The following is a summary of the EQT Corporation (EQT) Q1 2024 Earnings Call Transcript:

Financial Performance:

• EQT Corporation reported Q1 2024 sales volumes of 534 Bcfe.

• Lower-than-expected LOE contributed to improved financial performance.

• The company ended Q1 with total debt of approximately $5.5 billion and $650 million in cash, reducing the net debt position to approximately $4.9 billion.

• $500 million from the Equinor deal will be applied towards debt reduction.

• EQT has hedged between 40% and 50% of its production for the remainder of 2024, and about 40% for the first half of 2025.

Business Progress:

• EQT has acquired Equitrans Midstream allowing it to become the first large-scale, vertically integrated natural gas business in the U.S.

• The company plans to expand the MVP to meet growing demand in the Southeast region.

• EQT will continue to reduce voluntary production curtailments until the end of May 2024 due to the current low natural gas price environment.

• EQT is focusing on cost reduction by increasing its midstream asset utilization.

• The company aims to protect its balance sheet with its hedge strategy for the next 12 to 18 months and is expected to shift towards higher gas prices and volatility post-2026.

More details: EQT Corp IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.