed by equity commitments from funds managed by Quantum Energy Partners. The transaction is expected to close in the fourth quarter of 2022, with an effective date of July 1, 2022. Subject to the transaction close and EQT's regular board approval process, Wil VanLoh, Founder and CEO of Quantum Energy Partners, will join EQT's board of directors. President and CEO Toby Z. Rice stated, "The acquisition of Tug Hill and XcL Midstream checks all the boxes of our guiding principles around M&A, including accretion on free cash flow per share, NAV per share, lowering our cost structure and reducing business risk, while maintaining an investment grade balance sheet. The valuation metrics are compelling and accretion from the deal should lower our NYMEX free cash flow(1) breakeven price by approximately $0.15 per MMBtu, which gives us greater free cash flow durability through the cycle. As a result of even more confidence in the sustainability of our business, we are enhancing our shareholder returns framework by doubling our share repurchase authorization to $2.0 billion and increasing our year-end 2023 debt reduction goal from $2.5 billion to $4.0 billion."

EQT is a natural gas production company with operations focused on the Marcellus and Utica shales of the Appalachian Basin.

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EQT — Key Stats (updated 22 hours, 58 minutes ago)

Company Name:	EQT Corp
Stock buyback:	EQT buyback
Website:	www.eqt.com
Sector:	Oil & Gas Exploration & Production
Number of ETFs Holding EQT:	107
Total Market Value Held by ETFs:	$3.13B
Total Market Capitalization:	$15.94B
% of Market Cap. Held by ETFs:	19.63%

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EQT Corporation Buyback

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