Eqt

[ChuckGeb]

First Quarter 2023 and Recent Highlights:

Net cash provided by operating activities of $1,663 million; generated robust free cash flow(1) of $774 million
First quarter sales volumes of 459 Bcfe, two percent above the mid-point of guidance range
Capital expenditures, excluding noncontrolling interests, of $464 million, two percent below the low-end of guidance range
Total debt of $5.5 billion and net debt(1) of $3.3 billion, each as of March 31, 2023; last twelve month leverage(1) of 0.9x, down from 1.2x at December 31, 2022
Ended the quarter with a cash balance of more than $2.1 billion, up over $600 million from year-end 2022
Repurchased ~6 million shares of common stock during the quarter for $200 million or <$34/share; retired 20.4 million shares for $622 million since inception of share repurchase program
Retired $210 million of senior note principal in the first quarter at an average cost of 96% of par

Don’t appear to be any signs of slowing up plans; full speed ahead. May bury some in its wake.

[ChuckGeb]

EQT reports their hedge volumes in terms of Mmdh. How does that translate to mcf or mmbtu?

[Ray_M]

This is what I found...

MMDth is one million dekatherms, roughly energy equivalent to a billion cubic feet of natural gas (BCF).

A converter can be found at this link: https://www.kylesconverter.com/energy,-work,-and-heat/million-dekatherms-(ec)-to-cubic-feet-of-natural-gas

[dan_s]

Notes from Truist Financial

EQT Corporation (EQT, $31.36, Hold) - 1Q23 Beat/2023
Guide Reiterated as Debt Repayment/Shareholder Returns
Continue1Q23 Beat/2023 Guide Reiterated as Debt Repayment/
Shareholder Returns Continue - Bertrand Donnes

Antero Resources Corporation (AR, $21.81, Buy) - 1Q23 Miss
But 2023 Guidance Reiterated as Buybacks Continued 1Q23
Miss But 2023 Guidance Reiterated as Buybacks Continued -
Bertrand Donnes

Pioneer Natural Resources Company (PXD, $222.48, Hold) -
1Q23 Mixed/Guidance Reiterated with Large Payout, Though Big
News is Passing of the Torch1Q23 Mixed/Guidance Reiterated
with Large Payout, Though Big News is Passing of the Torch -
Neal Dingmann